Cold Chain Logistics Market to Hit $782.27 Billion by 2031: Allied Market Analysis
WILMINGTON, DELAWARE, UNITED STATES, September 7, 2023/EINPresswire.com/ — The chilly chain logistics business is a temperature-controlled provide chain that gives an uninterrupted chain of distribution and storage exercise during which a given temperature is maintained all through the chain. It’s primarily used to take care of & lengthen the lifetime of merchandise resembling contemporary agricultural merchandise, seafood, frozen meals, photographic movie, chemical substances, and pharmaceutical merchandise. Monitoring, storing, and transporting are the essential elements within the chilly chain to stop degradation within the high quality of the shipments. Presently, the chilly chain logistics business dimension is anticipated to witness important progress, owing to the rise within the want for chilly chain administration within the pharmaceutical business.
The worldwide chilly chain logistics market was valued at $202.17 billion in 2020, and is projected to succeed in $782.27 billion by 2030, registering a CAGR of 14.6% from 2021 to 2030.
Asia-Pacific dominates the market by way of income, adopted by North America, Europe, and LAMEA. China garnered the best share in 2020; nonetheless, Europe is predicted to develop at a major fee in the course of the forecast interval, attributable to enhance in demand for meals storage throughout the area.
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Rise in refrigerated warehouses and progress of the processed meals sector and pharmaceutical sector have boosted the expansion of the worldwide chilly chain logistics market. Nonetheless, lack of standardization and excessive operational value hinder the market progress. Quite the opposite, RFID applied sciences for chilly chain functions and adoption of automated software program would open new alternatives sooner or later.
The chilly chain logistics market is segmented on the idea of the end-use business, enterprise kind, and area. Based mostly on the end-use business, the market is segmented into fruits & greens; bakery & confectionary; dairy & frozen desserts; meat, fish, & seafood; medicine & prescribed drugs; and others. Relying on the enterprise kind, it’s divided into warehousing and transportation. By transportation, it’s categorised into railways, airways, roadways, and waterways. Area smart, the market is analyzed throughout North America, Europe, Asia-Pacific, and LAMEA.
By enterprise kind, the transportation section is projected to manifest the best CAGR of 16.3% from 2021 to 2030, attributable to presence of a number of firms which have operation in chilly chain logistical motion from one place to a different. Nonetheless, the warehousing section held the most important share in 2020, accounting for greater than two-thirds of the worldwide chilly chain logistics market, attributable to elevated warehousing & storage actions carried out throughout the globe.
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Elements resembling enhance within the variety of refrigerated warehouses and progress within the pharmaceutical sector are anticipated to drive the expansion of the chilly chain logistics market. As well as, progress within the processed meals sector boosts the market progress. Nonetheless, elements resembling lack of standardization and excessive operational value restrain the market progress. Moreover, RFID know-how for chilly chain functions and the adoption of software program for chilly chain logistics present profitable progress alternatives for the market gamers.
Main market gamers
Americold Logistics, LLC
Burris Logistics
Cold Box
Conestoga Cold Storage
Congebec
Lineage Logistics Holding, LLC
Nichirei Company
Tippmann Group
United States Cold Storage
VersaCold Logistics Providers
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David Correa
Allied Analytics LLP
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Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
