Cold Chain Market Size, Trends, Analysis, Forecast 2027

Cold Chain Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Offering (Storage, Transportation, Monitoring Components, Others); Temperature (Frozen, Chilled); Industry Vertical (Pharmaceutical, Healthcare, Food & Beverage Processing, Chemical, Others),

  • Report Code : TIPRE00004442
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 188
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In terms of revenue, the cold chain market was valued at US$ 207,510.8 million in 2019 and is projected to reach US$ 398,723.4 million by 2027 and is expected to grow at a CAGR of 10.8% during the forecast period.

The rising trade of perishable products and favorable government support for the development of cold chain infrastructure are the key factors expected to propel the growth of the cold chain market. The cold chain service players are also adopting pioneering technologies to accommodate the increasing demand for food safety, particularly for processed foods. It is projected to offer abundant opportunities, thus propelling the proliferation of several multinational vendors into the market, intending to offer efficient cold chain solutions.

Further, strict food safety regulations, such as the Food Safety Modernization Act, which necessitates better attention toward creating a cold storage warehouse, are anticipated to support the growth of the market. However, challenges regarding environmental concerns such as the emission of greenhouse gasses are projected to hamper the market during the forecast period.

APAC is the second leading region in the cold chain market. It is anticipated to notice a significant growth over the estimated period owing to the growing government investments in logistics infrastructure development and deployment of the warehouses management systems (WMS). China is the key regional contributor and is anticipated to observe a considerable CAGR during the forecast period. Advancements in technologies pertaining to packaging, processing, and food storage are estimated to drive the growth of the cold chain market. Also, rapidly growing demand and development in cold chain infrastructure have made the country a key market. At present, China is witnessing a rapid shift from a manufacturing-led economy to a consumer-led economy.

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Cold Chain Market: Strategic Insights

Cold Chain Market

  • CAGR (2019 - 2027)
    10.8%
  • Market Size 2019
    US$ 207.51 Billion
  • Market Size 2027
    US$ 398.72 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Cold Chain Technologies, Inc.
  • CSafe Global
  • DoKaSch TEMPERATURE SOLUTIONS GmbH
  • Envirotainer AB
  • Pelican BioThermal LLC
  • SKYCELL AG
  • Softbox Systems Ltd.
  • Sonoco ThermoSafe
  • va-Q-tec AG

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Offering
  • Storage
  • Transportation
  • Monitoring Components
  • Others
Temperature
  • Frozen
  • Chilled
Industry Vertical
  • Pharmaceutical
  • Healthcare
  • Food & Beverage Processing
  • Chemical
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Cold chain Market

The COVID-19 outbreak, which began in Wuhan (China) during December 2019, has spread at a fast pace worldwide. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, have impacted every industry and economy worldwide.The majority of the manufacturing plants are either temporarily shut or operating with minimum staff; due to which the cold chain and related components are disrupted. Additionally, the demand for frozen foods has been showcasing a slowdown since the outbreak of COVID-19 in the countries.

Market Insights

Increasing Omni Channel Distribution of Groceries in Asia Pacific

Asia's developing common populace is creating compelling interest for excellent food supplies sourced from home and abroad. Imports of organic berry products, including strawberries and blackberries to the Asia Pacific, recorded a CAGR of 7.5% from 2017to 2019.The development of omni channel dispersion is encouraging developing utilization. The online shopping for food is still at an early stage, with under 5% of essential food item spending in most Asia Pacific markets happening on the web in 2019. This proportion is relied upon to increment of quick delivery, particularly in Korea and China. At present, major online primary food delivery websites, such as JD.com and Suning.com in China, and Big Basket in India presently offer sameday or under 24-hour conveyance in top-level urban communities.

Offering-BasedInsights

In terms of offering, the storagesegment captured a dominating share of the global cold chain market in 2019.Frozen food & beverages, chemicals, medicinal products, and starting materials used in the manufacture of the above products, should be stored under preserved condition to maintain the quality. Manufacturers’ recommendations concerning storage temperatures should be followed, which involves the use of specialized storage facilities. Temperature-monitoring devices should be used to exhibit compliance with the preferred temperature ranges. Good warehousing practices include maintenance of optimum temperature for temperature-sensitive products as per the suggestion of manufacturers.  Measuring and monitoring equipment should be calibrated and tested at defined intervals. These products should be transported in such a way that they are not subjected to unacceptable degrees of heat and cold, and specialized means of transportation should be used wherever necessary.

Temperature-Based Insights

Generally, frozen cargo refers to commodities or foodstuffs that need to be shipped and stored at the optimum temperature for the protection against decomposition, and growth of disease-forming organisms. Specific frozen cargo needs to be transported or stored at temperatures lower than -20°C (-4°F) to maintain quality, texture, and flavor. Commodities with high-fat content, such as ice cream and surimi, should be transported and stored at -26.1°C (-15°F) or lower. Low temperatures conserve the quality of frozen food, aroma, flavor, texture, and appearance and protect it from spoilage.

Industry Vertical- Based Insights

Cold chain for perishable foods generally refers to the continuous handling of the product within a low-temperature condition during the post-harvest steps of the value chain, including collection, harvest, processing, storage, packing, transport, and marketing until it reaches the consumer. A combined cold chain includes the management of the transportation of perishable food products from the ranch, field, or body of water through the entire post-harvest chain to the end user.

