Logistics is the detailed flow of the products from the point of origin to the point of consumption for the purpose of meeting the requirements of corporations and consumers. It aids in planning, controlling as well as implementing the storage and flow of goods and services. Owing to this, logistics plays an important role in the food industry as it helps to maintain a continuous supply of non-durable and durable goods from various distributors and suppliers. Moreover, transportation and logistics providers use various equipment, expertise and technologies so as to control and improve the supply chain operations. According to the latest report by IMARC Group, titled “Food Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global food logistics market reached a value of US$ 100 Billion in 2018.
The growth of the global food logistics market is being majorly driven by a rapid rise in the prevalence of e-commerce in the food and retail sector. Additionally, there has been an increase in organised retail which also acts as one of the primary factors contributing towards the market growth. Some of the other factors which are positively influencing the propelling demand for food logistics include improving distribution networks and infrastructure in developing regions, and the adoption of new technologies by logistics providers for enhancing their business processes. Looking forward, the market value is projected to reach around US$ 162 Billion by 2024, expanding at a CAGR of 8.3% during 2019-2024.
This report provides a deep insight into the global food logistics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the food logistics industry in any manner.
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