Top Trends and Insights on Global Cold Chain Equipment Market

20-Feb-2018 | Zion Market Research

The worldwide cold chain market is basically fueled by the rising requirement to decrease food wastage around the world. Further, the fast expansion of frozen food segment is anticipated to boost the cold chain equipment market. Nevertheless, the high price of installation along with strict government regulation and policies is anticipated to hamper the development of cold chain equipment market. However, the rising requirement for food in budding countries is expected to bring new opportunities for cold chain equipment market in coming period.

The cold chain is an uninterrupted supply chain that entirely serves distribution and storage capabilities with a temperature-controlled array to extend and assist to assure the shelf life of items such as drugs, chemicals, and vaccines. The cold chain tools, in the cold chain process, are an imperative element of the supply chain. The vaccine carriers and cold chain equipment assure the efficiency, quality, or safety of the products transported/distributed.

According to the report, global cold chain equipment market will increase from USD 67.0 billion in 2014 to USD 118.0 billion by 2020 and is predicted to grow at a CAGR of 9.8% between 2015 and 2020.

In 2014, the storage equipment segment led the cold chain equipment market that makes share of above 50.0% of the worldwide market. The storage equipment was trailed by transport equipment segment in 2014. Furthermore, storage equipment is anticipated to maintain this trend during the imminent years owing to increasing requirement of storage equipment to meet the mounting requirement for food along with the strong requirement for frozen food around the world.

On the basis of the end-uses segment, the worldwide cold chain equipment market was ruled by fish, seafood, and meat segment. It reckoned above 35.0% share of the complete revenue produced in 2014. Moreover, it is also anticipated to continue to extend segment on account of the robust requirement for fish, seafood, and meat across the world. In addition, frozen dessert and dairy is another imperative outlet that is projected to observe the noteworthy growth in the coming period.

The Asia Pacific is anticipated to become one of the rapidly flourishing regional markets for the cold chain equipment in the anticipated duration. The growth of the market is projected to be fueled by the elevated use of cold chain management in China and India. Hence, the augmented requirement for cold chain logistics in budding economies is among the key trends that are anticipated to add to the growth of the worldwide cold chain market over the coming years.

The major players in the worldwide cold chain market consist of Lineage Logistics, Preferred Freezer Services, AmeriCold Logistics, and Swire Cold Storage, Bring Frigoscandia AS, A.B. Oxford Cold Storage, Claus Sorensen, Burris Logistics, ColdEX, Columbia Colstor, and Cloverleaf Cold Storage among others.

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