Cold Chain Market Size to grow by USD 441.18 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Cold Chain Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: According to Technavio, the global cold chain market is a segment of the larger global air freight and logistics market, which encompasses the revenue generated by providers of air freight transportation, courier services, and logistics solutions, including package and mail delivery and customs agents. The size of the global air freight and logistics market is determined by Technavio based on the revenue earned by these service providers. The market's scope extends to the tracking of goods in transit until they reach their destination. Key growth drivers for the global air freight and logistics market include the surge in cross-border e-commerce activities, with consumers increasingly purchasing products from outside their countries. - The Cold Chain Market is experiencing significant growth, fueled by the Use of RFID in cold chain logistics. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Use of RFID in cold chain logistics
  • Increasing number of trade corridors
  • Lack of proper logistics and transportation infrastructure in developing countries
  • Fluctuating fuel prices
• Growth Projections

The market size is estimated to grow by USD 441.18 billion, at a CAGR of 18.04% during the forecast period. In the dynamic and intensely competitive global cold chain market, vendors face significant challenges from both emerging players and advanced digital technologies. To expand their market reach and customer base, vendors are increasingly engaging in mergers and acquisitions (M&A) and strategic alliances. The growing demand for cold chain solutions across various industries further fuels this trend. The market's competitiveness is expected to compel established players to boost their presence through such strategic initiatives.

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• Regional Insights

The North American region dominates the global cold chain market, driven by the surge in imports and exports of perishable goods, particularly fruits, vegetables, and meat. The US, a significant contributor to this growth, has seen an increase in dependency on imports for produce such as asparagus and avocados, due to changing consumer preferences and seasonal fluctuations. Moreover, the rise in online grocery sales and the growing trend towards higher protein diets are further fueling the demand for cold chain solutions in the region. In 2021, the US per capita availability of chicken reached 68 kilograms, underscoring the market's potential for continued expansion.

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