Cold Chain Market in Europe to grow by USD 76.8 Billion (2024-2028), driven by RFID adoption in logistics

The cold chain market in europe size is estimated to grow by USD 76.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.5% during the forecast period. Use of RFID in cold chain logistics is driving market growth, with a trend towards use of iot with cold chain. However, fluctuating fuel prices poses a challenge.

he European cold chain market encompasses the integration of IoT technology into transport equipment for temperature-sensitive goods, including chronic and lifestyle-related diseases, pharmaceutical drugs, high-value active ingredients, and perishable items such as fruits, vegetables, dairy products, meat, marine products, and convenience foods. This market prioritizes temperature control, monitoring, and supply chain process optimization, adhering to regulation compliance and risk management in the agriculture sector and urban population's changing consumption habits. Cold chain systems aim for cost optimization through investment in land acquisition, building construction, permissions and licensing, utilities, cooling machinery, and maintenance. Technological advances and reliable solutions address operational and technical constraints.

The European cold chain market encompasses temperature-controlled logistics for perishable products, including healthcare, food and beverage items, and fresh agricultural produce. Regulations mandate assured freshness, palatability, and specific temperature ranges for chilled, frozen, and deep-frozen goods. Cold-insulated transport vehicles and temperature-controlled warehouses ensure product distribution and shelf life, while cost-effective operations and supply chain efficiency are crucial. Volatility in Brent crude oil prices impacts fuel costs for refrigeration units and transportation vehicles, influencing the overall market landscape.