Cold Chain Market size is set to grow by USD 441.18 bn from 2024-2028, use of RFID in cold chain logistics boost the market-

The global cold chain market size is estimated to grow by USD 441.18 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 18.04% during the forecast period. The cold chain market manages the transport and logistics of perishable goods like food (vegetables, fruits, fish, dairy) and pharmaceuticals (blood, drugs, organs, vaccines).

Regulatory compliance is paramount, with efficient storage and transportation vital to maintain quality and extend shelf life. Monitoring temperature ranges (chilled, frozen) ensures product integrity. Technology like RFID tracking aids decision-making. End-user focus lies in food & beverages and pharmaceuticals. Market growth may be influenced by substitutes for perishable products.

In developing countries like India, the penetration of cold chains is limited due to high fixed costs. End-users, particularly farmers, avoid cold storage as it increases product costs and prices, affecting profitability. Compliance with regulations for perishable food products is essential, but substitutes like traditional storage methods persist. End-users are concentrated in rural areas, making storage, transportation, and packaging challenges. Cold chains offer temperature ranges (chilled, frozen, deep-frozen) for food & beverages and pharmaceuticals, extending shelf life. Technological developments in monitoring components and transportation are crucial to improving cold chain adoption. Key challenges include insufficient technical knowledge and transportation facilities.

The North American region dominates the global cold chain market, driven by the surge in protein-rich food imports and online grocery sales. IT spending on advanced technologies like cloud computing, IoT, RFID, and data analytics is crucial for effective inventory management and temperature control of temperature-sensitive products. Regulations and warehouse management systems are essential for ensuring compliance and efficiency. Market concentration is high, with strategic partnerships and mergers and acquisitions shaping the industry landscape. Characteristics of the North American cold chain market include advanced IT infrastructure, stringent regulations, and a focus on optimizing cold storage logistics.