The Growth of the Cold Chain Market in APAC is Booming owing to the Increased Perishable Goods Paired with Growing Organized Retail Sector!
- Vikas Kumar
- November 14, 2023
- CONSUMER GOODS, NEWS
- Cold Chain Market Analysis, Cold Chain Market Forecast, Cold Chain Market growth, Cold Chain Market Outlook, Cold Chain Market share, Cold Chain Market size, Cold Chain Market trends
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The APAC market is expected to register the highest growth rate in the forecast period due to the rising prevalence of perishable goods and organized retail sector anticipated fuel to the market growth. The expansion of the retail and e-commerce sectors in the country as well as the rising demand for processed food goods are driving the growth of the Indian cold chain market. The expansion of the organized food retail sector in the area is one of the main elements that will support industry growth over the forecast period. Cold Chain is a mixture of temperature-controlled surface transport and supply chain. It relates to the freezing solutions which help to maintain the quality and shelf life of products, for example, seafood, agricultural produce, frozen food, chemicals, photographic film, and pharmaceutical drugs.
Further, the APAC Cold Chain Market is expected to grow at a strong CAGR of 6.4% during the forecast period (2023-20230). The growth is attributed to the increasing in the demand of perishable goods. Furthermore, Asia-Pacific garnered the highest share in the cold chain market in 2022, in terms of revenue, and is anticipated to maintain its dominance during the forecast period. This is attributed to increase in demand of perishable goods in this region. The demand for Cold Chain is increasing on account of the rising penetration of connected devices and automation of refrigerated warehouses all over the world. The rising number of retail stores in developing economies is leading to high demand for cold chain solutions.
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APAC Cold Chain Market Revenue (2023-2030) – USD Mn
Based on Type, the market is bifurcated into Refrigerated Transport and Refrigerated Warehousing. The Refrigerated Warehousing segment holds the largest share in 2022 and is expected to register the highest CAGR in the upcoming period owing to rising for packaged foods all over the world. The Shifting of dietary patterns and lifestyles of consumers is further driving the demand for frozen foods which in turn boosts the demand for warehousing. According to the GCCA, the total capacity of refrigerated warehouses all over the world was 616 million cubic meters in 2020, 2.67% greater than the capacity reported in 2022.
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Based on Temperature Type, the market is bifurcated into Frozen and Chilled. The Frozen segment dominated the market in 2022 and is expected to grow at lucrative during the forecasted period. The freezing of food the preservation of the storage life of food products by making them more inert. In addition, the freezing process slows down the biological and chemical reactions that encourage food spoilage and limit the shelf-life. Frozen products have a standard temperature range between 18°C and -25°C. Freezing preserves the texture, taste, and nutritional value of the food products. Though, it also depends upon the type of food materials, the use of pre-treatments, the choice of freezer & frozen storage options, and the usage of appropriate packaging.
Global Green Building Market Segmentation
Market Insight, by Temperature Type
- Frozen
- Chilled
Market Insights, by Type
- Refrigerated Transport
- Refrigerated Warehousing
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- APAC
- China
- Japan
- India
- Rest of APAC
- Rest of the World
Top Company Profiles
- Americold Logistics
- Lineage Logistics Holdings
- Nichirei Corporation
- Burris Logistics
- Agro Merchants Group
- Kloosterboer
- United States Cold Storage
- Tippmann Group
- VersaCold Logistics Services
- Henningsen Cold Storage Co.
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