Cold Chain Logistics Market Size, Share, Trends, Growth, and Industry Analysis, By End-use Industry (Fruits & Vegetables; Bakery & Confectionary; Dairy & Frozen Desserts; Meat, Fish, & Sea Food; Drugs & Pharmaceuticals; and Others), By Transportation (Railways, Airways, Roadways and Waterways), Regional Insights and Forecast to 2031
global cold chain logistics market size was USD 255 billion in 2022 and is predicted to reach USD 855.26 million in 2031, exhibiting at CAGR of 15.07% during the forecast period.
The cold chain logistics market, along with the supply chain, is the technology and process that allows for the safe transport of temperature-sensitive goods and products such as fresh agricultural products, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs. It has an effect on every step of the supply chain, including last-mile delivery, storage, and transportation. The transportation modes for product supply include refrigerated trucks, refrigerated railcars, refrigerated cargo, and refrigerated air cargo. Utilizing temperature-controlled warehouses for storage and cold insulated delivery trucks for product distribution are further steps in the process. Furthermore, cold chains are essential for extending marketing, preventing overcapacity, reducing transport bottlenecks during peak periods, and maintaining product quality.
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Market Growth
The global cold chain logistics market is expected to grow during the forecast period. due to a growing demand for refrigerated warehouses in both developed and developing economies. Cold chain logistics, or cold storage transportation, was used during the pandemic to carry out the vaccination increase. This cold chain logistics market is expected to grow as there is a great demand in the pharmaceutical sector. The pharmaceutical market will provide great business for cold chain logistics. The food and beverage industry also makes use of cold chain logistics, and it is expected to boost the demand for cold chain logistics. There has been a growth in the market due to constant research and development to have more effective services. There is an increase in the use of radio frequency identification technology in this market, and this is expected to provide good growth during the forecast period.
The increased use of this software in various industries that make use of cold chain logistics will provide better growth for the market in the forecast period. As the number of distribution channels, such as supermarkets, hypermarkets, and various types of convenience stores, increases, so will the demand for cold storage logistics. Policies by the government relating to the trade of various food products that will be helpful in reducing the wastage of food will also be helpful in having an effective distribution channel. The use of coal storage and transportation options will increase.
The expanding businesses of these retail chains around the world, as well as their expanding operations in both developing and developed countries, will aid in providing better opportunities for growth of the cold chain logistics industry during the forecast period, as demand for refrigeration for transportation and storage rises. There has also been an increase in the initiatives taken by various countries that are supportive of developing the market for cold chain logistics in developing nations. These government regulations also place a strong emphasis on coming up with novel ways to transport and store different food items that require temperature control. Following the pandemic, there will be more opportunities in the market due to an increase in delivery services as demand for processed and perishable food items increases.
Covid-19 Impact Analysis
The COVID-19 crisis is creating uncertainty in the market by slowing down the logistics services, thus hampering business growth and increasing panic among customers. Governments in various regions declared total lockdown and the temporary shutdown of industries, resulting in border closures that hampered the movement of transportation and logistics services. Following the COVID-19 health crisis, the global business outlook has shifted dramatically. Moreover, the overall service activities of market players have declined owing to the drastic fall in demand for cash usage to prevent the risk of contamination. As per the current scenario, the overall world is getting back on track slowly with the new restrictions and policies, and a significant recovery in product sales across the retail sector may assert a positive influence on the cold chain logistics market to support the economic activities across all industries.
REPORT SCOPE & SEGMENTATION:
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Report Attribute |
Details |
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Projected Market Value (2031) |
855.26 billion |
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Estimated Market Value (2022) |
255 billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End use Industry, Business Type, Transportation and Region |
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Segments Covered |
By End user Industry type, By Business type, By Transportation and Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Regional Analysis
North America held the largest revenue share of more than 35% in 2022 and will retain the dominant position throughout the forecast period as the region has significant growth opportunities for the companies planning to invest for the long haul. A growing number of connected devices and a large consumer base are also expected to fuel market growth in the forecast period. The Asia Pacific region dominated the market with a 45 percent share in 2022, as there has been an increase in funding from the governments of various countries for growing the cold chain logistics infrastructure. The market for cold chain logistics has grown as a result of the high demand for various types of processed food and goods and the rise in demand for frozen dairy products and even meat products. The countries of Japan, South Korea, China, and India have had the most growth in this market. The largest market share for the application of cold chain logistics is in these regions. The market for cold chain logistics is expected to grow over the forecast period due to the increasing number of pharmaceutical companies and foreign direct investment (FDI).
China is a main contributor to the APAC regional market. The market growth in China is due to factors such as technological advancements in the packaging, processing, and storage of seafood products. Rising demand and growing cold chain infrastructure development have made China a top market leader for cold chains. Currently, China is undergoing a rapid shift from a construction- and manufacturing-led economy to a consumer-led economy. Rising innovations in the pharmaceutical sector in China are also expected to boost demand for the cold chain market. Another major factor driving the market is the rapid expansion of biopharma in this region.
In a news briefing earlier this month, Zhang Jiangbo, the deputy director-general of the economic and trade department at the National Development and Reform Commission, noted that China's cold-chain network is currently experiencing a number of difficulties, including the absence of significant logistics hubs and an undeveloped national network. As both urban and rural populations' quality of life has increased, so has the need for fresh food. "The public wants to eat food that is both healthy and safe, in addition to excellent meals. For this reason, cold-chain logistics has gained more and more attention and drives the cold-chain logistics market. The report covers details of each country's top manufacturers and key players and their investments in the cold chain logistics market.
Competitive Landscape
The global Cold Chain Logistics Market Some of the major companies include: -
Global Cold Chain Logistics Market, Segmentations
By End-use Industry
By Business Type
Global Cold Chain Logistics Market, Regional Outlook
Research Methodology
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Data Collection
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Primary Research
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Secondary Research
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Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
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Quality Checking & Final Review
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