Global Cold Chain Market Analysis 2022
The Global Cold Chain Market is expected to reach $481.85 billion by 2028 growing at a CAGR of 9.7% from 2021 to 2028. Cold chain logistics is the technology and process that allows the safe transport of temperature-sensitive goods and products. Cold chains are essential for extending marketing, preventing overcapacity, reducing transport bottlenecks during peak periods, and maintaining product quality.
Factors such as increasing consumer demand for perishable goods and technological innovations in refrigerated systems and equipment are driving the growth of the market. However, high energy costs and environmental concerns are restraining the growth of the market.
Based on type, the monitoring components segment is going to have a lucrative growth during the forecast period due to the technological advancements and increasing need to ensure the integrity, efficiency, and safety of shipments. The stringent regulatory environment in the pharmaceutical industry surrounding the maintenance of product quality has driven the adoption of cold chain monitoring components.
The key vendors mentioned are Wabash National, VersaCold Logistics Services, Americold Logistics LLC, Swire Group, Cold Box Express, Inc, Sofrigam, Nordic Logistics, Lineage Logistics, LLC, Hanson Logistics, Cryopak Industries Inc., Softbox Systems Ltd, Cloverleaf Cold Storage, Burris Logistics, Inc., Sonoco ThermoSafe, Agro Merchant Group and Valor Industries.
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