Asia Pacific Cold Chain Market to Reach US$ 477.0 Billion by 2032, Impelled by Emerging Pharmaceutical Industry

December 07, 2021 | Transportation and Logistics

According to the latest report by IMARC Group, titled "Asia Pacific Cold Chain Market Report by Service Type (Refrigerated Storage, Refrigerated Transport), Temperature (Chilled, Frozen), End User (Food and Beverages , Pharmaceuticals, Chemicals, and Others), and Region 2024-2032," the Asia Pacific cold chain market size reached US$ 166.3 Billion in 2023. A cold chain is a supply chain network comprising refrigerated storage, production and distribution facilities. Besides this, it is equipped with a device that is utilized to constantly maintain the required low-temperature range. This storage system aids in managing the temperature of perishable products in order to maintain safety and quality from the point of origin through the distribution chain to the final consumer. Some of the common cold chain products include vegetables, meats, vaccines, pharmaceuticals, reagents, flowers and plants, seafood and dairy goods. With the growing number of organized retail stores, there has been significant growth in the demand for cold chain systems across the Asia Pacific region.

Asia Pacific Cold Chain Market Trends:

The market in the Asia Pacific is primarily driven by the rising product demand from the pharmaceutical industry. This can be attributed to the increasing prevalence of numerous acute illnesses and fatal infections among the masses, along with the growing geriatric population across the region. With the rapid outbreak of coronavirus disease (COVID-19), the demand for cold chain supply chain networks has rapidly increased, further catalyzing the market. In addition to this, extensive research and development (R&D) activities conducted by key players for introducing novel drugs and treatment methods are major driving factors. Apart from this, the growing investments by private and public agencies to upgrade the overall healthcare infrastructure are creating a positive market outlook. Moreover, continual developments in the food and beverage industry and the proliferation of quick service restaurants (QSRs) and food joints are significantly supporting the demand for cold chains. Other factors, including rapid urbanization, the emerging e-commerce sector, intensive business competition and continuous advancements in cold chain technology, are also positively influencing the market across the Asia Pacific. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 477.0 Billion by 2032, exhibiting a CAGR of 12% during 2024-2032.

Market Summary:

On the basis of the service type, the market has been segmented into refrigerated storage and transport.
Based on the temperature, the market has been bifurcated into chilled and frozen.
On the basis of the end user, the market has been segregated into food and beverages, pharmaceuticals, chemicals and others.
Based on the region, the market has been divided into China, India, Japan, Singapore, South Korea, Australia and others. Among these, China holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Service Type, Temperature, End User, Country
Countries Covered	China, India, Japan, Australia, Singapore, South Korea, Others
Companies Covered	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.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Asia Pacific Cold Chain Market to Reach US$ 477.0 Billion by 2032, Impelled by Emerging Pharmaceutical Industry

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