Government initiatives will help boost cold chain market size
THE cold chain market size is likely to grow at a steady rate from 2016 to 2024 due to increasing demand for packaged food and beverage products
THE cold chain market size is likely to grow at a steady rate from 2016 to 2024 due to increasing demand for packaged food and beverage products.
The cold chain market will be chiefly driven by favourable government initiatives, advancements in refrigerated storage technology and increasing number of middle-class income group consumers in developing nations.
Government initiatives such as easy access to public infrastructure including railways, warehouses, etc along with policies that encourage investments will help the cold chain market to grow during the forecast period, according to Fractovia.org.
Most of the food and beverage items are transported to different areas after packaging and the need to protect these products from perishing while transportation and storage will drive the global cold chain market growth. Increasing import and export of food and beverage products will also propel the cold chain industry development during the forecast timeframe.
Cold chain includes logistics planning to maintain the temperature at which perishable food products are stored through refrigeration or thermal packing. The cold chain market is segmented, based on its type, into refrigerated storage and refrigerated transport.
Refrigerated storage market segment consists of warehouse and refrigerated containers, whereas transportation segment consists of road, sea, rail, and air.
The global cold chain market is further segmented, based on region, into Asia-Pacific, North America, Europe, Middle East & Africa and Latin America.
Asia Pacific countries such as China and India have a huge potential for the development of the cold chain industry owing to growing processed and packaged food items demand from a rapidly expanding middle class income consumers.