Growth, Trends and Market Potential of Cold Chain Logistics
The name cold chain denotes the series of actions and equipment required to maintain a project within a specific low-temperature range from harvest to consumption. The cold chain is a combination of transport and supply chain of the temperature-controlled surface. It means the freezing solutions are planned to maintain the quality and shelf life of products like fresh agricultural produce, seafood, frozen food, chemicals, and pharmaceutical drugs. Cold chain logistics are important for many reasons such as avoiding overcapacity, for a long period of marketing, and fewer transport bottlenecks in the peak period and also for the maintenance of product quality. The process includes the utilization of a temperature-controlled warehouse for storage and cold insulated transport vehicles for product distributions. Cold chain logistics solutions are widely used to transport and store fruits, vegetables, drugs, etc.
Related Project’s:- Cold storage, Controlled Atmosphere Storage, Multipurpose, Multi-commodity Cold Storage, Food, Vegetables & Fruits Storage
Demand from Top Industries
· Increased Demand In Refrigerated Warehouse
A lot of warehouses that comprise cold chain systems are designed by ensuring the ideal storage and transportation conditions for temperature-sensitive products. Some businesses invest millions of dollars in their cold chain operations for an effective, efficient, and reliable process because end-to-end cold chain security is the weak link in the system. Breakdown in the logistics chain can have a catastrophic loss of products and capital. Additionally, there is a rise in demand for cold storage by the online grocers. Hence, an increase in the refrigerated warehouse is expected to boost the growth of the cold chain in the logistics market.
· Growth in the Pharmaceutical Sector
Pharmaceutical manufacturers are mostly focused on quality and product sensitivity. The increase in the development of more complex biological-based medicines, shipments of hormone treatments, vaccines, and complex protein that needs cold chain refinements to need to transport in a controlled temperature that can be achieved by cold chain logistics. The whole cold chain supply and logistics for the pharmaceutical industry are becoming more strategic and reliable. From the year 2011 to 2017, the heat-sensitive healthcare products have increased by 45% and a majority of healthcare products are shipped in the cold chain. High-value pharmaceuticals are expected to drive the cold chain logistics market size.
· Demand from Food Industry
The high demand for perishable food items, growth of international trade owing to trade liberalization, the government efforts to decrease food waste, and the development of the organized food retail industry are the major factors that are driving the cold logistics market growth. Also, an increase in the number of the refrigerated warehouse, and the processed food sector are expected to give a push to the cold chain logistics market in the upcoming years.
Related Projects:- Cold Chain, Temperature Controlled Supply Chain Projects
Cold Chain Logistics Market Outlook
Globally the cold chain logistics market size was recorded at $159,988.1 million in the year 2018 and is expected to reach $585,105.6 million by the year 2026, recording a CAGR of 17.9 % from 2019 to the year 2026. The Asia Pacific accounted for the largest share in the year 2019 and is expected to lead throughout the forecasted period. Asia-Pacific region had shown significant growth in the potential for the cold chain industry and is expected to exceed the European regional market because of the increasing awareness about the prevention of food wastage before consumption, increase in demand for perishable foods, growing organized retail sector, and the support from government and initiatives in the cold chain logistic sector.
Conclusion
The project report by NPCS on “Market Research Report on Cold Chain Logistics in India (Cold Storage & Reefers) Present Scenario, Future Prospects, Market Potential, Opportunities, Growth Drivers, Industry Size, Analysis & Forecasts up to 2023” contains all the furcates trends, opportunities and industry size, and analysis about the cold chain logistics. The market report is done by thorough research from the experienced researchers of NPCS and all the data has been verified and taken after the cross-validation from the industry players
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