Global Cold Chain Market Research Report, 2024-29

Cold chain logistics is the technology and method that provides for the safe transportation of temperature-sensitive commodities and products, such as fresh agricultural items, seafood, frozen food, photographic film, chemicals, and pharmaceuticals, as well as the supply chain. It has an impact on all stages of the supply chain, from purchasing to transportation, storage, and last-mile delivery. Product delivery modes include refrigerated trucks, refrigerated railcars, refrigerated cargo, and air cargo. The procedure also includes the use of temperature-controlled warehouses for product storage and cold-insulated transport vehicles for product distribution. Furthermore, cold chains are critical for extending marketing, limiting overcapacity, decreasing transportation bottlenecks during peak periods, and ensuring product quality. Cold supply chain logistics contributes significantly to the economy and labor, in addition to supplying quality and safe products to consumers. Quality products increase demand and hence contribute to economic growth. Furthermore, it plays an important role in reducing loss of perishable products and commodities, thereby providing farmers with remunerative prices. New initiatives in India, such as a planned infrastructure investment of over INR 100 lakh crore, have boosted the rural economy and put the food processing sector on a high development trajectory, increasing demand for cold chain logistics in the processed food sector. Furthermore, the use of technology in cold chain logistics provides modern warehouse management by utilizing current heavy-duty refrigeration systems that assist in maintaining proper temperature throughout shipping and storage of goods. Adoption of modern IoT-based automated software for cold chain management offers operators with real-time data, giving unparalleled visibility into every operation and transaction inside cold chain logistics. Sensors, GPS, mobile networks, and a cloud-based platform enable operators to connect intermodal shipping containers, cargo, vessels, and trailers to enterprise IT systems. According to the research report, “Global Cold Chain Logistics Market Overview, 2024-29” published by Actual Market Research, the market is anticipated to cross USD 740 Billion by 2029, increasing from USD 338.01 Billion in 2023. The market is expected to grow with 14.33% CAGR by 2024-29. The increased use of this software in various industries that make use of cold chain logistics will provide a better growth for the market. As there is a growth in the number of the various distribution channels like the supermarkets or the hypermarkets, different types of convenience stores there shall be a greater demand for cold storage logistics. Bully policies adopted by the government relating to the trade of various food products that will be helpful in reducing the wastage of food will also be helpful in having a effective distribution channel. They shall be an increase in the use of coal storage options and transportation options. The larger retail chains in the organized form like spar, Walmart are focusing on providing their outlets in different developed nations. Apart from the developed nations these organized retail chains are also planning to expand their business to the developing nations. These expansions shall lead to an increase in the demand for cold chain logistics in the developed as well as the developing economies. Walmart is present in 24 countries which is a US based retail chain. It has 10,526 outlets in these 24 countries. The expanding business of these retail chains across the globe and they are increasing operations in the developing as well as the developed nations will be helpful in providing better opportunities for growth of the cold chain logistics during the forecast period as the demand for refrigeration for transportation as well as storage will increase. There has also been an increase in the initiatives taken by various countries that are supportive of developing the market for coal chain logistics in developing nations. These government policies are also focusing on providing innovative solutions that will provide effective transportation as well as storage options for various food products that need temperature control. After the pandemic as there is a growth in the delivery services as the demand for the processed and the perishable food items has increased there shall be more opportunities in the market during the forecast period. Market Drivers

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• Globalization and Supply Chain Complexity: The increasing globalization of trade and supply chains has led to a more interconnected world. As businesses expand their reach across borders, the demand for seamless cold chain logistics to ensure the safe and timely transportation of perishable goods has risen. The complexity of international trade requires a robust and efficient cold chain network to maintain the quality and integrity of products across diverse geographical locations. • E-commerce Growth: The rapid growth of e-commerce has transformed consumer expectations for quick and reliable delivery, even for perishable goods. Online grocery shopping and the delivery of fresh products directly to consumers' doorsteps have spurred the need for efficient cold chain logistics solutions. The integration of cold chain logistics into e-commerce operations has become essential, driving innovation in last-mile delivery and ensuring the freshness of products ordered online. Market Challenges

