Cold chain Solutions
Report says market is driven by better technology and rising requires for frozen food and pharmaceuticals. The global cold chain market is on the right track to reach $426.2 billion in revenue by 2022 due to rising requires for frozen food, growth in the pharmaceutical sector, and greater investment in temperature control infrastructure and technology, a report released says. Revenues of that size would mark a compound annual growth rate of 13.9 percent from the sector's revenues of $110.20 billion in the year 2014, in accordance with the Beijing based market research company QY Research Groups. Refrigerated distribution and storage activities are usually used for handling products like frozen food, chemicals, sea food, fresh agriculture products like vegetables and fruits, photographic films, pharmaceutical drugs, along with other perishable items.
The highest revenue gain in that group for 2015 was in the frozen meat and sea food sector, which now accounts for 35 percent of the total cold chain logistics market, in accordance with the report, Global Cold Chain Monitoring Sales Market Report 2017. But growth in a number of other sectors is also help to drive further expansion, like increasing consciousness about healthful nutrition that's boosting demand for dairy products. Other sectors that foresee a strong growth include bakery products and the pharmaceuticals and drugs sector, the report found. Despite that rising demand, growth of the cold chain industry might be limited by precise requirements for low variation in desired temperature ranges and by the high cost of cold chain system equipment installation, QY Research found.
Shippers demand precise environmental parameters in cold chain logistics solution because variations in moisture, oxygen, or CO2 can rapidly harm fresh and perishable products, the report said. For instance, different products require their very own target temperatures to assure their quality through the transport chain, like bananas, pharmaceuticals, chilled items, frozen products, and deep frozen items. In accordance with the report, major players within the global cold chain logistics market include: Crystal Logistic Cool Chain Ltd., SSI Schaefer Systems International, Inc., DHL International GmbH, Lineage Logistics Holdings Limited liability company, Americold Logistics, Kloosterboer, AIT Worldwide Logistics Inc., Partner Logistics, X2 Group, Preferred Freezer Services, Nichirei Logistics Group Inc., Burris Logistics, BioStorage Technologies Inc., Best Cold Chain Co.
Ltd., Agro Merchants Group Limited liability company, CWT Ltd., Gruppo Marconi Logistica Integrata, JWD Group, NewColdCooperatief U.A., and OOCL Logistics.