Cold Chain Storage and Logistics Market to Grow with a CAGR of 15.19% through 2029
Rising demand for temperature-sensitive goods, growing prevalence of e-commerce and the need for efficient last-mile delivery of temperature-sensitive goods are likely to drive the Market in the forecast period.
According to
TechSci Research report, “Cold Chain Storage and Logistics Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Cold Chain Storage and Logistics Market is experiencing a surge in
demand in the forecast period. A fundamental driver propelling the global Cold
Chain Storage and Logistics market is the escalating demand for perishable
goods and pharmaceuticals. Evolving consumer preferences, particularly in
developed and emerging economies, emphasize the importance of fresh and frozen
produce, driving the need for a sophisticated cold chain network. As
urbanization continues and lifestyles change, the demand for
temperature-sensitive products rises, spanning from fresh fruits and vegetables
to dairy products and frozen foods. Advancements in healthcare, pharmaceuticals, and biotechnology contribute to
the heightened demand for precise temperature-controlled logistics. The global
distribution of vaccines, biopharmaceuticals, and other temperature-sensitive
medications requires a seamless cold chain infrastructure to ensure the
efficacy and safety of these critical products. The ongoing battle against the
COVID-19 pandemic has underscored the indispensable role of the cold chain in
the storage and distribution of vaccines, emphasizing its pivotal status as a
lifeline in global health crises.
The
Cold Chain Storage and Logistics market responds to this driver by continuously
innovating and expanding its capabilities. Companies invest in cutting-edge
technologies, such as IoT-enabled monitoring systems, and expand their
infrastructure to meet the evolving demands of a market where the safe and
efficient handling of perishable goods and pharmaceuticals is paramount. Another
key driver steering the global Cold Chain Storage and Logistics market is the
rapid progression of technology within the industry. Advancements in
refrigeration systems, temperature monitoring devices, and data analytics have
reshaped the landscape of cold chain logistics, enhancing its efficiency,
reliability, and overall effectiveness. The
integration of Internet of Things (IoT) technologies stands out as a pivotal
development, providing real-time visibility and control over
temperature-sensitive products during transportation and storage. This level of
connectivity allows stakeholders to proactively manage and mitigate risks,
ensuring that goods remain within specified temperature ranges. From sensors in
refrigerated containers to smart tracking systems, technology facilitates a
proactive approach to cold chain management, reducing the likelihood of product
spoilage and ensuring compliance with regulatory standards.
Blockchain
technology is also gaining prominence in the Cold Chain Storage and Logistics
sector. Its ability to provide an immutable and transparent record of
transactions enhances traceability, reduces fraud, and ensures the integrity of
the supply chain. By leveraging blockchain, stakeholders can precisely track
the journey of temperature-sensitive products, instilling confidence in both
regulatory bodies and end consumers. In
response to this technological driver, businesses in the Cold Chain Storage and
Logistics market are actively investing in these innovations. By adopting
state-of-the-art solutions, companies can not only meet the current demands of
the market but also position themselves as industry leaders, prepared to
navigate the future challenges and opportunities presented by the dynamic
intersection of technology and logistics.
Browse over XX Market
data Figures spread through XX Pages and an in-depth TOC on "Global Cold Chain Storage and Logistics Market.”
The Global Cold
Chain Storage and Logistics Market is segmented into type, application and
region.
Based on application,
The Drugs & Pharmaceuticals segment held the largest Market share in 2023.
Pharmaceuticals, including vaccines, biopharmaceuticals, and certain
medications, are highly sensitive to temperature variations. Deviations from
the specified temperature range can compromise the efficacy and safety of these
products. Cold Chain Storage and Logistics ensure that pharmaceuticals are
stored and transported under controlled conditions to maintain their integrity. The global
emphasis on vaccination programs, especially during health crises such as the
COVID-19 pandemic, has heightened the importance of the Cold Chain Storage and
Logistics market. Vaccines often have specific temperature requirements,
ranging from refrigeration to ultra-low temperatures, necessitating specialized
cold chain infrastructure.
Stringent
regulatory standards, including Good Distribution Practice (GDP) and other
pharmaceutical guidelines, mandate precise temperature control throughout the
pharmaceutical supply chain. Compliance with these regulations is crucial for
obtaining regulatory approvals and ensuring the safety and efficacy of
medications. Cold Chain Storage and Logistics provide the controlled
environment needed to meet these regulatory requirements. The
pharmaceutical sector plays a pivotal role in healthcare supply chains. The
timely and secure distribution of medications is essential for patient
well-being. Cold Chain Storage and Logistics enable pharmaceutical companies to
deliver products to healthcare providers, pharmacies, and distribution centers
with the assurance that the products have been maintained under the required
temperature conditions. Advances in
biopharmaceuticals, which include complex and temperature-sensitive products
like monoclonal antibodies and gene therapies, contribute to the growing
importance of Cold Chain Storage and Logistics. These innovative
pharmaceuticals often require specialized handling and storage to preserve
their therapeutic properties.
The
pharmaceutical industry has seen a rise in specialty medications that often
have specific temperature requirements. These drugs are designed for targeted
treatments and personalized medicine, driving the need for advanced cold chain
solutions to ensure their effectiveness. The
globalization of pharmaceutical supply chains, with production and distribution
networks spanning multiple countries, underscores the need for a
well-established cold chain infrastructure. Cold Chain Storage and Logistics
facilitate the seamless movement of pharmaceutical products across borders
while maintaining the required temperature conditions.
Major companies
operating in the Global Cold Chain Storage and Logistics Market are:
- Thai Max Cold Storage Co. Ltd
- Nichirei Corporation
- Americold Reality Trust Inc.
- Nippon Express Co. Ltd
- John Swire & Sons (H.K.) Ltd
- Interstate Cold Storage Inc.
- Agility Holdings Inc.
- Snowman Logistics Ltd.
- JWD InfoLogistics Public Company Limited
- Burris Logistics
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“The Global Cold
Chain Storage and Logistics Market is expected to rise in the upcoming years
and register a significant CAGR during the forecast period. The primary driver of the global Cold
Chain Storage and Logistics market is the increasing demand for
temperature-sensitive goods, including perishable foods and pharmaceuticals. As
consumers worldwide prioritize fresh produce and pharmaceutical advancements,
the need for a reliable and efficient cold chain infrastructure intensifies.
This demand is further fueled by the globalization of supply chains, the growth
of e-commerce, and stringent regulatory requirements for product safety. To
meet these evolving needs, businesses invest in advanced technologies,
temperature-controlled storage, and seamless transportation solutions,
positioning the Cold Chain Storage and Logistics market as a critical enabler
for the safe and optimal delivery of temperature-sensitive products. Therefore,
the Market of Cold Chain Storage and Logistics is expected to boost in the
upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Cold
Chain Storage and Logistics Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2019-2029 Segmented By Type (Cold Chain Storage,
Cold Chain Logistics), By Application (Fruits & Vegetables, Bakery &
Confectionary, Dairy & Frozen Desserts, Meat, Fish, & Sea Food, Drugs
& Pharmaceuticals, Others), By Region, By Competition”,
has evaluated the future growth potential of Global Cold Chain Storage and
Logistics Market and provides statistics & information on Market size,
structure and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Cold Chain Storage and
Logistics Market.
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