According to the recent study the cold chain logistics market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 14% to 16% from 2023 to 2028. Growth in this market is primarily driven by increasing adoption rate of packaged food & beverage products, rising consumer demand for perishable goods, growing demand for refrigerated warehouses, and growth in pharmaceutical sectors.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in cold chain logistics market by product type (refrigerated warehouses and refrigerated transportation), temperature (frozen and chilled), application (fruits and vegetables, dairy and frozen products, pharmaceuticals, bakery and confectionary, fish, meat, and seafood, processed food, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Refrigerated warehouses market is expected to remain the largest segment during the forecast period.”
Based on product type, the cold chain logistics market is segmented into refrigerated warehouses and refrigerated transportation. Lucintel forecasts that the refrigerated warehouses market is expected to remain the largest segment due to the change in lifestyle leads to growing preference for packaged food products across the globe, increasing requirement to ensure food safety and taste consistency, post pandemic shift in trend towards online grocery shopping, and increasing demand for cold storage from pharmaceutical industry.
“Within the cold chain logistics market, the dairy and frozen products segment is expected to remain the largest application”
Based on application the dairy and frozen products segment is expected to witness the highest growth over the forecast period due to increasing consumption of dairy products and changing consumer behaviour towards food. Also, the dairy products are highly regulated and prone to foodborne illness. And dairy products require constant temperature control throughout the value chain, therefore the demand for cold chain logistics is high in this segment.
“Asia pacific will dominate the cold chain logistics market in near future”
APAC will remain the largest region over the forecast period due to changing consumer preferences for buying and consuming convenience food products and processed food, a surge in government investment in developing well developed and modern infrastructure for cold chain logistics, and increasing number of pharmaceutical companies that requires cold chain logistics at various steps of value chain leads to growing demand for cold chain logistics in the Asia Pacific region.
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Major players of cold chain logistics market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. AmeriCold Logistics LLC, Preferred Freezer Services Inc., Lineage Logistics Holdings LLC, Nichirei Corporation, Snowman Logistics Ltd, Burris Logistics Inc., AGRO Merchants Group LLC, and Kloosterboer Group B.V. are among the major cold chain logistics providers.
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