Global Cold Chain Market Expected To Reach $ 249.2 Billion By 2021 With A CAGR Of 11.3%

Date: 2017-06-25

A cold chain is a temperature-controlled supply chain. An unbroken cold chain is an uninterrupted series of refrigerated production, storage and distribution activities, along with associated equipment and logistics, which maintain a desired low-temperature range. It is used to preserve and to extend and ensure the shelf life of products, such as fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs.

The global Cold Chain market was estimated at USD$ 145.9 Billion in 2016, and is anticipated to reach USD$ 249.2 Billion by 2021, expanding at a CAGR of 11.3% between 2017 and 2021. During 2016, the refrigerated warehousing market accounted for the major shares and dominated the cold chain market. Factors such as the increasing demand for frozen food, growth in organized retail sector, and the increasing concerns on food wastage, will contribute to the growth of this industry segment in the coming years.

Many service providers offer end-to-end cold chain management services like inventory management, order scheduling, order forecasting, warehousing, and delivery management. Disaster recovery services that enable customers to track consignments and help them communicate with the entire supply chain are also offered by vendors. In addition, some vendors provide training sessions for all the personnel involved in the cold chain logistics. Thus, the increase in the provision of end-to-end integrated services by vendors is another trend that is expected to have an impact on the global cold chain market during the forecast period.

This market research analysis identifies the demand for security of the pharmaceutical supply chain as one of the primary drivers for market growth. The major challenge faced by the logistics companies in the shipment of drugs is the counterfeit issues in the pharmaceutical drugs. To tackle the issue, numerous logistic firms have announced a few tracking solutions and devices to improve the security of the drugs through the transportation.

In terms of geographic regions, the Americas will be the major revenue contributor to the global cold chain market during the forecast period. The high amount of revenue generated in the US owing to its massive population with high disposable income and the increased demand for vegetables and fruits from consumers in this region, will drive market growth in the Americas.
 
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http://www.gosreports.com/global-cold-chain-system-market-research-report-2017/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
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