Cold chain market is an uninterrupted series of temperature controlled supply chain. Cold chain includes refrigerated technology with temperature and humidity control throughout for perishable commodities such as milk, bakery & confectionery, dairy products, beverages, fresh fruits & vegetables, ice cream, frozen dairy products, and processed meat, fish & seafood. Global demand for cold chain market was valued at USD 110.20 billion in 2014 is expected to reach USD 271.9 billion in 2020 and is anticipated to grow at a CAGR of 13.9% between 2015 and 2020. In terms of volume, the global cold chain market stood at 552.09 million cubic meters in 2014.
Advancement in the healthcare sector has rapidly expanded in the last decade and the trend is expected to continue within the forecast period, in turn driving the market for cold chain over the years. Increased demand for frozen and chilled food & beverages owing to the changing lifestyle of the people is expected to augment the demand for cold chain in the market. Increasing population has resulted into growing demand for both food and pharmaceuticals. This in turn is expected to fuel the growth of the cold chain market in near future.
Key players involved globally in cold chain market include AmeriCold Logistics, Lineage Logistics, Preferred Freezer Services, and Swire Cold Storage. The other prominent players includes A.B. Oxford Cold Storage, Burris Logistics, Bring Frigoscandia, Claus Sorensen and others.
Company: Market Research Store