The Cold Chain Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Cold Chain Market is estimated to be USD 217.03 billion in 2018 and predicted to rise to USD 311.57 billion by 2023 with a CAGR of 7.5%. The Global Cold Chain market is segmented by Type, Temperature Type, Technology, Application and Geography. By the Cold Chain Type, the market is classified into Refrigerated Storage and Transport. By Temperature Type, the market is separated into Chilled and Frozen. By the type of Technology, the market is segmented into Air-blown and Eutectic. Lastly, by Application the Cold Chain market is categorized into Fruits & Vegetables, Dairy, Bakery & Confectionary, Meat, and Seafood. Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The Cold Chain market is driven by factors such as speedy growth of international trade of perishable foods, technological progress in refrigerated transport & storage, infrastructure improvement support by the government and the increase in enlargement of food retail chains by MNCs. Growing demand from consumers for goods like dairy products, fresh vegetables and fruits, etc. which involve cold chains is predicted to be the major factor driving the growth of the Global Cold Chains Market. High quality check standards set by governmental agencies and the associated costs of temperature management equipment are the constraints faced by the market.
The dairy & frozen desserts is projected to account for the biggest market share in the cold chain market in 2016, due to their necessity for continual temperature regulation as these products are sensitive to temperature, dust, and exposure to sunlight. Dairy & frozen desserts are seeing great demand due to economic development and swift urbanization, along with refined marketing channels which have led to important changes in dietary patterns. Government procedures in China notify that milk is a key provider of calcium and protein, and endorse steady milk intake, which has led to milk and dairy products being assimilated into the everyday diet of users. The frozen products segment is projected to account for the largest share in the cold chain market, in terms of value, in 2016. A wide diversity of products such as ice cream, meat, and seafood are stored at subzero temperatures of between -18° C to -24° C. Freezing reserves the taste, texture, and nutritional value of foods superior to other preservation methods.
Europe is the largest market share holder in the market because of the highest per capita demand, globally followed by North-America. Asia-Pacific is catching up fast due to rising consumer expenditure, increasing consumption and growing infrastructure for Cold Chains. Furthermore, Asia-Pacific is growing at the highest CAGR of 10.2%. Latin America and Africa are also expected to project high growth rates. Cooling requirement for meat products in Africa and the Middle-East are the major drivers of the market in this region.
Dairy & frozen desserts are seeing great demand due to economic development and swift urbanization, along with refined marketing channels which have led to important changes in dietary patterns Browse through the full report at https://www.marketdataforecast.com/market-reports/cold-chain-market-2653/ and checkout our recent reports in the Processed Food at https://www.marketdataforecast.com/subcategory/processed-food-15/ For more insights and up-to-date industry news don’t forget subscribing to our newsletters.