According to the recent report by IMARC Group, titled “Food Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global food logistics market is expected to grow at a CAGR of 8.22% during 2023-2028. Logistics refers to a process of coordinating and moving resources from the storage location to the desired destination. Logistics management helps in meeting the requirements of both the customers and the corporations by planning, coordinating, and handling the resources and their storage. It maintains a continuous flow of materials, electronics, perishable items, and equipment. Among these is food logistics, which requires specific attention according to the product being transferred. The food items are securely transported without any spoilage, damage or spillage. Moreover, food logistics providers are expected to ensure the safety of the goods from cross-contamination or tampering.
Global Food Logistics Market Trends:
Rising income levels and growing health-consciousness have increased the demand for fresh food and exotic fruits and vegetables that require optimum food logistics management to maintain their freshness and quality. This has led to the introduction of more efficient cold chain facilities, which represents one of the major factors stimulating the market growth. Moreover, food logistics providers are employing the latest technologies, including GPS-enabled sensors, on the inbound ocean, rail, and truck freight, which offer location status and real-time temperature to end-users. Additionally, they are also adopting artificial intelligence (AI) for intelligent route planning and reducing delivery time. Furthermore, due to the fast-paced lifestyle and growing e-commerce companies, consumers are more inclined towards online grocery shopping, which, in turn, is propelling the growth of the market. Another growth-inducing factor is the improvement in the distribution infrastructure.
- Based on the transportation mode, roadways account for the majority of the market share. Other segments include seaways, airways, and railways.
- On the basis of the product type, the market has been divided into vegetables, fruits, and nuts, coffee, tea, and vegetable, oil fish, shellfish, and meat cereals, bakery and dairy products and others. Currently, fish, shellfish, and meat hold the largest market share.
- Based on the service type, the market has been bifurcated into the cold chain and non-cold chain segments. At present, the cold chain is the most popular service type.
- On the basis of the segment, transportation accounts for the biggest market share. Other major segments include packaging and instrumentation.
- Region-wise, North America exhibits a clear dominance in the market. Other regions include Asia Pacific, Latin America, Europe, and Middle East and Africa.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being AmeriCold Logistics LLC, Deutsche Bahn (DB) Schenker AG, C.H. Robinson Worldwide, Inc., Schneider National, CaseStack, A.N. Deringer, Inc., Echo Global Logistics, Inc., Evans Distribution Systems, Inc., Hellmann Worldwide Logistics SE & Co. KG, Matson Logistics, and Odyssey Logistics & Technology Corporation.
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