Westford, USA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, cold chain logistics is, a critical component of the supply chain, and encompasses vital elements such as temperature-controlled warehouses for storing sensitive products and specialized cold-insulated delivery vehicles. The increasing focus on maintaining product integrity within specific temperature ranges has led to the proliferation of innovative solutions in this domain in the global cold chain logistics market.
Browse in-depth TOC on the "Cold Chain Logistics Market”
- Pages - 157
- Tables – 65
- Figures – 77
There is a growing heightened awareness and understanding of factors such as pricing, eco-friendliness, health considerations, and sourcing products locally in the global cold chain logistics market. This paradigm shift in consumer preferences underscores the need for businesses to adapt and offer products that align with these new priorities.
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Prominent Players in Global Cold Chain Logistics Market
- Nichirei Corporation
- Swire Group
- Burris Logistics
- United Parcel Service, Inc.
- DHL International GmbH
- FedEx Corporation
- AGRO Merchants Group
- Kloosterboer
- Americold Realty Trust
- XPO Logistics, Inc.
- Preferred Freezer Services, LLC
- VersaCold Logistics Services
- MSC Mediterranean Shipping Company S.A.
- C.H. Robinson Worldwide, Inc.
- NewCold Advanced Cold Logistics
- SSI SCHAEFER
- Interstate Cold Storage, Inc.
- Kloosterboer Group
- Henningsen Cold Storage Co.
- Agro Merchants Group, LLC
Reefers Segment to Dominate Market due to Rise in Increased Demand for Fresh and Frozen Products
Reefers segment stands as the dominant force in the global cold chain logistics market, boasting the largest market share. This segment is anticipated to continue its remarkable growth trajectory, with a projected compound annual growth rate of 16.20% during the forecast period in 2022.
The market in North America has firmly established itself as the leading player in the global cold chain logistics market, boasting the largest market share. The region is set to maintain its position of prominence with an anticipated compound annual growth rate of 15.56% during the forecast period in 2022.
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Food and Beverage Segment to Witness Significant Growth due to Better Transportation and Storage Services for vVarious Food Items
Food and beverage segment is poised for rapid and robust development, emerging as one of the fastest-growing sectors within the global cold chain logistics market. This accelerated growth can be attributed to the rising demand for temperature-controlled transportation and storage services for various food items.
In 2022, Europe is poised for substantial growth in the global cold chain logistics market, with a projected compound annual growth rate of 15.11% during the forecast period. The region maintains a significant share of revenue within the global market, driven by key factors. The primary driver is the changing consumer behavior, with a growing preference for fresh and temperature-sensitive products, which necessitates robust cold chain solutions.
A comprehensive analysis of the major players in the global cold chain logistics market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Global Cold Chain Logistics Market
- In 2023, UPS made a strategic move in cold chain logistics by acquiring a majority stake in Inovatec, a prominent company specializing in temperature-controlled logistics. This acquisition provides UPS with valuable access to Inovatec's extensive network of refrigerated warehouses strategically positioned in critical regions across Europe and Asia. This strategic partnership equips UPS with enhanced capabilities to efficiently store and transport temperature-sensitive goods, further bolstering its global cold chain logistics market presence.
- In 2023, FedEx took significant steps to reinforce its presence in the cold chain logistics sector by unveiling a state-of-the-art facility in Memphis, Tennessee. This newly established cold chain logistics facility is custom-designed to cater to the specific requirements of temperature-sensitive shipments, including food and pharmaceuticals.
Key Questions Answered in the Global Cold Chain Logistics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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