Cold Chain Market Overview
A temperature regulated supply chain is known as a Cold Chain. Cold Chains are practiced to improve and safeguard the shelf life of fresh agricultural products, seafood, dairy, frozen foods, and bakery & confectionery products. The above products, when in transport and storage are attributed to as Cool Cargo.
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Cold Chain goods & products are perishable and are forever on-the-way towards end-users or farther distribution channels and are hence associated with the Cargo. A constant series of cooled product, storage, and supply activities, along with the supplemental equipment and logistics, which sustain the necessary low-temperature choice is termed as an Unbroken Cold Chain because temperature maintenance is needed most all the time during transport and warehouse till the end use of consumption.
Cold Chain Market Report (2018-2023)
The Global Cold Chain Market was estimated at USD 217.03 billion in 2018 and is predicted to be growing at a CAGR of 7.5%, to take a market worth of USD 311.57 billion by 2023.
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Cold Chain Market Segmentation
The Cold Chain market is set to expand due to the increasing demand from customers for goods involving cold supply chains alike dairy fresh vegetables, products, and fruits, etc. Further, a rapid increase of international trade of perishable foods, technological progress in infrastructure development, refrigerated transport & storage, support by the government and the upsurge in an expansion of food retail chains by MNCs are the primary driving factors for the increase of the Global Cold Chain Market. High-quality control standards set by governmental agencies and the associated level of temperature control equipment are the restrictions faced by the market.
The Global Cold Chain market is categorized based on Type, Technology, Temperature Type, Application, and Geography. By the Cold Chain Type, the market is categorized into Transport and Refrigerated Storage. By Temperature Type, the market is classified into Frozen and Chilled. By the type of Technology, the market is classified into Eutectic and Air-blown. Lastly, by Application, the Cold Chain market is characterized by Fruits & Vegetables, Meat, Dairy, Bakery & Confectionary, and Seafood.
Geography segment
Geographically the Global Cold Chain market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle-East & Africa. The Europe market is the highest consumers and is recognized as a developed market, also, there is immense growth potential shown by developing markets like Asia-Pacific, South Africa, and Latin America, this is because the market is predicted to expand in developing regions, where consumer demand and investment on cold chain products is mounting rapidly.
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Major Players:
The global Cold Chain market is pretty aggressive because of various players operating at the global and local levels. Some chief players in the market are
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