Providers of cold chain services, who reportedly rang up international sales of $75,565 million in 2011, are expected to more than double revenues to $157,142.2 million by 2017. That is equivalent to a compound annual growth rate (CAGR) of 13.2% from 2012 to 2017.
So says “Cold Chain Market – Global Trends & Forecasts to 2017,” a 224-page report from MarketsandMarkets, a market research and consulting company headquartered in Dallas, Texas. The publication features more than 100 market data tables and figures within 224 pages, along with details about a number of major public refrigerated warehouse networks. Among the operators profiled are Swire Cold Storage Pty. Ltd. (Australia), Americold Logistics (USA), Northern Logistic Property (Sweden) and Preferred Freezer Services (USA).
The report focuses on 3PL service providers by types (storage and transport), product categories (frozen and chilled), applications and geography. It also identifies driving and restraining factors in the industry, highlighting trends, opportunities, issues, imperatives and challenges.
The market is segmented and revenue streams are predicted for regions around the world. North America, which accounted for 40% of the total cold chain market’s revenue in 2011, is expected to grow at a CAGR of 12% from 2012 to 2017. Europe generated 30% of total revenues, and is forecast to grow at a CAGR of 10.8% from 2012 to 2017. Asia-Pacific is expected to expand at the fastest CAGR of 17% during the same period, accounting for 22% of the total cold chain market.
The transportation of frozen and chilled foods has increasingly become a necessity in the modern world, with cold chains following rapid economic and political change. The logistics of frozen food transport continues to improve as fruits, vegetables, seafoods, meats, dairy products and baked goods are safely and efficiently moved from points of production to places of consumption.
The demand for frozen food is increasing in many markets across the globe. The proliferation of multinational manufacturers and retailers in emerging markets such as Asia-Pacific and Latin America, as well as the changing tastes of consumers, is having a positive affect on the cold chain industry.
More information about the report is available by logging on to the following website: www.marketsandmarkets.com/Market-Reports/cold-chains-frozen-food-market-811.html