Refrigerated Transport Market is Projected to Grow at A CAGR of 15.2%

Date: 2015-08-17

The refrigerated transport market is projected to grow at a CAGR of 15.2% from 2014 to 2019, and poised to exhibit a strong growth in the next five years.

Globalization and its associated growth in international trade of perishables have led to the development of several new markets for the import and export of temperature-sensitive goods such as vegetables, fruits, dairy, meat, fish, and seafood products. These food items need to be placed in specific conditions to prevent them from spoilage, so that their quality is maintained, with prolong shelf life, and can be delivered to the end consumers in the best possible quality. Not all food items require the same temperature; therefore, they are pre-cooled at a desired temperature and can thus be classified on this basis into two broad categories: chilled and frozen food products.

The refrigerated transport in cold chain involves the transportation of temperature-sensitive products through various stages of the supply chain through thermal and refrigerated packaging methods and logistical planning to protect the integrity of these shipments. There are several modes of transporting perishables such as by road, rail, sea, and air.

The refrigerated transport market is continually evolving to meet the demands of food manufacturers and distributors. More advanced refrigerated equipment, storage, software and technology tools are being developed and designed to continually monitor the temperature and other conditions, making it possible to support a global supply chain for perishable foods.

North America contributed the most to the inter-trading of perishable foods, hence garnering the largest market share, followed by Europe and Asia-Pacific. The refrigerated transport market is matured in North America and Europe. China and India are the fastest-growing markets in the Asia-Pacific region.

Both, bottom-up and top-down approaches were used to derive the size of the cold chain market. The market segments include types of products, applications, modes, and region.

Key service providers such as Toll Holdings Limited (Australia), DHL Line-Deutsche Post AG (Germany), A.P. Moller-Maersk A/S (Denmark), FedEx Corporation (U.S.), Ryder System, Inc. (U.S.), Samskip Holding B.V.(The Netherlands), AmeriCold Logistics, LLC (U.S), and Saddle Creek Logistics Services (U.S.) have been profiled in the report. The market dynamics鈥攊n terms of market drivers, restraints, opportunities, and challenges鈥攈ave been discussed in detail in the report.


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