Cold Chain Market by Type (Refrigerated Storage and Transport), Application - Forecast to 2023
                     MarketsandMarkets 
Presents
                     Cold Chain Market is Expected to Reach 293.27 Billion USD by 2023
 
 
 
The report "Cold Chain Market by Type (Refrigerated Storage and Transport), 
Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts; 
Meat, Fish, and Seafood, Fruits & Vegetables, Bakery & Confectionery), and 
Region - Global Forecast to 2023", The global cold chain market is estimated to 
account for USD 203.14 Billion in 2018 and is projected to reach USD 293.27 Billion by 
2023, at a CAGR of 7.6%. The global cold chain market is expanding with considerable 
growth potential for over the next five years. The growth of this market can be attributed 
to the growth of international trade of perishable foods, technological advancements in 
refrigerated storage & transport, government support for the infrastructural development 
of the cold chain industry and increase in consumer demand for perishable foods. Also, 
expansion of food retail chains by multinationals will enhance international trade and 
impact the growth of the cold chain market.
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Asia Pacific to be the largest market for refrigerated storage during the 
forecast period
The two main types of cold chain infrastructure are refrigerated transport and 
refrigerated storage. The refrigerated storage market is estimated to be dominated 
by the Asia Pacific region. Refrigerated storage capacities are growing in the Asia 
Pacific due to the increased need for reducing wastage of perishable foods. In North 
America and Europe, the refrigerated transport industry is booming, mainly due to 
the advancement of technology in refrigerated trucks, vans, trailers, and maritime 
reefer containers.
Market Ecosystem
The various contributors involved in the value chain of food cold chain include raw 
material suppliers, manufacturers, cold chain service providers, 
wholesalers/distributors, retailers, and end users. The type of cold chain service to 
be used depends on the type of the food product, its shelf life, storage, and 
movement of food products by various modes of transport such air, water, rail, and 
road. The market is dominated by key players such as Americold Logistics (US), 
Preferred Freezer (US), Burris Logistics (US), Lineage Logistics (US), and Nichirei 
Logistics (Japan). Other players include AGRO Merchants (US), Kloosterboer 
(Netherlands), Swire Cold Storage (Australia), VersaCold Logistics (Canada), and 
Interstate Warehousing (US).
The European region is estimated to account for the largest share, in terms of value, in 
the global cold chain market, in 2018. There is a steady increase in demand, particularly 
for cold chain due to a continuous increase in domestic consumption of high quality of 
perishable commodities. Asia Pacific indicates significant growth potential for the cold 
chain industry due to the increase in awareness about the prevention of food wastage 
before consumption, growth of the organized retail sector, rise in consumer demand for 
perishable foods, and government support & initiatives in this sector. The region is 
projected to surpass the size of the European market by 2023.
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