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• Infrastructure Investment and Maintenance: Developing and maintaining a robust cold chain infrastructure, including refrigerated storage facilities, specialized transportation, and technology systems, requires substantial investment. The need for continuous upgrades and maintenance adds to the challenge. Investment challenges can hinder the expansion and improvement of the cold chain network, affecting its ability to meet the growing demand for temperature-controlled logistics. • Last-Mile Delivery Challenges: The last mile of delivery, where products reach their final destination, presents unique challenges for cold chain logistics. Ensuring temperature control in urban environments, residential areas, and retail outlets during the final leg of the journey poses logistical difficulties. Overcoming last-mile delivery challenges is crucial to maintaining the integrity of temperature-sensitive products until they reach the end consumer. Market Trends

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• Blockchain Integration for Transparency: The integration of blockchain technology is gaining traction in cold chain logistics for enhanced transparency and traceability. Blockchain creates an immutable and secure record of each transaction and movement within the supply chain, reducing the risk of errors and fraud. Blockchain technology adds a layer of trust and accountability to the cold chain, helping stakeholders verify the authenticity of product information and compliance with temperature requirements. • Cross-Industry Collaboration: Collaborations and partnerships between different industries within the cold chain, such as logistics providers, manufacturers, and retailers, are becoming more prevalent. This collaborative approach helps optimize processes, share resources, and address common challenges. Cross-industry collaboration fosters innovation and efficiency, leading to a more resilient and interconnected cold chain logistics ecosystem. Sharing best practices and technologies benefits the entire supply chain. Covid-19 Impacts The COVID-19 crisis is creating uncertainty in the market by slowing down the logistics services, thus hampering business growth and increasing panic among the customer segments. The governments across different regions announced total lockdown and temporarily shut down of industries, leading to the border closures that restricted the movement of transportation & logistics services. The global business outlook has changed dramatically post COVID-19 health crisis. Moreover, the overall service activities of market players have declined owing to drastic fall of demand for cash usage to prevent the risk of contamination. As per current scenario, overall world is getting back on track slowly with the new restrictions and policies a significant recovery in product sales across the retail sector assert a positive influence on the cold chain logistics market to support the economic activities across all industries. The rising global demand for temperature-sensitive goods, coupled with advancements in technology and increasing regulatory requirements for product safety, is propelling the growth of Refrigerated Transport in the Cold Chain Logistics Market. Refrigerated transport is witnessing a significant upswing in the Cold Chain Logistics Market primarily due to the escalating global demand for temperature-sensitive products, such as perishable foods, pharmaceuticals, and biotechnological products. As the world becomes more interconnected, and trade barriers diminish, there is an increased need for the seamless transportation of goods across different regions while maintaining strict temperature control. The growth of international trade, especially in perishable and pharmaceutical sectors, necessitates advanced cold chain logistics solutions to ensure the preservation of product integrity and compliance with stringent regulatory standards. Moreover, technological advancements in refrigeration and telematics have enabled more precise and efficient temperature monitoring and control during transit, enhancing the overall reliability of refrigerated transport services. The heightened awareness of the importance of maintaining an unbroken cold chain to safeguard the quality and safety of products has further driven the adoption of refrigerated transport in the logistics industry. Additionally, regulatory bodies across the globe are imposing stricter guidelines on the transportation of temperature-sensitive goods, mandating compliance with specific temperature ranges and documentation standards. This has spurred the demand for sophisticated refrigerated transport solutions that not only meet these regulatory requirements but also offer transparency and traceability throughout the supply chain. Consequently, the growing convergence of global trade dynamics, technological innovations, and stringent regulatory frameworks is establishing refrigerated transport as a pivotal and expanding segment within the Cold Chain Logistics Market. The increasing focus on sustainable and cost-effective transportation solutions, coupled with the efficiency and reduced environmental impact of waterways transport, is driving its growth in the Cold Chain Logistics Market. The burgeoning growth of waterways transport in the Cold Chain Logistics Market can be attributed to a confluence of factors, with a primary driver being the growing emphasis on sustainable and cost-effective logistics solutions. Waterways transport, such as shipping and inland water transportation, offers