- The perishability of food and its wastages has been a mounting concern that starts from the raw material procurement to showcasing end products on the retail shelf. Noticeable changes in ambient temperature resulting from climate changes have an alarming effect on the cold chain infrastructure, thus, the increasing need for resilient cold chain solutions is the need of the hour.
New York, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Food Cold Chain Market - Growth, Trends, and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05989440/?utm_source=GNW
- In the current scenario, agencies linked with export promotion and trade policies have been focusing on the development of international cold chain processes through inputs in improving the regulatory environments, increasing the skill level of workforce, and encouragement of investment in infrastructure, thereby, promoting the benefits of a country or a company services, which has been creating a favorable environment for food cold chain market.
Key Market Trends
Growing Investments in Cold Chain Infrastructure
Globally, being a macro trend, the demand for perishable items are expected to increase. While on the other hand, the demand is driven by a mix in urbanization and more people globally moving into the middle class. This group of population has been demanding more from food and other products that require careful temperature control. Increasing demand of frozen foods and products that require specific handling and temperature tolerances have grown in leaps and bounds. According to the Global Cold Chain Alliance survey, global refrigerated warehouse capacity grew to 600 million cubic meters as of 2016. Much of the development occurred in emerging markets, such as China, where refrigerated warehouse capacity grew 41%, between 2014 and 2016.
North America Holds the Largest Market Share
The seasonality, time-temperature variation, and road accessibility ( year-round) are some factors enhancing the demand for food cold chains in the North American market. Moreover, the consumers in the market shifting from highly processed and unhealthy foods with long shelf lives to temperature-sensitive, perishable food products is creating momentum for a cold supply chain with enhanced technology in the market. Further, the US import of fruit and vegetable is comparatively higher than the export, and according to USDA, the US imports of fresh/frozen fruit totaled USD 15.06 billion, up 8% compared with 2018. The rapid growth in the industry is triggering the logistics company to expand its cold chain network. Moreover, cold warehousing space is rising in the pandemic, as consumer shifts to e-commerce and online grocery purchases have accelerated this trend.
The global food cold chain market provides ample opportunities for start-ups and established players to foray into regions that have high export potential, and for those that have a rapid growing demand for frozen foods in the domestic markets. Major players, such as DSV Panalpina, Americold Logistics, Lineage Logistic Holdings, and Burris Logistics Inc., are active in the industry-specific to the food cold chain market. These players are adopting expansions, mergers, and acquisitions as the preferred strategies to have a stronghold in the global market.
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