PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401382
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401382
Global Food Cold Chain Market is valued at approximately USD 44.71 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.3% over the forecast period 2023-2030. Food cold chain is a temperature-controlled supply chain system that is used to protect perishable food products' quality and safety from the point of production or harvest to the point of consumption. It entails the careful monitoring of temperature and humidity levels at all phases of the food supply chain, including storage, transportation and distribution to ensure that food supplies stay fresh and uncontaminated by rotting or contamination. The market is experiencing a significant surge in demand, driven by the rising consumers' inclination towards high-quality food products. Recent trends indicate a substantial increase in consumer awareness regarding the importance of food safety. Consequently, there is a growing demand for refrigerated food items that offer freshness, as well as ensure safety and adhere to stringent quality standards. This rising consumer demand highlights the crucial role of a reliable cold chain infrastructure, which is essential for preserving the impeccable quality and safety of these products. Also, the globalization of food supply chains, coupled with the increase in foodborne illness awareness are the factors that are stipulating the market demand across the globe.
In addition, the growing investment in food cold chain infrastructure is also one of the major factors accelerating the market growth during the projected years. The popularity of frozen foods and products is growing steadily due to their convenience and extended shelf life. Subsequently, there is a rising global demand for cold storage and refrigerated transportation services. Safely transporting subtle frozen food items such as ice cream, frozen curries, and canned products necessitates the use of reliable temperature-controlled facilities to prevent any physical or environmental damage during transit. For instance, In January 2023, the Ministry of Agriculture and Farmers Welfare unveiled the India Cold Chain Programme in association with the National Centre for Cold Chain Development (NCCD) and the UN Environment Programme, as part of the Cool Coalition initiative. This program has been strategically crafted in collaboration with key partners, including the Alliance for an Energy-Efficient Economy (AEEE), Energy Efficiency Services Limited (EESL), and the Bureau of Energy Efficiency (BEE). Its primary aim is to facilitate the development of policies and encourage the widespread adoption of energy-efficient and environmentally sustainable cold chain practices across India. Thus, rising emphasis in investing in food cold chain infrastructure is propelling the growth of Food Cold Chain Market during the estimated period. Moreover, the rapid developments in cold chain technology, as well as in increase in online food retail and grocery delivery services present various lucrative opportunities over the forecast years. However, the poor infrastructure in developing countries and the high initial investment are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Food Cold Chain Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the imposition of stringent food safety regulations, as well as a surge in online food retail and grocery delivery services. Moreover, there is a growing trend among consumers to shift from highly processed and less healthy foods with extended shelf lives in favor of temperature-sensitive and perishable food items. This shift is driving the demand for an advanced cold supply chain supported by cutting-edge technology, which is exhibiting a positive influence on market growth. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The globalization of Asian food supply chains, growing demand for fresh and perishable food, and governments investment in the development of cold chain infrastructure are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable