Cold Chain Market Gaining Traction with Introduction of Frozen Delicacies
Posted by Lohitha on July 16th, 2019
Expanding urbanization, particularly in APAC, has increased the demands for convenient food products. Also, the changing mindset and lifestyle of people has resulted in their inclination towards the processed meals and their ease of use. Maintaining the frozen foods healthy from its manufacturing to consumption requires a special supply chain called cold chain; this cold chain technology preserves food from adverse environment. According to IndustryARC, the global cold chain market size valued at 0.56 billion as of 2018. Foreseeing the current trends, the global cold chain market is projected to rise at a CAGR of 4% during the forecast period 2019-2025.The report titled “Cold Chain Market: By Mode of Transport (Road, Air, Rail, Marine); By Temperature Range (Frozen, Chilled); By Application (Food & Beverage, Pharmaceuticals, Chemicals); By Technology (Vapor Compression, Eutectic Devices, Air blown Evaporators); By Geography - Forecast (2019-2025)” incorporates trends, growth drivers, financial overview, business strategies, and recent developments in the global cold chain market.
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Global Cold Chain Market: Leading Segments
The APAC region is witnessing the highest demands for cold chain systems, generating a global demand share of 34% in 2018. Government initiatives in the developing countries to produce ample food storage capabilities is driving the demands in the APAC region. Additionally, agriculture-based countries such as India produces an enormous amount of crops; a sophisticated infrastructure all over the country is expected to solve the problem of food wastage in the region. Installation of such infrastructure will improve the productivity of crops and it will also increase the demands in the cold chain market. Cold chain market application in the food and beverages industry is the fastest growing vertical globally. As per the analysis, the demand is growing at a CAGR of 6% through the aforementioned forecast period. The opportunities in the particular segments are profitable owing to the fructifying demand of food. Establishment of innovative food and beverages infrastructure and storing capacities are burgeoning the cold chain market growth.
Global Cold Chain Market Analysis
The cold chain is a temperature controlled supply chain used to preserve, extend, and to ensure the shelf life of frozen food and perishable food products. Transient storage equipment such as eutectic plates, gel packs, blast freezing, vapour compression, and dry ice are employed to prevent staling of food. Governments around the world are supporting the establishment of optimum infrastructure for cold chain facilities to contain the risk of food shortage and also ensure food safety. Cold chain service providers are engrossing advanced technologies to ensure food safety in the processed foods throughout its supply chain from manufacturing to consumption. With heavy developments underway in all the facets of cold chain industry, one can expect that the key companies involved will nurture huge profits in the near future.
Global Cold Chain Market Trends
· Temperature controlled cryogenic transportation is gaining popularity to cater to the varying demands for convenience food. With temperature control systems the efficiency achieved is unmatched. The system utilizes minimum energy during non-peak hours such as night and the system is programmed to apply high energy during the day time. Practising this method has allowed the companies to lower energy costs and reduce pressure on local energy grids.
· The cold chain technology is being supported by the surge of data analytics, deep learning, and artificial intelligence. Collecting and analysing data from multiple sources and then converting it to a useful and actionable knowledge has enhanced the operations, logistics, and business processes in the global cold chain market.
Global Cold Chain Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the cold chain market are Americold Logistics, Burris Logistics, Cloverleaf Cold Storage, Henningsen Cold Storage Company, Kloosterboer Group B.V., Nichirei Logistics, Lineage Logistics.
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About the AuthorLohitha
Joined: July 9th, 2019
Articles Posted: 52
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