Pune, 13, Dec, 2022: As per Maximize Market Research, a global business research and consultancy firm, the total global market for Cold Chain Market was US$253.15 Billion in 2021 and is expected to grow at a CAGR of 8.6 percent over the forecast period to reach US$489.79 billion by 2029.
Cold Chain Market Scope and Research Methodology
The cold chain market study studies market potential in terms of new revenue streams, regulatory changes, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, and more. The market segmentation for the various kinds of car wiring harnesses is described in detail in the study. Market participants and geographical areas have made data available (North America, Asia Pacific, Europe, the Middle East, Africa, and South America). The revenue, financial status, portfolio, technological adoption, mergers and acquisitions, joint ventures, and strategic alliances of the leading market participants in terms of their regional market shares are all included in the competitive environment for cold chain.
The size of the market has been estimated by countries using a bottom-up method of data collection. The bottom-up method has helped to concentrate on regional markets and get a thorough understanding of the various categories listed in the study. With the aid of a complete analysis of market drivers and constraints at the local, regional, and global levels, our analyst has been able to estimate and project the market size without ignoring any factors that have impacted the firm internally or externally. Surveys, the distribution of questionnaires, and phone interviews with subject-matter experts, industry leaders, business owners, and marketers were the key approaches used. Secondary data was painstakingly acquired from reliable sources to ensure the inferences were as trustworthy as possible. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, and releases of products from manufacturers and suppliers in the industry, along with paid databases.
SWOT analysis was conducted to identify the strengths and weaknesses of the cold chain market, while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the cold chain market.
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Cold Chain Market Overview
The cold chain is a combination of people and equipment with the task of ensuring that the goods are kept in an ideal environment and temperature to preserve their quality during their transportation from the site of their production to the site of their storage or application. The global food and beverage industry commonly uses the cold chain to protect products against thermal deterioration. The cold chain market is analysed and projected in terms of size and value.
Cold Chain Market Dynamics
The cold chain market is expected to be driven by rising consumer demand for perishable goods. The impact that food ingredients, particularly protein, have on overall physical and mental development is becoming more and more important to consumers as they become more concerned with their health and wellbeing. Consumption patterns have changed as a result of perishable items, such as dairy products, fruits, and vegetables, as well as high-protein animal-based products (such as meat, eggs, fish, and seafood).
High energy costs and a substantial investment budget were necessary to restrain the growth of the cold-chain market. Food producers, traders, and consumers all have a strong interest in preventing food from spoiling, decaying, or expiring before its time. To do this, service providers must now make investments in modern cold storage facilities, cutting-edge vehicles, and system technology. On the other side, excessive energy costs are becoming a bigger issue for cold chain providers (energy costs are exceptionally high in North America and Europe). In refrigerated storage facilities, conventional fluorescent light fixtures are used, and they must always be on because it is mandated by law. The investment in pre-cooling facilities, refrigerated storage and transport, packaging, and information management systems has been boosted by a number of countries.
Cold Chain Market Regional Insights
The Asia Pacific region held the largest cold chain market share in 2021. A CAGR of 13.1% is forecast for the Asia Pacific region throughout the forecast period, which will result in significant growth. One of the most promising subsets of the cold chain sector is finding new opportunities thanks to the robust growth of the life sciences and food industries throughout the Asia Pacific region.
The Asia Pacific region, which accounts for more than 60% of the world’s population, provides a large market for manufacturers of food and medical supplies. Healthcare spending in the region is rapidly increasing and remains critical to the future prospects of global pharmaceutical and biotechnology companies as disposable incomes rise and the population ages. As a result, there is a higher need for healthcare products that are temperature-sensitive, including vaccines, biopharmaceuticals, clinical trial supplies, and other such items.
Cold Chain Market Segmentation
By Type:
StorageWarehousesReefer ContainersTransportationRoadSeaRailAir• Monitoring Components
HardwareSoftwareBy Packaging:
ProductMaterialBy Equipment:
Storage EquipmentTransportation Equipment
By Application:
Fruits & VegetablesFruit Pulp & ConcentratesDairy ProductsMilkButterCheeseIce-creamFish, Meat, and SeafoodProcessed FoodPharmaceuticalsBakery & ConfectionaryCold Chain Market Key Manufacturers:
Americold LogisticsLineage Logistics HoldingsNichirei CorporationBurris LogisticsAgro Merchants GroupKloosterboerUnited States Cold StorageTippmann GroupVersaCold Logistics ServicesHenningsen Cold Storage Co.CWT Pte LimitedOrient Overseas (International) LimitedJWD Group Inc.Swire Cold Chain Logistics Co. LtdXPO Logistics Inc.
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Key questions answered in the Cold Chain Market are:
What is Cold Chain? What is the growth rate of Cold Chain Market for the forecast years? What is the nature of competition in Cold Chain industry in developed and developing economies? Who are the key players in the Cold Chain Market?Who are the market leaders in Cold Chain in Europe?Who are the market leaders in Cold Chain in USA and Canada?Who are the market leaders in Cold Chain in India, China, Japan and South Korea?What are the factors affecting growth in the Cold Chain Market? Who held the largest market share in Cold Chain Market? What are the factors for the growth of Asia-Pacific region in Cold Chain Market?Key Offerings:
Market Share, Size & Forecast by Revenue | 2022−2029Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key TrendsMarket Segmentation – A detailed analysis by Type, Packaging, Equipment, Application, and Region.Competitive Landscape – Top Key Vendors and Other Prominent VendorsMaximize Market Research is leading Automotive and Transportation firm, has also published the following reports:
Cold Chain Logistics Market – Cold Chain Logistics Market size is expected to reach USD 2.85 billion by 2029 at a CAGR of 8.3 percent during the forecast period. Cold Chain Logistics Market is expected to be driven by the Logistics Suppliers and their supply capacity.
Cold Storage Construction Market– Cold Storage Construction Market size is expected to reach USD 31.4 billion by 2029 at a CAGR of 14 percent during the forecast period. One of the key drivers fueling the growth of the market for cold storage construction is the increase in global traffic in perishable goods.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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