Cold Chain Market

Cold Chain Market was valued at USD 266.9 billion in 2022 and is forecast to touch USD 508.8 billion in 2030, and the market is expected to grow at a CAGR of 8.4% from 2023-2030 due to increasing demand for convenience food products with high shelf life.

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Important Cold Chain Market Drivers

Global Cold Chain Market growth is attributed to increasing demand for perishable food items, rise in the organized retail outlets in developing countries and growing awareness amongst consumers about reducing food wastage. Consumers are getting more concerned about their health and fitness and started to recognize the importance of nutrients for overall health. People are increasing consumption of fruits and vegetables and dairy products on a regular basis thereby increasing the demand of fruits and vegetables throughout the year driving the demand for Cold Chain Market in forecast year. Additionally, Governments worldwide are introducing policies to reduce food and agricultural waste and support cold chain industry, which is generating growth opportunities for Cold Chain Market. For instance, government of India launched PM Kisan SAMPADA Yojana, which aims at reducing wastage of agricultural product and accelerate the food processing industry in India. Some of the components of PM Kisan SAMPADA Yojana scheme focus on creating integrated cold chain and value addition infrastructure, mega food parks and expanding food processing and preservation capacities in the country.

Growing need for temperature control to avoid food loss or wastage across the globe. Food wastage are caused due to the lack of cold chains during processing, packaging, distribution and consumption. As per the UNEP 2021, 17% of food produced for human consumption are wasted, cost USD 936 billion every year worldwide. For instance, food production loss is 526 million tons due to the lack of the proper refrigeration which 12% of the global food production as per the International Institute of Refrigeration 2021. As per the UNEP 2022, India farmers suffers from financial losses approx. 12,520 Mn every year because of the inadequate cold chain facilities and lack of energy infrastructure. The Indian government launched various schemes such as Mission for integrated development of horticulture and Pradhan Mantri kisan SAMPADA yojana to provide financial help for establishing the cold storages and to reduce the gap between available resources and cold storage capacity.

Cold chain is gaining popularity in food and beverage industry because it helps in preventing degradation of food’s quality, which is contributing towards the market growth. Consumers are preferring to purchase products online rather than visiting stores, because online platforms are open 24*7, offers greater variety of products and provides home delivery services. As a result, consumers are purchasing perishable goods through e-commerce platforms and other online grocery stores, which is opening new opportunities and creating more challenges in the Cold Chain Market. These challenges and opportunities include need for innovative solutions to provide last-mile delivery to consumers, increasing need for automated warehouses to manage inventories and modern temperature monitoring systems to maintain safety of food products. However, growing environmental concerns related to greenhouse gas emissions and high operational costs may hinder the global cold chain market. In addition, the lack of standardization and extensive operational and infrastructure costs might obstruct the market growth.

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Based on Type, Refrigerated Storage is projected to grow at a higher CAGR attributed to increasing demand for frozen and convenience food products.

Surge in the trade of perishable commodities amongst countries is pushing the demand for high cube, refrigerated trailers and advanced refrigerated trucks and vehicles for transporting products, is one of the major factors propelling the segment’s growth. Growing preference for packaged food along with the increasing change in the lifestyle and dietary pattern of consumers are boosting the frozen food market. This results in increase in demand for storage solutions across the globe.

Based on Temperature Type, Chilled segment is forecast to grow at fastest rate

Chilling process is important for chilled products who are going through cold chain, because it slows down rate of growth microorganisms, which helps in reducing spoilage improves quality. In addition, cold chain for chilled and frozen foods offers uninterrupted handling of products and also maintains low- temperature environment at each stage of the value chain.

According to Cold Chain Market Report Dairy & Frozen Desserts segment is estimated to hold the largest market share.

Frozen and dairy products in the food and beverage industry are increasingly transported using cold chain logistics because it maintains low temperature between -18* to 4*C and maintain quality of the products.

Some of the technologies used in global cold chain market includes Blast freezing, vapor compression, programmable logic controller (PLC), evaporating cooling and cryogenic systems. The evaporating cooling storage system is efficient, more affordable, and easy to operate.

Food and vegetables segment is expected to grow at the fastest rate during the forecast period owing to the increasing need to maintain the quality of fruit and vegetables and to maintain freshness during the transportation and storage. Factors such as increasing demand for organic produce, globalization of trade, growing need for fresh produce and reduction of food wastage are boosting the market growth of the fruit and vegetable segment. In addition, cold chain plays a vital role in maintaining the nutritional value of fresh produce in order to meet the increasing demand for high quality of freshly produced.

