Perishable Goods Transportation Market to grow by USD 7.43 billion from 2022 to 2027 | The technological advances in freight management to drive the growth- Technavio

NEW YORK, Oct. 6, 2023 /PRNewswire/ -- The perishable goods transportation market is expected to grow by USD 7.43 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 7.75% during the forecast period. The market is segmented by product (MPS, dairy, fruits and vegetables, and bakery and confectionery), mode of transportation (road transportation, air transportation, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The technological advances in freight management are a key factor driving market growth. Temperature monitoring devices have become Smart Devices because of the development of technologies such as the Internet of Things GPS and global positioning systems. Temperature and humidity monitoring devices have been put in place by companies such as DHL. The device will immediately report temperature and humidity, helping to monitor the product remotely. This will contribute to greater transparency between customers and shipping companies. Additionally, to reduce carbon emissions, suppliers such as Kuehne Nagel Management AG have begun developing motorless refrigerated containers. The transport of perishables has been made more efficient and environmentally friendly because of these technological developments. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the development of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the perishable goods transportation market: AP Moller Maersk AS, Bay and Bay Transportation, C H Robinson Worldwide Inc., CMA CGM SA Group, Columbian Logistics Network, Compagnie Fruitiere, COSCO Shipping Co. Ltd., CRST The Transportation Solution Inc., Deutsche Bahn AG, Deutsche Post AG, FST Logistics, Hapag Lloyd AG, Hellmann Worldwide Logistics SE and Co KG, Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, MITSUI and CO. LTD., Orient Overseas Container Line Ltd., Swift Cargo Pvt. Ltd., VersaCold Logistics Services, and Wincanton Plc
• The Perishable Goods Transportation Market is fragmented in nature.
• Market to observe 7.12% YOY growth in 2023.

Market Dynamics:

Major Trend

• The introduction of cloud technologies, artificial intelligence, and the Internet of Things in freight is the major trend in the market.
• Many companies leverage cutting-edge technology, including sensors that can monitor temperature and humidity, generating large volumes of data.
•  This data is a valuable resource for predictive analytics, providing insights into the occurrence and timing of reefer container failures. 
• This is due to businesses that can proactively plan maintenance and make informed decisions about freight management.
•  Additionally, market participants such as Intratab have introduced applications and labels that support real-time tracking of perishable shipments, thereby improving the overall efficiency and reliability of the logistics process.
• Hence, these factors are expected to drive market growth during the forecast period. 

Significant Challenge

• The safety issues of perishable goods are significant challenges restricting market growth.
• Perishable goods are susceptible to damage and deterioration and require careful handling during transportation.
•  Any problems at various stages of the transport process can lead to food safety issues.
•  Furthermore, perishable foods must be adequately cooled before being placed in refrigerated containers to maintain product quality. Direct transfer without adequate cooling may have adverse effects.
•  Preventative maintenance measures, including refrigeration system inspections before and during transport, are essential to ensure cargo integrity.

•  Food and Drugs Administration FDA in 2016 introduced rules for food transport that aim to ensure the safety of foodstuffs while being transported.
• Hence, these factors are expected to restrict market growth during the forecast period. 

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

The MPS segment is estimated to witness significant growth during the forecast period. In recent years, there has been a significant increase in meat production and consumption worldwide. In 2020, chicken will be the most consumed meat, accounting for 34% of total meat production. Pork accounts for approximately 42% of meat consumption, with chicken and beef making up the remainder. In addition, a growing awareness of its health benefits has contributed to an increase in the consumption of fish. Omega 3 fatty acids, proteins, and other important vitamins have been found in fish. With these benefits, people have started consuming more seafood, leading to a global demand for seafood. Hence, these factors are expected to drive segment growth during the forecast period. 

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Related Reports:

The Smart Transportation Market size is estimated to grow at a CAGR of 15% between 2022 and 2027. The market size is forecast to increase by USD 108.12 billion.

The Food Trucks Market size is estimated to grow at a CAGR of 5.87% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,409.73 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Mode Of Transportation

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio