With 16.3% CAGR, Cold Chain Market Size To Reach $925.6 Billion by 2030

December 09 17:18 2022
With 16.3% CAGR, Cold Chain Market Size To Reach $925.6 Billion by 2030
North America dominated the cold chain industry with a share of more than 35% in 2021, and it will maintain that position over the forecast period.

In 2021, the cold chain market generated $237.8 billion, which is on track to touching a $925.6 billion value by 2030, progressing at a 16.3% CAGR from 2021 to 2030. According to the market research study published by P&S Intelligence. This is credited to the escalating count of organized retail stores in developing countries, surging consumer awareness about food wastage, and growing need for packaged food with a long storage life.

The sensor-based RFID technology is being increasingly included in product packaging in order to track the product’s origin and prevent manipulation or contamination along the supply chain.

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Why Highest-Revenue-Producing Category Is Storage?

The category of storage dominates the industry with a revenue share of over 55%, and it is predicted to maintain its dominance in the years to come. This is because of the surging worldwide preference of consumers for convenience food.

Similarly, the monitoring category also accounts for a significant market share, due to the surging demand for monitoring solutions. The technological advancements and growing demand for guarantees about the effectiveness, safety, and reliability of shipments are also driving the growth of the category.

Packaging Products Contribute Significantly to Market Revenue

The product category had the largest share, of over 73%, in the market. Refrigerated packaging is essential for keeping the food quality consistent, since it helps prevent the biological degradation of the products and guarantees that the food is safe and of a high standard for consumers.

Due to the growing need for recyclable insulated containers in a variety of applications, including the processing of food, fruit, and vegetables, insulated boxes and containers also account for a significant share of the market.

Cold Storage Industry Needs Storage Equipment

With a market share of over 75%, storage equipment is the major contributor to revenue. In many sectors, temperature-controlled storage equipment is essential for maintaining product quality and increasing storage life.

More than 40% of the food is wasted during processing and harvesting, especially in developing countries, according to the FAO. This requires the development of long-term, energy-efficient cold chains, which could increase the availability of food in such countries by around 15%, or more than 250 million tons.

Browse detailed report on Cold Chain Market Size, Growth, Development and Demand Forecast to 2030

In North America, Interest in Cold Chain Solutions Is Growing

North America led the market in 2021 with a share of over 35%, and it will continue to hold its position in the coming years. This is due to the region’s enormous future potential for companies that are willing to invest for the long term.

Furthermore, due to the increasing government investments in the construction of logistics infrastructure and the expanding usage of warehouse management systems, Asia-Pacific is predicted to see the highest CAGR in the future.

Global Cold Chain Market Size Breakdown by Segment

By Type

  • Storage
  • Transportation
  • Monitoring Components

By Packaging

  • Product
  • Materials

By Equipment

  • Storage Equipment
  • Transportation Equipment

By Application

  • Fruits & Vegetables
  • Fruit Pulp & Concentrates
  • Dairy Products
  • Fish, Meat, & Seafood
  • Processed Food
  • Pharmaceuticals
  • Bakery & Confectionary
  • Others

Regional Analysis

  • North America cold chain market
    • By Type
    • By Packaging
    • By Equipment
    • By Application
    • By Country – U.S. and Canada
  • Europe cold chain market
    • By Type
    • By Packaging
    • By Equipment
    • By Application
    • By Country – U.K., Germany, France, Spain, Italy, and Rest of Europe
  • Asia-Pacific cold chain market
    • By Type
    • By Packaging
    • By Equipment
    • By Application
    • By Country – China, India, Japan, South Korea, Australia and Rest of APAC
  • Latin America cold chain market
    • By Type
    • By Packaging
    • By Equipment
    • By Application
    • By Country – Brazil, Mexico and Rest of LATAM
  • Middle East and Africa cold chain market
    • By Type
    • By Packaging
    • By Equipment
    • By Application
    • By Country – Saudi Arabia, South Africa, and Rest of MEA

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