North America Cold Chain Market Outlook
According to a new report by Expert Market Research titled “North America Cold Chain Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the North America cold chain market is projected to grow at a CAGR of 9.5% between 2023 and 2028. Aided by increased consumption of meat and sea food in North America and strong growth in the sales of temperature sensitive healthcare products, the market is expected to grow significantly by 2028.
Cold chain refers to a temperature-controlled supply chain utilised to maintain and distribute perishable products. From vaccines to frozen foods, the cold chain industry is pivotal in ensuring that products requiring specific temperature conditions reach the end-user without any loss in quality or efficacy. Often comprised of a seamless system of refrigerated production, storage, and distribution activities, along with associated equipment and logistics, cold chain is integral to modern supply chain management.
The North America cold chain market growth is propelled by several key factors, most importantly by the ever-growing demand for perishable food items. With consumers increasingly leaning towards fresh produce, dairy products, and frozen foods, the cold chain sector’s role becomes critical. This trend aligns well with North American eating habits, where convenience and quality often go hand-in-hand, thereby necessitating robust cold chain logistics.
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Another factor driving the North America cold chain market demand is the pharmaceutical industry’s dependency on it. The recent global health crises have made it evident how imperative cold storage is for the transport of vaccines and medications that are temperature sensitive. The need for precise control conditions for such pharmaceuticals is not just a necessity but also a health imperative.
Further fuelling the market is the e-commerce boom, which necessitates the movement of goods under temperature-controlled conditions, especially those bought and sold across borders. The intricate network of last-mile deliveries, especially for perishable goods, adds another layer of complexity and opportunity, thus influencing North America cold chain market trends.
Technological advancements are another pillar reinforcing the market’s growth. Modernisation in the form of IoT sensors, advanced refrigeration methods, and real-time tracking mechanisms contribute to the efficiency and reliability of the cold chain system. These advancements not only improve inventory management but also enhance the overall quality of the goods transported, thereby boosting consumer trust and regulatory compliance.
The North America cold chain market analysis also highlights an interesting factor regarding environmental consciousness, where sustainable methods are being adopted within the industry. The incorporation of green technologies, like energy-efficient refrigeration systems and cleaner transport methods, indicates emerging trends in the market, focusing not just on efficiency but also on environmental responsibility.
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Moreover, the food safety regulations and compliance standards in North America are stringent and highly enforced, adding another layer of necessity for reliable cold chain logistics. The regulatory bodies like the FDA in the United States and CFIA in Canada require rigorous storage and transportation standards, which only emphasises the importance and scope of the cold chain market.
North America Cold Chain Market Segmentation
The market can be divided based on service type, temperature, end use, and country.
Market Breakup by Service Type
- Refrigerated Storage
- Refrigerated Transport
- Airways
- Roadways
- Seaways
- Railways
Market Breakup by Temperature
- Chilled
- Frozen
Market Breakup by End Use
- Meat and Seafood
- Dairy and Frozen Products
- Fruits and Vegetables
- Bakery and Confectionery
- Pharmaceuticals
- Others
Market Breakup by Country
- United States of America
- Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America cold chain market. Some of the major players explored in the report by Expert Market Research are as follows:
- Americold Logistics
- Lineage Logistics Holding, LLC
- United States Cold Storage Inc.
- VersaCold Logistics Services
- Others
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