growth of processed food industry and pharmaceutical sector, and adoption of automated software drive the growth in the global cold chain logistics market
PORTLAND , OREGON, UNITED STATES, September 28, 2020 /EINPresswire.com/ — The Objective of the “Global Cold Chain Logistics Market” report is to depict the trends and upcoming for the Cold Chain Logistics industry over the forecast years. Cold Chain Logistics Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2026 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
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The surge in refrigerated warehouses, growth of the processed food industry and pharmaceutical sector, and the adoption of automated software drive the growth of the cold chain logistics market. However, high operational costs and lack of standardization hinder the market growth. On the other hand, the implementation of RFID technologies creates new pathways in the industry. The global cold chain logistics market garnered $159.98 billion in 2018 and is estimated to reach $585.10 billion by 2026, growing at a CAGR of 17.9% from 2019 to 2026.
Meat fish & seafood segment to maintain its dominant position by 2026
Based on type, the meat fish & seafood segment accounted for more than one-third of the total market share in 2018 and is expected to maintain its dominant position during the forecast period. This is due to the significant rise in consumption of meat, fish, and seafood every year. However, the dairy & frozen desserts segment would grow at the fastest CAGR of 20.7% from 2019 to 2026, owing to the rise in the retail industry and rapid surge in demand for frozen food.
Asia-Pacific to maintain its leadership position during the forecast period
Based on region, Asia-Pacific held the major market share in 2018, accounting for nearly two-fifths of the total share, and will maintain its leadership position during the forecast period. This is attributed to rising of the pharmaceutical sector in this region. However, LAMEA is estimated to register the fastest CAGR of 22.0% from 2019 to 2026, owing to the growth of the processed food industry in the region.
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Torchbearers of the industry
Key market players analyzed in the research include Lineage Logistics Holdings, LLC, AmeriCold Logistics, LLC, AGRO Merchants Group, LLC, VersaCold Logistics Services, Preferred Freezer Services, Nichirei Logistics Group Inc., Burris Logistics Inc., Congebec Logistics Inc., Tippmann Group, Conestoga Cold Storage, and others.
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Key questions answered in the Cold Chain Logistics Market research report:
1 What is the growth rate of the Cold Chain Logistics Market during the forecast period?
2 What will be the global Cold Chain Logistics Market size from 2019 to 2026?
3 What are the leading manufacturing companies in the Cold Chain Logistics Market?
4 How the major current trends will shape the market in the future?
5 What are the driving factors and opportunities in the Cold Chain Logistics Market?
6 Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
7 Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
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Source: EIN Presswire