Cold Chain Market Size Worth $447.50 Billion by 2025 | CAGR

15.0%: Grand View Research, Inc.

SAN FRANCISCO, August 6, 2018 /PRNewswire/ --

The global cold chain market size is estimated to reach USD 447.50 billion by 2025, according to a new study conducted by Grand View Research, Inc., exhibiting a CAGR of 15.0% during the forecast period. Technological advancements in packaging, processing, and storage of seafood products are expected to drive the market over the forecast period.

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Cold chain solutions have become an integral part of supply chain management for transportation and storage of temperature-sensitive products. Increasing trade of perishable products is anticipated to drive market demand over the forecast period. Players operating in the marketplace for cold chain are increasingly adopting alternative energy solutions such as wind and solar to minimize overall operating cost.

Among cold chain solutions, the refrigeration system is used to prolong shelf life and maintain quality of products. Refrigerants used in refrigeration systems pose a threat to the environment because of their high Global Warming Potential (GWP) and Ozone Depletion Potential (ODP).

Growing stringent food safety regulations, such as the Food Safety Modernization Act that requires increased attention toward construction of cold storage warehouse, is slated to benefit the market. Adoption of environmental audit systems such as Leadership in Energy and Environmental Design (LEED) or Building Research Establishment Environmental Assessment Method (BREEAM) can evaluate designs at initial stage. Thus, operational performance of completed buildings can be assessed through these audit systems.

Temperature-controlled warehouses are highly energy-sensitive as they incorporate refrigeration and ventilation systems that require high power consumption. However, better design can reduce power consumption and can help build net-zero energy warehouses. Intelligent warehouse automation and control systems are one of the factors assisting buildings to achieve net-zero energy to become self-sustainable. Less energy consumption notably lowers operating expenditure, eventually contributing to protection of ecology and climate.