Market Size of Food Cold Chain Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.79 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Food Cold Chain Market Analysis
The food cold chain market is projected to register a CAGR of 8.79% over the next five years.
- The perishability of food is a mounting concern, from the procurement of raw materials to the showcasing of end products on retail shelves. With changes in ambient temperature resulting from climate change, cold chain infrastructure has become more vulnerable, and resilient cold chain solutions are increasingly necessary.
- The United Nations Environment Programme (UNEP) and WRAP released the Food Waste Index Report 2021 and highlighted that The household food waste estimate in the United States is 59 kg per capita per year, or 19,359,951 tonnes a year. This highlights the importance of finding ways to prevent food wastage. Cold chains can increase the shelf life of perishable products by providing controlled temperature, humidity, and atmospheric conditions. For instance, refrigeration can increase the shelf life of fresh fruits and vegetables by days or even months.
- In the current scenario, agencies linked with export promotion and trade policies are focusing on developing international cold chain processes through improved regulatory environments, increased workforce skills, and infrastructure investment. This promotes the benefits of a country or company's services and creates a favorable environment for the food cold chain market.
- Market players are inventing new technologies for transport and cold chain storage and forming mergers and acquisitions to create innovative approaches toward cold chain storage and transportation. For example, in August 2022, Lineage Logistics acquired VersaCold Logistics to expand its services in Canada and regulate the food supply chain across the country.
Food Cold Chain Industry Segmentation
The food cold chain is the facility provided for the storage and transportation of frozen food products.
The food cold chain market is segmented by type, application, and geography. By type, the market is segmented into cold chain storage and cold chain transport. By application, the market is segmented into fruits and vegetables, meat and seafood, dairy and frozen dessert, bakery and confectionery, ready-to-eat meals, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
For each segment, the market sizing and forecast have been done based on the value (in USD million).
| Type | |
| Cold Chain Storage | |
| Cold Chain Transport |
| Application | |
| Fruits and Vegetables | |
| Meat and Seafood | |
| Dairy and Frozen Dessert | |
| Bakery and Confectionery | |
| Ready-to-Eat Meal | |
| Other Applications |
| Geography | ||||||||
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Food Cold Chain Market Size Summary
The food cold chain market is experiencing significant growth, driven by the increasing need to preserve the quality and extend the shelf life of perishable goods. As climate change impacts ambient temperatures, the vulnerability of cold chain infrastructure has heightened, necessitating resilient solutions. The market is bolstered by initiatives from export promotion agencies and trade policies that focus on enhancing international cold chain processes through regulatory improvements, skill development, and infrastructure investments. This creates a favorable environment for the market, as companies innovate in transport and storage technologies, and engage in mergers and acquisitions to enhance their service offerings. The rising demand for frozen foods, due to their convenience and longer storage capabilities, further propels the need for advanced cold storage and transport facilities globally.
In North America, the demand for food cold chains is driven by seasonality, temperature variations, and the increasing consumer preference for temperature-sensitive and perishable foods. The region faces significant food wastage challenges, prompting market players to expand cold storage capacities and launch new transport facilities. The market is highly fragmented, with both global and regional players like Americold Logistics, Lineage Logistics, and Nichirei Corporation leading the industry. These companies are leveraging expansion, mergers, and acquisitions to strengthen their market presence and tap into regions with high export potential and growing domestic demand for frozen foods. Innovations such as smart last-mile delivery platforms and advanced refrigeration capabilities in transport vehicles are also contributing to the market's growth and efficiency.
Food Cold Chain Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Cold Chain Storage
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2.1.2 Cold Chain Transport
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2.2 Application
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2.2.1 Fruits and Vegetables
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2.2.2 Meat and Seafood
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2.2.3 Dairy and Frozen Dessert
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2.2.4 Bakery and Confectionery
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2.2.5 Ready-to-Eat Meal
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Food Cold Chain Market Size FAQs
What is the current Food Cold Chain Market size?
The Food Cold Chain Market is projected to register a CAGR of 8.79% during the forecast period (2024-2029)
Who are the key players in Food Cold Chain Market?
Americold Logistics, Lineage Logistics (Preferred Freezer Services), Nichirei Corporation, Kloosterboer Group B.V. and VersaCold Logistics Services are the major companies operating in the Food Cold Chain Market.
