Friday, 07 May 2021 07:54 GMT

Food Cold Chain Market Size to Reach USD 526.00 Billion in 2027 | Growing Demand For Perishable Food Items and Expansion of Cold Chain Infrastructure are Key Factors Driving Industry Growth, says Emergen Research

( MENAFN - GlobeNewsWire - Nasdaq V)ancouver, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) -- The global next generation sequencing market size is projected to reach USD 526.00 Billion in 2027 and register a robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Key factors supporting market revenue growth include technological advancements and innovations food cold storage facilities and packaging materials and techniques, and development of more efficient technologies for processing and storage of seafood products. Rising demand for convenience foods such as canned beans, canned tuna and salmon, prepared pesto, prepared hummus, cooked lentils, and washed greens etc., in the recent past, and growing preference for frozen bakery & confectionery products has been driving market growth due to need for more efficient storage facilities in the cold chain. Maintaining quality of frozen bakery & confectionery products as well as other prepared and packaged food products is highly dependent on packaging, storage, and cooling.

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Incorporating and processing temperature-sensible goods with cold chain solutions has become a major part of supply chain management. Increased trade in perishable goods and products is also expected to fuel demand for these solutions over the forecast period. Favorable regulations and agreements are another factor supporting market growth to a significant extent. For example, exports of perishable foods – in a manner that is free of import duties – that opened up opportunities for exporters in the U.S. and Europe following the World Trade Organization and bilateral free trade agreements such as European Union Free Trade agreement and the North America Free Trade Agreement (NAFTA).

Cooling systems are primarily used to extend product shelf life, for maintenance of quality and hygiene of packaged products, and to improve product consistency as part of cold chain solutions. Temperature-controlled warehouses are extremely energy sensitive due to high energy consumption cooling and ventilation system. However, technological advancements and improved design has been resulting in reduced energy consumption. Smart warehouse automation and control systems are vital components in making buildings self-sustainable with net zero electricity. Lower energy consumption greatly decreases running costs and consequently reduces impact on the environmental. An increasing number of cold chain companies are rapidly shifting towards renewable energy resources such as wind and solar power to reduce overall operating costs.

Increasing shift in preference to shop online for groceries and other perishable products has been resulting in rising need for retailers to expand cold storage facilities. The trend has been resulting in deployment of larger cold storage options in order to facilitate better delivery and supply to end-users. Large restaurants and catering companies are also increasingly adopting cold storage facilities due to need for expansion of outlets, driven by rising food demand, which is driving growth of the market.

Cold chain systems play a crucial role in the supply of perishables, food, beverages, chemicals, and healthcare products. Materials also play a major role for storage and transportation of products in refrigerated trailers, insulated containers, connected refrigerated trucks, and others.

Another vital factor is monitoring, and efficient management of cold storage chain vastly depends on software and hardware used for the purpose. Technologies in cold chain has been advancing rapidly, driven by growing need to ensure integrity, efficiency, and safety of shipments. Some hardware components include RFID devices, data loggers, remote temperature sensors, networking devices, and telematics devices.

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Some key findings from the report

  • Connected goods allow companies to establish better consumer ties by differentiating products and offering superior experience than competitors.
  • Modernization of transport and storage facilities, and deployment of smart infrastructure and automation, especially in developed and some developing countries is driving market growth.
  • Availability, visibility, tracking, and monitoring of products along the supply chain has been greatly improved owing to emergence and deployment of technologies such as RFID.
  • Rapidly growing trend of online purchasing of food products and e-commerce channel expansion in countries such as China and India are among some key drivers contributing to rapid revenue growth of the market in Asia Pacific.
  • Some major players in the market include Americold Logistics LLC, Burris Logistics, Inc., Agro Merchant Group, Cloverleaf Cold Storage, Lineage Logistics, LLC, Henningsen Cold Storage Company, Nordic Logistics, Swire Group, Preferred Freezer, and Wabash National, among others.

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For the purpose of this report, Emergen Research has segmented the global market on the basis of type, packaging, application, equipment, and region:

  • Type Outlook (Revenue: USD Billion; 2017-2027)$1
    • Storage
    • Transportation
    • Monitoring components
  • Packaging Outlook (Revenue: USD Billion; 2017-2027)$1$1
    • Product
    • Materials
  • Application Outlook (Revenue: USD Billion; 2017-2027)
    • Fruits & vegetables
    • Fruit pulp & concentrates
    • Dairy products
    • Fish, meat, and seafood
    • Processed food
    • Bakery & confectionery
    • Others
  • Equipment Outlook (Revenue: USD Billion; 2017-2027)
    • Storage equipment
    • Transportation equipment
  • Regional Outlook (Revenue: USD Billion; 2017-2027)
    • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
    • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
    • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
    • Latin America
    • Brazil
    • Rest of LATAM
    • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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