a highly efficient and environmentally friendly alternative to traditional road and air transportation for cold chain logistics. As concerns about climate change and environmental sustainability intensify, businesses are increasingly seeking eco-friendly transportation options to align with their corporate social responsibility goals and reduce their carbon footprint. Water transportation is inherently more energy-efficient and emits fewer greenhouse gases compared to other modes of transportation, making it a preferred choice for companies aiming to mitigate their environmental impact. Moreover, the expansiveness of water routes and the ability to transport large volumes of goods make waterways transport a highly cost-effective option, particularly for long-distance and bulk transportation of temperature-sensitive goods. The reliability and consistency of temperature control in waterborne logistics, along with the capability to handle substantial cargo capacity, further enhance its appeal in the cold chain sector. The integration of modern technologies in maritime logistics, such as advanced monitoring systems and refrigeration capabilities, ensures the integrity of perishable products during transit. In essence, the growth of waterways transport in the Cold Chain Logistics Market mirrors a strategic shift towards sustainability and efficiency, as businesses recognize the economic and environmental benefits offered by this mode of transportation. The increasing demand for a wider variety of perishable goods, including pharmaceuticals, fresh produce, and specialty food items, is propelling the growth of chilled temperature storage and transportation in the Cold Chain Logistics Market. Chilled temperature storage and transportation are experiencing significant growth in the Cold Chain Logistics Market, primarily driven by the expanding consumer demand for a diverse range of perishable goods. The modern consumer landscape is characterized by an evolving taste for fresh, high-quality products, ranging from pharmaceuticals and healthcare-related items to an assortment of specialty foods and fresh produce. This surge in demand necessitates a sophisticated cold chain infrastructure capable of maintaining precise temperature control throughout the supply chain. Chilled temperature storage is vital for preserving the efficacy of pharmaceuticals and biotechnological products that are highly sensitive to temperature fluctuations. Additionally, the popularity of fresh and exotic food items has soared, prompting the need for seamless cold chain logistics solutions to ensure these perishable goods reach consumers with their quality and freshness intact. The expansion of e-commerce, coupled with changing consumer preferences for convenience and variety, further accentuates the importance of chilled temperature logistics in facilitating the timely and safe delivery of a diverse array of temperature-sensitive products. The growth in this sector is also bolstered by advancements in refrigeration technologies, allowing for more precise temperature management and monitoring, reducing the risk of spoilage or degradation during transportation and storage. In essence, the rise of chilled temperature logistics is intricately linked to the evolving consumer landscape and the heightened expectations for product quality and variety, underscoring its pivotal role in the Cold Chain Logistics Market. The increasing demand for enhanced temperature control and extended transit durations, especially in the pharmaceutical and healthcare sectors, is driving the growth of Eutectic Plates in the Cold Chain Logistics Market. Eutectic Plates are witnessing substantial growth within the Cold Chain Logistics Market, primarily fueled by the escalating need for advanced temperature control solutions, particularly in industries where product integrity is paramount. In sectors such as pharmaceuticals and healthcare, where many products are highly sensitive to temperature variations, maintaining a consistent and controlled environment during transportation is crucial. Eutectic Plates, which are phase-change materials designed to absorb and release heat at specific temperatures, offer an innovative solution for extending the duration of temperature stability in cold chain logistics. Unlike traditional cooling methods, such as gel packs or ice packs, eutectic plates can provide a more controlled and sustained release of energy, ensuring a stable temperature environment for a more extended period. This is especially valuable for pharmaceutical products that require strict temperature adherence throughout their journey to maintain efficacy. Additionally, the versatility of eutectic plates makes them suitable for various temperature-sensitive goods, including vaccines, biotechnological products, and certain food items. The adoption of eutectic plates is further accelerated by their ability to reduce reliance on active refrigeration systems, contributing to energy efficiency and cost-effectiveness in the cold chain logistics process. As the demand for extended transit durations and precise temperature control continues to grow, Eutectic Plates emerge as a crucial and innovative solution, addressing the evolving needs of industries where maintaining product quality is non-negotiable. The increasing global demand for fresh and high-quality fruits and vegetables, driven by changing consumer preferences, seasonal variations, and international trade, is fueling the growth of Cold Chain Logistics in this sector. The Cold Chain Logistics Market is experiencing robust