Freezing food products has been in practice for ages. It is considered to be the best way when it comes to preserving and expanding the lifespan of the products such as fruits, vegetables, dairy, meat and such other perishable products. Cold chain systems provide uninterrupted supply of temperature with the required controls. This supply helps distribution, transport and storage of these foods across different parts of the world. Rising demand from various geographic regions and growing demand for food are some of the basic driving factors for the global cold chain market. The industry is aiming at impressive investment opportunities across the emerging regions.
Scope of Research – Segmentation in the Market
Researchers segment the global cold chain market on the basis of the types of systems, products stored in these systems and the geographic demand for the systems from different parts of the world. The types of products are sub-segmented into chilled and frozen products. The types include refrigerated transport and refrigerated storage. Basic application segments of the market include fruits and vegetables, meat, seafood and fish, confectionary and bakery, and other products like condiments, sauces, dips and salad dressings. Based on geographic regions, the global market is segmented into North America, Asia Pacific, Europe and the rest of the world.
Drivers and Restraints
According to the researchers, the global cold chain market is driven by rising demand for frozen foods. Increasing international trades for perishable foods and advancing technologies in refrigeration and cold chain systems are also expected to create potential growth opportunities for this industry. Rising demand for perishable foods from the emerging markets like Asia Pacific, Latin America and Middle East and Africa are also expected to create growth prospects for the established players in the market. Lack of infrastructural support and rising costs of maintenance, infrastructure and energy remain the major restraining factors for this market. Researchers are expecting steady rise in demand for the market with growing opportunities across the emerging markets.
As per the latest research reports, the global cold chain market is expected to maintain a steady growth rate of over 15% from 2014 to 2019. At the projected healthy growth rate, the researchers expect this market to become worth $233,476.7 Million by the end of the forecasting period, in 2019. North America is projected to hold the largest share in this market, accounting for over 40% of the global market. Emerging markets on the other hand are poised to witness impressive growth as well.