Cold Chain Industry Overview

The global cold chain market size was valued at USD 270.98 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 18.9% from 2024 to 2030.

Changes in consumer preferences and growing e-commerce sales are expected to drive the growth of the market. An increasing number of organized retail stores in developing economies are leading to the growing demand for cold chain solutions. Rising investment in cold chains and government initiatives to minimize food waste are expected to boost market growth. The growing adoption of technologies such as RFID and automation in cold chain applications provides significant growth opportunities for the market.

Gather more insights about the market drivers, restrains and growth of the Cold Chain Market

The World Trade Organization (WTO) and bilateral free trade agreements, such as the European Union Free Trade Agreement (FTA) and the North America Free Trade Agreement (NAFTA), have created opportunities for exporters in the U.S. and Europe to increase trade for perishable foods in a duty-free manner.

The refrigerated storage market in developing economies is driven by a shift from carbohydrate-rich diets to protein-rich foods, owing to rising consumer awareness. Countries such as China are expected to portray a significant growth rate over the coming years due to a consumer-led economic transition. With growing technological advancements in warehouse management and refrigerated transportation, the market will likely expand in developing economies.

Increasing IT spending in cold storage logistics drives the growth of the cold chain market by facilitating better inventory management and improving the overall efficiency of cold chain supply systems. By investing in advanced technologies such as cloud computing, IoT, and RFID, cold storage operators can track and monitor their inventory in real-time, reducing the risk of food waste, spoilage, and product recalls. The rising demand for temperature-sensitive products has emphasized the need for real-time cold chain monitoring.

Furthermore, several countries have strict regulations governing the transportation and storage of perishable food products to ensure food safety and quality. Compliance with these regulations often requires a robust cold chain system, which can be achieved with the help of IT systems. IT systems are critical in complying with these regulations as they provide real-time monitoring of temperature and humidity levels, location tracking, and data analytics.

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Cold Chain Market Segmentation

Grand View Research has segmented the global cold chain market based on type, temperature range, application, and region:

Cold Chain Type Outlook (Revenue, USD Billion; 2017 - 2030)

• Storage
  • Facilities/Services
    • Refrigerated Warehouse
      • Private Semi-Private
      • Public
    • Cold Room
  • Equipment
    • Blast freezer
    • Walk-in Cooler and Freezer
    • Deep Freezer
    • Others
  • Transportation
    • By Mode
      • Road
      • Sea
      • Rail
      • Air
    • By Offering
      • Refrigerated vehicles
      • Refrigerated containers
    • Packaging
      • Crates
      • Insulated Containers Boxes
        • Large (32 to 66 liters)
        • Medium (21 to 29 liters)
        • Small (10 to 17 liters)
        • X-small (3 to 8 liters)
        • Petite (0.9 to 2.7 liters)
      • Cold chain bags/Vaccine bags
      • Ice packs
      • Others
    • Monitoring Components
      • Hardware
        • Sensors
        • RFID Devices
        • Telematics
        • Networking Devices
        • Others
      • Software
        • On-premise
        • Cloud-based

Cold Chain Temperature Range Outlook (Revenue, USD Billion; 2017 - 2030)

• Chilled (0°C to 15°C)
• Frozen (-18°C to -25°C)
• Deep-frozen (Below -25°C)

Cold Chain Application Outlook (Revenue, USD Billion; 2017 - 2030)

• Food Beverages
  • Fruits Vegetables
  • Fruit Pulp Concentrates
  • Dairy Products
    • Milk
    • Butter
    • Cheese
    • Ice cream
    • Others
  • Fish, Meat, and Seafood
  • Processed Food
  • Bakery Confectionary
  • Others
• Pharmaceuticals
  • Vaccines
  • Blood Banking
  • Others
• Others

Cold Chain Regional Outlook (Revenue, USD Billion; 2017 - 2030)

• North America
  • S.
  • Canada
• Europe
  • Germany
  • K.
  • France
  • Spain
  • Italy
  • Norway
  • Netherlands
  • Switzerland
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Singapore
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East Africa
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

Key Companies profiled:

• Americold Logistics, Inc.
• LINEAGE LOGISTICS HOLDING, LLC
• United States Cold Storage
• Burris Logistics
• Wabash National Corporation
• NewCold
• Sonoco ThermoSafe (Sonoco Products Company)
• United Parcel Service of America, Inc.
• P. Moller - Maersk
• NICHIREI CORPORATION
• Tippmann Group

Key Cold Chain Market Company Insights

• LINEAGE LOGISTICS HOLDING, LLC is a U.S.-based firm that provides warehousing and logistics solutions to users operating in various industries. The company’s solutions consist of temperature-controlled public warehousing facilities for storing various types of food, including pork, beef, poultry, bakery products, fruits vegetables, seafood, ice creams, and vegetables. The company also provides port-centric cold chain facilities on the East and West Coasts of the country to serve containerized markets and break bulk for its customers. The third-party facility management services comprise customized operating solutions for Fortune 500 companies in various consumer and food segments.
• In April 2023, LINEAGE LOGISTICS HOLDING, LLC announced the opening of a new facility in Port Wentworth, Georgia. The facility is 220,000 square feet in size and offers cross-docking services. With this expansion, the company aimed to meet the needs of port-centric warehousing.
• Americold Logistics, Inc., based in the U.S., provides temperature-controlled warehousing and transportation for the food industry. The services provided under producer solution include dedicated facilities, public refrigerated warehouses, port facilities, automation, and integrated consolidation programs. The services provided under the retailer solutions include integrated consolidation programs, i-3PL supply chain, system integration, port facilities, automation, and network optimization study. It has marked its presence across regions such as Asia Pacific and the Americas.

Recent Developments

• In June 2023, Intelsius announced the addition of the ORCA Pallet to its ORCA temperature-controlled packaging range. It has been described as a multi-use and high-performance temperature-controlled pallet shipper designed for large-volume pharmaceutical payloads in the cold chain. It comes in 3 sizes and 3 temperature ranges and has a collapsible design to combat budget and storage constraints.
• In June 2023, Canadian Pacific Kansas City (CPKC) and Americold announced a strategic partnership for the co-location of Americold’s warehouse facilities on the CPKC network. The main objective of the partnership is the optimization of temperature-controlled logistics across North America by building a facility in Kansas City, Missouri, bringing together cold storage and value-added-services and connecting major markets in the U.S. Midwest and Mexico.

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