Globally, the demand for refrigerated food has increased considerably. Changing lifestyle, increasing corporate culture, and high demand for convenient products are the factors driving demand in the global cold chain market. Globalization is one of the major reason behind the growth of cold chain to ensure better safety and prompt transportation of perishable products along with foods and temperature-sensitive pharmaceutical products, medical devices, and chemicals.The demand in the refrigerated transportation (or reefer freight) industry increased at a significant rate in past couple of years. Moreover, investments in the cold chain market skyrocketed specifically after slowdown in 2008.These factors have also boosted growth in the global cold chain market.
As food loss has increased on a massive scale across the globe, it is now taken as an environmental, economic, and social issue. Globally, approximately 3/4 of food grown for human consumption do notreaches the consumer. This has an adverse human health implications and adverse climatic effect, but the yearly economic value of this loss is nearly about a trillion dollars. Availability of cold chains ismissingacross the globe due to whichalmost 200 million tons of food spoils before it reaches the market each year.Thus with growing innovation and transportation of perishable goods between countries, it is highly important to strengthen the cold chain temperature-controlled transportation and logistics that helps in keeping perishables in their optimal state during the entire supply chain.
Several players offering cold chain solutions are coming up with newer ideas and expanding their geographical presence by collaborating with local and regional players. For example, in 2017 Logistyka ("PTSL") (Poland Services Transport) was acquired by AGRO Merchants (US). The idea behind this acquisition was to increase geographical reach of AGRO and improved its service offerings across Europe. It will also help the company to enter into new markets.
Cold chain involves proper logistic planning of temperature sensitive products through thermal and refrigerated packaging methods. The application of cold chain is mainly applied to chilled and frozen foods to increase their self-life and maintain quality standard for long duration of time. Cold chain specifically helps in maintaining the bio-chemical and physical properties of the frozen foods and regulating market price in off-season. It also helps to prevent the product from loss and reduce the waste, which ultimately increases the overall income of manufacturer or producer.
After economic slowdown in 2010, many big players increased the investment on frozen food industry, which leads to directly impacted overall cold chain market. Use of cold chain involves in many industries such as fruits & vegetables, bakery, confectionery, dairy, frozen desserts, fish, meat and seafood. In order to maintain these food fresh for long run, there need a proper cold chain logistics system. This leads to helps in the growth of cold chain market across the globe.
The global cold chain market is growing with a high potential. North America is the largest market for cold chain. The growth in demand of frozen chilled and frozen foods in western counties triggered the cold chain market in North America. Increasing demand of daily products, vegetables and fruits heading towards more export form one reason to another. This has also led to boost the cold chain market. Various initiatives taken by the government affect the cold chain market in Asia Pacific region. Indian government has decided to open mega food parks, which require temperature controlled vehicles and temperature-controlled warehouses. Government also allowed 100% FDI in cold chain industry. This leads boost to cold chain market in Asia Pacific. . In Europe, Germany is one of the largest markets due to the increased consumption of frozen foods.
Major companies operating in global frozen bakery market include, Americold Logistics, Burris Logistics, Cloverleaf Cold Storage, Conestoga Cold Storage, Congebec Inc., Dev Bhumi Cold Chain Limited, Fresh And Healthy Enterprises Ltd, Gati Kwe Ltd, Hanson Logistics, Henningsen Cold Storage Co, Interstate Cold Storage Inc., Snowman Logistics Ltd and Trenton Cold Storage Inc.
Key points covered in the report
The report covers geographic segmentation