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).
- On the basis of the service type, the market has been bifurcated into refrigerated storage and transport. Among these, refrigerated storage is the most popular service type.
- Based on the transportation, airways account for the largest market share. Other transportation types include roadways, railways, and seaways.
- Based on the temperature, the chilled segment exhibits a clear dominance, followed by the frozen segment.
- Based on the end user, the market has been divided into fruits and vegetables; meat and seafood; dairy and frozen products; bakery and confectionery; pharmaceuticals; and others. Currently, the meat and seafood segment holds the majority of the market share.
- Country-wise, the market has been classified into the United States and Canada. At present, the United States represents the leading market.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being VersaCold Logistics Services, AGRO Merchants Group, United States Cold Storage, Inc., Americold Logistics, and Lineage Logistics.
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