The Cold Chain Logistics is forecast to substantial growth over the next four years. According to the World Knowledge Information (WKI) âGlobal Cold Chain Logistics Professional Survey Report 2021, Forecast to 2026â, with the increase in demand for fresh fruits and vegetables and other foods, the high demand for cold-chain substances for drugs and technological advancement are expected to promote the development of the cold-chain logistics industry. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 7.6% base on WKI regression analysis model.
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âHigh technology, equipment and energy costs may prevent market promotion.â said Mia, Senior analyst, Service & Software Market Research Center in WKI.â Since the market is largely occupied by major leading companies, it is expected that new entrants will find it difficult to expand the market without newer technologies and other advantages.â
The types of frozen products such as ice cream, meat and seafood are increasing, which is a key factor driving the growth of the global cold chain logistics market. The increasing liberalization of trade and the governmentâs efforts to reduce food waste have created a demand for cold chain logistics to store temperature-sensitive commodities. In addition, with the improvement of new technologies, the use of cold chain logistics in the food and beverage sector can help cope with the decline in food quality. Due to trade restrictions during COVID-19, COVID-19 has affected the supply chain of every industry, causing food manufacturers not only to emphasize food, but also to emphasize its storage to extend its shelf life, which is expected to promote the development of the market. In addition, the development and popularization of COVID-19 vaccines will also be future factors driving market development.
This WKI market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Cold Chain Logistics companies that include Lineage Logistics, AmeriCold Logistics, Burris Logistics, Snowman Logistics and others.
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Segmentation of Cold Chain Logistics Market:
According to the temperature, the market is divided into two types: cold storage and freezing. During the forecast period, the refrigeration market of the global cold chain logistics market is expected to grow at the highest compound annual growth rate. The freezing of food helps to slow down the deterioration of food and further increase the storage life and quality of food. According to the application, the market is divided into fruits and vegetables, dairy products (milk, butter, cheese, ice cream, etc.), medicines (including biopharmaceuticals), bread and candy, fish, meat and seafood, processed foods and others. During the forecast period, the dairy and pharmaceutical sectors in the global cold chain logistics market are expected to grow at a higher rate. Cold chain logistics is necessary to maintain the quality of dairy products and medicines. The cold chain ensures that low temperatures are maintained throughout the supply chain, which is required for dairy products and pharmaceuticals.
Cold Chain Logistics Market: Regional Analysis
In terms of geography, the global Cold Chain Logistics market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to occupy a major share of the cold chain logistics market. During the forecast period, North Americaâs high penetration rate is driving the cold chain logistics market. Increasing urbanization and industrialization have also promoted market growth in the region. As the United States has more market leaders, it is predicted that it will dominate the market in this region. Due to the large population and continuous economic and technological development, the Asia-Pacific region is expected to grow at the fastest rate in line with the annual growth rate. Chinaâs more developed e-commerce industry may become the dominant country in the regionâs market.