Reefer Container Market to Reach USD 10,055.2 Million by 2034, Driven by Global Trade, E-commerce, and Perishables Boom in the US, China, and India

Fueled by the growth of global food trade, booming e-commerce, and the expanding pharmaceutical sector, the reefer container market is experiencing a significant rise. This demand is particularly strong in regions like India, China, and the United States. Advancements in temperature control technology further propel the market by ensuring the freshness and safety of transported perishables.

NEWARK, Del., June 4, 2024 /PRNewswire/ -- According to Future Market Insights, the global reefer container market is growing at a CAGR of 3.9%, valued at USD 6,858.6 million in 2024 and expected to surpass USD 10,055.2 million by 2034. Reefer containers are experiencing rapid demand as they are essential for transporting perishable goods like vaccines, fresh produce, and seafood across borders while maintaining specific temperature ranges. 

Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-19654

The expansion of pharmaceutical and nutraceutical industries, global food trade, and e-commerce growth are considered major drivers for this growth. This is particularly evident in countries like India, China, and the United States. The industry is also benefitting from the increasing demand for fresh and exotic foods year-round, as well as the rise of e-commerce in emerging economies.

Technological advancements in reefer containers, such as advanced temperature monitoring systems and IoT integration, are also boosting sales of reefer containers. These innovations improve insulation, and energy efficiency, and enable real-time monitoring of temperature and humidity. However, challenges like high investment costs and susceptibility to temperature fluctuations and mechanical failures hinder industry growth, leading to quality and safety concerns for perishable cargo.

"Continuous investment in research and development is the key in this industry. Companies in the reefer container market must containers with improved temperature monitoring systems, energy-efficient cooling solutions, and remote monitoring capabilities to enhance the performance, reliability, and sustainability of their products", says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.).

Key Takeaways from the Market Study

• The 20 to 40 feet segment dominates the global reefer container market with a share of 45% in 2024.
• Based on the end use, the healthcare segment leads the reefer container market with a share of 28% in 2024.
• The reefer container market in India is anticipated to grow at a CAGR of 4% through 2034.
• The reefer container market in South Korea is estimated to rise at a 3.9% CAGR through 2034.
• The reefer container market in Thailand has the potential to increase at 4% CAGR through 2034.
• The United States reefer container market is predicted to rise by 3.7% CAGR through 2034.
• The reefer container market in the United Kingdom is very likely to grow at a CAGR of 3.4% through 2034.

Competitive Landscape

• The reefer container industry remains competitive despite slow growth, as numerous companies dominate the global revenue.
• These companies have a strong presence not only in their domestic markets but also internationally.
• They offer a diverse range of reefer container sizes, configurations, and features to meet the specific needs of various industries and customers.
• With increasing awareness of environmental issues, companies are also prioritizing sustainability initiatives in their operations
• Leading companies in the industry include Maersk Container Industry, Daikin Reefer, Carrier Transicold, and Thermo King.

 Recent Developments:

• In March 2024, Seatrade introduced the innovative "Country Class" reefer container vessels, starting with M.v. "Seatrade Chile," designed with 640 reefer plugs to meet industry demand.
• In December 2023, BLR Logistiks expanded its fleet to include reefer containers, equipped with advanced technology to maintain cargo integrity during transportation across diverse industries.

Purchase now and gain full access to the Reefer Container Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics. 

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association. 

Explore FMI's Extensive Coverage in the Packaging Domain:

• Reefer Container for Pharmaceutical Market by Application Type, Container Size & Region | Forecast 2022 to 2032. – Review and Request to Access the Sample Report.
• Temperature Controlled Pharmaceutical Container Market Forecast by Chest Style and Upright Style for 2024 to 2034. - Review and Request to Access the Sample Report.
• Thin Wall Plastic Container Market by Polypropylene, Polystyrene, and Polyethylene Materials, 2024 to 2034. - Review and Request to Access the Sample Report.
• Container Liner Market by Material, Capacity, Product, End-Use & Region | Forecast 2023 to 2033. - Review and Request to Access the Sample Report.
• In-Depth Analysis of the Container Stacking Machine Market, Opportunities and Forecast, 2023-2033. - Review and Request to Access the Sample Report.
• Container Washing System Market by Technology, End Use Industry, Distribution Channel & Region | Forecast 2023 to 2033. - Review and Request to Access the Sample Report.
• Rigid Packaging Container Market Forecast by Plastic, Metal, and Glass from 2024 to 2034. - Review and Request to Access the Sample Report.
• Automated Container Terminal Market Covering Sales Outlook, Up-to-date Key Trends, Production and Consumption Statistics, Forecast, 2023-2033. - Review and Request to Access the Sample Report.
• Die Cut Display Container Market by Material Type, Printing Type, End Use & Region - Forecast 2022 – 2032. - Review and Request to Access the Sample Report.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube

Logo: https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg