Global Cold Chain Logistics Market: By Type (Refrigerated Warehouses and Refrigerated Transportation), By Technology (Blast Freezing, Evaporative Cooling, Vapor Compression, Cryogenic Systems, Programmable Logic Controller, and Other Technologies), By Industry (Chemicals, Pharmaceuticals, Food and Beverages, Medical, and Others), By Temperature Range (Chilled, Frozen, and Deep-frozen),and By Geographical Analysis (North America, Europe, Asia-Pacific, South America, Middle East & Africa)—Forecast till 2032

Description

Market Overview:

The Global Cold Chain Logistics Market, valued at USD 317.1 billion in 2023, is expected to grow substantially, reaching USD 1251.5 billion by 2032. This impressive growth is driven by a strong compound annual growth rate (CAGR) of 16.39% from 2024 to 2032, fueled by rising global demand for temperature-sensitive products across diverse industries.This growth is driven by the rising demand for temperature-sensitive goods in the pharmaceutical and food industries, fueled by the increasing consumer preference for processed ready-to-eat foods, higher export volumes, and stringent temperature requirements for medications. Advancements in cold chain technologies, such as improved refrigeration systems and IoT-enabled tracking devices, along with expanded storage capacities and a focus on sustainability, are enhancing market efficiency. Additionally, stringent regulations for the safe handling and transportation of perishable goods further boost demand for advanced cold-chain logistics services.

Market Size for Global Cold Chain Logistics Market on the Basis of Revenues in USD Bn, 2018-2023

Source: Maven Market Research

Factors Leading to the Growth of the Global Cold Chain Logistics Market

Globalization has increased the complexity of supply chains by connecting economies worldwide, leading to heightened demand for temperature-sensitive products across borders. Industries such as pharmaceuticals and food require stringent temperature controls during transportation and storage to maintain product quality and comply with international standards. This complexity drives the growth of the Global Cold Chain Logistics Market, prompting investments in advanced technologies and infrastructure to efficiently manage the global movement of perishable goods and meet the demands of interconnected markets.

Restraints for the Global Cold Chain Logistics Market

Infrastructure investment and maintenance are key restraints for the Global Cold Chain Logistics Market. Establishing and sustaining cold chain facilities like refrigerated warehouses and temperature-controlled transportation fleets require significant upfront capital and ongoing operational expenses. Limited access to funding, particularly in developing regions, can impede the expansion and modernization of cold chain infrastructure. Additionally, continuous investments in upgrading technology and infrastructure to meet evolving industry standards and consumer demands pose further financial challenges for logistics providers in the cold chain sector.

What is the Current Structure of the Global Cold Chain Logistics Market?

By Type, Refrigerated WarehouseSegment held the largest market revenue in the Global Market

The refrigerated warehouse segment holds the largest share in the market and is projected to retain its dominance in the coming years, primarily due to the growing global preference for packaged food products. The shift in consumer dietary patterns and lifestyles, characterized by a higher demand for convenience foods, is significantly driving the need for frozen food products. This trend is anticipated to boost the demand for refrigerated warehouses, which provide essential storage solutions to maintain the quality and safety of these perishable items. Additionally, the expansion of the food retail sector and increasing investments in advanced refrigeration technologies further contribute to the growth of this segment.

By Technology,the Evaporative Cooling Segment dominated the largest CAGR in the Global Market

With a commanding presence, evaporative cooling technology constituted a substantial portion of the market revenue, surpassing 28%. This reflects its efficiency and increasing adoption across various industries. Expected to maintain its leadership and expand its market reach, the technology is set to grow at an impressive CAGR of 16.94%. This robust growth is driven by several factors contributing to its effectiveness and appeal in applications requiring temperature control and humidity management.

By Industry,the Food and BeveragesSegment dominated the largest CAGR in the Global Market

The food and beverage industry has emerged as the frontrunner in the global cold chain logistics market, commanding a significant 59.6% market share. This leadership position is attributed to the increasing global demand for temperature-sensitive food and beverage products. The substantial market share is underscored by the vast quantities of frozen foods, dairy products, fresh produce, and beverages that necessitate controlled temperatures throughout their transportation.

