Global Cold Chain Market Forecasts and Outlook to 2028: A USD 628.26 Billion Market by 2028
DUBLIN, Oct. 29, 2021 /PRNewswire/ -- The "Global Cold Chain Market Size, Share & Trends Analysis Report by Type (Storage, Monitoring Components), by Equipment (Storage, Transportation), by Application (Fish, Meat & Seafood), by Packaging, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global cold chain market size is estimated to reach USD 628.26 billion by 2028., registering a CAGR of 14.8% from 2021 to 2028.
Technological advancements in the packaging, processing, and storage of seafood products are expected to drive the market over the forecast period. Cold chain solutions have become an integral part of Supply Chain Management (SCM) for the transportation and storage of temperature-sensitive products. Increasing trade of perishable products is anticipated to drive product demand over the forecast period.
Companies operating in this market are increasingly adopting alternative energy solutions, such as wind and solar energy, to minimize the overall operating costs. Among cold chain solutions, the refrigeration system is used to maintain the quality of products and enhance their shelf life. However, refrigerants used in refrigeration systems pose a threat to the environment because of their high Global Warming Potential (GWP) and Ozone Depletion Potential (ODP). Stringent food safety regulations, such as the Food Safety Modernization Act that requires increased attention toward the construction of cold storage warehouses, are slated to benefit the market.
Adoption of environmental audit systems, such as Leadership in Energy and Environmental Design (LEED) or Building Research Establishment Environmental Assessment Method (BREEAM), can evaluate designs at an initial stage. Thus, the operational performance of completed buildings can be assessed through these audit systems. Temperature-controlled warehouses are highly energy-sensitive as they incorporate refrigeration and ventilation systems that require high power consumption. However, better designs can reduce power consumption and can help build net-zero energy warehouses.
Intelligent warehouse automation and control systems are one of the factors assisting buildings to achieve net-zero energy to become self-sustainable. Less energy consumption notably lowers operating expenditure, eventually contributing to the protection of ecology and climate. In terms of revenue, North America is anticipated to be the largest regional market by 2028. Mexico is expected to have exponential growth over the forecast period owing to the rising investments for the development of logistics infrastructure and increasing penetration of the Warehouse Management System (WMS).
In South America, Brazil is a major contributor to market growth. Implementation of dietary guidelines on the usage of fresh food products over processed food led by the Brazilian government is expected to boost the market in the country. These guidelines require the development of cold chains to meet the requirements for storage, transportation, and packaging of fresh food. Many service providers have invested in adding onboard tracking equipment to refrigeration units. This provides real-time location and temperature data to shippers and third-party logistics. It further helps them with increased visibility and opportunity to mitigate or prevent losses.
Cold Chain Market Report Highlights
- Due to a shift in focus from increasing productivity to providing better transport and storage facilities, the market has gained prominence in developing countries, such as China and India
- Cold chain monitoring, smart packaging, sample lifecycle management, men and material tracking, and connected equipment are among IoT applications of key importance for the pharmaceuticals industry
- Radio Frequency Identification (RFID)-enabled supply chain provides higher efficiency and has opened up new growth opportunities by offering product-level visibility
- Globalization and rising number of pharmaceutical and food safety counterfeit incidents have compelled governments to tighten regulations pertaining to production and supply
- The Government of India remains keen on supporting the development of the cold chain industry and is encouraging private participation by launching subsidy schemes and offering grants
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Industry Outlook
Chapter 4 Cold Chain Market: Type Estimates & Trend Analysis
Chapter 5 Cold Chain Market: Packaging Estimates & Trend Analysis
Chapter 6 Cold Chain Market: Equipment Estimates & Trend Analysis
Chapter 7 Cold Chain Market: Application Estimates & Trend Analysis
Chapter 8 Cold Chain Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Analysis
Chapter 10 Competitive Landscape
- Americold Logistics LLC
- AGRO Merchant Group
- Burris Logistics, Inc.
- Cloverleaf Cold Storage
- Henningsen Cold Storage Company
- Lineage Logistics, LLC
- Nordic Logistics
- Preferred Freezer
- Swire Group
- 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
For more information about this report visit https://www.researchandmarkets.com/r/mhrep9
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