Cold Chain Market is Encouraged to Reach USD 474.29 billion by 2028

The global cold chain market size was valued at USD 211.77 billion in 2020 and is expected to reach USD 474.29 billion by 2028, growing at a CAGR of 9.7% from 2021 to 2028. The growth is driven by increasing demand for perishable goods, globalization of the food trade, and technological advancements in cold chain logistics.

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The cold chain market refers to the transportation and storage of products that require a controlled temperature environment. These products are primarily perishable goods such as fruits, vegetables, dairy products, meat, and seafood. The cold chain is a crucial aspect of the supply chain as it ensures the quality and safety of products, especially in the food and pharmaceutical industries. The market has seen significant growth in recent years, and this report aims to analyze the trends, drivers, and challenges of the cold chain market.

Market Key Players

• Americold Logistics
• Burris Logistics
• Cloverleaf Cold Storage
• Conestoga Cold Storage
• Congebec Inc.
• Dev Bhumi Cold Chain Limited
• Fresh And Healthy Enterprises Ltd
• Gati Kwe Ltd
• Hanson Logistics
• Henningsen Cold Storage Co
• Interstate Cold Storage Inc.
• Snowman Logistics Ltd
• Trenton Cold Storage Inc. and more

Market Drivers:
The growth of the cold chain market is driven by several factors such as:

• Increasing demand for perishable goods: The rising demand for perishable goods such as fruits, vegetables, and dairy products has driven the growth of the cold chain market.
• Globalization of food trade: The growth of the global food trade has increased the demand for cold chain logistics to ensure the quality and safety of products.
• Technological advancements in cold chain logistics: The adoption of advanced technologies such as IoT, RFID, and GPS has improved the efficiency and effectiveness of cold chain logistics.

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Market Segmentation:

The cold chain market is segmented by type, application, temperature type, and region.

• By Type: The market is segmented into refrigerated storage and refrigerated transport. The refrigerated storage segment accounted for the largest market share in 2020 due to the increasing demand for cold storage facilities for perishable goods.

• By Application: The market is segmented into food and beverage, pharmaceuticals, and others. The food and beverage segment accounted for the largest market share in 2020 due to the increasing demand for fresh and processed food products.

• By Temperature Type: The market is segmented into frozen and chilled. The chilled segment accounted for the largest market share in 2020 due to the increasing demand for fresh and chilled food products.

• By Region: The market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific accounted for the largest market share in 2023 due to the increasing demand for perishable goods, growing middle-class population, and rising disposable income.

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Market Challenges: The cold chain market faces several challenges such as:

• High capital investment: The establishment of cold storage facilities and refrigerated transport requires a high capital investment, which may be a significant challenge for small and medium-sized enterprises.
• Lack of infrastructure: The lack of infrastructure in developing countries may limit the growth of the cold chain market.
• Stringent regulations: The stringent regulations regarding the transportation and storage of perishable goods may pose a challenge for market growth.

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