A cold chain is a temperature controlled supply chain that involves storage and transportation of temperature-sensitive perishable goods. It helps in preserving and extending the shelf life of various products including sea food, agricultural food, pharmaceuticals and chemicals. Global cold chain market is mainly driven by increasing demand of efficient storage system to avoid wastage of food products. Moreover, global increase in frozen food demand has resulted into growing need for cold chains. Rapid growth in frozen food market is also estimated drive cold chain market in the near future. On the flipside, high cost of storage and power tends to limit the growth of this industry. Despite of such hindrances, the market is projected to reach $XX billion by 2021.
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The global cold chain market is segmented on the basis of mode of transport into road, rail, marine and air. By application, the market is classified into food & beverages, pharmaceuticals, and chemicals. Pharmaceuticals and food & beverages are major applications of cold chain services. Technologies used in cold chain market are vapor blown compression systems, air blown evaporators and eutectic devices. The global cold chain market is estimated to grow at a CAGR of XX% during the forecast period 2016-2021.
The overall cold chain market is also presented from the perspective of different geographic regions namely- North America, Europe, Asia-Pacific and Rest of the World. North America is the dominant market which held more than one-third share in 2015. In Europe, Germany is one of the largest markets due to the increased consumption of frozen foods. Asia-Pacific is projected to witness brisk cold chain market growth owing to strong demand from developing nations such as India and China.
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Cold chain market in 2015 was dominated by major companies namely:
- Americold Logistics (U.S.)
- Burris Logistics (U.S.)
- Cloverleaf Cold Storage (U.S.)
- Henningsen Cold Storage Company (U.S.)
- Kloosterboer Group B.V. (The Netherlands).
These companies have considerable brand image and wide range of services in cold chain industry.
Other players in the market are:
- 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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