USD 236.03 billion
Cold Chain Market Size, Share, Growth Analysis, By Type (Cold Chain Storage & Infrastructure, Refrigerated Transportation Services), By Temperature (Chilled, Frozen, Deep-Frozen), By Technology (Blast Freezing, Vapor Compression), By Temperature Control (Conventional Refrigeration, Packaging Materials), By Region -Industry Forecast 2025-2032.
Report ID:
SQMIG25C2104 |
Region:
Global |
Published Date: November, 2024
Pages:
165
|Tables:
92
|Figures:
76
Cold Chain Market Insights
Cold Chain Market size was valued at USD 237.58 Billion in 2023 and is poised to grow from USD 262.29 Billion in 2024 to USD 578.81 Billion by 2032, growing at a CAGR of 10.40% during the forecast period (2025-2032).
A cold chain is a supply chain that operates at a low temperature. An unbroken cold chain is an unbroken series of refrigerated manufacturing, storage, and distribution activities, as well as accompanying equipment and logistics, that preserve quality by operating within a specified low-temperature range. It is used to preserve, extend, and assure the shelf life of products such as fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and medicinal products.
Such products are commonly referred to as cool cargo while in transit or transit storage. Cold chain items, unlike other goods or merchandise, are perishable and always en route to ending usage or destination, even when temporarily housed in cold stores, and are thus usually referred to as "cargo" throughout their full logistical cycle.
Over the projected period, the increasing trade of perishable products and rising government assistance for the building of infrastructure for cold chain facilities are expected to fuel market growth. Cold chain service providers are also implementing cutting-edge technologies to meet the growing demand for food safety in processed goods. This is likely to give several opportunities, resulting in the expansion of numerous multinational suppliers into the market to provide superior cold chain solutions.
Stringent food safety laws, such as the Food Safety Modernization Act, which requires enhanced attention to cold storage warehouse building, are also projected to assist the market. However, environmental worries about greenhouse gas emissions are expected to stymie the growth of the industry.
Global refrigeration warehouse automation and increasing connected device penetration are expected to fuel market growth over the forecast period. The demand for cold chain solutions is rising as organized retail outlets proliferate in emerging economies. Additionally, over the course of the forecast period, industry growth is anticipated to be aided by trade liberalization, government initiatives to reduce food waste, and the expansion of retail chains by multinational corporations. The World Trade Organization (WTO) and bilateral free trade agreements, such as the North America Free Trade Agreement (NAFTA) and the Free Trade Agreement with the European Union (FTA), have made it possible for exporters in the United States and Europe to expand trade in perishable foods without paying import taxes.
US Cold Chain Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fruit & Vegetable
Fastest Growth
Dairy & Frozen Desserts
Growth Rate
18.6% CAGR
Global Cold Chain Market($ Bn)
Country Share for North America (%)
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Cold Chain Market Segmental Analysis
Global Cold Chain Market is segmented into Type, Temperature, Technology, Temperature Control, Application, and region. By Type, the market is classified into Cold Chain Storage & Infrastructure, Refrigerated Transportation Services, Refrigerated Sea Transportation Services, Refrigerated Rail Transportation Services, Refrigerated Air Transportation Services. Depending on the Temperature, it is categorized into Chilled, Frozen, Deep-Frozen. According to Technology, the market is divided into Blast Freezing, Vapor Compression, Programmable Logic Controllers, Evaporating Cooling, Cryogenic Cooling Systems, Other Technologies. Based on Temperature Control, the market is segmented into Conventional Refrigeration, Packaging Materials. Based on Application, the market is segmented into Food & Beverage, Pharmaceutical, Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Cold Chain Market Analysis by Temperature Type
By temperature type, the chilled category is expected to increase at the fastest CAGR during the forecasted period. Chilled products passing via the cold chain are chilled by lowering food temperatures to below ambient temperatures but above –1°C. Chilling food products between 0°C and +5°C is an efficient method of preserving food for shorter periods. Because it slows down many of the microbiological, physical, chemical, and metabolic events that cause food rotting and deterioration. Chilling lowers food spoilage and enhances food safety and quality by slowing the rate of growth of germs. With a 31.5% market share in 2021, the Asia Pacific region is the largest market for chilled cold chains.
Global Cold Chain Market BY Application
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Cold Chain Market Regional Insights
North America had the highest revenue share of more than 35% in 2021 and it is anticipated to maintain its dominance throughout the forecast period, as the region offers enormous growth prospects for enterprises willing to invest for the long term. Increased adoption of connected devices, as well as a huge customer base, are projected to drive market growth over the forecast period. However, due to increased government investments in logistics infrastructure development and the penetration of Warehouse Management Systems, Asia Pacific is expected to be the fastest-growing regional market over the forecast period (WMS). China is the most significant contributor to the APAC regional market. Factors such as technological developments in packing, processing, and storage of marine items are credited to market expansion in China. Rising demand and expanding cold chain infrastructure development have propelled China to the top of the cold chain industry. China is currently undertaking a rapid shift from construction- and manufacturing-led to a consumer-led economy. Rising pharmaceutical innovation in China is also projected to enhance demand for cold chain solutions. Another important element boosting the market is the region's rapid expansion of biopharma.
