Global Cold Chain Market - Market Size & Forecast To 2032

Global Cold Chain Market - Market Size & Forecast To 2032

The global cold chain market is estimated to be worth of USD 331.90 Billion in 2023 and is growing at a CAGR of 16.50% during the forecast period from 2023 to 2032. Food products that are temperature sensitive and come with a varied lifespan are called cold chain products the cold chain is an effective system that uses thermal and refrigerated packing techniques to guarantee the security of temperature-sensitive goods during transportation.

The need for cold chain is being driven by the rising need for organized retail as well as the increased consumer awareness of ways to reduce food waste. The use of cold chains in the food and beverage industry helps to prevent the deterioration of food quality as a result of recent technological advancements. The expansion of the global cold chain market has been aided by technological advancement.

The impact of food nutrients, particularly protein, on general physical and mental growth and development is now better understood by consumers, who are also more concerned with health and wellness. Perishable foods like dairy, fruits, vegetables, and high-protein animal-based goods have changed in how people consume them as a result (such as meat, eggs, and fish and seafood).

One of the key factors influencing the expansion of the cold chain industry is the development of retail channels and chains in the form of supermarkets, hypermarkets, and convenience stores. Additionally, retail chains have grown to the point that some producers have their own internal chilled storage facilities. Market expansion potential for refrigerated warehousing and refrigerated transportation are being created by the rise of such large merchants and their expanding operations in international trade. By establishing food waste rules and assisting food-related companies like the cold chain industry, governments in many countries are attempting to reduce food and agricultural waste.

By avoiding premature expiration, deterioration, and spoilage, manufacturers, retailers, and consumers in the food sector place a high priority on ensuring the quality and safety of food. Service providers now need to make investments in cutting-edge vehicles, system technology, and cold storage facilities to do this. However, the high cost of energy (energy is incredibly expensive) is a major worry for cold chain providers.

Numerous governments have been working to increase infrastructure spending for the cold chain, pre-cooling facilities, refrigerated storage and transport, packaging, and information management systems. Due to the necessity of chilled trucks in cold chains, fuel costs and effective monitoring of fuel use are some of the other top problems for cold chain suppliers.

Based on type, the market is segregated into refrigerated warehouse, refrigerated transportation and monitoring components

The refrigerated transportation is further segmented into road transportation, sea transportation, rail transportation and air transportation in which the road transportation is sub-segmented into van, small truck, semi-trailer and standard ISO container

The monitoring components is further segmented into hardware and software whereas the hardware is sub-segmented into sensors, RFID devices, networking devices and others and the software is sub-segmented into On premise and cloud based

Due to the growing demand for packaged products globally, the storage category has a larger market share and is anticipated to keep dominating over the projection period. Consumer dietary and lifestyle changes are driving a rise in the demand for frozen meals. The demand for storage solutions is anticipated to rise. Cold chain systems must be used for products including food, beverages, and medical supplies. Due to their limited applications, track pavers are anticipated to experience a moderate rise throughout the projection period. Rubber tires or crawlers make up these pavers. To improve the arrangement of the asphalt, crawlers are utilized in locations where there is a need for higher traction on the ground. Conversely, rubber tires are utilized on already-paved pathways, requiring less traction and ground control.

On the basis of packaging, the market is divided into active systems, passive systems and hybrid systems

Active systems, which are typically rented, can sustain particular temperature ranges without appreciable variations. Temperature-sensitive alarms will give you peace of mind because they promptly activate standby units if there is any fluctuation. Modern temperature controls in active shipping containers, which are typically leased, are frequently supplied by electricity and/or battery. As the units lock and are never opened during travel, they are thought to be more secure than passive systems.

Passive systems are best used as generic protection for shipments with low risk profiles or in regulated room temperature (CRT) environments. Inside an insulated enclosure, a passive container provides a temperature-controlled environment. Using a limited supply of pre-conditioned coolant, such as chilled or frozen gel packs, phase transition substances, and dry ice, this can be done with or without thermostatic regulation.

Based on temperature, the market is categorized into froze and chilled

In order to extend the shelf life of the packaged food goods, the manufacturing process involves freezing the food products. The biological and chemical reactions that keep the food from going bad are slowed down during the freezing process. The need for frozen food products is fueled by consumers' changing eating habits and increased disposable income, which is what, is expected to propel the cold chain market's expansion.

The process of chilling goods as they go through the cold chain entails lowering food temperatures to below ambient levels but above -1°C. Keeping food fresh for shorter periods of time can be accomplished by chilling food products between 0°C and +5°C. The reason for this is that it slows down a lot of the microbiological, physical, chemical, and metabolic processes that cause food to deteriorate and degrade.

On the basis of technology, the market is segregated into blast freezing, vapor compression, programmable logic controller (PLC), evaporating cooling, cryogenic systems and others

Because it reduces the possibility of bacterial growth in food goods, blast freezing is a financially advantageous freezing method. Blast freezing preserves food longer because it prevents bacteria from growing in below-zero temperatures. Food and money are not wasted as a result. Blast freezing is the ideal solution for companies that need to keep food on hand for extended periods of time. Food items can be blast frozen for months at a time and still remain in excellent shape. Blasting your food will help keep its integrity while enhancing its quality and flavour. Since extreme cold, as previously indicated, prevents bacterial growth, the method has advantages for both health and safety.

Based on application, the market is segregated into fish, meat & seafood products, fruits & vegetables, bakery & confectionery, dry & frozen desserts, pharmaceuticals and others

The fish, meat, and seafood category dominates the market. The expansion of this market is anticipated to be fueled by technological developments in seafood processing, packaging, and storage. The enhanced fish production is also intended to support the market's expansion. However, processed food is anticipated to see the quickest rate of growth over the projection period due to continued advancements in packaging materials. Because of improvements in packing materials, foods now have a longer shelf life. This has expanded the trade in processed foods over the past few years.

The cold chain market by form is anticipated to see lucrative growth by the dairy & frozen desserts segment during the forecast period. For dairy products to remain of the highest quality, cold chain logistics are crucial. The cold chain makes sure that low temperatures are kept throughout the supply chain, as required by dairy products.

Based on region, the cold chain market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2022, the Europe accounted for the significant share xx.xx% in the global Cold chain Market. This region was valued at USD xx.xx million in 2022, and it is projected to grow at a CAGR of xx.xx% during the forecast period, reaching USD xx.xx million by 2032.

As a result of increased government investments in creating cutting-edge logistics infrastructure, the Asia Pacific area is predicted to see the highest growth. China is anticipated to retain a sizeable stake in this region due to the rising demand for technical developments in food processing, packaging, and seafood preservation. Additionally, the expansion of the pharmaceutical industries in China and India would support this region's cold chain market.