Westford USA, Nov. 26, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Cold Chain Logistics Market size will attain a value of USD 1033.16 Billion by 2031, with a CAGR of 15.60% over the forecast period (2024-2031). The cold chain logistics comprise transportation and storage under closed conditions, monitoring temperature-sensitive goods to retain the integrity and quality of perishable food items, medications, and chemicals. Demand for fresh and frozen goods keeps growing globally; hence, this is considered a remarkable expansion in the cold chain logistics market. The factors that contribute to the growth of the market include increasing development in the pharmaceutical and healthcare sectors, rise in regulations, and technological advancement in refrigeration. In addition, e-commerce and online grocery delivery services are developing, thus putting higher demands on cold chain logistics solutions. Innovation, high-quality requirements, and ensuring product integrity and safety across the entire supply chain mark the characteristics of the market.
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Browse in-depth TOC on the “Cold Chain Logistics Market”
Pages- 197
Tables- 91
Figures- 78
Cold Chain Logistics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 323.97 Billion |
| Estimated Value by 2031 | UD 1033.16 Billion |
| Growth Rate | Poised to Grow at a CAGR of 15.60% |
| Forecast Period | 2024-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Technology, Application and Temperature |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Cold Chain Logistics and the Industry Growth |
| Key Market Opportunities | Technological Advancements |
| Key Market Drivers | Growing Demand for Perishable Goods |
Refrigerated Transportation: Essential for Quality Control in Perishable Goods
The refrigerated transportation segment dominates the cold chain logistics market. Refrigerated transportation maintains goods at constant and precise temperature conditions from their origin to their destination, while warehouses are concerned merely with the storage function. Slight changes in temperature for sensitive products, such as fresh fruit, medicines, and certain chemicals, may have major impacts on quality and safety. Thus, this temperature control should be maintained constantly. The carriage of refrigeration will contribute to such goods’ efficiency and enhance their shelf life by maintaining them within the required temperature range. Thus, this is an important aspect of the overall ecosystem of cold chain logistics.
Pharmaceuticals Segment is Projected to Grow in Cold Chain Logistics
In the cold chain logistics market, the pharmaceutical segment is anticipated to record significant growth at a CAGR of 20.8% during the forecast period. This is a huge growth, and the prime factor that contributes to such growth is the importance of cold chain logistics to maintain efficacy, safety, and quality of drugs. The increasing dependence of the pharmaceutical sector on biologics, vaccines, and temperature-sensitive medications increases the demand for cold chain solutions that are more advanced. These are required to ensure that transportation and storage of pharmaceutical products are at specific temperatures that maintain their efficacy and address the compliance issues. For this reason, the pharmaceutical segment was responsible for the highest growth in the cold chain logistics market.
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Infrastructure Investments Drive Cold Chain Logistics Growth in Asia Pacific
Asia-Pacific is expected to grow with a significant CAGR of 21.1%. This growth is propelled by high government expenditure to build the cold chain logistics infrastructure. High demand for meat, dairy, and other processed foods in South Korea, China, Japan, and India is anticipated to trigger the demand for cold chain services in this region. In addition, the pharmaceutical industry is being supported and foreign direct investments in the healthcare sector are boosting the growth of the pharmaceutical sector in Asia Pacific.
Cold Chain Logistics Market Insights
Drivers
- Growing Demand for Perishable Goods
- Technological Advancements
- Globalization of Supply Chains
Restraints
- High Costs
- Regulatory Compliance Challenges
- Risk of Product Loss
Prominent Players in Cold Chain Logistics Market
- AmeriCold Logistics LLC (United States)
- Lineage Logistics Holdings, LLC (United States)
- Nichirei Corporation (Japan)
- Swire Group (China)
- Burris Logistics (United States)
- United Parcel Service, Inc. (United States)
- DHL International GmbH (Germany)
- FedEx Corporation (United States)
- AGRO Merchants Group (United States)
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Key Questions Covered in the Global Cold Chain Logistics Market Report
- What are the factors restricting the growth of the global cold chain logistics market?
- What strategic approaches do the key players are adopting to remain in the competitive era?
- Which region is the largest shareholder of the market?
This report provides the following insights:
- Analysis of key drivers (technological advancements and growing demand for perishable goods), restraints (high costs and risk of product loss) opportunities (sustainability initiatives and emerging markets), and challenges (supply chain disruptions and economic instability) influencing the growth of the cold chain logistics market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the cold chain logistics market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the cold chain logistics market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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