Cold Chain
Cold Chain Market Forecasts to 2030 - Global Analysis By Type (Storage and Transportation), Component (Hardware, Software and Services), Insulating Material, Temperature, Technology, Application and By Geography
According to Stratistics MRC, the Global Cold Chain Market is accounted for $285.34 million in 2024 and is expected to reach $733.72 million by 2030 growing at a CAGR of 17.3% during the forecast period. The cold chain encompasses the logistics and supply chain processes that maintain and transport products at specific temperature ranges to ensure their quality and safety. It involves temperature-controlled environments for perishable goods such as food, pharmaceuticals, and chemicals from production through distribution and storage. Effective cold chain management is crucial for reducing spoilage, ensuring compliance with regulations, and meeting the growing demand for fresh and safe products globally.
According to the Global Cold Chain Alliance (GCCA), Interstate Warehousing, a business of Tippmann Group, ranked fourth in terms of temperature-controlled space operated in North America in May 2023.
Market Dynamics:
Driver:
Rising international trade of perishable goods
Rising international trade of perishable goods increases the need for efficient temperature-controlled logistics and storage solutions. As global demand for fresh produce, seafood, dairy, and pharmaceuticals grows, exporters and importers invest in advanced cold chain technologies to ensure product quality and safety during transit. This drives market expansion by enhancing infrastructure, improving transport methods, and adhering to stringent regulatory standards, thereby ensuring the integrity of perishable goods across long distances and diverse climates.
Restraint:
Infrastructure & technical complexities
Infrastructure and technical complexities in the cold chain include the need for specialized storage facilities, advanced refrigeration systems, and sophisticated temperature monitoring technologies. These requirements demand significant investment and skilled personnel to maintain optimal conditions for diverse perishable goods. Additionally, inconsistent infrastructure quality across regions can cause disruptions, impacting product integrity and supply chain reliability, thus posing significant challenges to market growth and efficiency.
Opportunity:
Increased consumption of frozen and chilled foods
Increased consumption of frozen and chilled foods drives the cold chain by necessitating advanced refrigeration and logistics solutions to maintain product quality and safety. As demand for perishable items like dairy, meat, and ready-to-eat meals rises, retailers and manufacturers invest in robust cold storage and transportation systems. This expansion ensures temperature control throughout the supply chain, reducing spoilage and meeting consumer expectations for fresh, high-quality products, thereby propelling the growth of the cold chain market.
Threat:
Vendor lock-in
Cold chain operations entail high costs due to the need for specialized infrastructure, energy-intensive refrigeration systems, and stringent quality control measures. The investment required for building and maintaining cold storage facilities, transportation fleets, and temperature monitoring technologies is substantial. These expenses are further compounded by energy costs and the need for skilled personnel. High operational costs can deter potential market entrants, limit infrastructure expansion, and result in elevated prices for cold chain services.
Covid-19 Impact
The covid-19 pandemic significantly boosted the cold chain market, driven by the increased demand for temperature-sensitive pharmaceuticals, including vaccines. Lockdowns and global health measures highlighted the need for efficient logistics and storage solutions for perishable goods. This led to advancements in technology and infrastructure within the cold chain sector. The market experienced rapid growth, with heightened investment in refrigerated transport and storage facilities to ensure the safe distribution of vaccines and maintain the integrity of essential food and medical supplies during the crisis.
The storage segment is expected to be the largest during the forecast period
The storage segment is estimated to have a lucrative growth. Cold chain storage applications are crucial for preserving the quality and safety of perishable products such as food, pharmaceuticals, and biological materials. Advanced refrigeration technologies and climate-controlled warehouses ensure consistent temperature and humidity levels, preventing spoilage and contamination. Innovations in monitoring systems and IoT integration enhance real-time tracking and management of storage conditions, ensuring compliance with regulatory standards and extending the shelf life of sensitive products.
The food & beverages segment is expected to have the highest CAGR during the forecast period
The food & beverages segment is anticipated to witness the highest CAGR growth during the forecast period. In the food and beverages sector, cold chain logistics ensure the freshness and safety of perishable products from farm to table. Advanced refrigeration, insulated transport, and climate-controlled storage prevent spoilage, extending shelf life and maintaining nutritional value. This is crucial for dairy, meat, seafood, fruits, and vegetables. Innovations in real-time temperature monitoring and compliance with stringent food safety regulations enhance efficiency and reduce food waste, meeting consumer demand for high-quality products.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period driven by increasing demand for perishable goods like pharmaceuticals and fresh food. Factors such as urbanization, rising disposable incomes, and expanding e-commerce are fueling this demand. Technological advancements in refrigeration and logistics, along with supportive government policies, are enhancing cold chain infrastructure. Key markets include China, India, Japan, and Southeast Asian countries, with significant investments in cold storage facilities and transportation solutions to maintain product integrity and meet stringent quality standards.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increasing demand in pharmaceuticals, fresh produce, and frozen foods. Factors driving growth include technological advancements, stringent regulatory standards, and a growing focus on food safety and quality. The United States and Canada dominate the market, with significant investments in refrigerated transportation, cold storage facilities, and temperature-monitoring systems. Additionally, the rise of e-commerce and online grocery shopping further fuels market expansion, prompting companies to enhance their cold chain logistics to meet consumer expectations for freshness and convenience.
Key players in the market
Some of the key players profiled in the Cold Chain Market include Sonoco ThermoSafe, Agro Merchant Group, Cryopak Industries Inc., Hanson Logistics, Nordic Logistics, VersaCold Logistics Services, Lineage Logistics, LLC, Americold Logistics LLC, Valor Industries, Cold Box Express, Inc., Burris Logistics, Inc., Softbox Systems Ltd, Cloverleaf Cold Storage, Wabash National, Swire Group, Sofrigam, Csafe, Candor Expedite Inc., Tippmann Group and Maersk.
Key Developments:
In May 2024, Candor Expedite has launched Candor Food Chain, a cold chain division. Candor Food Chain combines the company’s national shipping services with a reusable cold packaging solution that allows pallet and box-sized frozen and refrigerated shipments to go by regular transport and stay frozen or refrigerated for up to nine days.
In April 2024, CSafe launched three new technologies building on its portfolio of solutions integrating real-time data tracking to ensure maximum visibility throughout the shipping journey. CSafe's Multi-Use Dewars, the first in the CGT Cryo Series, are designed to serve the growing cell and gene therapy market.
In January 2024, A.P. Moller - Maersk to strengthen its Cold Chain Logistics footprint with a new cold store facility in Gujarat. The new, state-of-the-art facility at Mehsana will be equipped with the highest standards of temperature compliance, with customised racking system to suit customer’s exact requirements, and modern technology to ensure top-notch operational accuracy.
Types Covered:
• Storage
• Transportation
Components Covered:
• Hardware
• Software
• Services
Insulating Materials Covered:
• Vacuum Insulation Panels (VIP)
• Expanded Polystyrene Insulation (EPS)
• Poly Urethane Rigid Foam (PUR)
Temperatures Covered:
• Chilled
• Frozen
Technologies Covered:
• Blast Freezing
• Vapour Compression Systems
• Evaporative Cooling
• Cryogenic Systems
• Advanced Phase Change Materials (PCMs)
• Ultra-low Temperature (ULT) Freezers
• Other Technologies
Applications Covered:
