Cold Chain Logistics Market to Reach $585.10 Bn, Globally, by 2026 at 17.9% CAGR

Allied Market Research

Surge in refrigerated warehouses, growth of processed food industry and pharmaceutical sector, and adoption of automated software drive the growth in the global cold chain logistics market

PORTLAND, Oregon, July 22, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Cold Chain Logistics Market by End Use Industry (Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish & Sea Food, Drugs & Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global cold chain logistics market garnered $159.98 billion in 2018 and is estimated to reach $585.10 billion by 2026, growing at a CAGR of 17.9% from 2019 to 2026.

Surge in refrigerated warehouses, growth of processed food industry and pharmaceutical sector, and adoption of automated software drive the growth of the cold chain logistics market. However, high operational costs and lack of standardization hinder the market growth. On the other hand, implementation of RFID technologies creates new pathways in the industry.

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Meat fish & sea food segment to maintain its dominant position by 2026

Based on type, the meat fish & sea food segment accounted for more than one-third of the total market share in 2018, and is expected to maintain its dominant position during the forecast period. This is due to significant rise in consumption of meat, fish, and sea food every year. However, the dairy & frozen desserts segment would grow at the fastest CAGR of 20.7% from 2019 to 2026, owing to rise in retail industry and rapid surge in demand for frozen food.

Asia-Pacific to maintain its leadership position during the forecast period

Based on region, Asia-Pacific held the major market share in 2018, accounting for nearly two-fifths of the total share, and will maintain its leadership position during the forecast period. This is attributed to rise of pharmaceutical sector in this region. However, LAMEA is estimated to register the fastest CAGR of 22.0% from 2019 to 2026, owing to the growth of the processed food industry in the region.