As per the published report, the global cold chain market size is estimated to arrive at USD 628.26 billion by 2028. It is projected to develop by 14.8% CAGR from 2021 to 2028.
Methodological advancement in the processing, storage as well as packaging, of the seafood items is anticipated to impel the expansion of the market for cold chain, during the forecast period.
Cold chain solutions have developed into a fundamental component of the Supply Chain Management (SCM), for the transport as well as storage space of heat susceptible goods. Rising business of the perishable goods is expected to force demand for the cold chain, throughout the forecast period.
The companies, working in this market are progressively more accepting different power sources, like solar and wind energy, to decrease general working overheads. Between the cold chain resolutions, the refrigeration technique is utilized to preserve the excellence of the goods, along with increase their shelf life.
Brazil, in South America region is the most important development provider of the cold chain market. The execution of the nutritional strategy, directed by the Brazilian government, on the management of fresh and processed foodstuff products, is estimated to increase the market growth within the nation.
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Further key findings from the report suggest:
• The Government of India strongly maintained on the progress of the cold chain business and is cheering the private involvement through the introduction of financial assistance proposal and presenting awards.
• Radio Frequency Identification (RFID) facilitated supply chain offers greater effectiveness as well as has initiated innovative enlargement prospects by means of presenting visibility at product stage.
• As a result of a change in concentration from the rising efficiency to providing enhanced transportation and storage space amenities, the market for cold chain has achieved importance in emergent nations like India and China.
• Increasing figure of imitation events regarding the foodstuff and pharmaceutical products, the concerns about its safety and the globalization of the business have forced the administrations to make tighter system, regarding manufacture as well as supply
• Monitoring of the linked equipment, tracking of material & men, neat wrapping, lifecycle administration of the sample, and cold chain procedure, are the very much important IoT applications of the pharmaceuticals manufacturing
Million Insights segmented the global cold chain market based on Application, Equipment, Packaging, Type, and Region.
Cold Chain Type Outlook (Revenue, USD Million, 2017 - 2028)
• Reefer Containers
• Monitoring Components
• RFID Devices
• Networking Devices
Cold Chain Packaging Outlook (Revenue, USD Million, 2017 - 2028)
• Insulated Containers & Boxes
• Payload Size
• Large (32 to 66 liters)
• Medium (21 to 29 liters)
• Small (10 to 17 liters)
• X-small (3 to 8 liters)
• Petite (0.9 to 2.7 liters)
• Cold Chain Bags/Vaccine Bags
• Corrugated Boxes
• Cold Packs
• Temperature-controlled Pallet Shippers
• Insulating Materials
• Cryogenic Tanks
• Others (Insulating Pouches, Hard Cased Thermal Boxes, and Active Thermal Systems)
Cold Chain Equipment Outlook (Revenue, USD Million, 2017 - 2028)
• Storage Equipment
• Walk-in Coolers
• Walk-in Freezers
• Ice-lined Refrigerators
• Deep Freezers
• Solar Chillers
• Milk Coolers
• Solar-powered Cold Boxes
• Others (Solar Refrigerators and Products related to Solar Panels)
• Transportation Equipment
Cold Chain Application Outlook (Revenue, USD Million, 2017 - 2028)
• Fruits & Vegetables
• Fruit Pulp & Concentrates
• Dairy Products
• Ice cream
• Fish, Meat, and Seafood
• Processed Food
• Blood Banking
• Bakery & Confectionary
• Others (Ready-to-Cook, Poultry)
Cold Chain Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• South Korea
• South America
• Middle East
• Saudi Arabia
• South Africa
Various companies for cold chain market are:
• Creopack (Canada)
• Cold Chain Technologies, Inc. (U.S.)
• Nordic Logistics and Warehousing, LLC (U.S.)
• Cold Box Express, Inc. (U.S.)
• Cryopack Industries, Inc. (U.S.)
• Preferred Freezer Services, LLC (U.S.)
• Agro Merchant Group (U.S.)