Increasing penetration of organized retail platforms along with high growth in the hospitality sector will also contribute towards the cold chain market development.
Sellbyville, DE -- (SBWIRE) -- 04/29/2019 -- Global Cold Chain Market report 2024 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.
Cold Chain Market Size is likely to grow at a steady rate from 2016 to 2024 due to increasing demand for packaged food & beverage products. Most of these food & beverage items are transported to different areas after packaging and the need to protect these products from perishing while transportation and storage will drive the global cold chain market growth. Increasing import and export of food & beverage products will also propel the cold chain industry development during the forecast timeframe.
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Cold chain includes logistics planning to maintain the temperature at which perishable food products are stored through refrigeration or thermal packing. This leads to increase in product life and helps maintain the standard quality of product for a longer duration. It basically preserves the physical and bio-chemical properties of frozen and perishable food items. It also regulates the market price of off-season food and prevent product loss by minimizing wastes which eventually leads to higher profits for the manufacturers. Industries that use cold chain are sea food, bakery, fruits & vegetables, confectionary, frozen dessert, dairy, etc.
Cold chain market is segmented, based on its type, into refrigerated storage and refrigerated transport. Refrigerated storage market segment consists of warehouse and refrigerated containers, whereas transportation segment consists of road, sea, rail, and air. Refrigerated storage segment held a significant share of the market and is likely to gain by a healthy rate during the forecast timeframe. The industry is also segmented on the basis of application into fruits & vegetables, dairy, fish, meat & seafood, processed food, pharmaceuticals, and other applications such as bakery, confectionery, etc. Fish, meat & seafood is a key application segment in the industry that is likely to witness high growth in coming years.
The global cold chain market is segmented, based on region, into Asia-Pacific, North America, Europe, Middle East & Africa and Latin America. Asia Pacific countries such as China and India have a huge potential for the development of the cold chain industry owing to growing processed and packaged food items demand from a rapidly expanding middle class income consumers. Developing countries of Latin America and Middle East & Africa will witness healthy growth in the cold chain industry owing to a gradual transition into consumer led economies. North America is also a significant regional market for the industry owing to high demand for packaged fish, meat & seafood. Europe being the largest seafood exporter in the world will also present ample opportunities for cold chain market development in coming years.
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The key market players include Continental Air Cargo, DHL International, World Courier, FedEx Corporation, Kuehne and Nagel International, Preferred Freezer Services, Americold Logistics, John Swire And Sons, Lineage Logistics, Swift Transportation. Other prominent industry participants include Congebec, A.B. Oxford, VersaCold Logistics Services, Cloverleaf Cold Storage, Henningsen Cold Storage, Partner Logistics, Nordic Logistics and Warehousing, Conestoga Cold Storage, Hanson Logistics, and many more.
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