The Global Cold Chain Market is presently worth USD 202.17 billion and is poised to amplify at a CAGR of 14.8% over 2022-2030, thereby amassing a valuation of USD 782.27 billion by end of the assessment timeline.
A network of supply lines with low temperature control is known as a cold chain. Further, an uninterrupted set of chilled production, storage, and distribution activities, along with related hardware and logistics, which uphold quality by maintaining a targeted low-temperature range, is referred to as an unbroken cold chain. The demand for cold chain solutions is rising as organised retail outlets proliferate in emerging economies. Additionally, over the course of the forecast period, sector growth is anticipated to be aided by trade liberalisation, government initiatives to reduce food waste, and the expansion of retail chains by multinational corporations.
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Products such as fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceuticals are among those that employ it to preserve, prolong, and maintain shelf life. These goods are referred to as “”cool cargo”” while they are being transported and used after temporary storage. Unlike other items or merchandise, cold chain goods are perishable and always on their way to their final use or destination, even while temporarily housed in cold stores. As a result, during the entirety of their logistical cycle, they are frequently referred to as “”cargo.””
Additionally, rising government subsidies have given service providers the opportunity to enter these burgeoning markets with creative transportation-related solutions. For products that need to be transported and stored under optimal temperatures, cold chain services are designed. Cold chain operations have seen a considerable increase due to the rising demand for perishable goods and the quick delivery needs connected with the e-commerce-based food and beverage delivery business.
Due to growing consumer awareness, diets that are high in protein are replacing those that are high in carbohydrates in developing economies. Due to a shift in the economy that is being driven by consumers, nations like China are predicted to show a significant growth rate in the upcoming years. The market is projected to rise in developing nations as a result of increasing technological developments in refrigerated transportation and warehouse management.
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