Freezing a food product to preserve it for a longer life span has been in practice for ages and is “the” best way to magnify natural lifespan of products such as fruits, vegetables, dairy, meat, and other such short-lived products. A cold chain system has the required means to control and provide constant temperature. These systems assist distribution, and storage of food to different parts of the globe. The global cold chain market is driven by the growing demand from various geographic locations and increasing demand for such foods. The industry aims for impressive investment opportunities across emerging economies.
The global cold chain market is segmented first by the type of systems, second by the products, third by its applications and lastly by geographies. Refrigerated transport and refrigerated storage are the segments studied in the type of systems segmentation. In the product-wise segmentation, we analyze chilled and frozen products. The key application segments of this market are fruits & vegetables, meat, seafood and fish, confectionary & bakery and other products (condiments, sauces, dips, and salad dressings). North America, Europe, Asia-Pacific, Middle East & Africa and Latin America are the regions studied in this market intelligence.
As per this research, the increasing demand for frozen food is the principal factor driving the growth of the global cold chain market. Moreover, the booming global trade of perishable food and technological developments in refrigeration and cold chain systems are also foreseen to create potential growth opportunities for this sector. Asia-Pacific, Latin America, and Middle East & Africa are some of the emerging markets with a heightened requisite for perishable foods are deemed to create growth prospects for the established players in the market. On the other hand, the lacking infrastructural support and its high maintenance cost, rising costs of infrastructure and energy are some of the factors restraining the growth of this market. This market intelligence predicts a steady rise in demand for this market with growing opportunities across the globe, especially in emerging markets.
As per the current trends, the global cold chain market is anticipated to achieve a certain growth rate of more than 15% over the forecast period of 2017 to 2025. North America is predicted to account for the greater share of this market, alleging about 40% of the total market share. Other regions are also well placed to witness substantial growth as well.