Cold Chain Logistics Market Size to Worth Around USD 801.26 Bn by 2030

Ottawa, July 21, 2022 (GLOBE NEWSWIRE) -- According to study by Precedence Research, the global cold chain logistics market size was reached at USD 279.48 billion in 2022. The Asia Pacific region is expected to have a dominant position in the global cold chain logistics market. This region shall have the largest market share due to rapid industrialization and urbanization. As there is an increase in the investment to the government for developing the infrastructure for cold chain logistics this region will dominate the market in the coming years. There shall be a good growth in the Asia Pacific region due to a growing demand for different types of processed food as well as frozen meat and different types of dairy products through the nations like India, China, South Korea as well as Japan.

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These countries will drive the market growth in the coming years. Increasing investment through the government shall drive the market growth in this region also there shall be an increase in the FDI that will lead to a growth in the market. As there is an increase in the amount of activities that are promoting the pharmaceutical business in this region the cold storage logistics market is expected to grow well in the coming years. This sector shall lead to the growth of the market due to its increased use or increasing demand for cold storage logistics. During the pandemic there has been an increasing demand for cold storage transport for various vaccination drives. Investments that are helpful in improving the health care of these nations shall also lead to a growth in the market.

Apart from these nations other developing nations like Africa Middle East as well as Latin America will also see a growing demand for coal chain logistics. Increase in the purchasing power and growing demand for food products that are easy to consume and cook shall lead to the growth of the market. Dual income households and hectic lifestyle has changed the consumption pattern of the consumers in these developing nations which shall drive the market growth for cold storage market.

Key Takeaways:

• In 2021, North America cold chain logistics market was valued at USD 97.7 billion
• Europe region is expected to drive growth at a CAGR of 15.8% from 2022-2030
• In 2021, the dairy and frozen desserts application segment has garnered 24% market share
• In 2021, the fruits and vegetables application segment accounted market share of 20%
• In 2021, the refrigerated warehouse type segment hit market share of 61%
• In 2021, the refrigerated transportation type segment accounted market share of around 39%

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Report highlights

• On the basis of the type, the warehouse segment has dominated the market in the past and is expected to grow in the coming years. There's an increased demand for practice food across the globe which has led to an increased demand for storage options. Frozen food products of different types need or temperature-controlled warehouse.
• On the basis of application, the dairy and frozen desserts will have a larger market share in the coming years. As there's an increased consumption of these products in the developing as well as the developed nations the market is expected to grow well in the coming years. There has been an increased use of cold chain transport system for different types of food products when it comes to meat, poultry, fish, pork.

Scope of the Report

Market dynamics

Drivers

As there is an increase in the demand for various perishable foods the market for cultural logistics is expected to grow there is an increase in the infrastructure of different types of warehouses that have cold storage systems will also lead to the growth of the market. Advanced technology which helps in controlling the temperature of these warehouses will drive the market growth. As there is an increase in the awareness of the consumers regarding the food nutrients that are maintained in these various types of foods do to proper transport and storage will drive the market growth in the coming years.

As there is a growth in the different types of retail stores of the organized type the market is expected to grow Walmart, Spar Vectra are they organized stores that are expanding in various nations. These stores are present in 24 countries which need cold storage warehouses and transport systems in order to increase their reach. The expansion of these organized stores will provide better opportunities for growth in the coming years.

Restraints

Refrigerators give out a lot of greenhouse gases that happen per day environment. As there's an increase in the use of cold chain logistics in various industries there is a great increase in the emission of these greenhouse gases which happens to be extremely harmful for the environment. It also consumes a lot of energy which is another restraint in the growth of the market. There has been no massive growth and a large amount of demand for cold storage as well as cold transportation.

In order to increase the shelf life of various products and to help in preserving the quality of various food products during their transportation there is an increased use of cold chain logistics. Increased use of cold chain logistics puts greater impact on the climate. The amount of energy consumed in the cold storage transport is higher as compared to the ones that are non refrigerated transport systems. About 21% of more energy is used in different types of transport that make use of diesel.

Opportunities

the increased use of the RFID technology in this market will drive the market during the forecast period. In various developing nations there is an increase in the use of this technology that has provided growth opportunities. There has been an improvement in the supply chain of different types of perishable items due to the use of this technology which has helped in tracking the location of different packages. Offline

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Challenges

The most important challenge in the cold chain industry is that of the lack of accreditations as well as the standards in this industry. In order to upgrade any industry that needs to be specific standards and policies that help in developing the industry. There is also a lack of trained personnel in handling of different types of products and due to all of these reasons the market growth shall be hampered in the coming years period

Recent Developments

• Maersk had entered into a partnership with Novo Nordisk in December 2020. This partnership aims at providing roadways and waterways transport in the cold chain logistics.
  
  

Market Segmentation

By Type

• Refrigerated Transport
  • Railways
  • Airways
  • Roadways
  • Waterways
• Refrigerated Warehouse

By Temperature Type

• Frozen
• Chilled

By Technology

• Dry Ice
• Gel Packs
• Eutectic Plates
• Liquid Nitrogen
• Quilts
  
  

By Process

• Pre-Cooling Facilities
• Cold Storage
• Refrigerated Carriers
• Packaging
• Information Management System
  
  

By Application

• Pharmaceuticals
• Dairy and frozen desserts
• Fruits and vegetables
• Bakery and confectionery
• Process food
• Others

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