The reprot forecasts the global food and beverage cold chain logistics market to grow at a CAGR of 11.18% by revenue during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend propelling market growth is the growing demand from emerging economies. The cold chain market for food and beverages in emerging economies such as India and China is still in its developmental phase. However, the population of India and China is very high. India's tropical temperature also makes it one of the leading producers of food grains and food products worldwide.
However, certain challenges faced by cold chain vendors in emerging economies like the lack of proper infrastructure, the presence of minimal logistic support, lack of proper warehousing facilities, limited presence of service providers, and lack of skilled workers have led to substantial wastage of food products in these countries. Proper cold storage facilities and cold chain logistics can reduce the food wastage and health related issues in this emerging economies.
According to the report, a key growth driver is the need to reduce food wastage. According to the United Nations Environment Programme (UNEP) and World Resources Institute (WRI), about one-third of the food produced every year is wasted. Fruits and vegetables are products that are wasted the most; about 25% of them are wasted at the production level. In addition, perishable food products are often exposed to fluctuating temperatures during transit and handling, which adds to the wastage. The global population is expected to increase at a rapid pace in the future, which is expected to increase the demand for food products.
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