Global Cold Chain Logistics Market Drivers, Trends and Opportunities 2019
WiseGuyReports has added new market study to its database, titled “2019 Global and Regional Cold Chain Logistics Market Research Report Forecast 2025”.
PUNE , MAHARASHTRA, INDIA, September 23, 2019 /EINPresswire.com/ -- Report Description:
The wise guy report contains Global Cold Chain Logistics Market based on Product Type, Temperature Type, Application and Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025) analysis. A cold chain denotes the series of actions and equipment applied to maintain a product within a specified low-temperature range from harvest/production to consumption.
Based on the report, global cold chain market size was valued at USD 167.99 billion in 2018 and is expected to expand at a annual growth rate of 15.1% from 2018 to 2025.Cold Chain Logistics refers to the collection of temperature controlled surface transportation, distribution, and storage activities.
Cold chain solutions have become an integral part of supply chain management for transportation and storage of temperature-sensitive products. Cold chain services are developed to provide the storage conditions and ideal transportation for temperature-sensitive products.
The report talks about how the Internet of Things (IoT) solution is progressively being incorporated into the cold chain to boost supply chain efficiency and effectiveness for goods such as fruit, meat and medications. Integrating IoT into the cold chain enables businesses connect with their logistics system at every step. IoT also enables companies to remotely alter and monitor car or warehouse temperature settings. Thus, using IoT with cold chain during the forecast period will be a main trend in the cold chain industry.
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According to the report, growing strict food safety laws, such as the Food Safety Modernization Act requiring enhanced attention to cold storage warehouse building, are expected to benefit the industry. Environmental audit schemes such as Leadership in Energy and Environmental Design (LEED) or Building Research Establishment Environmental Assessment Method (BREEAM) may initially assess designs. Through these audit schemes, the operational efficiency of finished structures can be evaluated. The growing amount of trade corridors is a main factor driving the development of the worldwide market size of the cold chain. Different nations invest in trade corridors to facilitate the transportation of products and commodities. Integrating trade corridors into transport networks offers financial advantages and promotes economic growth, more employment, decreased poverty, and economic resilience. Businesses are increasingly using these financial corridors to transport perishable, temperature-sensitive products such as vegetables, fruits and fish across boundaries.
The report of segments contains various topics of information. Based on product type, the cold chain logistics market has been categorized into storage, transportation, and monitoring components. Based on package type the report contains the information of xpanded Polystyrene (EPS), Vacuum Insulated Panel (VIP), Polyurethane (PUR), cryogenic tanks, and others.
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Based on region market, North America is expected to dominate the Global Cold Chain Logistics Market during the forecasted period followed by Asia Pacific region, Europe. High cost of transportation and problems faced of customs clearance across borders restrain the market growth.
According to the report, Brazil is a significant player in market growth in South America. It is anticipated that the Brazilian government will increase the market by implementing dietary guidelines on the use of new food products over processed food. These rules would require cold chains to be developed to satisfy storage, transportation, and fresh food packaging requirements.
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