A recent report published by Infinium Global Research on the cold chain storage market provides in-depth analysis of segments and sub-segments in the global as well as regional cold chain storage market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cold chain storage market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global cold chain storage market. According to the report, the global cold chain storage market is projected to grow at a CAGR of 16.1% over the forecast period of 2021-2027.
The cold chain storage market was valued at USD 244.6 billion in 2021 and is expected to reach USD 598.00 billion in 2027, growing with a CAGR of 16.1% during the forecast period. Cold chain is an amalgamation of temperature-controlled surface transport and supply chain. It denotes the freezing solutions planned to maintain the quality and shelf life of the products, for instance, fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs. Furthermore, cold chains are important for extending periods of marketing, avoiding overcapacity, plummeting transport bottlenecks during peak periods, and maintaining the quality of a product. The procedure includes the utilization of temperature-controlled warehouses for storage and cold insulated transport vehicles for products distributions. Cold chain storage solutions are extensively used to transport and store fruits, vegetables, meat, beef, medicines, and drugs.
Cold chain storage plays a fundamental role in reducing the wastages of the fresh products and commodities overall providing remunerative prices to the farmers. For the pharmacy industry, cold chain storage plays an important role in raising the efficacy of the drug throughout the supply chain to the end customers. Furthermore, factors such as an upsurge in the number of refrigerated warehouses, the processed food sector, and high growth in the pharmaceutical sector are anticipated to drive the growth of the cold chain storage trend. However, factors such as lack of standardization and high operational cost hinder the growth of the market. On the other hand, RFID technologies for cold chain applications and the adoption of software provide lucrative growth opportunities for the cold chain storage market players.
Among the geographies, the North American region is expected to hold the largest share in the global cold chain storage market owing to the presence of numerous key players in the region. Further, the region is also anticipated to account for the major market share and is considered the most advanced region in terms of new innovative technologies. Moreover, the Asia Pacific region is projected to witness the fastest growth in the cold chain storage market during the forecast period owing to the shift of industrialization, and investments in the region have grown substantially over the past decade, particularly in China and India. Additionally, the Asia Pacific region is home to a creditable amount of storage units, which are progressively embracing the adoption of advanced technologies in developing economies such as China and India drive the cold chain storage market in this region.
The report on the global cold chain storage market covers segments such as temperature type, application, and technology. On the basis of temperature type, the sub-markets include chilled, and frozen. On the basis of application, the sub-markets include fruits & vegetables, bakery & confectionery, pharmaceuticals, dairy & frozen desserts, fish, meat, and seafood products, and others. On the basis of technology, the sub-markets include blast freezing, vapor compression, programmable logic controller (PLC), evaporating cooling, cryogenic systems, and others.
The report provides profiles of the companies in the market such as Nichirei Corporation, Americold, Preferred Freezer Services, LLC, AGRO Merchants Group, LLC, Cloverleaf Cold Storage, Interstate Cold Storage, Inc., Trenton Cold Storage, Burris Logistics, Lineage Logistics Holdings, LLC, and Hanson Logistics.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cold chain storage market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.