Cold Chain Market by Component (Hardware, Software), Type (Refrigerated Storage, Refrigerated Transport), Technology, Temperature Range, Application - Global Forecast 2024-2030

Cold Chain Market by Component (Hardware, Software), Type (Refrigerated Storage, Refrigerated Transport), Technology, Temperature Range, Application - Global Forecast 2024-2030

The Cold Chain Market size was estimated at USD 213.50 billion in 2023 and expected to reach USD 232.44 billion in 2024, at a CAGR 8.99% to reach USD 390.29 billion by 2030.

Cold chain is a proficient system consisting of thermal and refrigerated packaging methods to ensure the safety of temperature-sensitive products during transportation. In many developed and developing economies, perishable and frozen food product consumption has increased significantly. The surging perishable products demand and requirements for fast delivery associated with the e-commerce-based food and beverages delivery market has significantly accelerated cold chain operations. Additionally, trade liberalization and expansion of retail chains by multinational companies are anticipated to boost industry growth over the forecast period. Moreover, rising governmental focus on the development and improvement of cold chain infrastructure, coupled with increased strictness on food safety regulations, is expected to fuel the growth of the global cold chain market in the forthcoming years. Despite these growth factors, negative environmental impacts posed by cold chain systems, such as the emission of harmful greenhouse gases, lack of standardization, and high operational costs, can restrain the growth of the global cold chain market. However, the adoption of software for cold chain logistics and increased demand for high-value pharmaceutical products transportation solutions across the entire distribution network is anticipated to provide remunerative growth opportunities for the market players in the near future.

Regional Insights

The eCommerce industry is growing rapidly in North America, Europe, and Asia-Pacific, fueling the cold chain logistics demand for the last-mile delivery of temperature-sensitive products, including fresh food, pharmaceuticals, and other products across these regions. The increasing consumer base for processed food in the UK, Germany, France, and other European countries is expected to increase the demand for cold chain solutions over the forecast period. At the same time, Asia-Pacific is anticipated to grow significantly due to increasing penetration of warehouse management systems (WMS) and government investment in logistics infrastructure development. Rising innovations in the pharmaceutical sector in India, China, and Japan are also expected to fuel cold chain solutions demand. Additionally, a significant factor driving the market includes the rapid expansion of biopharma in the region. China is a major contributor to regional growth attributed to technological advancements in the packaging, processing, and storage of seafood products. The growing demand for food products, increasing urbanization, government initiatives, expansion of the eCommerce industry, and focus on sustainability are boosting the growth of the cold chain market in the Asia-Pacific region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cold Chain Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing need for temperature control to prevent potential food loss and health hazards
Upsurging demand for perishable and frozen food items coupled with increased international trade for perishable goods
Burgeoning need across the pharmaceuticals and healthcare sectors

Market Restraints

Requirement of high power energy and associated infrastructure cost

Market Opportunities

Continuous technological innovations in refrigerator and cold chain equipment to maintain the durability of goods
Government support for cold chain infrastructure development worldwide

Market Challenges

Lack of skilled and experienced staff to adequately manage cold chain management

Market Segmentation Analysis

Component: Increasing demand of software solutions for data analytics, real-time monitoring, and operational optimization
Application: Widening adoption of cold chains in the food & beverage industry to maintain food safety and quality

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cold Chain Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cold Chain Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

JustDeliveries Aims to Foster Growth in India's Cold Chain Sector With Recent Funding

JustDeliveries, a cold chain solutions startup, has recently secured substantial funding of USD 1 million in its pre-Series A round, primarily spearheaded by NABVENTURES Fund, alongside contributions from notable entities such as FAAD Network, Anay Ventures, Caret Capital, and the Mahansaria family office. The injection of capital is earmarked for broadening its logistical footprint across major Indian cities including Bangalore, Mumbai, Pune, and NCR, and notably initiating operations in Hyderabad.

Innovating Pharmaceutical Cold Chain Management with Tower Control Center

Tower Cold Chain has unveiled its latest advancement, the Tower Control Center (TCC), enhancing the management of temperature-sensitive pharmaceutical shipments. This comprehensive portal is tailor-made to cater to the intricate needs of pharma companies, airlines, and third-party logistics providers, promising an enhanced user experience with its superior control functionalities. The TCC stands out by offering a unique simulation tool for precise planning of shipment conditions, coupled with a dynamic tracking feature that provides real-time updates on location and temperature.

Strategic Expansion in Cold Chain Logistics: Maersk’s New Cold Store Facility in Gujarat

A.P. Moller–Maersk has commenced construction of a state-of-the-art cold store facility in Mehsana, Gujarat, dedicated to serving HyFun Foods. This initiative signifies a notable expansion in cold chain logistics, designed to enhance the storage and distribution of perishable frozen processed foods. This proximity to HyFun Foods’ manufacturing base is set to centralize storage, ensuring efficiency and streamlining operations before dispatch.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cold Chain Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cold Chain Market, highlighting leading vendors and their innovative profiles. These include A.P. Møller - Mærsk A/S, Agri-Norcold A/S, Americold Logistics, Inc., AWL India Private Limited, Berlinger & Co. AG, Burris Logistics, Carrier Global Corporation, Cold Box Express, Inc., Cold Chain Technologies, Coldman Logistics Pvt.Ltd., Conestoga Cold Storage (Quebec) Limited, Confederation Freezers - Brampton, Congebec Logistics, Inc., Constellation Cold Logistics, Controlant, Cryopak Industries, Inc., Daikin Industries, Ltd., DGP Intelsius Limited, Elpro-Buchs AG, Emergent Cold LatAm Management LLC, FedEx Corporation, Frialsa Frigoríficos, S.A. de C.V., Frigoscandia, Friozem Armazéns Frigoríficos Ltda., Klinge Corporation, Lineage Logistics Holding, LLC, Magnavale Ltd., NewCold Coöperatief UA, Nichirei Logistics Group Inc., Nordic Cold Chain Solutions, Orbcomm, Rinac India Limited, RLS Logistics, Sealed Air Corporation, Snowman, Softbox Systems Ltd., Sonoco Products Company, SuperFrio Armazéns Gerais S.A., TEMPACK Packaging Solutions, S.L., Thermal Energy Service Solutions Pvt Ltd., Tippmann Group, Trenton Cold Storage, Inc., United States Cold Storage Inc., and VersaCold Logistics Services.

Market Segmentation & Coverage

This research report categorizes the Cold Chain Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Hardware
Networking Devices
RFID Devices
Sensors & Data Loggers
Telematics & Telemetry Devices
Software
Type
Refrigerated Storage
Cold Containers
Warehouses
Refrigerated Transport
Airways
Railways
Roadways
Waterways
Technology
Blast Freezing
Cryogenic Cooling
Evaporating Cooling
Vapor Compression
Temperature Range
-1 to -20 Celsius
0 to 15 Celsius
Below -20 Celsius
Application
Food & Beverage
Bakery & Confectionary
Dairy & Frozen Products
Fruit Pulp & Concentrates
Fruits & Vegetables
Meat & Seafood
Processed Food
Pharmaceuticals
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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