According to the recent report by IMARC Group, titled “Food Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global food logistics market size reached US$ 108 Billion in 2019. 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.
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.
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. On account of these factors, the market is expected to witness moderate growth during the forecast period (2020-2025).
- Based on the transportation type, 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal