The Cold Chain Market is supposed to have a proper logistic planning of temperature sensitive products through thermal and refrigerated packaging methods. The cold chain is applied to chilled and frozen foods for increasing their shelf life and maintaining a standard quality for a long time.
The Cold Chain Market maintains the biochemical and physical properties of the frozen foods and regulates the market price in off season. It prevents the product from loss and reduces the waste which in turn increases the income of the manufacturer. For maintain fresh food in the coming years, there must be a cold chain logistics system. This triggers the demand of cold chain packaging across the world.
Scope & Regional Forecast of the Cold Chain Market
The Cold Chain Market has a lot of growth potential. North America has the largest share since there is a growth in demand of chilled and frozen foods in western countries. Increasing demand for dairy products, vegetables, and fruits heading towards export form is also another factor for the cold chain management demand.
Advancements in the cold chain system and growing demand from developing nations from India and China is boosting the Cold Chain Market. Growth in the pharmaceutical industry and introduction of new health care products that need storage and transportation at different temperatures contribute to the growth of the market.
The Cold Chain Market is driven by initiatives taken by the governments worldwide for the development of cold chain solutions. The need for transportation facilities, cold storage and increasing activities of export and import have resulted in capital investments by the players. This impacts the market for the food industry.
The rising population has resulted in a growing demand for processed foods which fuels the demand for the Cold Chain Market. The development in international trade of the perishable food products will influence the growth of the cold chain process. But lack of funds and underdeveloped cold chain infrastructure in developing economies restrict the development of cold chain packaging systems.
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Segmentations & Key Players Involved in the Cold Chain Market
- The Cold Chain Market can be broken down into various segmentations on the basis of –
- Type- Refrigerated storage and Refrigerated transport.
- Application- Fruits & vegetables, Bakery & confectionery, Dairy & frozen desserts, Fish, meat, & seafood, others (sauces, condiments, salad dressings, and dips).
- Region- North America, Europe, Asia-Pacific, and RoW.
Some of the key players involved in the Cold Chain Market are as follows:
- Agro Merchants Group (U.S.)
- Lineage Logistics Holdings LLC (U.S.)
- Nichirei Logistics Group Inc. (Japan)
- Preferred Freezer Services (U.S.)
- Swire Cold Storage Ltd. (Australia).
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