Cold Chain Market: Current Analysis and Forecast (2023-2030)

Report Description

The Cold Chain Market was valued at USD 500 million in 2022 & is expected to grow at a CAGR of 6.4% from 2023-2030. 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. Nowadays, Cold chains are necessary for extending the period of marketing, decreasing transport bottlenecks during peak periods, and preventing overcapacity. The process comprises the exploitation of temperature-monitored warehouses for the storage and cold insulated transport vehicles for the distribution of products.

Some of the major players operating in the market include Americold Logistics, Lineage Logistics Holdings, Nichirei Corporation, Burris Logistics, Agro Merchants Group, Kloosterboer Group B.V., United States Cold Storage, Tippmann Group, VersaCold Logistics Services, and Henningsen Cold Storage Co.

Insights Presented in the Report

“Amongst temperature type, the Frozen segment to grow with high CAGR during the forecast period”

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 lucratively 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

“Amongst type, the refrigerated warehousing category held a significant share of the market in 2022”

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 preference 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 2018, 2.67% greater than the capacity reported in 2022.

“North American to grow with high CAGR during the forecast period”

The market in North America is anticipated to expand at the fastest rate over the course of the forecasted period due to the region’s growing need for perishable items, quick service restaurants, and sustainable cold chain supplies. Additionally, there is a high demand for the preservation of high-quality and nutritive components in fish products, which is driving innovation in North American fish product processing, storage, and packaging technologies. As a result of rising demand and enhanced cold chain infrastructure, North America is rapidly becoming one of the world’s most important marketplaces.  Consumer spending currently accounts for a larger portion of the North American economy than manufacturing or construction. There should be an increase due to North American pharmaceutical innovation.

Cold Chain Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global cold chain market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Cold Chain Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the cold chain market were the three major steps undertaken to create and analyze the adoption of cold chain market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cold chain market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the cold chain market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the cold chain market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as temperature type and type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cold chain market. Further, we conducted factor analysis using dependent and independent variables such as temperature type and type of the cold chain market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Cold chain market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 2 steps, we arrived at the current market size, key players in the global cold chain market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the cold chain market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global cold chain market in terms of offering. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global cold chain market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and application in the global cold chain market.

The main Objective of the Global Cold Chain Market Study

The current & future market trends of the global cold chain market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the cold chain market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the temperature type and type
• Define and analysis of the regulatory framework for the cold chain industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the cold chain market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the cold chain market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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