Mounting Concerns over Reduction of Post-Harvest Wastage to Impel Demand for Cold Chain Services, says TMR
The need for proper storage facilities for food products such as seafood, dairy products, fresh agricultural produce, and frozen foods is anticipated to drive the demand for cold chain services in the coming years, states Transparency Market Research in a new report. The report titled, “Cold Chain Market for Food Industry – Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 – 2023” provides a thorough description of the global cold chain market with an analysis of the historical growth trend, the current state of the market, and future growth prospects of the market along with global and regional market statistics.
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According to the report, governments across the world have taken several initiatives to enhance their cold chain storage and transportation facilities to preserve feed stocks for future use and reduce food wastage of processed food. Players operating in the cold chain business are being impelled to make capital investments in order to expand their cold chains owing to the mounting need for transport facilities and cold storage, and rise in export and import activities. In order to meet the unmet needs of consumers and enter the untapped markets, leading players are entering into strategic mergers and acquisitions with regional players.
The report states that the rising demand for chilled and frozen food products along with growing trade activities are important factors driving the growth of the global cold chain market. Furthermore, heavy foreign investments in the cold chain sector of emerging countries and the proliferating growth opportunities in the markets of emerging economies are likely to further to augment the growth of the cold chain market globally.
However, lack of proper infrastructure and funds is a major restraint in the growth of the global cold chain market. The hike in prices of energy and maintenance cost of cold chain storage facilities are likely to further inhibit the growth of the global cold chain storage market.
The region leading the global cold chain market is North America with a considerable market for cold chain logistics. The key players in the global cold chain market are DHL International GmbH, FedEx Corporation, Continental Air Cargo, World Courier, and Kuehne and Nagel International.
The study provides data in terms of revenue and volume for all the key regions and other segments of the global cold chain market. A detailed overview of all the companies operating in the global cold chain market has also been provided in the report. The strategies, share, product specifications, and position of the key players have been thoroughly described in the study. The competitive landscape of the market has been analyzed effectively by significantly studying the Porter’s five forces and understanding the strength, weaknesses, opportunities, and threats present in the market.