Cold Chain Market to Hit $986.91 Billion by 2030: Grand View Research, Inc.

News provided by

Oct 11, 2022, 07:30 ET

SAN FRANCISCO, Oct. 11, 2022 /PRNewswire/ -- The global cold chain market is expected to reach USD 986.91 billion by 2030, registering a CAGR of 17.1%, according to a new report by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.

Key Industry Insights & Findings from the report:

Low carbon design, environmental auditing, and construction of energy-efficient cold storage warehouses are anticipated to fuel the demand for cold storage.
Growing supermarket shopping culture and rising consumer preference toward private labels are the key factors for the expansion of food retail chains across the globe.
The cold packs segment is anticipated to register a CAGR of 21.0%. The growth is attributed to the significant changes in the living standards and food consumption behavior of consumers.
The processed food application is anticipated to witness a high CAGR of 19.1% over the projected period.
The primary source markets for cold chain are the U.S., Canada, Germany, China, the U.K., India, France, Japan, and South Korea. The U.S. will be the primary source market for cold chain providers.
The market in Japan is becoming increasingly saturated, resulting in cold storage operators in the country seeking avenues to enhance international trade.
Key players in the market include Americold Logistics LLC, Agro Merchant Group, Burris Logistics, Inc., Henningsen Cold Storage Company, Lineage Logistics, LLC, Nordic Logistics, Preferred Freezer, Wabash National, Cold Chain Technologies, Inc., Cryopak Industries Inc., Creopack, Cold Box Express, Inc., Intelsius, Nilkamal Limited, Sofrigam, Softbox Systems Ltd., Sonoco ThermoSafe, Valor Industries, and va Q tec AG.

Read 350 page full market research report for more Insights, "Cold Chain Market Size, Share & Trends Analysis Report By Type (Storage, Monitoring Components), By Equipment (Storage, Transportation), By Application (Fish, Meat & Seafood), By Packaging, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Cold Chain Market Growth & Trends

Organized retail stores use better refrigeration and improved storage technology than traditional stores. Thus, consumers are increasingly purchasing frozen foods from these retail stores. With the increased demand for chilled and frozen foods and the rapidly expanding organized retail sector, the demand for cold storage solutions is expected to grow over the projected period. Organized retail supports different outlet formats depending on spending power and proximity to major residential and consumption clusters.

The offline mode of organized retailing is categorized into convenience stores, supermarkets, and hypermarkets based on product range and surface coverage. On the other hand, the lack of power hook-ups for reefer trailers at transportation hubs and ports coupled with the lack of reliable power supply for cold warehouses further increases the operating costs.

However, this also offers opportunities for companies to develop unique solutions or leverage alternative energy sources that can overcome these issues in emerging markets. Furthermore, new transportation means, such as versatile refrigerated containers, are being developed to overcome the lack of adequate transportation facilities. These solutions can provide access to international markets and offer opportunities for farmers and small-scale businesses in these regions.

Cold Chain Market Segmentation

Grand View Research has segmented the global cold chain market on the basis of type, packaging, equipment, application, and region.

Cold Chain Market - Type Outlook (Revenue, USD Million; 2017 - 2030)

Storage

Warehouses

On-grid
Off-grid

Reefer Containers

Transportation

Road
Sea
Rail
Air

Monitoring Components

Hardware

Sensors
RFID Devices
Telematics
Networking Devices

Software

On-premise
Cloud-based

Cold Chain Market - Packaging Outlook (Revenue, USD Million; 2017 - 2030)

Product

Crates

Dairy
Pharmaceuticals
Fishery
Horticulture

Insulated Containers & Boxes

Payload Size

Large (32 to 66 liters)
Medium (21 to 29 liters)
Small (10 to 17 liters)
X-small (3 to 8 liters)
Petite (0.9 to 2.7 liters)

Type

Cold Chain Bags/Vaccine Bags
Corrugated Boxes
Others

Cold Packs
Labels
Temperature-controlled Pallet Shippers

Materials

Insulating Materials

EPS
PUR
VIP
Cryogenic Tanks
Others (Insulating Pouches, Hard Cased Thermal Boxes, and Active Thermal Systems)

Refrigerants

Fluorocarbons

Inorganics
Ammonia

CO2
Hydrocarbons

Cold Chain Market Equipment Outlook (Revenue, USD Million; 2017 - 2030)

Storage Equipment

On-grid

Walk-in Coolers
Walk-in Freezers
Ice-lined Refrigerators
Deep Freezers

Off-grid

Solar Chillers
Milk Coolers
Solar-powered Cold Boxes
Others (Solar Refrigerators and Products related to Solar Panels)

Transportation Equipment

Cold Chain Market - Application Outlook (Revenue, USD Million; 2017 - 2030)

Fruits & Vegetables
Fruit Pulp & Concentrates
Dairy Products

Milk
Butter
Cheese
Ice cream

Fish, Meat, and Seafood
Processed Food
Pharmaceuticals

Vaccines
Blood Banking

Bakery & Confectionary
Others (Ready-to-Cook, Poultry)

Cold Chain Market - Regional Outlook (Revenue, USD Million; 2017 - 2030)

North America

U.S.
Canada
Mexico

Europe

U.K.
Germany
France
Italy
Spain

Asia-Pacific

China
India
Japan
Singapore
South Korea

South America

Brazil

Middle East

UAE
Saudi Arabia
Israel

Africa

South Africa
Nigeria
Egypt
Kenya

List of Key Players in Cold Chain Market

Agro Merchant Group (U.S.)
Nordic Logistics and Warehousing, LLC (U.S.)
Preferred Freezer Services, LLC (U.S.)
Cold Chain Technologies, Inc. (U.S.)
Cryopack Industries, Inc. (U.S.)
Creopack (Canada)
Cold Box Express, Inc. (U.S.)

Check out more related studies published by Grand View Research:

Cold Chain Monitoring Market - The global cold chain monitoring market size is projected to reach USD 45.1 billion by 2025, registering a CAGR of 18.1% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for pharmaceutical products, processed food, and other temperature-sensitive products worldwide is driving the demand for cold chain monitoring solutions. Stringent regulations regarding the storage and shipment of pharmaceutical products coupled with the continued investments from government agencies as well as the private sector companies in rolling out cold storage warehouse networks are also expected to drive the market growth.
Pharmaceutical Logistics Market - The global pharmaceutical logistics market size is estimated to reach USD 163.9 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. The market growth is primarily driven by the rising demand for a variety of drugs as a result of increasing cases of chronic and lifestyle-related diseases. The market is expected to witness a high growth rate in cold-chain and non-cold chain pharmaceutical logistics owing to the impact of COVID-19 across the globe. During this pandemic situation, the government and officials across countries are primarily focusing on preventive measures and the treatment of patients. The import and export of various medicines to treat coronavirus are increasing across all countries, including U.S. and China.
Cold Storage Market - The global cold storage market size is expected to reach USD 372.29 billion by 2030, registering a CAGR of 13.4%, according to a new study conducted by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter