According to the recent report by IMARC Group, titled “North America Cold Chain Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the North America cold chain market size reached US$ 88.5 Billion in 2019. Cold chain refers to the process of storing and transporting temperature-sensitive products from the manufacturing facility to end users. It includes an uninterrupted series of refrigerated production, storage, and distribution activities, along with logistics. Cold chain logistics is used to preserve the shelf life of the products like frozen foods, pharmaceutical products, agricultural produce, and seafood. It also helps in reducing waste, maintaining the quality of the product, and preventing contamination. As a result, it has become crucial for trading health supplies, as well as food products, from one place to another.
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.
North America Cold Chain Market Trends:
With rising lifestyle diseases like obesity in North America, the demand for pharmaceutical drugs is consequently growing. In order to ensure the efficacy of healthcare products, such as vaccines, biopharmaceuticals and clinical trial materials, manufacturers and logistics providers are increasingly required to utilize cold chain facilities. Apart from this, hectic schedules of the working population have increased the dependency on the internet for ordering fresh fruit and vegetable supplies from online retail channels. This has led to the rising demand for cold chain logistics in the North American region to deliver the products in perfect condition. Furthermore, manufacturers are incorporating the latest technologies such as advanced radio frequency identification (RFID) technology and the internet of things (IoT), as they offer cost benefits and a seamless connection at every step of the process. On account of these factors, the market is expected to experience strong growth during the forecast period (2020-2025).
Market Summary:
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