Cold Chain Market Size Worth $1,071.13 Billion By 2030

October 2022 | Report Format: Electronic (PDF)

Cold Chain Market Growth & Trends

The global cold chain market is expected to reach USD 1,071.13 billion by 2030, registering a CAGR of 18.6%, according to a new report by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.

Organized retail stores use better refrigeration and improved storage technology than traditional stores. Thus, consumers are increasingly purchasing frozen foods from these retail stores. With the increased demand for chilled and frozen foods and the rapidly expanding organized retail sector, the demand for cold storage solutions is expected to grow over the projected period. Organized retail supports different outlet formats depending on spending power and proximity to major residential and consumption clusters.

The offline mode of organized retailing is categorized into convenience stores, supermarkets, and hypermarkets based on product range and surface coverage. On the other hand, the lack of power hook-ups for reefer trailers at transportation hubs and ports coupled with the lack of reliable power supply for cold warehouses further increases the operating costs.

However, this also offers opportunities for companies to develop unique solutions or leverage alternative energy sources that can overcome these issues in emerging markets. Furthermore, new transportation means, such as versatile refrigerated containers, are being developed to overcome the lack of adequate transportation facilities. These solutions can provide access to international markets and offer opportunities for farmers and small-scale businesses in these regions.

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Cold Chain Market Report Highlights

  • Low carbon design, environmental auditing, and construction of energy-efficient cold storage warehouses are anticipated to fuel the demand for cold storage.

  • Growing supermarket shopping culture and rising consumer preference toward private labels are the key factors for the expansion of food retail chains across the globe. 

  • The cold chain packaging segment is anticipated to register a CAGR of 20.8%. The growth is attributed to the significant changes in the living standards and food consumption behavior of consumers. 

  • The processed food application is anticipated to witness a high CAGR of 20.6% over the projected period.

  • The cold packs segment is anticipated to register a CAGR of 21.0%. The growth is attributed to the significant changes in the living standards and food consumption behavior of consumers.

  • The processed food application is anticipated to witness a high CAGR of 19.1% over the projected period.

  • The primary source markets for cold chain are the U.S., Canada, Germany, China, the U.K., India, France, Japan, and South Korea. The U.S. will be the primary source market for cold chain providers.

  • The market in Japan is becoming increasingly saturated, resulting in cold storage operators in the country seeking avenues to enhance international trade.

  • Key players in the market include Americold Logistics LLC, Agro Merchant Group, Burris Logistics, Inc., Henningsen Cold Storage Company, Lineage Logistics, LLC, Nordic Logistics, Preferred Freezer, Wabash National, Cold Chain Technologies, Inc., Cryopak Industries Inc., Creopack, Cold Box Express, Inc., Intelsius, Nilkamal Limited, Sofrigam, Softbox Systems Ltd., Sonoco ThermoSafe, Valor Industries, and va Q tec AG.

Cold Chain Market Segmentation

Grand View Research has segmented the global cold chain market on the basis of type, packaging, equipment, application, and region.

Cold Chain Market Type Outlook (Revenue, USD Million; 2017 - 2030)

  • Storage

    • Warehouses

      • On-grid

      • Off-grid

    • Reefer Containers

  • Transportation

    • Road

    • Sea

    • Rail

    • Air

  • Monitoring Components

    • Hardware

      • Sensors

      • RFID Devices

      • Telematics

      • Networking Devices

    • Software

      • On-premise

      • Cloud-based

Cold Chain Market Packaging Outlook (Revenue, USD Million; 2017 - 2030)

  • Product

    • Crates

      • Dairy

      • Pharmaceuticals

      • Fishery

      • Horticulture

    • 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)

      • 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 (Insulating Pouches, Hard Cased Thermal Boxes, and Active Thermal Systems)

      • Refrigerants

        • Fluorocarbons

          • Inorganics

          • Ammonia

        • CO2

        • Hydrocarbons

Cold Chain Market Equipment Outlook (Revenue, USD Million; 2017 - 2030)

  • Storage Equipment

    • On-grid

      • Walk-in Coolers

      • Walk-in Freezers

      • Ice-lined Refrigerators

      • Deep Freezers

    • Off-grid

      • Solar Chillers

      • Milk Coolers

      • Solar-powered Cold Boxes

      • Others (Solar Refrigerators and Products related to Solar Panels)

    • Transportation Equipment

Cold Chain Market Application Outlook (Revenue, USD Million; 2017 - 2030)

  • Fruits & Vegetables

  • Fruit Pulp & Concentrates

  • Dairy Products

    • Milk

    • Butter

    • Cheese

    • Ice cream

  • Fish, Meat, and Seafood

  • Processed Food

  • Pharmaceuticals

    • Vaccines

    • Blood Banking

  • Bakery & Confectionary

  • Others (Ready-to-Cook, Poultry)

Cold Chain Market Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia-Pacific

    • China

    • India

    • Japan

    • Singapore

    • South Korea

  • South America

    • Brazil

  • Middle East

    • UAE

    • Saudi Arabia

    • Israel

  • Africa

    • South Africa

    • Nigeria

    • Egypt

    • Kenya

List of Key Players in Cold Chain Market

  • Agro Merchant Group (U.S.)

  • Nordic Logistics and Warehousing, LLC (U.S.)

  • Preferred Freezer Services, LLC (U.S.)

  • Cold Chain Technologies, Inc. (U.S.)

  • Cryopack Industries, Inc. (U.S.)

  • Creopack (Canada)

  • Cold Box Express, Inc. (U.S.)

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