- Cold Chain Storage
- Cold Chain Transport
Cold Chain Market size was valued at USD 242.8 billion in 2022 and is poised to grow at a significant CAGR of 7.9% from 2023-2029. Due to an increase in the number of cold chain facilities in developed and developing countries. Moreover, the rise in the adoption of processed food products, and technological advancements in packaging and storage are the major factors that are driving the growth of the cold chain market over the forecast years. The term "cold chain" refers to a system that combines temperature-controlled surface transportation with a supply chain. It refers to the freezing solutions used to keep things including fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical in good condition and with a long shelf life. Cold chains are critical for increasing the shelf life of products, minimizing overcapacity, decreasing transportation bottlenecks during peak periods, and ensuring product quality. Over the projected period, the industry is expected to develop because of the increasing penetration of connected devices and the automation of refrigerated warehouses around the world. Increased demand for cold chain solutions is being driven by an expansion in the number of organized retail establishments in emerging economies. Furthermore, over the projected period, trade liberalization, government measures to reduce food waste, and multinational company expansion of retail chains are likely to drive sector growth. The World Trade Organization (WTO) and bilateral free trade agreements, such as the European Union Free Trade Agreement (FTA) and the North America Free Trade Agreement (NAFTA), have allowed exporters in the United States and Europe to grow perishable food trade while avoiding import tariffs.
Fastest Growing Market
Increase in the consumption of frozen food products is a key factor drive the growth of global cold chain market over the forecast years. Moreover, rise in population demanding for healthy food, meat, and dairy products, increase in international trading of meat and frozen products, government initiations for cold storage facilities coupled with stringent regulations for food safety are boost the global cold chain market over the forecast years.
Middle East and Africa (MEA)
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Cold Chain Market size was valued at USD 242.8 billion in 2022 and is expected to reach a value of USD 361.3 billion by 2029, growing at a CAGR of 7.9% during the forecast period 2023-2029.
The key drivers of the cold chain market include the growing demand for perishable goods, expanding global food trade, and increasing adoption of temperature-sensitive pharmaceuticals.