Market Size of Latin America Cold Chain Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.33 Billion |
| Market Size (2029) | USD 9.23 Billion |
| CAGR (2024 - 2029) | 11.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Cold Chain Logistics Market Analysis
The Latin America Cold Chain Logistics Market size is estimated at USD 5.33 billion in 2024, and is expected to reach USD 9.23 billion by 2029, growing at a CAGR of 11.60% during the forecast period (2024-2029).
The characteristics and reality of the Latin American market are highly varied. As a result, businesses from all industries operating in this region must adjust to these conditions to continue doing business. LATAM does not precisely exclude chilled cargo from this obligation due to the difficulties traversing long land expanses between production and marketing hubs. It is crucial to preserve the freshness and quality of the food, medications, and other supplies that must be stored and transported under these conditions by keeping the cold chain at the proper temperatures.
The COVID-19 pandemic initially harmed the cold chain market in Latin America. Still, as the pandemic progressed and more perishable goods were traded internationally, technology advancements in refrigerated transport and storage, government support for infrastructure development, and a surge in MNCs' expansion of food chains, the market for cold chain logistics in LATAM began to grow.
Latin America's perishable food supply chain is still robust, with food traveling to retail establishments. In addition, it is stated that warehouses are operating at total capacity and that a workforce shortage is a problem. These considerations are encouraging the already-established regional players to consolidate and develop technologically to address the region's shortage of refrigerated space.
For instance, in October 2022, Agro-industrial and logistics firm Frigorifico Modelo (Frimosa), based in Montevideo, Uruguay, announced that its cold storage operations would be acquired by Emergent Cold Latin America (Emergent Cold LatAm or the Company), a provider of refrigerated storage and logistics services in Latin America. The main building of Frimosa in Polo Oeste, which includes a warehouse with 22,000 cold storage pallets, a separate bonded warehouse, and a sizable amount of ground for expansion, will be purchased by Emergent Cold LatAm. Additionally, in Asunción, Paraguay, Emergent Cold LatAm will purchase a brand-new 8,400-pallet warehouse.
