Dublin, April 20, 2018 (GLOBE NEWSWIRE) -- The "Cold Chain Market by Type (Refrigerated Storage and Transport), Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood, Fruits & Vegetables, Bakery & Confectionery), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Cold Chain Market is Estimated to be Valued at USD 203.14 Billion in 2018 and is Projected to Reach a Value of USD 293.27 Billion By 2023, at a CAGR of 7.6%.
The primary factors driving the global success of cold chain is the growth in international trade for perishable food products, expansion of food retail chains by multinationals, and government support for infrastructure development of cold chain industry. On the other hand, factors such as high energy and infrastructure costs are restraining the growth of the cold chain market.
On the basis of application, the frozen cold chain market is segmented into fruits & vegetables; bakery & confectionery products; dairy & frozen desserts; meat, fish, and seafood products; and others. The fruits & vegetables segment is projected to be the fastest-growing market during the forecast period.
The frozen fruits & vegetables have longer storage with minimal wastage, and are hence growing at the highest CAGR. Also, the global demand for healthy foods has subsequently fueled the demand for fruits & vegetables. Globalization and trade liberation have increased the global trade of fruits & vegetables. The cold chain also 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.
Deterioration of food is mainly caused by the activity of microorganisms, which may be present in food ingredients or may be introduced during the handling and processing of the food. Chilling reduces the food temperature below the ambient temperature, but keeps it above -1 C (30.2 F). Effective short-term preservation of food products is possible using this method, as it inhibits microbial, physical, chemical, and biochemical reactions associated with food spoilage and deterioration, driving the chilled segment for cold chain market.
India: The future of the cold chain industry
The Indian government is encouraging the setting up of cold storage facilities by providing subsidized power tariffs, public-private partnerships, and awareness campaigns to ensure year-round availability of perishable food products and reasonable prices to consumers with equitable distribution throughout the country. The increasing working-class population in India is one of the major drivers for growth in the food & beverages market and also creating an opportunity for cold chain service providers.
Market Dynamics
Drivers
- Increase in Preservation of Convenience Food Products Due to Modernization
- Growing Consumer Demand for Perishable Foods
- Growth of International Trade Due to Trade Liberalization
- Increasing Need for Temperature Control to Prevent Potential Health Hazards
Restraints
- High Energy & Infrastructure Costs
- Environmental Concerns Regarding Greenhouse Gas Emissions
Opportunities
- Growing Demand for Organized Retail
- Government Support for Infrastructure Development to Reduce Post-Harvest & Processed Food Wastage
- Increasing Foreign Direct Investments in Emerging Markets
Challenges
- Lack of Infrastructural Support in Emerging Markets and of Skilled Resources in Developed Markets
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Means of Temperature Control
7 Cold Chain Market, By Technology
8 Cold Chain Market, By Type
9 Cold Chain Market, By Temperature Type
10 Cold Chain Market, By Application
11 Cold Chain Market, By Region
12 Competitive Landscape
13 Company Profiles
- Agro Merchants Group
- Americold Logistics
- Burris Logistics
- Interstate Cold
- Kloosterboer Group B.V.
- Lineage Logistics Holdings, LLC
- Nichirei Corporation
- Preferred Freezer Services
- Swire Cold Storage
- Versacold Logistics
For more information about this report visit https://www.researchandmarkets.com/research/zls8gr/293_billion_cold?w=12