Cold Chain Logistics Market is estimated to be US$ 482.85 billion by 2030 with a CAGR of 7.50% during the forecast period
Cold Chain Logistics Market accounted for US$ 234.8 billion in 2020 and is estimated to be US$ 482.85 billion by 2030 and is anticipated to register a CAGR of 7.50%. The term "cold chain" refers to a system that combines temperature-controlled surface transportation with a supply chain. It refers to the freezing solutions used to keep things including fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical pharmaceuticals in good condition and with a long shelf life. Cold chains are critical for increasing the shelf life of products, minimising overcapacity, decreasing transportation bottlenecks during peak periods, and ensuring product quality. The procedure entails storing products in temperature-controlled facilities and transporting them in cold-insulated transport vehicles.
The report "Global Cold Chain Logistics Market, By Application Type (Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish & Sea Food, Drugs & Pharmaceuticals, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030’’
Key Highlights:
· Agro Merchants Group (US) extended its operations at its Nashville plant in April 2020 by adding more chilled storage capacity. This choice was made in order to meet the growing demand. The temperature in the new storage facility will be kept between 32 and 38 degrees Fahrenheit. It will increase the emphasis on frozen food storage and management.
· Agro Merchants Group (US) introduced a new drayage service in Southern California in March 2020. This will bring value to its customers while also assisting in the integration of its supply chain. Customer freight will be collected from port terminals in Los Angeles/Long Beach and delivered to Agro's temperature-controlled distribution hub in Los Angeles.
Analyst View:
Hundreds of warehouses with cold chain systems are designed to ensure that temperature-sensitive products are stored and transported in the best possible circumstances. The key linkages that the cold chain solutions system provides are critical to a variety of export sectors. Because end-to-end cold chain security is the weak link in the system, businesses invest millions of dollars in their cold chain operations to build effective, efficient, and dependable processes. A single failure in the logistics network can result in catastrophic product and capital losses. Furthermore, internet grocers are increasing their demand for cold storage.
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Key Market Insights from the report:
Global Cold Chain Logistics Market accounted for US$ 234.8 billion in 2020 and is estimated to be US$ 482.85 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global cold chain logistics market report segments the market on the basis of application type and region.
· Based on Application Type, Global Cold Chain Logistics Market is segmented into Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish & Sea Food, Drugs & Pharmaceuticals, and Other Industries.
· By Region, the Global Cold Chain Logistics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Cold Chain Logistics Market:
The key players operating in the Cold Chain Logistics market are Americold Logistics LLC, SSI Schaefer LLC, Preferred Freezer Services LLC, Burris Logistics LLC, Kloosterboer Group B.V., Lineage Logistics Holding LLC, AGRO Merchants Group, LLC, NewCold Cooperatief U.A., DHL International GmbH and Gruppo Marconi Srl.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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