Technavio says global F&B cold chain logistics market will surpass $206 billion by 2020

Renewable energy

 

F&B cold chain logistics: Key market research findings

  • Growth of chilled and frozen food industry
  • Adoption of multi-temperature refrigerated vehicles
  • Leading vendors include AmeriCold Logistics, Kloosterboer, Lineage Logistics, Nichirei Logistics Group, Preferred Freezer Services, and John Swire & Sons.

Technavio has released a new report on the global F&B cold chain logistics market, which is expected to grow at a CAGR of around 11% between 2016 and 2020. Consumers are increasingly seeking out frozen food with functional benefits that would contribute to their health and well-being. These frozen foods require an effective cold storage system and need to be transported using refrigerated transport to ensure the chemical composition of the frozen food is intact even after several months. At present, several cold chain service providers are focusing on improving their supply chain efficiency and improving the technology used in cold storage to deliver high-quality food to the end-users.  The Americas dominated the market in 2015 and accounted for more than 45% of the overall market revenue. The increased demand for vegetables and fruits from consumers in this region is a major factor that is contributing to the growth of the market in this region.

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“One of the latest trends gaining grounds in this market is the adoption of multi-temperature refrigerated vehicles. The decrease in size of shipments has increased the need for multi-compartments in refrigerated vehicles. These multi-compartment refrigerated vehicles offer flexibility of transporting products which require different temperatures. The coldest compartment is primarily located at the front and the warmest at the rear. Heat transfer between the compartments, loading arrangements and method of temperature control are the major focus areas in this system,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research

The meat, fish, and seafood segment dominated the market in 2015 and accounted for more than 43% of the overall market revenue. The increasing demand for meat exports from the Middle East nations such as Saudi Arabia, Turkey, and Qatar is the primary reason for this segment’s growth. Moreover, Asian countries like China, Japan, and India have also witnessed an increase in the trade quantum for export and import of frozen meat and seafood. Since meat, fish, and seafood are extremely perishable when exposed to regulating temperature conditions; cold chains are indispensable in preserving the functional benefits, health, and safety of these products.

AmeriCold Logistics, Kloosterboer, Lineage Logistics, Nichirei Logistics Group, Preferred Freezer Services, and John Swire & Sons are the key players in the global F&B cold chain logistics market. The market is highly fragmented as it is characterized by the presence of several local vendors providing cold chain services in specific regions. However, the increasing demand for cold chain logistics and the continuous growth of the frozen food and online retail market is anticipated to attract new vendors to enter the market during the forecast period.

A more detailed analysis is available in the Technavio report, Global F&B Cold Chain Logistics Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

Other Related Reports:

· Cold Chain Logistics Market in India 2015-2019

· Cold Chain Logistics Market in North America 2015-2019

· Global Refrigerated Transportation Market 2016-2020

· Global Perishable Goods Transportation Market 2016-2020