Market Size of Food Cold Chain Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.79 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Food Cold Chain Market Analysis
The food cold chain market is projected to register a CAGR of 8.79% over the next five years.
- The perishability of food is a mounting concern, from the procurement of raw materials to the showcasing of end products on retail shelves. With changes in ambient temperature resulting from climate change, cold chain infrastructure has become more vulnerable, and resilient cold chain solutions are increasingly necessary.
- The United Nations Environment Programme (UNEP) and WRAP released the Food Waste Index Report 2021 and highlighted that The household food waste estimate in the United States is 59 kg per capita per year, or 19,359,951 tonnes a year. This highlights the importance of finding ways to prevent food wastage. Cold chains can increase the shelf life of perishable products by providing controlled temperature, humidity, and atmospheric conditions. For instance, refrigeration can increase the shelf life of fresh fruits and vegetables by days or even months.
- In the current scenario, agencies linked with export promotion and trade policies are focusing on developing international cold chain processes through improved regulatory environments, increased workforce skills, and infrastructure investment. This promotes the benefits of a country or company's services and creates a favorable environment for the food cold chain market.
- Market players are inventing new technologies for transport and cold chain storage and forming mergers and acquisitions to create innovative approaches toward cold chain storage and transportation. For example, in August 2022, Lineage Logistics acquired VersaCold Logistics to expand its services in Canada and regulate the food supply chain across the country.
