NEW YORK, Feb. 6, 2017 /PRNewswire/ --
"Cold chain market projected to grow at a CAGR of 7.0% during the forecast period"
The cold chain market is estimated to be valued at USD 189.92 billion in 2017 and is projected to reach a value of USD 271.30 billion by 2022. The primary factors driving the global success of cold chain is growth in international trade for perishable food products, expansion of food retail chains by multinationals, and government support for the infrastructural development of the cold chain industry. On the other hand, factors such as high energy and infrastructure costs are restraining the growth of the cold chain market.
"Fruits & vegetables segment projected to grow at the highest rate"
The fruits & vegetables segment is estimated to be the fastest growing market during the forecast period of 2017 to 2022. Frozen fruits & vegetables can be stored for a longer period of time with minimal wastage, owing to which this segment is projected to grow at the highest rate. Cold chain also plays a key role in the storage and transport of meat, fish & seafood as they require refrigeration immediately after slaughter, during processing, and during packaging.
"Chilled segment projected to grow at the highest CAGR during the forecast period"
The chilled segment, on the basis of temperature type, is estimated to be the fastest growing market during the forecast period. The chilled segment is expected to grow due to the wide usage of chilled temperatures for food preservation to extend the shelf life from a few days to a few weeks. Chilling provides effective short-term preservation of food products by retarding numerous microbial, physical, chemical, and bio-chemical reactions associated with food spoilage and deterioration.
"India: The future of the cold chain industry
"The cold chain market is segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region is projected to be the fastest-growing market during the forecast period. The market is growing in this region due to the increasing disposable income of the people, the changing consumption patterns, and increasing expansions and acquisitions of key players such as Americold Logistics (U.S.), Preferred Freezer Services (U.S.), and Nichirei Logistics Group Inc. (Japan) in South Africa and Thailand for profitable returns. The Indian government is encouraging the setting up of cold storage facilities by providing subsidized power tariffs, public-private partnerships, and awareness campaigns to ensure year-round availability of perishable food products and reasonable prices to consumers with equitable distribution throughout the country. The increasing working class population in India is one of the major drivers for growth in the food & beverages market, which in turn creates an opportunity for cold chain service providers.
Break-up of primaries:
- By Company Type: Tier 1 – 45 %, Tier 2 – 25%, and Tier 3 – 30%
- By Designation: C level – 55%, Director level – 30%, and Others – 15%
- By Region: North America - 45%, Europe – 25%, Asia-Pacific – 18%, and RoW – 12%
The global market for cold chain is dominated by large players such as Americold Logistics (U.S.), Preferred Freezer Services (U.S.), Burris Logistics (U.S.), Lineage Logistics Holding LLC (U.S.), and Nichirei Logistics Group Inc., Ltd. (Japan). Other players include AGRO Merchants Group, LLC (U.S.), Cloverleaf Cold Storage (U.S.), Kloosterboer Group (Netherlands), Swire Cold Storage Ltd (Australia), and Interstate Cold Storage Inc. (U.S.).
The cold chain market has been segmented on the basis of type, temperature type, application, and region. In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global cold chain market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
- To get an overview of the global cold chain market
- To get an overview of the key players of the cold chain industry and service portfolios and key strategies adopted by key players to attain the market presence
- To gain insights of the major regions in which the cold chain market is flourishing
- To gain knowledge of the growth of various food products in cold chain
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