Cold Chain Logistics Market Size, Share, Growth Analysis, By Product(Mechanical & Cryogenic Refrigeration Systems, Reefers), By Application(Food & Beverages, Medical Goods) - Industry Forecast 2024-2031

Cold Chain Logistics Market size was valued at USD 280.25 Billion in 2022 and is expected to grow from USD 323.97 Billion in 2023 to reach USD 1033.16 Billion by 2031, at a CAGR of 15.60% during the forecast period (2024-2031). 

The market's top service providers are always updating their technology to stay ahead of the competition and to guarantee effectiveness, integrity, and safety. To increase efficiency with smaller shipments, vendors have implemented HACCP and RFID technology. To offer consumers more services, they are also expanding their fleet of multi-compartment refrigerated vehicles. 'AmeriCold Logistics LLC (United States)', 'Lineage Logistics Holdings, LLC (United States)', 'Nichirei Corporation (Japan)', 'Swire Group (China)', 'Burris Logistics (United States)', 'United Parcel Service, Inc. (United States)', 'DHL International GmbH (Germany)', 'FedEx Corporation (United States)', 'AGRO Merchants Group (United States)', 'Kloosterboer (Netherlands)', 'Americold Realty Trust (United States)', 'XPO Logistics, Inc. (United States)', 'Preferred Freezer Services, LLC (United States)', 'VersaCold Logistics Services (Canada)', 'MSC Mediterranean Shipping Company S.A. (Switzerland)', 'C.H. Robinson Worldwide, Inc. (United States)', 'NewCold Advanced Cold Logistics (Netherlands)', 'SSI SCHAEFER (Germany)', 'Interstate Cold Storage, Inc. (United States)', 'Kloosterboer Group (Netherlands)', 'Henningsen Cold Storage Co. (United States)', 'Agro Merchants Group, LLC (United States)'

There is a growing demand for perishable goods such as food and pharmaceuticals worldwide. Consumers are seeking fresh and high-quality products, which require proper temperature control throughout the supply chain. This demand for perishable goods is driving the need for efficient cold chain logistics.

Increasing Demand for Fresh and Perishable Food : There is a growing consumer preference for fresh and organic food products, which has led to an increase in the demand for cold chain logistics services. Consumers are seeking high-quality food items with longer shelf life and better nutritional value, driving the need for efficient temperature-controlled transportation and storage.

North America holds the largest market share in the cold chain logistics market and is expected to grow at a CAGR of 15.56% during the forecast period. The region, particularly Canada and the United States, is experiencing rapid growth due to factors such as increasing urbanization, a rising demand for organic food, and a shift towards healthier dietary lifestyles. Canada, with its significant fishing zones, is expected to contribute to the growth of the cold chain logistics market. The United States, on the other hand, benefits from a stringent regulatory environment and a growing demand for packaged food. The rapid growth of e-commerce in the United States, particularly for grocery and perishable goods delivery, has led to increased outsourcing of cold storage and transportation to third-party service providers, further fueling the market.