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Cold Chain Logistics market is Expected to Reach $782.27 Billion by 2030-Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, October 4, 2023 /EINPresswire / -- The cold chain logistics industry is an ever-evolving sector that is vital for the safe and efficient delivery of temperature-sensitive goods. From perishable food items to Pharmaceutical drugs and chemicals, preserving the right temperature during the whole supply chain is vital for keeping the quality and purity of those products.
Furthermore, the increase in vaccine development, complexity of proteins, transportation of hormone therapies, and complex biological medicines require cold chain infrastructure. Pharmaceutical products require temperature-controlled transportation, which can be achieved through cold chain solutions. In addition, the strict adherence in the pharmaceutical sector regarding the maintenance of product quality has positively impacted the adoption of cold chain solutions.
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As per the new report published by Allied Market Research, the global cold chain logistics market is anticipated to grow at a notable CAGR during the forecast timeframe. The growth of the market is attributed to advancements in technology, expansion of global trade, and increased consumer demand for fresh and high-quality products. This has resulted in the development of innovative solutions which include climate-controlled warehouses, refrigerated transportation, and advanced tracking systems.
The rise in consumer demand for perishable goods boosts the cold chain logistics industry:
The prevalence of online shopping for perishable items has opened new avenues of opportunity and disputes. These include the need for automated warehouses for inventory management, as well as innovative solutions for last-mile shipping. This also leads to an increase in the need for advanced temperature detectors to keep the quality of food products and increase their shelf life. Nowadays, consumers have grown to be increasingly more aware of the importance of health and wellness, as well as the impact that dietary proteins may have on physical and mental health. This has brought about a shift in the manner of the intake of perishable goods, such as veggies, fruits, dairy food products, eggs, fish, meat, and seafood.
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Recent developments:
Some players such as Burris Logistics, Americold Logistics LLC, United States Cold Storage, and Conestoga Cold Storage are investing in expanding facilities, innovating new processing technologies, and partnerships to strengthen their position in the Cold Chain Logistics Market . For example, Lineage Logistics acquired Spanish transport and cold-storage logistics providers Grupo Fuentes in September 2022. This acquisition expands Lineage's presence in Europe's main fresh produce markets in Spain. This acquisition will further strengthen Lineage's cold storage warehouse presence in Europe.
On the other hand, In June 2022, Americold Logistics released the opening of its new facility in Dunkirk, New York. This new facility has more than 181,000 sq. ft. of cold storage and operational space, as well as 25,000 pallet positions to meet cold storage needs in western New York. The Dunkirk facility will be the next step in the growth of Americold Logistics across the United States.
Furthermore, A.P. Maersk declared the inauguration of a new production facility in Norway in December 2022, which was customized to meet the requirements of the huge Norwegian seafood sector. This facility will provide customers with a comprehensive supply chain solution for the transportation of frozen and chilled products.
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In addition, Frigologix, a market leader in controlled temperature storage, was purchased by Stockhabo in June 2021. As a result of the acquisition, three new sites were added to the Stockhabo network in Belgium: Herk-de-Stad, Lommel, and another in France: Val-de-Meuse. With this acquisition, the total capacity of Stockhabo increased to 235,000 pallet positions with a potential increase in cash flow and profits.
To sum up, the cold chain logistics industry is a fast-growing market driven by technological innovation and evolving consumer needs. As more industries recognize the value of temperature management in maintaining product performance and safety, there will be more innovation and improvements in the market.
David Correa
Allied Market Research
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