Press Release

Cold Chain Storage and Logistics Market to Grow with a CAGR of 15.19% through 2029

Rising demand for temperature-sensitive goods, growing prevalence of e-commerce and the need for efficient last-mile delivery of temperature-sensitive goods are likely to drive the Market in the forecast period.


According to TechSci Research report, “Cold Chain Storage and Logistics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, Global Cold Chain Storage and Logistics Market was valued at USD 263.27 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 15.19% through 2029. the Global Cold Chain Storage and Logistics Market is experiencing a surge in demand in the forecast period. A fundamental driver propelling the global Cold Chain Storage and Logistics market is the escalating demand for perishable goods and pharmaceuticals. Evolving consumer preferences, particularly in developed and emerging economies, emphasize the importance of fresh and frozen produce, driving the need for a sophisticated cold chain network. As urbanization continues and lifestyles change, the demand for temperature-sensitive products rises, spanning from fresh fruits and vegetables to dairy products and frozen foods. Advancements in healthcare, pharmaceuticals, and biotechnology contribute to the heightened demand for precise temperature-controlled logistics. The global distribution of vaccines, biopharmaceuticals, and other temperature-sensitive medications requires a seamless cold chain infrastructure to ensure the efficacy and safety of these critical products. The ongoing battle against the COVID-19 pandemic has underscored the indispensable role of the cold chain in the storage and distribution of vaccines, emphasizing its pivotal status as a lifeline in global health crises.

The Cold Chain Storage and Logistics market responds to this driver by continuously innovating and expanding its capabilities. Companies invest in cutting-edge technologies, such as IoT-enabled monitoring systems, and expand their infrastructure to meet the evolving demands of a market where the safe and efficient handling of perishable goods and pharmaceuticals is paramount. Another key driver steering the global Cold Chain Storage and Logistics market is the rapid progression of technology within the industry. Advancements in refrigeration systems, temperature monitoring devices, and data analytics have reshaped the landscape of cold chain logistics, enhancing its efficiency, reliability, and overall effectiveness. The integration of Internet of Things (IoT) technologies stands out as a pivotal development, providing real-time visibility and control over temperature-sensitive products during transportation and storage. This level of connectivity allows stakeholders to proactively manage and mitigate risks, ensuring that goods remain within specified temperature ranges. From sensors in refrigerated containers to smart tracking systems, technology facilitates a proactive approach to cold chain management, reducing the likelihood of product spoilage and ensuring compliance with regulatory standards.

Blockchain technology is also gaining prominence in the Cold Chain Storage and Logistics sector. Its ability to provide an immutable and transparent record of transactions enhances traceability, reduces fraud, and ensures the integrity of the supply chain. By leveraging blockchain, stakeholders can precisely track the journey of temperature-sensitive products, instilling confidence in both regulatory bodies and end consumers. In response to this technological driver, businesses in the Cold Chain Storage and Logistics market are actively investing in these innovations. By adopting state-of-the-art solutions, companies can not only meet the current demands of the market but also position themselves as industry leaders, prepared to navigate the future challenges and opportunities presented by the dynamic intersection of technology and logistics.

                                                                                             

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The Global Cold Chain Storage and Logistics Market is segmented into type, application and region.

Based on application, The Drugs & Pharmaceuticals segment held the largest Market share in 2023. Pharmaceuticals, including vaccines, biopharmaceuticals, and certain medications, are highly sensitive to temperature variations. Deviations from the specified temperature range can compromise the efficacy and safety of these products. Cold Chain Storage and Logistics ensure that pharmaceuticals are stored and transported under controlled conditions to maintain their integrity. The global emphasis on vaccination programs, especially during health crises such as the COVID-19 pandemic, has heightened the importance of the Cold Chain Storage and Logistics market. Vaccines often have specific temperature requirements, ranging from refrigeration to ultra-low temperatures, necessitating specialized cold chain infrastructure.

Stringent regulatory standards, including Good Distribution Practice (GDP) and other pharmaceutical guidelines, mandate precise temperature control throughout the pharmaceutical supply chain. Compliance with these regulations is crucial for obtaining regulatory approvals and ensuring the safety and efficacy of medications. Cold Chain Storage and Logistics provide the controlled environment needed to meet these regulatory requirements. The pharmaceutical sector plays a pivotal role in healthcare supply chains. The timely and secure distribution of medications is essential for patient well-being. Cold Chain Storage and Logistics enable pharmaceutical companies to deliver products to healthcare providers, pharmacies, and distribution centers with the assurance that the products have been maintained under the required temperature conditions. Advances in biopharmaceuticals, which include complex and temperature-sensitive products like monoclonal antibodies and gene therapies, contribute to the growing importance of Cold Chain Storage and Logistics. These innovative pharmaceuticals often require specialized handling and storage to preserve their therapeutic properties.

The pharmaceutical industry has seen a rise in specialty medications that often have specific temperature requirements. These drugs are designed for targeted treatments and personalized medicine, driving the need for advanced cold chain solutions to ensure their effectiveness. The globalization of pharmaceutical supply chains, with production and distribution networks spanning multiple countries, underscores the need for a well-established cold chain infrastructure. Cold Chain Storage and Logistics facilitate the seamless movement of pharmaceutical products across borders while maintaining the required temperature conditions.

 

Major companies operating in the Global Cold Chain Storage and Logistics Market are:

  • Thai Max Cold Storage Co. Ltd
  • Nichirei Corporation
  • Americold Reality Trust Inc. 
  • Nippon Express Co. Ltd
  • John Swire & Sons (H.K.) Ltd
  • Interstate Cold Storage Inc.
  • Agility Holdings Inc. 
  • Snowman Logistics Ltd.
  • JWD InfoLogistics Public Company Limited   
  • Burris Logistics 

 

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“The Global Cold Chain Storage and Logistics Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The primary driver of the global Cold Chain Storage and Logistics market is the increasing demand for temperature-sensitive goods, including perishable foods and pharmaceuticals. As consumers worldwide prioritize fresh produce and pharmaceutical advancements, the need for a reliable and efficient cold chain infrastructure intensifies. This demand is further fueled by the globalization of supply chains, the growth of e-commerce, and stringent regulatory requirements for product safety. To meet these evolving needs, businesses invest in advanced technologies, temperature-controlled storage, and seamless transportation solutions, positioning the Cold Chain Storage and Logistics market as a critical enabler for the safe and optimal delivery of temperature-sensitive products. Therefore, the Market of Cold Chain Storage and Logistics is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

Cold Chain Storage and Logistics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Cold Chain Storage, Cold Chain Logistics), By Application (Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish, & Sea Food, Drugs & Pharmaceuticals, Others), By Region & Competition 2019-2029F”, has evaluated the future growth potential of Global Cold Chain Storage and Logistics Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Cold Chain Storage and Logistics Market.

 

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Cold Chain Storage and Logistics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Cold Chain Storage, Cold Chain Logistics), By Application (Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish, & Sea Food, Drugs & Pharmaceuticals, Others), By Region & Competition, 2019-2029F

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The escalating demand for temperature-sensitive products alongside the burgeoning impact of e-commerce, combined with the imperative for efficient last-mile delivery of these goods, stand as pivotal drivers fueling the expansion of the Global Cold Chain Storage and Logistics Market.

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