PUBLISHER: The Business Research Company | PRODUCT CODE: 1470312
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470312
Cold chain tracking and monitoring refer to the systematic process of overseeing and managing the temperature-controlled supply chain for perishable goods, particularly those that require specific temperature conditions to maintain their quality and safety. It involves the transportation, storage, and distribution of products, such as pharmaceuticals, vaccines, food items, certain chemicals and others, within a controlled temperature environment.
The cold chain tracking and monitoring market consists of sales by entities (organizations, sole traders and partnerships) of cold chain tracking and monitoring products and services that help ensure the integrity of temperature-sensitive products, particularly during transportation and storage.
The global cold chain tracking and monitoring market was valued at $3,849.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 10.0%.
Regulatory Framework For Poultry Products And Reducing Foodborne Illnesses
The regulatory framework for poultry products and reducing foodborne illnesses drove the growth of the cold chain tracking and monitoring market during the historic period. Specific temperature control measures are mandated by regulatory bodies across the entire supply chain of poultry. Businesses can reduce their legal liabilities and ensure compliance with regulations by using tracking and monitoring technologies that offer auditable data. Regulation bodies frequently set temperature control standards for the storage and transportation of poultry products in order to stop the development of dangerous bacteria. For instance, in November 2022, the US Department of Agriculture's (USDA) Food Safety and Inspection Service (FSIS) published a proposed regulatory framework to reduce foodborne illnesses linked to poultry products and control Salmonella contamination. A comprehensive approach to controlling Salmonella in poultry is supported by the three essential components that make up the proposed framework. The framework tackles issues that are related to data sharing, small and very small establishments and testing for Salmonella. Therefore, the regulatory framework for poultry products and the reduction of foodborne illnesses boosted demand for the cold chain tracking and monitoring market.
Strategic Collaboration To Drive Innovation And Expansion
Major companies in the cold chain tracking and monitoring market are focused on strategic collaboration with major manufacturing companies to strengthen their position in the market. For instance, in October 2023, Boehringer Ingelheim, a Germany-based pharmaceutical company, through its subsidiary Boehringer Ingelheim Animal Health USA Inc., collaborated with Alizent, a France-based digital solutions provider for various industries, to implement an innovative cold chain tracking solution to enhance poultry vaccine supply chain management. The partnership tracks Dewars containing liquid nitrogen and cryogenic samples, such as poultry vaccines, using Alizent's SmartDewar Internet of Things (IoT) platform, thereby leveraging the expanding interconnectedness of the Internet of Things (IoT). It will also provide temperature alerts and keep track of the liquid nitrogen level in containers.
The global cold chain tracking and monitoring market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 13.92% of the total market in 2022.
Cold Chain Tracking And Monitoring Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global cold chain tracking and monitoring market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for cold chain tracking and monitoring? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The cold chain tracking and monitoring market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider cold chain tracking and monitoring market; and compares it with other markets.