According to the report, global cold chain market was valued at USD 110.20 billion in 2014 and is expected to reach USD 271.9 billion in 2020, growing at a CAGR of 13.9% between 2015 and 2020. In terms of volume, the global cold chain market stood at 552.09 million cubic meters in 2014. Zion Market Research has published a new report titled “Cold Chain Market (Chilled and Frozen) for Fruits & Vegetables, Bakery & Confectionery, Dairy & Frozen Desserts, Meat, Fish & Seafood, and Other (Sauces, Condiments, Salad Dressings, and Dips) End-users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.
Supply chain management that facilitates the transportation and storage of perishable goods is called as the cold chain. A cold chain is series of storage and distribution activities at the desired temperature. The cold chain is helping to preserve the food and various products such as pharmaceutical and agricultural products. The cold chain market is growing at a rapid pace owing to rising market for frozen food products.
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Cold chain helps to preserve and avoid the wastage of agricultural produce and perishable food products such as meat and fish. The advancements in the pharmaceutical industry are also expected to drive the market for cold chains. Moreover, increasing population of the world has resulted in growing demand for both food and pharmaceuticals. This, in turn, has been resulted into growing need for cold chains.
The end-users segmentation for the global cold chain market includes the various fields like fruits & vegetables, bakery & confectionery, dairy & frozen desserts, meat, fish & seafood and others (including sauces, condiments, salad dressings, and dips). Meat, fish & seafood dominated the global cold chain market compared to others segments in 2014 with around 45% share of the total market.
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The growing import and export industry for the meat, fish, and seafood is highly anticipating segment in the cold chain market. Thus, cold chain storage factor attributed to avoiding wastage of these products is expected to drive the cold chain market in the forecast period.
In 2014, North America led the market and accounted for around 40% share of the market. The APAC region is expected to be the fastest growing region during the forecast period, growing at a CAGR of 17.1%. Rising disposable income, growth in food retail market, and rapidly growing demand for frozen food in the region is expected to trigger the cold chain industry in the years to come.
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Key players involved globally in cold chain market include AmeriCold Logistics, Lineage Logistics, Preferred Freezer Services, and Swire Cold Storage. The other prominent players include A.B. Oxford Cold Storage, Bring Frigoscandia, Burris Logistics, Claus Sorensen, Cloverleaf Cold Storage, ColdEX, Columbia Colstor, Conestoga Cold Storage, Confederation Freezers, Congebec, Dev Bhumi Cold Chain, Fresh and Healthy Enterprises, Frialsa Solutions, Gati Kwe, Gruppo Marconi Logistica Integrata, Hanson Logistics, Henningsen Cold Storage, Interstate Cold Storage, Kloosterboer, Lineage Logistics , Holdings, MUK Logistik, Nichirei Logistics Group, Nordic Cold Storage, Partner Logistics, Ryder System, Snowman Logistics, Trenton Cold Storage, VersaCold Logistics Services.