BANGALORE, India, April 19, 2021 /PRNewswire/ -- The Cold Chain Market is Segmented by Type (Refrigerated Storage, Cold Chain Logistics), by Application (Food and Beverages, Healthcare, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on Valuates Reports in the Transportation & Logistics Category.
The global Cold Chain market size is projected to reach USD 507,030 Million by 2026, from USD 225,580 Million in 2019, at a CAGR of 12.3% during the forecast period 2021-2026.
Major factors driving the growth of cold chain market size are:
The increase in the number of organized retail stores, processed food sector, and growth in the pharmaceutical sector
Shift in consumer trend for healthy foods, which majorly includes perishables such as dairy products, fruits and vegetables, and high-protein animal-based products. that needs to be stored & distributed in refrigerators.
Rising consumer demand for perishable goods is expected to drive the growth of cold chain market size. Consumers are becoming more conscious of health and wellness, as well as the impact that food nutrients on overall physical and mental development. This increase in consumer awareness and emphasis on eating healthy has increased the demand for perishable foods, such as dairy products, fruits and vegetables, and high-protein animal-based products.
In the pharmaceutical sector, with the emergence of more complex biological-based drugs, shipments of hormone treatments, vaccines, and complex proteins that require cold chain refinements, cold chain logistics is becoming more important. The overall healthcare logistics industry is seeing significant growth in the transportation and distribution of temperature-controlled pharmaceutical products and medical devices. This scenario is expected to continue during the forecast period as well, thereby driving the cold chain market size.
The increasing number of organized retail stores in emerging economies is expected to fuel the growth of cold chain market size. Retail chains by multinational companies are being opened in various developing countries. This, in turn, increases the demand for cold chain solutions to store and distribute the perishable produce and product.
Furthermore, factors such as the incorporation of RFID technologies in cold chain logistics, growing penetration of connected devices, and automation of refrigerated warehouses are expected to provide lucrative growth opportunities for the cold chain logistics market players.
Based on region, Europe was the largest market of the Cold Chain, with a market value share of nearly 27.46% in 2016, followed by North America with a market value share over 27.15%. On the other hand, The Asia Pacific region is expected to witness the highest growth due to new technologies, government support, and an increase in the export of food and beverages.
- Agriculture Energy-Saving Cooling and Freezing (Cold Chain) Market contains segmentation By Type (Under 2°C(36°F), 2-8°C (36-46°F), Above 8°C(46°F)), By Application (Refrigerator Trucks, Refrigerator Cars, Reefer Ships, Reefer Containers, Refrigerated Warehouses, Others) and Regional Opportunity Analysis and Industry Forecast.
- Food Cold Chain Market contains segmentation By Type (Refrigerated Storage, Cold Chain Logistics), By Application (Fruits and Vegetables, Meat/Seafood, Dairy and Frozen Dessert, Bakery & Confectionery, Ready-to Eat Meal) and Regional Opportunity Analysis and Industry Forecast.
- IT Spending In Cold Chain Logistics Market size is projected to reach USD 13720 Million by 2026, from USD 6129.9 Million in 2019, at a CAGR of 12.2% during 2021-2026. On the basis of type, the IT Spending In Cold Chain Logistics market is segmented into Hardware, Software and Others. Hardware is expected to account for the largest share of the global market, About 78.5% in 2018.
- Cold Chain Packaging Market contains segmentation By Type (Single Use Packaging, Useable Packaging), By Application (Food, Agro-product, Healthcare, Pharmaceuticals, Meal Delivery, Industrial & Chemicals, 3PL, Others) and Regional Opportunity Analysis and Industry Forecast.
- The global Refrigerated Transport market size is projected to reach USD 16840 Million by 2026, from USD 13030 Million in 2019, at a CAGR of 3.3% during 2021-2026.
- Pharmaceutical Cold Chain Logistics Market contains segmentation By Type (Sea Freight, Airfreight, Overland, Integrated), By Application (Pharmaceuticals, Blood Goods, Others) and Regional Opportunity Analysis and Industry Forecasts 2026.
- Biomedical Cold Chain Market contains segmentation By Type (Freezing, Cryopreservation, Cryopreservation, Constant Temperature Refrigeration, Other), By Application (Biopharmaceutical Company, Hospital) and Regional Opportunity Analysis and Industry Forecasts 2027.
- Data Loggers for Cold Chain Monitoring Market contains segmentation By Type (Offline Data Loggers, Cellular Connected Data Loggers, Wireless Connected Data Loggers), By Application (Food and Beverages, Pharma & Healthcare, Others) and Regional Opportunity Analysis and Industry Forecasts 2027.
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