In the cold chain market, companies are adopting different strategies including product development, acquisition, and other expansion related strategies to expand their footprint worldwide by meeting the growing demand for their offerings. A few of the recent initiatives in the cold chain market are listed below:

2020:Americold Realty Trust announced intentions to invest around US$ 43 million in a planned expansion of its Dalgety site in Auckland, New Zealand.
2020:AmerisourceBergen enhanced its logistics offering by integrating two of its businesses, World Courier, a global logistics provider, as well as ICS, a third-party logistics. This has created the first and only specialty logistics partner to deliver complete support from clinical trials through commercialization.
2020:Pelican BioThermal opened a network station in Toronto to service its Credo on Demand rental program. The new network station joined the company’s growing system of over 100 network stations and drop points worldwide. Apart from serving as a drop point for Credo On Demand rental customers, network stations service, refurbish, repair, and condition company's reusable Credo Cargo as well as Credo Xtreme shipping containers for reuse.

Cold Chain Market Report Scope

Report Attribute Details
Market size in 2019 US$ 207.51 Billion
Market Size by 2027 US$ 398.72 Billion
Global CAGR (2019 - 2027) 10.8%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Offering
  • Storage
  • Transportation
  • Monitoring Components
  • Others
By Temperature
  • Frozen
  • Chilled
By Industry Vertical
  • Pharmaceutical
  • Healthcare
  • Food & Beverage Processing
  • Chemical
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Cold Chain Technologies, Inc.
  • CSafe Global
  • DoKaSch TEMPERATURE SOLUTIONS GmbH
  • Envirotainer AB
  • Pelican BioThermal LLC
  • SKYCELL AG
  • Softbox Systems Ltd.
  • Sonoco ThermoSafe
  • va-Q-tec AG
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Market Segmentation

    Cold chain Market – By Offering

    •     Storage
    •     Transportation
    •     Monitoring Components
      •       Hardware
      •       Software
    •     Others

    Cold chain Market – By Temperature

    •     Frozen
    •     Chilled

    Cold chain Market – By Industry Vertical

    •     Pharmaceutical
    •     Healthcare
    •     Food & Beverages
    •     Chemical
    •     Others

    Cold chain Market- By Region

    • North America

      • US
      • Canada
      • Mexico
    • Europe

      • France
      • Germany
      • Italy
      • UK
      • Russia
      • Rest of Europe
    • Asia Pacific

      • China
      • India
      • South Korea
      • Japan
      • Australia
      • Rest of APAC
    • Middle East and Africa

      • South Africa
      • Saudi Arabia
      • UAE
    • Rest of MEA

      • South America
      • Brazil
      • Argentina
      • Rest of SAM

    Companies Profiled in Cold chain Market are as Follows:

    • Cold chain Technologies, Inc.
    • CSafe Global
    • DoKaSch TEMPERATURE SOLUTIONS GmbH
    • Envirotainer AB
    • Pelican BioThermal LLC
    • SKYCELL AG
    • Softbox Systems Ltd.
    • Sonoco ThermoSafe
    • va-Q-tec AG
    • World Courier

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Offering ; Temperature ; Industry Vertical ,

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which offering of cold chain led the cold chain market?

    Frozen food and beverages, chemicals, and medicinal products, and starting materials used in the manufacture of the above products, should be stored under conditions that ensure that their quality is maintained. Manufacturers’ recommendations concerning storage temperatures should be observed, and this may involve the use of specialized storage facilities. Temperature-monitoring devices should be used to exhibit compliance with the preferred temperature ranges. Good warehousing practices require that storage areas for temperature-sensitive products should be maintained within acceptable temperature limits and that, where the manufacturer specifies special storage conditions, they should be provided, checked, and monitored. Measuring and monitoring equipment should be calibrated and tested at defined intervals. These products should be transported in such a way that they are not subjected to unacceptable degrees of heat and cold, and specialized means of transportation should be used where necessary.

    Which region led the cold chain market in 2019?

    The North America region led the cold chain market in 2019. The US signifies one of the world’s largest temperature-sensitive healthcare products market. Transportation of temperature-sensitive healthcare products such as biopharmaceuticals, vaccines, as well as clinical trial materials, occupies a huge share in the US cold chain market. In addition, the developed healthcare sector has led to automation for products, thereby removing the possibility of human handling errors in the cold chain. In addition to this, several cold chain logistics, as well as transportation providers such as AmerisourceBergen and FedEx, have accelerated their market growth in the region. Rapid innovations in technology and growing consumer awareness for healthcare cold chain products are expected to spur the market demand during the forecast period.

    Which factor is driving the cold chain market?

    Asia's developing common populace is creating compelling interest for excellent food supplies sourced from home and abroad. Imports of organic berry products, including strawberries and blackberries to the Asia Pacific, recorded a CAGR of 7.5% from 2017to 2019.The development of Omni channel dispersion is encouraging developing utilization. In any case, online shopping for food is still at an early stage, with under 5% of essential food item spending in most Asia Pacific markets happening on the web in 2019. This proportion is relied upon to increment of quick delivery speed, particularly in Korea and China. Major online primary food delivery websites, such as JD.com and Suning.com in China, Big Basket in India presently offer that day or under 24-hour conveyance in top-level urban communities.

    The List of Companies -  Cold Chain Market

    1. Cold Chain Technologies, Inc.
    2. CSafe Global
    3. DoKaSch TEMPERATURE SOLUTIONS GmbH
    4. Envirotainer AB
    5. Pelican BioThermal LLC
    6. SKYCELL AG
    7. Softbox Systems Ltd.
    8. Sonoco ThermoSafe
    9. va-Q-tec AG
    10. World Courier

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    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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    Research Methodology

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