The Business Research Company’s Cold Chain Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, June 17, 2021 /EINPresswire.com/ — According to the new market research report ‘Cold Chain Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, the global cold chain market is expected to grow from $212.24 billion in 2020 to $239.67 billion in 2021 at a compound annual growth rate (CAGR) of 12.93%. The growth is mainly due to the increased demand for cold chain logistics from the processed food sector and the pharmaceutical sector. The cold chain market is expected to reach $344.51 billion in 2025 at a CAGR of 9.49%. Growing consumer demand for perishable foods contributed to the growth of the cold chain market.
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The cold chain market consists of sales of cold chain and related services by entities (organizations, sole traders, and partnerships) that provide cold chain storage services. These services are used for the management and transportation of temperature-sensitive products through refrigeration, thermal packaging, and other methods. This plays a crucial role in temperature control for the perishable goods and assures the quality and health of the perishable goods to the final consumer across the distribution chain.
Trends In The Global Cold Chain Market
Major companies operating in the cold chain market are continuously investing in automation solutions to survive in the competitive business environment. For instance, in January 2020, Kloosterboer, a Netherlands-based company engaged in providing innovative and sustainable solutions in the supply chain for temperature-controlled food products, invested in an automated and extremely sustainable reefer container terminal in its place in the port of Vlissingen. It was connected with 1020-reefer plugs and under the name of Kloosterboer container terminal Vlissingen. The container terminal was expected to be operational by mid-2020. The expectation is to process 250,000 TEU annually and was the first container terminal to use automatic cranes.
Global Cold Chain Market Segments:
The global cold chain market is further segmented based on type, temperature type, industry vertical and geography.
By Type: Refrigerated Warehousing, Refrigerated Transport
By Temperature Type: Frozen, Chilled
By Industry Vertical: Pharmaceutical, Healthcare, Food & Beverages, Chemical, Others
By Geography: The global cold chain market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the cold chain industry in 2020.
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Cold Chain Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cold chain global market overviews, analyzes and forecasts market size and growth for the global cold chain market, cold chain global market share, cold chain global market players, cold chain global market segments and geographies, cold chain global market’s leading competitors’ revenues, profiles and market shares. The cold chain global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Cold Chain Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Cold Chain Market Organizations Covered: Agro Merchants Group LLC, Americold Logistics, Lineage Logistics LLC, Nichirei Corporation, Burris Logistics Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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Source: EIN Presswire