Refrigerated Transport Market - Forecasts from 2024 to 2029

Refrigerated Transport Market - Forecasts from 2024 to 2029

The refrigerated transport market is projected to grow at a CAGR of 7.76% from US$109.098 billion in 2022 to US$184.108 billion in 2029 during the forecast period.

Refrigerated transport is the shipment process of several different food items, such as fruits & vegetables, frozen foods, ice creams, and meat products, in a temperature-controlled environment necessary for the food items to avoid the food getting spoiled or rotten due to harsh environmental conditions. They include chemicals and pharmaceuticals that are required to be under cool temperatures for their safety and reliability after transportation so that it does not get spoiled during transportation under different environmental conditions that they need to avoid getting spoiled.

These transport services are specially designed to travel long range while maintaining the temperature for the goods during the journey so that they are in good condition during the delivery. Different types of vehicles containing refrigerators are required to maintain the temperature required for the goods attached to the vehicles, such as trucks, containers, and vans that are associated with different businesses like pharmaceutical companies or frozen food manufacturing units to transport their goods that need refrigeration during long-range delivery.

Refrigerated transport makes sure that the goods that they transport are not spoiled or damaged due to harsh environmental conditions throughout the supply chain from manufacturing to retail store delivery the products need to be fresh and under cool temperature. Therefore, the wide range of applications for these refrigerated transport across different industry verticals drives the demand for them.

Refrigerated Transport Market Introduction

The refrigerated transport market is driven by the growing demand for packaged or frozen food & beverage products globally among the general public. Several innovations have been made in the technology for the refrigerated transport industry that make the logistics of transferring the goods that need to be maintained at certain temperatures easy to transport across long-range distances without spoiling the product.

The demand for packaged food products is rising globally due to the convenience and ease of cooking and disposal nature of the product which saves a lot of time for the customer in this hectic world where time is of the essence.

Refrigerated Transport Market Drivers:

Growth in demand for packaged and frozen food products across the globe is predicted to propel the market.

The demand for packaged foods or frozen foods has seen significant growth over the years. These packaged foods are already processed and need to be maintained at certain temperatures to avoid them getting spoiled and increase their shelf-life while they are being transported across different long-range distances. Refrigerated transport is the solution for this as it can maintain the required temperature of the processed food using the refrigerator technology installed in the mode of transport and then deliver the food as fresh as it was initially when started the transport of the packaged foods.

The rise in trade for processed foods across different regions is also expected to significantly boost the market for refrigerated transport over the forecast period. For instance, in India, the share of processed food exports in agri-exports has increased substantially from 13.7% in 2014-15 to 25.6% in 2022-23.

REFRIGERATED TRANSPORT MARKET – GEOGRAPHICAL OUTLOOK

The market growth is projected to be prominent in the European region

The European region is expected to show major growth in the refrigerated transport market due to the rapid growth in production and demand of frozen foods products among the general public in several countries across the European region with the government policies that promote hygiene and strict regulations regarding the freshness of the food products which is to be complied with by the frozen food products companies. Additionally, these frozen foods are easy and convenient for customers to cook and handle; hence, their demand is rising, which in turn is expected to propel growth in the European market for refrigerated transport.

Moreover, the growing advancements in the technology of refrigerated systems and transport in which goods are to be traveled coupled with major food manufacturers in the European region that are expanding their businesses from local retailers to whole food market across the European region are the contributing factors that are expected to boost the refrigerated market in the European region over the forecast period.

The refrigerated transport market is segmented and analyzed as:

By Technology

Vapor Compression Systems
Eutectic Systems
Cryogenic Systems
Others

By Product

Chilled
Frozen

By Mode of Transportation

Sea
Air
Road
Railways

By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Taiwan
Thailand
Indonesia
Others