Cold Chain Logistics Market
Growth Factors of Cold Chain Logistics Market
The cold chain logistics market size was valued at USD 293.58 billion in 2023, and the market is now projected to grow from USD 324.85 billion in 2024 to USD 862.33 billion by 2032, exhibiting a CAGR of213% during the forecast period of 2023-2032.
Covid pandemic resulted in the change of products price substantially with reduction in demand. During covid pandemic most of the business were forced to shift to online selling’s by closing physical stores which boost the cold chain logistics market growth. This trend will be continued as business recognize the importance of having an efficient and visually appealing online store for driving sales and reaching a worldwide client base. Hence, online store sale is anticipating witnessing a boom in the projected period.
E-commerce and online grocery delivery services are also growing, which is increasing the need for effective cold chain logistics solutions. All things considered, the market is distinguished by innovation, exacting quality requirements, and an emphasis on guaranteeing product integrity and safety along the whole supply chain. To guarantee the efficacy and safety of vaccines and biologics, such as mRNA vaccines and gene treatments, strict temperature control must be maintained throughout the supply chain during development and distribution. Growing need for biologics and pharmaceuticals sensitive to temperature promoting cold chain logistics market growth for the upcoming years.
The increasing trend of buying perishable goods online has brought forth both benefits and challenges. Among these are the requirements for automated warehouses to manage inventory and last-mile delivery services has been increased with time leading market expansion. It also creates a need for advanced temperature monitoring equipment to maintain quality and increase the shelf life of perishable food items.
Comprehensive Analysis of Cold Chain Logistics Market
The cold chain logistics market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by types and by application. The types segmentation includes, Refrigerated Warehouses, Refrigerated Transportation while By Application (Fruits & Vegetables, Fish, Meat, and Seafood, Dairy & Frozen Desserts, Bakery & confectionery, Processed Food, Pharmaceuticals, Others.
The North America region lead the cold chain logistics market by benefitting a market size of USD 97.7 billion in 2023 due to growing consumer demand, a growing number of connected devices, and rising government spending on the construction of cold chain logistics infrastructure.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, U.S. Cold Storage (New Jersey, U.S.), AmeriCold Logistics LLC (Georgia, U.S.), LINEAGE LOGISTICS HOLDING, LLC (Michigan, U.S.), VersaCold Logistics Services (Ontario, Canada), NICHIREI LOGISTICS GROUP INC. (NICHIREI CORPORATION) (Tokyo, Japan), CONGEBEC LOGISTICS INC. (Quebec, Canada), Burris Logistics (Delaware, U.S.), CONESTOGA COLD STORAGE (Ontario, Canada), Kloosterboer (Netherlands), COLD BOX EXPRESS, INC. (Alabama, U.S.) these market players provide a level-playing competitive landscape.
In January 2024, GreenDome Holdings purchased LogX, the top temperature-controlled logistics company in the UAE, through its subsidiary Elite Co., a well-known logistics investment vehicle owned by regional industry heavyweights.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 13% (2024-2032)
Unit Value (USD Billion)
Segmentation By Type
- Refrigerated Warehouses
- Refrigerated Transportation
- Road
- Sea
- Rail
- Air
By Application
- Fruits & Vegetables
- Fish, Meat, and Seafood
- Dairy & Frozen Desserts
- Bakery & confectionery
- Processed Food
- Pharmaceuticals
- Others
By Geography
- North America (By Type, By Application)
- U.S. (By Type)
- Canada (By Type)
- Mexico (By Type)
- Europe ( By Type, By Application )
- U.K. (By Type)
- Germany (By Type)
- France (By Type)
- Rest of Europe (By Type)
- Asia-Pacific ( By Type, By Application )
- China (By Type)
- India (By Type)
- Japan (By Type)
- Rest of Asia Pacific (By Type)
- Rest of the World ( By Type, By Application )
Please Note: It will take 5-6 business days to complete the report upon order confirmation.