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Based on Region, Asia-Pacific is projected to dominate the market

Asia-Pacific Cold Chain Logistics Market is driven by rapid economic growth across India, China and Australia, increasing industrialization, increasing adoption of advanced warehouse management tools and systems and presence of large agricultural production base. Furthermore, increasing demand for perishable food among consumers and various government initiatives in the food industry, is driving the market growth. Leading players such as Nichirei Corporation, Lineage Logistics Holdings, LLC, Swire Group and Agro Merchants Group, are planning to expand their product portfolio in this region, which is estimated to have a positive impact on region’s growth. North America cold chain Market is driven by increasing demand for fresh fruits and vegetables by population and rising penetration of connected devices.

Biggest Cold Storage Companies

Various notable players operating in the Global Cold Chain Logistics Market includes Americold Logistics LLC, Lineage Logistics Holdings, LLC, Nichirei Corporation, Swire Group, Kloosterboer Group B.V., Interstate Cold Storage, Inc., Burris Logistics, Inc., Henningsen Cold Storage Company, Tippmann Group, among others. Prominent players are adopting various strategies such as new product launches, agreements, mergers, investments, collaborations, and acquisitions to increase their presence in the global cold chain market.

Key Developments:

• • In 2023, Americold Logistics planned to invest USD 3.9 million in RSA clod chain in Dubai. Through this investment, the company planned to expand their operations across the Middle East region and India.
  • In 2022, Lineage Logistics completed the acquisition of Grupo Fuentes. Through this acquisition, the company planned to strengthen its footprint for fresh produce and cold storage distribution in Europe market.
  • In December 2021, Interstate Cold Storage, Inc., announced plans for expanding its Cold Storage Warehouse Facility in Anderson, IN. This expansion will bring total facility size to over 400,000 square feet, with 24,000 pallet positions added to the building.
  • In November 2020, Americold completed the acquisition of New Jersey-based Hall’s Warehouse Corp., for USD 480 million. Through this acquisition completed acquisition of high-quality facilities, which are located near port of Newark.
  • In February 2019, Lineage Logistics Holdings, LLC acquired Preferred Freezer Services to cater to the growing demand for cold storage across the globe. This acquisition will expand company’s capability for investing in next-generation technologies, while using combined intellectual property.
  • In 2018, Burris Logistics, Inc. expanded its business and opened a public refrigerated warehouse near Atlanta.

Segments Covered in the Report:

The global cold chain market has been segmented on the basis of type, temperature type, application, technology and key regions. Based on type, the market is segmented into refrigerated storage and refrigerated transport. Based on temperature type, the market is segmented into chilled and frozen. Based on application, the market is segmented into dairy & frozen desserts, fish, meat and seafood products, fruits & vegetables, bakery & confectionery products and others. Based on technology, the market is segmented into blast freezing, vapor compression, programmable logic controller (PLC), evaporating cooling, cryogenic systems and others.

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Market Segmentation

Global Cold Chain Market by Type

• • Refrigerated Storage
  • Refrigerated Transport

Global Cold Chain Market by Temperature Type

• • Chilled
  • Frozen

Global Cold Chain Market by Application

• • Dairy & Frozen Desserts
  • Fish, Meat and Seafood Products
  • Fruits & Vegetables
  • Bakery & Confectionery Products
  • Others

Global Cold Chain Market by Technology

• • Blast Freezing
  • Vapor Compression
  • Programmable Logic Controller (PLC)
  • Evaporating Cooling
  • Cryogenic Systems
  • Others

Global Cold Chain Market by Region

• • North America Cold Chain Market (Option 1: As a part of the free 25% customization)

• • • By Type
    • By Temperature Type
    • By Application
    • By Technology
    • US Market All-Up
    • Canada Market All-Up
    • Europe Cold Chain Market

• • Europe Cold Chain Market (Option 2: As a part of the free 25% customization)

• • • By Type
    • By Temperature Type
    • By Application
    • By Technology
    • UK Market All-Up
    • Germany Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Cold Chain Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Temperature Type
    • By Application
    • By Technology
    • China Market All-Up
    • Australia Market All-Up
    • India Market All-Up
    • Rest of APAC Market All-Up

• • ROW Cold Chain Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Temperature Type
    • By Application
    • By Technology
    • Brazil Market All-Up
    • South Africa Market All-Up
    • GCC countries Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading market players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Americold Logistics LLC
  • Lineage Logistics Holdings, LLC
  • Nichirei Corporation
  • Swire Group
  • Agro Merchants Group
  • Kloosterboer Group B.V.
  • Interstate Cold
  • Burris Logistics, Inc.
  • Henningsen Cold Storage Company
  • Tippmann Group