According to the latest report by IMARC Group, titled “Cold Chain Logistics Market by Type (Refrigerated Warehouses, Refrigerated Transportation), Application (Fruits and Vegetables, Bakery and Confectionary, Dairy and Frozen Desserts, Meat, Fish, and Sea Food, Drugs and Pharmaceuticals, and Others), and Region 2023-2028,” the global cold chain logistics market size reached US$ 226.01 Billion in 2022. Cold chain logistics refers to the comprehensive process of transporting and storing temperature-sensitive products, such as perishable goods and pharmaceuticals while maintaining their desired temperature range. This intricate supply chain management system ensures that goods are preserved in optimal conditions from production or origin to the end user. Cold chain logistics encompasses a range of industries, including food and beverages (F&B), pharmaceuticals, chemicals, and biotechnology, where product quality and safety are crucial. The process involves specialized refrigeration and temperature-controlled equipment coupled with strict monitoring and control mechanisms to prevent spoilage, degradation, or loss of potency. Given the globalization of trade and the increasing demand for fresh produce and time-sensitive medical supplies, the cold chain logistics market plays a pivotal role in ensuring the quality and viability of temperature-sensitive goods across various sectors.
Global Cold Chain Logistics Market Trends:
The global cold chain logistics market is experiencing remarkable growth, driven by the exponential expansion of international trade in perishable goods. As consumers seek access to a wide array of fresh and frozen produce regardless of geographic boundaries, there is a surging need for an efficient cold chain network, particularly across the F&B industry. Moreover, the pharmaceutical sector's evolution towards specialized and temperature-sensitive drugs and biologics is propelling the need for cold chain logistics since stringent regulations govern the transportation and storage of pharmaceutical products. Concurrent with this, the rise in biopharmaceuticals and the distribution of vaccines and temperature-sensitive medications are contributing to the market's growth. Additionally, rapid urbanization and changing consumer preferences have spurred the demand for convenience and variety in perishable products. E-commerce platforms have further enhanced this trend by enabling consumers to access a plethora of perishables online, aiding in market expansion. Furthermore, significant technological advancements and innovations in temperature monitoring, data analytics, and the Internet of Things (IoT)-enabled sensors enhancing the precision and real-time visibility of temperature-sensitive shipments are presenting remunerative opportunities for the market. Looking forward, the market value is projected to reach US$ 501.65 Billion by 2028, expanding at a CAGR of 14.40% during 2023-2028.
- Based on the type, the market is bifurcated into refrigerated warehouses and refrigerated transportation (railways, airways, roadways, and waterways). Between these, refrigerated warehouses represent the largest segment.
- On the basis of the application, the market has been segregated into fruits and vegetables, bakery and confectionary, dairy and frozen desserts, meat, fish, and sea food, drugs and pharmaceuticals, and others. Among these, dairy and frozen desserts account for the majority of market shares.
- Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Currently, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Americold Realty Trust Inc., Burris Logistics Co., Cold Box Express Inc., Conestoga Cold Storage, Congebec Inc., Lineage Logistics Holdings LLC (Bay Grove Capital Group LLC), Nichirei Logistics Group Inc. (Nichirei Corporation), Snowman Logistics Ltd., Tippmann Group, United States Cold Storage Inc. (John Swire & Sons Ltd.), VersaCold Logistics Services, etc.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Refrigerated Warehouses
- Refrigerated Transportation: Railways, Airways, Roadways, Waterways
||Fruits and Vegetables, Bakery and Confectionary, Dairy and Frozen Desserts, Meat, Fish, and Sea Food, Drugs and Pharmaceuticals, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Americold Realty Trust Inc., Burris Logistics Co., Cold Box Express Inc., Conestoga Cold Storage, Congebec Inc., Lineage Logistics Holdings LLC (Bay Grove Capital Group LLC), Nichirei Logistics Group Inc. (Nichirei Corporation), Snowman Logistics Ltd., Tippmann Group, United States Cold Storage Inc. (John Swire & Sons Ltd.), VersaCold Logistics Services, etc.
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