By Temperature Range,the Frozen (-18 to -25 degrees Celsius)Segment held the largest market revenue in the Global Market

In 2023, the frozen segment (-18°C to -25°C) led the Global Cold Chain Logistics Market, capturing over 61.0% of the revenue share. This segment is anticipated to grow at the fastest CAGR of 20.0% during the forecast period. The demand for freezing temperatures is crucial for maintaining the freshness of poultry, cakes, bread, and meat, thereby increasing the need for frozen cold chain solutions to preserve the quality of perishable food, beverages, and pharmaceutical products. Additionally, the extensive availability of storage and transportation solutions for frozen temperature ranges further propels the segment’s growth.

By Geographical Analysis, the Asia-Pacific (APAC)Region Registered theLargest Market Share in the Global Market

Asia Pacific is forecasted to experience the highest growth among regional markets from 2024 to 2032, driven by significant government investments in cold chain logistics infrastructure. Countries like South Korea, China, Japan, and India are witnessing rising demand for meat, dairy, and processed food products, which is fueling the expansion of the cold chain market in the region. Furthermore, increased foreign direct investments in healthcare and the promotion of pharmaceutical industries are further stimulating growth in the pharmaceutical sector across Asia Pacific.

Competitive Analysis

The market is seeing a steady increase in research-related initiatives and investments by key players leading to improved technology, a better supply chain, and new product and service launches. The leading vendors are focusing on strategic alliances, partnerships, and geographical expansion to strengthen their market position. We expect the market to witness new entrants, portfolio consolidation, increased collaborations, and mergers and acquisitions (M&As), to drive healthy competition within the domain. The global cold chain transportation market is growing steadily due to ongoing technological advancements and improvements in cold chain infrastructure worldwide. Some of the major players includes Americold Logistics, Inc.; LINEAGE LOGISTICS HOLDING, LLC; United States Cold Storage; Burris Logistics; Wabash National Corporation; New Cold; Sonoco Thermo Safe (Sonoco Products Company); United Parcel Service of America, Inc.; A.P. Moller – Maersk; NICHIREI CORPORATION; Tippmann Group

Market Segmentation

Global Cold Chain Logistics Market, By Type

• Refrigerated Warehouses
• Refrigerated Transportation

Global Cold Chain Logistics Market, ByTechnology

• Vapor Compression
• Blast Freezing
• Evaporative Cooling
• Programmable Logic Controller
• Cryogenic Systems
• Other Technologies

Global Cold Chain Logistics Market, By Industry

• Food and Beverages
• Pharmaceuticals
• Chemical
• Medical
• Others

Global Cold Chain Logistics Market, By Temperature Range

• Chilled (0 to 15 degrees Celsius)
• Frozen (-18 to –25 degrees Celsius)
• Deep-frozen (below -25 degrees Celsius)

Global Cold Chain Logistics Market, By Geographical Analysis

• North America
• Mexico
• United States (U.S.)
• Canada
• Europe
  • Germany
  • United Kingdom (U.K.)
  • France
  • Italy
  • Spain
  • Denmark
  • Belgium
  • Netherlands
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • China
  • Taiwan
  • Japan
  • Australia
  • Indonesia
  • Hong Kong
  • South Korea
  • India
  • Malaysia
  • Rest of Asia Pacific (APAC)
• Middle East & Africa (ME&A)
• Egypt
• South Africa
• Israel
• Saudi Arabia
• Rest of ME&A
• South America
• Brazil
• Argentina
• Peru
• Costa Rica
• Venezuela
• Rest of South America

Major Key Operating Market Leaders Include

• Preferred Freezer Services
• Burris Logistics Co.
• AGRO Merchants Group
• Kloosterboer Group B.V.
• Trenton Cold Storage
• Snowman Logistics Limited
• FedEx Corp.
• VersaCold logistics services
• Ceva Holdings LLC
• ColdEX Ltd.
• Swire Cold Storage Limited
• Tippmann Group
• United Parcel Service Inc.
• Lineage Logistics
• Cloverleaf Cold Storage