NEW YORK, Feb. 27, 2017 /PRNewswire/ -- The global cold
chain market is anticipated to reach USD
381.68 billion by 2025, according to a new report by Grand
View Research, Inc. The expansion of trade over the years has
arisen the necessity of making improvements in the packaging of
crops as such, the materials used for packaging play a major role
in enhancing the storage life.
The development of cold chain is largely responsible for the
reduction of wastage of perishable commodities and is vital for the
growth of the food sector. Governments across globe provide key
services, such as public infrastructure and legislation, which help
in facilitating the refrigerated storage development. Furthermore,
service providers train employees to enhance technical expertise in
the operation and maintenance of specialized facilities.
Emerging countries such as India, Brazil, China, and Mexico are currently undergoing a rapid
transition to a consumer-led economy. The retailers in these
regions have ample opportunities to expand and grow, owing to the
prevailing large number of middle-class income consumers.
Advancements in the technology have enabled service providers to
penetrate the emerging markets with innovative solutions to help
solve issues relating to complex transportation.
Investment in warehouse automation has been increasing over the
past years to meet the customer requirements. High capital
investment, running costs, and scalability of different picking
methods are the key factors that restrain the market players to
automate the warehouses. Furthermore, the growing application of
telematics in logistics and transportation is likely to spur the
refrigerated transportation market demand.
The retailers and franchise customer have vertical integration
with the cold chain service providers to ensure the safety and
quality of the product. The lack of cold chain facilities in
less-developed economies made retailers to invest heavily in
developing own cold chain logistics systems.
The increasing penetration of connected devices and growing
usage of RFID, barcode scanners in the refrigerated warehouse is
anticipated to drive the monitoring components segment demand over
the projected period. The service providers are focusing on
adopting new technologies such as cloud technology to enhance the
overall logistics performance.
Further key findings from the report suggest:
The storage type segment dominates the market in terms of
revenue
The containerization of perishable products is expected to
increase the demand for refrigerated containers over the forecast
period
The rapid detection methods, such as nucleic acid-based,
immunological-based, and biosensor-based foodborne detection
methods, are gaining traction in the market
The processed food application is expected to register a high
CAGR of 12.1% over the projected period
The Asia Pacific region is
expected to portray a high growth rate over the forecast period
The rising popularity of quick-service restaurants,
technological advancements in food packaging, and modern retail
trade are driving the processed food application
The key market players include Lineage Logistics (U.S.), Nordic
Logistics (U.S.), Swire Group (UK ), and Wabash National
Corporation (U.S.)
Read the full report:
http://www.reportlinker.com/p04717543-summary/view-report.html
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