• Food & Beverages
• Pharmaceuticals & Healthcare
• Chemicals
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cold Chain Market, By Type
5.1 Introduction
5.2 Storage
5.2.1 Refrigerated Warehouses
5.2.2 Cold Rooms
5.3 Transportation
5.3.1 Refrigerated Vehicles
5.3.2 Air Cargo
5.3.3 Sea Freight
5.3.4 Rail Freight
6 Global Cold Chain Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Storage Equipment
6.2.2 Transportation Equipment
6.2.3 Handling Equipment
6.2.4 Tracking Devices
6.2.5 Packaging Materials
6.3 Software
6.3.1 Cloud-based Solutions
6.3.2 On-premise Solutions
6.4 Services
6.4.1 Installation & Integration
6.4.2 Maintenance & Repair
6.4.3 Training & Support
7 Global Cold Chain Market, By Insulating Material
7.1 Introduction
7.2 Vacuum Insulation Panels (VIP)
7.3 Expanded Polystyrene Insulation (EPS)
7.4 Poly Urethane Rigid Foam (PUR)
8 Global Cold Chain Market, By Temperature
8.1 Introduction
8.2 Chilled
8.3 Frozen
9 Global Cold Chain Market, By Technology
9.1 Introduction
9.2 Blast Freezing
9.3 Vapour Compression Systems
9.4 Evaporative Cooling
9.5 Cryogenic Systems
9.6 Advanced Phase Change Materials (PCMs)
9.7 Ultra-low Temperature (ULT) Freezers
9.8 Other Technologies
10 Global Cold Chain Market, By Application
10.1 Introduction
10.2 Food & Beverages
10.3 Pharmaceuticals & Healthcare
10.4 Chemicals
10.5 Other Applications
11 Global Cold Chain Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Sonoco ThermoSafe
13.2 Agro Merchant Group
13.3 Cryopak Industries Inc.
13.4 Hanson Logistics
13.5 Nordic Logistics
13.6 VersaCold Logistics Services
13.7 Lineage Logistics, LLC
13.8 Americold Logistics LLC
13.9 Valor Industries
13.10 Cold Box Express, Inc
13.11 Burris Logistics, Inc.
13.12 Softbox Systems Ltd
13.13 Cloverleaf Cold Storage
13.14 Wabash National
13.15 Swire Group
13.16 Sofrigam
13.17 Csafe
13.18 Candor Expedite Inc.
13.19 Maersk
13.20 Tippmann Group
List of Tables
1 Global Cold Chain Market Outlook, By Region (2022-2030) ($MN)
2 Global Cold Chain Market Outlook, By Type (2022-2030) ($MN)
3 Global Cold Chain Market Outlook, By Storage (2022-2030) ($MN)
4 Global Cold Chain Market Outlook, By Refrigerated Warehouses (2022-2030) ($MN)
5 Global Cold Chain Market Outlook, By Cold Rooms (2022-2030) ($MN)
6 Global Cold Chain Market Outlook, By Transportation (2022-2030) ($MN)
7 Global Cold Chain Market Outlook, By Refrigerated Vehicles (2022-2030) ($MN)
8 Global Cold Chain Market Outlook, By Air Cargo (2022-2030) ($MN)
9 Global Cold Chain Market Outlook, By Sea Freight (2022-2030) ($MN)
10 Global Cold Chain Market Outlook, By Rail Freight (2022-2030) ($MN)
11 Global Cold Chain Market Outlook, By Component (2022-2030) ($MN)
12 Global Cold Chain Market Outlook, By Hardware (2022-2030) ($MN)
13 Global Cold Chain Market Outlook, By Storage Equipment (2022-2030) ($MN)
14 Global Cold Chain Market Outlook, By Transportation Equipment (2022-2030) ($MN)
15 Global Cold Chain Market Outlook, By Handling Equipment (2022-2030) ($MN)
16 Global Cold Chain Market Outlook, By Tracking Devices (2022-2030) ($MN)
17 Global Cold Chain Market Outlook, By Packaging Materials (2022-2030) ($MN)
18 Global Cold Chain Market Outlook, By Software (2022-2030) ($MN)
19 Global Cold Chain Market Outlook, By Cloud-based Solutions (2022-2030) ($MN)
20 Global Cold Chain Market Outlook, By On-premise Solutions (2022-2030) ($MN)
21 Global Cold Chain Market Outlook, By Services (2022-2030) ($MN)
22 Global Cold Chain Market Outlook, By Installation & Integration (2022-2030) ($MN)
23 Global Cold Chain Market Outlook, By Maintenance & Repair (2022-2030) ($MN)
24 Global Cold Chain Market Outlook, By Training & Support (2022-2030) ($MN)
25 Global Cold Chain Market Outlook, By Insulating Material (2022-2030) ($MN)
26 Global Cold Chain Market Outlook, By Vacuum Insulation Panels (VIP) (2022-2030) ($MN)
27 Global Cold Chain Market Outlook, By Expanded Polystyrene Insulation (EPS) (2022-2030) ($MN)
28 Global Cold Chain Market Outlook, By Poly Urethane Rigid Foam (PUR) (2022-2030) ($MN)
29 Global Cold Chain Market Outlook, By Temperature (2022-2030) ($MN)
30 Global Cold Chain Market Outlook, By Chilled (2022-2030) ($MN)
31 Global Cold Chain Market Outlook, By Frozen (2022-2030) ($MN)
32 Global Cold Chain Market Outlook, By Technology (2022-2030) ($MN)
33 Global Cold Chain Market Outlook, By Blast Freezing (2022-2030) ($MN)
34 Global Cold Chain Market Outlook, By Vapour Compression Systems (2022-2030) ($MN)
35 Global Cold Chain Market Outlook, By Evaporative Cooling (2022-2030) ($MN)
36 Global Cold Chain Market Outlook, By Cryogenic Systems (2022-2030) ($MN)
37 Global Cold Chain Market Outlook, By Advanced Phase Change Materials (PCMs) (2022-2030) ($MN)
38 Global Cold Chain Market Outlook, By Ultra-low Temperature (ULT) Freezers (2022-2030) ($MN)
39 Global Cold Chain Market Outlook, By Other Technologies (2022-2030) ($MN)
40 Global Cold Chain Market Outlook, By Application (2022-2030) ($MN)
41 Global Cold Chain Market Outlook, By Food & Beverages (2022-2030) ($MN)
42 Global Cold Chain Market Outlook, By Pharmaceuticals & Healthcare (2022-2030) ($MN)
43 Global Cold Chain Market Outlook, By Chemicals (2022-2030) ($MN)
44 Global Cold Chain Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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