Global Cold Chain MarketBy Region
- Largest
- Fastest
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Cold Chain Market Dynamics
Cold Chain Market Driver
- Consumers are becoming more conscious of the importance of health and wellbeing, as well as the impact that food components, particularly protein, have on total physical and mental growth and development. This has led to a shift in perishable food consumption patterns, such as dairy products, fruits and vegetables, and high-protein animal-based goods (such as meat, eggs, and fish and seafood).
- Increasing urbanization has led to an increase in the demand for convenient food products. Furthermore, customers' increasing preference for convenience and longer shelf life is contributing to the acceptance of nutritious frozen meals, which is fueling the expansion of dairy and frozen sweets. Because food quality is so important, the dairy and frozen dessert industries are investing extensively in technologies that can help support and differentiate products.
Cold Chain Market Restraint
- A key concern for manufacturers, retailers, and consumers in the food industry is to preserve food quality and safety by preventing early expiry, decay, and spoilage. To accomplish this, service providers must invest in advanced cold storage facilities, advanced vehicles, and system technology. High energy costs, on the other hand, are a growing source of worry for cold chain providers (energy costs are exceptionally high in North America and Europe). Refrigerated storage facilities use typical fluorescent light lights that are turned on all year because it is mandated by regulations. Several governments have attempted to increase infrastructure investment in the cold chain, pre-cooling facilities, refrigerated storage and transportation, packaging, and information management systems.
- Fuel costs and effective fuel consumption management are two other key challenges for cold chain providers, as the need for refrigerated trucks in cold chains has expanded in recent years, particularly in North America and Europe. Emerging economies, on the other hand, face unique challenges when it comes to operating cold chains. Cold chain enterprises have substantially higher annual operating expenses per cubic foot.
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Cold Chain Market Competitive Landscape
The key players in the cold chain market are always improving their technologies to keep ahead of the competition and to maintain efficiency, integrity, and safety. Vendors have implemented Hazard Analysis and Critical Control Points (HACCP) and RFID technology to improve efficiency with smaller shipments. In addition, they are expanding their multi-compartment refrigerated vehicle fleets to provide additional services to consumers. Some of the major players in the global cold chain market are Americold Logistics, Lineage Logistics Holdings, Nichirei Corporation, Burris Logistics, Agro Merchants Group, and Kloosterboer.
Cold Chain Market Top Player’s Company Profiles
- Americold Logistics, Inc.
- Lineage, Inc.
- Nichirei Corporation
- Burris Logistics
- A.P. Moller - Maersk
- Tippmann Group
- Coldman Logistics Pvt. Ltd.
- Congebec
- Conestoga Cold Storage
- Newcold
- Seafrigo Group
- Trenton Cold Storage
- Blue Water Shipping
- Constellation Cold Logistics S.À R.L
- Antarrtica Cold Storage
- APF Cold Storage & Logistics
- JS Davidson
- Coldrush Logistics
- Canadian Dry Storage Ltd.
- Ruiyun Cold Chain
Cold Chain Market Recent Developments
- In April 2022, Lineage Logistics, LLC announced the signing of a definitive agreement to acquire VersaCold Logistics Services ("VersaCold"), a leading cold chain solution provider in Canada, from TorQuest Partners ("TorQuest") and its co-investment partners, the Investment Management Corporation of Ontario ("IMCO") and OPTrust. The transaction's financial specifics were not disclosed.
- In April 2022, Lineage Logistics, LLC announced the development of a next-generation automated cold-storage facility in Windsor, Colo., on behalf of JBS USA ("JBS"), a leading global food company.
- In January 2022, BJ's Wholesale Club, agreed to buy the assets and operations of four distribution centers, as well as the associated private transportation fleet, from longtime partner Burris Logistics. BJ's will be able to outsource its perishable supply chain as a result of the agreement. The transaction's terms were not disclosed.
Cold Chain Key Market Trends
- The growing trend of purchasing perishable food products online has created a demand for innovative solutions such as last-mile delivery, automated warehouses to manage inventory, and improved temperature monitoring systems to ensure the safety of fresh food products. Emerging economies (such as India, China, and Thailand) are investing in warehouse automation technologies (such as cloud technology, robots, conveyor belts, truck loading automation, and so on) to maintain the quality of temperature-sensitive products.
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To maintain quality and extend the shelf life of perishable food products, the demand for cutting-edge temperature monitoring equipment also increase. Nowadays, consumers are more aware of wellness, health, and the impact that food nutrients—particularly protein—have on both general mental and physical growth. This has changed how perishable goods like fruits, vegetables, dairy products, meat, eggs, fish, and seafood are consumed.
Cold Chain Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, During the forecast period, the dairy & frozen desserts category is expected to account for the largest share in the cold chain market by application. The primary concern with transporting dairy and frozen desserts is maintaining constant temperature control, as well as avoiding dust and exposure to sunlight. Cold chain transportation services assist in overcoming these issues by maintaining low temperatures (-18°C to 4°C) or (-0.4°F to 39.2°F) to lengthen their shelf-life. For ages, milk and dairy products have been linked to foodborne illnesses. They are one of the most tightly controlled foods. Cold chain logistics are critical for preserving dairy product quality. The cold chain guarantees that low temperatures are maintained throughout the supply chain, as required by dairy products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 215.20 billion |
| Market size value in 2031 | USD 524.28 billion |
| Growth Rate | 10.40% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cold Chain Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cold Chain Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cold Chain Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cold Chain Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cold Chain Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cold Chain Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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