Global cold chain market forecast to grow 7% annually

Global cold chain market forecast to grow 7% annually

The global cold chain market is projected to grow at a compound annual growth rate (CAGR) of 7.0% during the forecast period from 2015 until 2020. Meat, fish, and seafood accounted for the largest market share in 2014, and India is predicted to be the future of the cold chain industry.

This complete report on global cold chain market consists of 174 pages, profiling 10 companies and supported with 86 tables and 66 figures. It is now available by clicking here.

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The cold chain market was estimated to be valued at US $167.24 billion in 2015 and is projected to reach a value of US $234.49 billion by 2020. This report analyzes the cold chain market, in terms of type, application, temperature range, technology, and region. The market has grown steadily in the past few years, and this trend is projected to continue until 2020. Primary factors driving global success of the cold chain are growth in international trade for perishable food products and changing consumer preferences.

Based on application, the cold chain market is segmented into fruits and vegetables; bakery and confectionery; dairy and frozen desserts; meat, fish, and seafood, and others. The cold chain plays a key role in storage and transport of meat, fish, and seafood products as they require refrigeration right after slaughter, during processing, and during packaging. This segment accounted for the largest market share in 2014 due to increasing consumer preference for packaged food products.

On the basis of temperature range, the cold chain market is further segmented into chilled and frozen. With increasing trade of perishable food products, demand for cold chain is expected to enhance the market growth in the near future.

The cold chain market is segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Projected to be the fastest-growing market during the forecast period is the Asia-Pacific region. The market is growing in India due to increasing disposable income of the people, changing consumption patterns, and increasing expansions and acquisitions of key players. These include Americold Logistics LLC, Preferred Freezer Services, and Nichirei Logistics Group Inc (Japan) in South Africa and Thailand.

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