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The Europe - Cold Chain Market size is estimated to grow at a CAGR of 10.67% between 2022 and 2027. The market size is forecast to increase by USD 57.56 billion. The growth of the market depends on several factors such as the use of RFID in cold chain logistics, the increasing number of trade corridors and the increase in pharmaceutical supply through e-commerce.
This Europe cold chain market report extensively covers market segmentation by type (refrigerated warehouse and refrigerated transportation), application (meat fish and seafood, fruits vegetables and beverages, dairy and frozen desserts, bakery and confectionery, and healthcare), and geography (U.K., Germany, France, Rest of Europe) 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.
The use of RFID in cold chain logistics is notably driving the market growth. Globally, Cold chain logistics transfer millions of tons of perishable, temperature-sensitive products that are produced, stored and transported. Such products can be vegetables, fruits, fish, flowers, meat, dairy products, and medical products such as blood, drugs, organs, vaccines, plasma, and tissues. These products are highly sensitive to changes in temperature, which affects their quality. Without opening the package, RFID devices are capable of providing more accurate readings than current temperature monitoring systems. Such RFID devices are placed in cold storage transport vehicles, which allows enterprises to monitor the environment temperature on the go, based on which the temperature inside the vehicle can be controlled and managed efficiently.
In addition, RFID tags gather a broad range of information, including moisture, light, radiation, shock/vibration, and gas concentrations. Enterprises can scrutinise this data to take crucial steps regarding quality control and efficient distribution of products. Therefore, the use of RFID in cold chain logistics tracking and tracing will help enterprises enhance logistics operations and keep track of the products which may have a positive impact on the Europe-cold chain market. Such factors are anticipated to fuel the growth of the cold chain market in Europe during the forecast period.
The use of IoT with cold chains is an emerging trend shaping the market growth. The Internet of Things is an innovative aspect that combines physical objects that can be accessed through the Internet. As it can help businesses enhance product performance through IoT security and IoT analytics to provide more satisfactory results. IoT is incorporated into the cold chain to transform the effectiveness and efficiency of supply chains of products such as fruits, meat, and medicines. Enterprises can connect flawlessly at every step of their logistics process by integrating IoT solutions in the cold chain, thus enabling a cost-effective benefit.
Moreover, such technology can help enterprises such as restaurant owners and other food businesses monitor the temperature of food storage facilities accurately. This, in turn, can support them in providing proper food safety procedures. Some enterprises are offering IoT solutions that can be embedded with a cold chain due to the growing benefits of IoT with the cold chain. Such factors are anticipated to fuel the growth of the cold chain market in Europe during the forecast period.
Fluctuating fuel prices is a significant challenge hindering market growth. For transportation, old-chain logistics providers use fuels such as petrol and diesel. Such fuels are used for propelling the transportation vehicle, as well as for powering the refrigeration equipment in most vehicles. This fuel is operated by the main traction engine, which, in turn, generates power to run an electric motor in the refrigeration unit. Especially, medium to large vehicles use self-contained refrigeration units, which consist of a self-contained diesel engine. Such engines are generally used to transport refrigeration equipment in vehicles.
However, due to the imbalance in its demand and supply, there has been significant fluctuation in the prices of Brent crude oil, from which petrol and diesel are extracted. Consequently, the fluctuating prices of Brent crude oil will lead to fluctuation in the prices of petrol and diesel, which will impact the profitability of vendors and have an adverse impact on the Europe-cold chain market. Thus, the volatility in crude oil prices influences petrol and diesel prices, which will remain a major threat to the cold chain market in Europe 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.
Europe Cold Chain 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.
Baltic Logistic Solutions - The company offers services such as Cargo transportation, including cargo transportation in the baltic states, partial loads, small cargo transportation, cargo transportation of refrigerators, and international shipments.
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 refrigerated warehouse segment is estimated to witness significant growth during the forecast period. A refrigerated warehouse refers to a cold storage facility where temperature-controlled products, such as meat, dairy products, and pharmaceutical products are stored to prevent them from decaying. There is a growing demand for refrigerated warehouses and transportation facilities as the import and export of temperature-sensitive products are increasing.
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The refrigerated warehouse segment was the largest segment and was valued at USD 40.13 billion in 2017. The refrigerated warehouse comprises temperature-adjustable rooms, which support managing the temperature according to the type of product being stored. For instance, enterprises use these warehouses as a drying room for food preservation applications to control the moisture content in food products. Numerous food producers are opting for cold storage services with the rising need to preserve food products and lower food wastage. As a result, there is an increased demand for refrigerated warehouses. Consequently, it is promoting companies to develop their storage facilities by venturing into M&A activities with regional cold storage service providers. These factors are expected to boost the growth of the refrigerated warehouse segment in the cold chain market in Europe during the forecast period.
Based on application, the market has been segmented into meat fish and seafood, fruits vegetables and beverages, dairy and frozen desserts, bakery and confectionery, and healthcare. The meat fish and seafood will account for the largest share of this segment.?The meat, fish, and seafood segment is the largest in the Europe-cold chain market and is expected to remain so during the forecast period. Different types of products such as fresh meat, processed meat, and frozen meat, require different transportation guidelines. Processed meat products can be either fresh or frozen depending on the type of meat marketed by the company. Consumption of seafood is increasing due to the rise in aquaculture, and Europe is the largest importer of seafood. Countries like the UK, Germany, France, Italy, and the Netherlands are the largest consumers of canned fish. Therefore, the growing demand for meat and seafood will increase the need for refrigerated warehouses and transportation facilities, which is expected to drive the segment in the market growth during the forecast period.
The cold chain market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Europe Cold Chain Market Scope |
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Report Coverage |
Details |
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Page number |
140 |
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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 10.67% |
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Market growth 2023-2027 |
USD 57.56 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
10.24 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abu Dhabi Ports PJSC, AP Moller Maersk AS, Arbon Equipment Corp., Baltic Logistic Solutions, Beno-Trans GmbH, Blue Water Shipping AS, Deutsche Post AG, DSV AS, FRIGO Coldstore Logistics GmbH and Co. KG, Gartner, Kraftverkehr Nagel SE and Co. KG, Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, MSC Mediterranean Shipping Co. SA, NewCold Cooperatief UA, NORDFROST GmbH and Co. KG., Pacific Logistics Group., Pfenning Logistics, SNCF Group, and WILMS Transport GmbH |
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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 Type
7 Market Segmentation by Application
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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