North America Cold Chain Market To Reach $333.96 Billion By 2030

North America Cold Chain Market Growth & Trends

The North America cold chain market size is expected to reach USD 333.96 billion by 2030, registering a CAGR of 17.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The cold chain industry manages the transportation and storage of temperature-sensitive products such as vaccines, medicines, food, and other perishable goods. This industry is vital for ensuring that these products maintain their quality and safety throughout the supply chain. The growth is driven by various factors, including changing consumer preferences, increasing demand for fresh and frozen foods, and the growth of e-commerce.

The growing number of automated refrigerated warehouses further fuels the growth. Moreover, the market has benefitted significantly from the growing penetration of connected devices. The growing population has led to the increased consumption of foods and beverages, driving the demand for packaging products and solutions. The increasing penetration of the organized retail sector in emerging economies has propelled the demand for packaged food. Furthermore, increasing Foreign Direct Investments (FDI) in emerging economies will enable U.S.-based cold chain companies to tap opportunities in these marketplaces.

Telematics can be crucial in the cold storage sector to ensure the safe and efficient transportation of perishable products. Telematics systems can be used to monitor the temperature and condition of the cargo during transit, which can help prevent spoilage and reduce waste. This can significantly increase the efficiency and reliability of the supply chain, as companies can be confident that their products will reach their destination in good condition.

Moreover, telematics can also be used to improve the accuracy and efficiency of inventory management in cold storage facilities. This can help reduce waste and minimize the costs associated with storage and transportation. For example, telematics systems can monitor the inventory's temperature and condition in real-time, allowing companies to quickly respond to any issues that may arise from temperature fluctuations, such as spoilage or product contamination.

The outbreak of the COVID-19 pandemic became a severe issue worldwide immediately. The coronavirus's epicenter shifted from China to Europe and the U.S., making it the worst-hit country globally. The North American cold chain market was affected positively to a significant extent by the pandemic. On the supply side, the production of pharmaceutical drugs and supply of raw materials for clinical trials of vaccines increased owing to the significant increase in the total number of active cases worldwide in Q2 and Q3 of 2020.

Initially, the stringent lockdown and social distancing regulations imposed by the local and federal governments disrupted the overall supply chain logistics industry and led to a temporary shutdown of several manufacturing facilities across the region. However, the supply of essential products such as food & beverages and pharmaceutical products was allowed while adhering to stringent norms such as social distancing and a limited workforce in the supply chain process. These stringent norms for supply chain logistics led to increased overall logistics costs in the region.

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North America Cold Chain Market Report Highlights

• The regional market’s growth is majorly driven by the rising demand for quality foods, increasing IT spending in cold storage logistics, and growing investment in developing cold chains

• The storage type segment held the largest share in 2022. Cold storage facilities are facilities used to store perishable items, such as fish, meat, dairy products, and fruits & vegetables, in a humid environment at optimal temperatures, primarily low temperatures, depending upon the item being stored. Cold storage systems may include warehouses, refrigerated containers, and blast chillers & freezers

• The product segment accounted for the largest revenue share (67.8%) in 2022. Cold chain packaging products include crates, cold packs, insulated containers & boxes, temperature-controlled pallet shippers, and labels. Some factors considered while choosing a cold chain packaging product include cost-efficiency and the material of the packaging product. Renewable material is widely preferred owing to growing environmental awareness

• U.S. dominated the regional market with a revenue share of 71.1% in 2022. The growth is driven by various factors, including changing consumer preferences, increasing demand for fresh and frozen foods, and the growth of e-commerce. One of the major growth drivers is the increasing demand for fresh and frozen foods

North America Cold Chain Market Segmentation

Grand View Research has segmented the North America cold chain market based on type, packaging, equipment, application, and country:

North America Cold Chain Type Outlook (Revenue, USD Million, 2017 - 2030)

• Storage

  • Warehouses

    • On-grid

    • Off-grid

  • Reefer Container

• Transportation

  • Road

  • Sea

  • Rail

  • Air

• Monitoring Components

  • Hardware

    • Sensors

    • RFID Devices

    • Telematics

    • Networking Devices

  • Software

    • On-premise

    • Cloud-based

North America Cold Chain Packaging Outlook (Revenue, USD Million, 2017 - 2030)

• Product

  • Crates

    • Dairy

    • Pharmaceuticals

    • Fishery

    • Horticulture

  • Insulated Containers & Boxes

    • By 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)

    • By Type

      • Cold Chain Bags/Vaccine Bags

      • Corrugated Boxes

      • Others

  • Cold Packs

  • Labels

  • Temperature-controlled Pallet Shippers

• Materials

  • Insulating Materials

    • EPS

    • PUR

    • VIP

    • Cryogenic Tanks

    • Others

  • Refrigerants

    • Fluorocarbons

    • Inorganics

      • Ammonia

      • CO2

    • Hydrocarbon

North America Cold Chain Equipment Outlook (Revenue, USD Million, 2017 - 2030)

• Storage Equipment

• Transportation Equipment

North America Cold Chain Application Outlook (Revenue, USD Million, 2017 - 2030)

• Fruits & Vegetables

• Fruits Pulp & Concentrates

• Dairy Products

  • Milk

  • Butter

  • Cheese

  • Ice Cream

• Fish, Meat, And Seafood

• Processed Food

• Pharmaceuticals

  • Vaccines

  • Blood Banking

• Bakery & Confectionary

• Others

North America Cold Chain Country Outlook (Revenue, USD Million, 2017 - 2030)

• U.S.

• Canada

• Mexico

List of Key Players in the North America Cold Chain Market

• Americold Logistics, Inc.,

• Burris Logistics

• LINEAGE LOGISTICS HOLDING, LLC

• Wabash National Corporation

• United States Refrigerated Storage

• Tippmann Group

• NFI Industries

• Penske

• Seafrigo Group

• NewCold

• CONESTOGA REFRIGERATED STORAGE

• Sonoc ThermoSafe (Sonoco Products Company)