Refrigerated Transport Market Size, Share, Growth Analysis, By Product(Chilled Food and Frozen Food), By Temperature(Multiple Temperature and Single Temperature), By Mode of Transport(Road, Sea, Rail, Air), By Technology(Vapour Compression Systems, Eutectic Systems, Cryogenic Systems, Others), By Region - Industry Forecast 2024-2031

Refrigerated Transport Market Driver

Rising demand for frozen perishable products

• Globally increased female employment, the rapid impact of the pandemic and increasingly frantic lifestyles along with a work-from-home culture is changing consumer perception of frozen meals. Growth forecasts for frozen foods are encouraging, with opportunities emerging from emerging regions such as Asia Pacific, South America, and Eastern Europe. When weather conditions hamper agricultural productivity, frozen meals are preferred because they have a longer shelf life. Food manufacturers try to provide consumers with cost-effective frozen, processed, and packaged foods. Freezing techniques are an excellent way to transfer food from farmer's markets to supermarkets while increasing affordability and accessibility and reducing food waste. The growth of service sectors such as fast-food chains, quick-service restaurants, and supermarkets is driving the demand for frozen foods.

Refrigerated Transport Market Restraint

High energy costs and the need for significant capital investments

• Preventing premature expiration, decay and spoilage is a major goal of food producers, traders, and consumers in the food sector. Service providers must now invest in new cold storage facilities, advanced vehicles, and system technology. On the other hand, high energy costs are a major problem for cold chain suppliers. Rising fuel costs and effective fuel consumption management are two key challenges for cold chain suppliers, as the need for refrigerated trucks in the cold chain has increased in recent years, especially in North America and Europe.