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The North America cold chain logistics market size is estimated to grow at a CAGR of 12.12% between 2022 and 2027. The market size is forecast to increase by USD 68.03 billion. The growth of the market depends on several such as the increased adoption of sustainable initiatives, the use of RFID in cold chain logistics, and the need to comply with regulations regarding storage.
This North America cold chain logistics market report extensively covers market segmentation by end-user (meat and seafood, fruits and vegetables, dairy and frozen dessert, bakery and confectionery, and others), type (refrigerated warehouse and refrigerated transportation), and geography (North America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased adoption of sustainable initiatives is notably driving market growth. Reefer trucks are a growing source of vehicular pollution in North America. Nevertheless, shippers and manufacturers also have concerns about other pollution sources, such as recyclable units and secondary pollution sources from transportation, packaging, and cold storage. Cold chain logistics companies and shippers are primarily looking for technologically advanced or innovative ways to balance the energy needs of perishable products while lowering resource consumption. In recent times, cold chain logistics are switching to electric vehicles, particularly when perishable goods need to be transported a short distance.
Consequently, the economic and environmental advantages are propelling companies to adopt sustainable initiatives. Further, manufacturers and cold chain companies of warehouses have been using technologies such as evaporative condensers controlled by the VFD, upgraded heat exchangers and insulations, and thermostat evaporator coils cooled with VFD-controlled fans. Such factors are expected to drive market growth in the region during the forecast period.
The introduction of blockchain technology in the logistics industry is an emerging trend shaping the market growth. Various stakeholders maintain identical logistics copies on multiple computer-controlled systems using blockchain technology which is a digital platform that provides distributed transaction ledgers. In addition, the blockchain technology system uses a thread of cryptographically guarded data and details of transactions for all stakeholders in the supply chain. In the logistics industry, the acceptance of blockchain technology has been growing steadily.
However, the introduction of blockchain technology in rural clinics and other healthcare logistics is anticipated to streamline, automate, and create transparency in the sharing of immutable records. Therefore, the benefits of blockchain technology are desired to simplify the logistics management process for companies, thereby fueling the growth of the market during the forecast period.
Fluctuating fuel prices is a significant challenge hindering market growth. The cold chain logistics providers use fuels such as petrol and diesel for transportation. These fuels are used for driving transportation vehicles, as well as for powering the refrigeration equipment in most vehicles. The fuel is used by the main traction engine, which, in turn, generates power to run an electric motor in the refrigeration unit. Medium to large vehicles typically use self-contained diesel engines for this purpose.
However, the prices of petrol and diesel, which are extracted from Brent crude oil, have been fluctuating due to an imbalance in demand and supply. These fluctuations have a direct impact on the prices of petrol and diesel, which can affect the profitability of vendors. As a result, the cold chain logistics market in North America may experience negative growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
North America Cold Chain Logistics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Americold Realty Trust Inc. - The company offers cold chain logistic solutions that provide comprehensive temperature-controlled storage and advanced technology services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The meat and seafood segment is estimated to witness significant growth during the forecast period. Meat and seafood packaging and the intelligent assessment and monitoring of critical parameters are not only important technologies to ensure the quality and safety of meat, but also they form the foundation for the optimization of packaging materials and the optimization of cold chain logistics.
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The meat and seafood segment was the largest segment and was valued at USD 12.00 billion in 2017. Because of the high percentage of the meat-eating population in this region, the complexity of the global meat and seafood supply chain is affected. About 89% of Americans include meat in their diets. A combination of control and management solutions for the cold chain have been developed, including chilled storage and frozen storage solutions; superchilling; ionizing radiation; biopsies; high hydrostatic pressure (HHP); active packaging; and wireless sensors, all of which are supported by the Software-Based Cold Chain Database (CCD). Consequently, the heightened demand for cold chain logistics in the region and seafood users will boost the growth of the market during the forecast period.
Based on the type, the market has been segmented into refrigerated warehouses and refrigerated transportation. The refrigerated segment will account for the largest share of this segment. A refrigerated warehouse is a facility designed to store temperature-sensitive products such as meat and dairy products to prevent spoilage. The warehouse is equipped with adjustable temperature rooms, allowing for precise temperature management according to the type of product stored. These warehouses can also be utilized as drying rooms to control moisture levels in food products. They are generally airtight, which protects food from external temperature and weather changes. Due to the increasing need to preserve food products and reduce food wastage, many food producers are now opting for cold storage services. These features are expected to have a positive impact on the growth of the cold chain logistics market in North America during the forecast period.
The North America cold chain logistics market report forecasts market growth by revenue and analyses the latest trends and growth opportunities from 2017 to 2027.
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North America Cold Chain Logistics Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.12% |
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Market growth 2023-2027 |
USD 68.03 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
11.5 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Americold Realty Trust Inc., ArcBest Corp., Burris Logistics Co., C H Robinson Worldwide Inc., Conestoga Cold Storage, Deutsche Bahn AG, Deutsche Post AG, Expeditors International of Washington Inc., FedEx Corp., J B Hunt Transport Services Inc., KLLM Transportation Services, Lineage Logistics Holdings LLC, NewCold Cooperatief UA, NFI Industries Inc., Prime Inc., Tippmann Group, Total Quality Logistics LLC, XPO Inc., COVENANT LOGISTICS GROUP INC., and MARTEN TRANSPORT LTD. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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