growth in the transportation and storage of fruits and vegetables, a trend attributed to the evolving dynamics of consumer preferences and the expanding global trade in perishable goods. As consumers become more health-conscious and discerning in their food choices, there is a rising demand for fresh and high-quality fruits and vegetables throughout the year, regardless of seasonal variations. This demand is further amplified by the globalization of food supply chains and the increasing popularity of exotic and out-of-season produce. To meet these expectations, the cold chain infrastructure plays a pivotal role in ensuring that fruits and vegetables maintain their freshness, nutritional value, and visual appeal from the point of harvest to the end consumer. Cold Chain Logistics facilitates the transportation of these perishable goods in temperature-controlled environments, preventing premature ripening, decay, or loss of quality during transit. Additionally, as international trade in fruits and vegetables expands, maintaining a consistent and controlled temperature throughout the supply chain becomes essential to comply with various regulatory standards and to meet the stringent requirements of importers and retailers. The adoption of advanced refrigeration technologies, efficient logistics networks, and real-time monitoring systems ensures the integrity of fruits and vegetables, contributing to the growth and sustainability of the Cold Chain Logistics Market within this sector. In essence, the increasing focus on delivering fresh produce globally and the changing preferences of consumers are key drivers propelling the Cold Chain Logistics Market's growth in the transportation and storage of fruits and vegetables. The rapid growth of e-commerce and increasing demand for perishable goods drive the expansion of the Cold Chain Logistics Market in North America. The primary factor fueling the significant growth of the Cold Chain Logistics Market in North America is the dynamic landscape of e-commerce and the escalating consumer demand for perishable goods. With the widespread adoption of online shopping and the surge in the popularity of meal kit deliveries, pharmaceuticals, and fresh produce, there has been a substantial increase in the need for efficient and reliable cold chain logistics services. The intricate supply chain requirements for temperature-sensitive products necessitate advanced refrigeration and transportation systems to ensure the integrity and quality of these goods throughout the entire distribution process. As a result, companies operating in North America's Cold Chain Logistics Market are experiencing heightened demand for their services, creating opportunities for growth and expansion. This trend is further emphasized by the growing awareness of the importance of maintaining the cold chain for preserving the safety and efficacy of pharmaceuticals and ensuring the freshness of perishable food items, contributing to the robust and sustained development of the Cold Chain Logistics Market in the region. The global cold chain logistics market is experiencing continuous growth due to ongoing technological advancements and improvements in cold chain infrastructure worldwide. The market is witnessing a steady rise in research-related initiatives and investments by key players resulting in 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. The cold chain industry is highly competitive and companies are undertaking strategies such as mergers & acquisitions, expansions, and product developments to gain a competitive edge. For instance, in March 2023, Americold Logistics, Inc. announced the expansion of its facility in Spain. The expansion aimed to add 12,000 pallet positions and 11 loading bays in Barcelona, offering order preparation, storage, transportation, and value-added services across Europe. • 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. • In May 2023, Sonoco ThermoSafe announced a global partnership lease agreement with Cargolux, a Luxembourg-based cargo-only global airline. As per the agreement, Sonoco ThermoSafe will provide its Pegasus ULD passive temperature-controlled air freight shipping container via Cargolux’s selection of air freight pharma shipping services and solutions. The Pegasus is globally the first such container that is FAA and EASA-approved for pharmaceutical use. • In April 2023, UPS announced that it had acquired a majority stake in a cold chain logistics company called Inovatec. The acquisition will give UPS access to Inovatec's network of refrigerated warehouses in Europe and Asia. • In March 2023, FedEx announced that it had opened a new cold chain logistics facility in Memphis, Tennessee. The facility is designed to handle shipments of temperature-sensitive products, such as food and pharmaceuticals. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • UAE market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Class • Small UAVs • Tactical UAVs • Strategic UAVs • Combat UAVs By Type • Fixed Wing • Rotary Wing • Hybrid By Application • Military • Commercial • Government & Law • Consumer By Range • Visual Line Of Sight (VLOS) • Extended Visual Line Of Sight (EVLOS) • Beyond Visual Line Of Sight (BVLOS) • By Mode of Operation • Remotely Piloted • Optionally Piloted • Fully Autonomous By MTOW(Maximum TakeOff Weight) • <25 KG • 25-170 KG • >170 KG By System • Platform • Payload • Datalink • Ground Control Station • Launch & Recovery System The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the UAE industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.