Cold Chain Market worth $293 billion by 2023

The report "Cold Chain Market by Type (Refrigerated Storage & Transport), Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood; Fruits & Vegetables; Bakery & Confectionery), and Region - Global Forecast to 2023", is estimated to be valued at USD 203 billion in 2018 and is projected to reach a value of USD 293 billion by 2023, growing at a CAGR of 7.6% during the forecast period. The growth of the cold chain market can be attributed to factors such as the growth of international trade of perishable foods, technological advancements in refrigerated storage & transport, government support for the infrastructural development of the cold chain industry, and increase in consumer demand for perishable foods. Additionally, the expansion of organized food retail chains is impacting the growth of the cold chain market positively.

Browse 156 market data Tables and 49 Figures spread through 175 Pages and in-depth TOC on "Cold Chain Market by Type (Refrigerated Storage & Transport), Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood; Fruits & Vegetables; Bakery & Confectionery), and Region - Global Forecast to 2023"
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The dairy & frozen desserts segment is estimated to account for a larger market share, in terms of value, in 2018

Dairy & frozen desserts need of constant temperature control, being temperature-sensitive highly perishable products. The main concern with transporting dairy & frozen desserts is the need for constant temperature control, dust, and exposure to sunlight. Dairy & frozen desserts are witnessing high demand due to economic growth and rapid urbanization, along with sophisticated marketing channels, which have led to significant changes in dietary patterns.

The chilled segment, by temperature type, is estimated to witness faster growth in the cold chain market, in terms of value, in 2018

Chilling reduces the food temperature below the ambient temperature but keeps it above –1°C. Effective short-term preservation of food products is possible using this method since it inhibits microbial, physical, chemical, and biochemical reactions associated with food spoilage and deterioration. Chilled products include crustaceans and shellfish (excluding live ones), cooked dishes & prepared foods, pastry creams, fresh pastries, sweet dishes, egg products, meat & cooked meat, milk, fresh cream, cottage cheese, and curd. This widespread demand and an increase in the application areas are some of the factors due to which the market is projected to witness faster growth.

The refrigerated storage segment, by type, is estimated to account for the largest market share, by value, in 2018

Based on type, the cold chain market is segmented into refrigerated storage and refrigerated transport. Refrigerated storage facilities include a number of refrigerated rooms that are suitable for storing perishable foods and temperature-sensitive goods at different temperature ranges. In the last few years, the market for refrigerated storage has grown significantly; it has shifted from food products stored in cold storage warehouses to the provision of value-added services to customers. Refrigerated storage is expanding briskly with the rising trading of perishable foods, globally.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Government initiatives in the Asia Pacific region are attempting to help improve the cold chain industry through regulations and subsidies, which is leading to the growth of the cold chain market in the region. For instance, the Indian government is promoting the creation of cold chain facilities through its Scheme for Cold Chain, Value Addition and Preservation Infrastructure and Mega Food Park Scheme. Food sector companies, along with the governments, are also contributing to the industry’s development in the region by creating their own distribution networks with capable refrigerated storage and transport facilities.

Consumers in India and China are increasingly shifting towards fast food and convenience foods, which is fueling the growth of supermarkets and quick-service restaurants. This is boosting the sales of consumer-ready frozen foods such as ice creams and frozen desserts, frozen fruits & vegetables, seafood, and meat. To maintain the shelf life of perishable foods, manufacturers and retailers of perishable foods demand refrigerated storage and transport facilities.

Food sector companies, along with the governments, are also contributing to the development of the refrigerated transport market in the Asia Pacific region by creating their own distribution networks with capable refrigerated transport facilities.

This report includes a study on the marketing and development strategies, along with a study on the service offerings of the leading companies operating in the cold chain market. It includes the profiles of leading companies such as Americold Logistics (US), Preferred Freezer (US), Burris Logistics (US), Lineage Logistics (US), and Nichirei Logistics (Japan). Other key players include Swire Cold (Australia), AGRO Merchants (Netherlands), Kloosterboer (Netherlands), and Interstate Cold Storage (US).

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