The latest report by IMARC Group, titled “Asia Pacific Cold Chain Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” finds that the cold chain market in Asia Pacific size reached US$ 95.8 Billion in 2019. Cold chain logistics involve the storage and distribution of temperature sensitive products from harvest/production to consumption. The process helps in maintaining the quality, efficacy and shelf-life of the goods. In the Asia Pacific region, refrigerated warehouses and transport have gained immense preference, on account of the increasing contract manufacturing of various pharmaceuticals in several countries, along with the growing demand for perishable food items.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Asia Pacific Cold Chain Market Trends:
In recent years, with inflating income levels and shifting dietary patterns, there has been a significant rise in the demand for perishable items, such as meat, seafood, fruits, vegetables and dairy products. Along with this, the growing need for temperature-sensitive healthcare products, such as vaccines, biopharmaceuticals, clinical trial materials, has further led to the establishment of cold chain storage facilities. Furthermore, governments of various countries in the region are investing in the improvement of cold chain infrastructure and increasing the capacity of the systems. Moreover, the industry has undergone a rapid technological transformation in recent years, which has helped in the easy monitoring and maintenance of these systems. Some of the emerging technologies incorporated with cold chain facilities include GPS tracking systems, biometry, automated material handling equipment and temperature controlling sensors. On account of these factors, the market value is projected to reach US$ 181.7 Billion by 2025, expanding at a CAGR of 11.3% during 2020-2025.
- Based on the service type, the market has been bifurcated into refrigerated storage and refrigerated transport. Refrigerated storage currently represents the leading service type, holding the largest market share.
- On the basis of the temperature, the report finds that chilled cold chain services dominate the market, followed by frozen cold chain services.
- The market has been categorized based on the end user into food and beverage, pharmaceuticals, chemicals and others. At present, cold chain logistics facilities are mostly used by the food and beverage sector.
- Region-wise, China exhibits a clear dominance in the market. Other major countries include India, Japan, South Korea, Australia, Singapore and Vietnam.
- The competitive landscape of the market has also been examined, with some of the key players being AmeriCold Logistics LLC, Deutsche Post DHL Group, John Swire & Sons (H.K.) Limited, Kuehne + Nagel International AG, United Parcel Service, Inc., and Nichirei Logistics Group Inc.
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