Cold Chain Logistics Market Expected to Hit a Valuation of US$ 774.2 Billion During 2024-2032 | IMARC Group

BROOKLYN, NEW YORK, USA, February 22, 2024 /EINPresswire.com/ — IMARC Group’s latest report, titled “Cold Chain Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, provides an extensive analysis of the industry, including cold chain logistics market size, share, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market.

The global cold chain logistics market size reached US$ 258.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 774.2 Billion by 2032, exhibiting a growth rate (CAGR) of 12.96% during 2024-2032.

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Factors Affecting the Growth of the Cold Chain Logistics Industry:

• Technological Advancements:

The cold chain logistics market is significantly influenced by technological advancements that improve the efficiency and reliability of cold storage and transportation. Innovations such as IoT-enabled devices, advanced refrigeration systems, and warehouse automation help in monitoring and maintaining optimal conditions for perishable goods throughout the supply chain. These technologies facilitate real-time tracking, temperature control, and predictive analytics, reducing the risk of spoilage and ensuring the safety and quality of products. As technology continues to evolve, it enables more sophisticated logistics solutions, making the cold chain more accessible, cost-effective, and adaptable to varying climate conditions and geographic challenges.

• Regulatory Frameworks and Standards:

Regulatory frameworks and standards play a crucial role in shaping the cold chain logistics market. Governments and international bodies have implemented strict regulations regarding the handling, storage, and transportation of temperature-sensitive products to ensure public health and safety. These regulations necessitate businesses to comply with specific temperature controls, hygiene practices, and traceability requirements. Compliance with these standards drives investment in advanced cold chain solutions to meet quality and safety benchmarks, influencing market growth. Moreover, as consumers become more aware of food safety and quality issues, demand for products that adhere to these regulations increases, further propelling the market forward.

• Globalization of Trade:

The globalization of trade has expanded the market for perishable goods, creating a demand for effective cold chain logistics solutions across international borders. As consumers worldwide seek diverse and quality food products year-round, businesses are challenged to deliver fresh and frozen foods over greater distances without compromising quality. This has led to the development of more sophisticated and extensive cold chain networks capable of managing the complexities of cross-border regulations, varying climate conditions, and long-distance transportation. The growth of e-commerce in food retail further accelerates this trend, making the efficient and reliable cold chain logistics systems essential for catering to the global marketplace.

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Global Cold Chain Logistics Market Trends:

The global market is primarily influenced by the expanding international trade of perishable goods. This expansion is facilitating the need for efficient temperature-controlled transportation and storage solutions. Concurrently, the rising demand for fresh produce and pharmaceutical products, which require strict temperature regulation, is further propelling the market.

Furthermore, technological advancements in cold chain logistics, including improved refrigeration methods and real-time monitoring systems, are enhancing the efficiency and reliability of these services. Moreover, stringent government regulations regarding the transportation and storage of temperature-sensitive products are enforcing stricter compliance, thereby fueling the market.

Competitive Landscape with Key Players:

• Americold Realty Trust Inc
• Burris Logistics Co
• Cold Box Express Inc
• Conestoga Cold Storage
• Congebec Inc
• Lineage Logistics Holdings LLC (Bay Grove Capital Group LC)
• Nichirei Logistics Group Inc. (Nichirei Corporation)
• Snowman Logistics Ltd
• Tippmann Group
• United States Cold Storage Inc. (John Swire & Sons Ltd.)
• VersaCold Logistics Services

Cold Chain Logistics Market Report Segmentation:

By Type:

• Refrigerated Warehouses
• Refrigerated Transportation
o Railways
o Airways
o Roadways
o Waterways

Refrigerated warehouses are the most prevalent type due to their essential role in maintaining the quality and longevity of perishable goods through controlled temperature storage.

By Application:

• Fruits and Vegetables
• Bakery and Confectionary
• Dairy and Frozen Desserts
• Meat, Fish, and Sea Food
• Drugs and Pharmaceuticals
• Others

Dairy and frozen desserts represented the largest segment as these products require strict temperature control throughout their supply chain to ensure freshness and prevent spoilage.

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

North America’s dominance in the cold chain logistics market is attributed to its advanced infrastructure, stringent food safety regulations, and high demand for perishable goods.

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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