The global cold chain market will witness tremendous growth in the coming years as the world’s population increases. Food wastage is one of the leading causes of food shortages, and it is estimated that one-third of the world’s food is wasted annually. Besides, the high global population is increasing the demand for food products and the use of cold chains is anticipated to grow in future. Moreover, the use of advanced technology to maintain the quality of food is a significant factor driving the market growth.
The global cold chain pharmaceutical market was valued at USD 13.4 billion in 2015.
New therapies are coming into the limelight and increasing the demand for temperature-controlled transportation facilities. As a result, the cold chain industry is growing at a twice-the-rate of the market for non-temperature-controlled products. As a result, many cold chain players are focusing on leveraging new technologies and constantly upgrading their operations. Some of these technologies include Early Suspension Fast Response sprinklers (ESFR), which have been gaining momentum in the market. Other vendors offering temperature-controlled transportation services include third-party logistics (3PL) operators that provide warehousing and transportation services.
The food industry is focusing on preventing spoilage and decay, and utilizing advanced vehicle and system technologies is essential to maintaining the freshness of food. However, a growing concern is high energy costs. As a result, cold chain providers have been forced to cut back on their annual operating costs and invest in pre-cooling and refrigerated storage and transport, packaging, and information management systems. But while there are significant challenges ahead, it is clear that the market will be competitive in the coming years.
The global cold chain market is expected to grow at a significant CAGR in the coming years. Growth is expected to be driven by the increasing popularity of frozen and cold food products, as well as by technological advances in cold chain storage. Other important factors driving the market include increasing international trade of meat and increasing government initiatives to create cold storage facilities. These developments, in turn, are likely to drive the cold chain logistics market worldwide. And, as with all other industries, government initiatives are key to the future success of the industry.
The report also includes an in-depth analysis of the cold chain logistics industry.
It highlights the potential of the market until 2030. It also includes a detailed analysis of the key players in the cold chain logistics industry, including those that offer solutions for the transportation of food products. Moreover, the report also discusses various types of containers, holding temperature ranges, and other products. A comprehensive analysis of the cold chain logistics market is available in chapter 14.
One of the most challenging aspects of LCA studies is defining the appropriate functional unit and scope. Several studies have attempted to quantify the effects of cold chain technologies on the environment. However, this approach is based on a simplified view of the cold chain, wherein the LCA metric ‘one kg’ represents the lifespan of a refrigeration system. But these studies have not considered the impact on the environment of various components of the cold chain, including transport and storage.