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The frozen food cold chains market size is estimated to grow at a CAGR of 17.36% between 2022 and 2027. The market size is forecast to increase by USD 214.02 billion. This frozen food cold chains market report extensively covers market segmentation by type (refrigerated warehouse and refrigerated transportation), product (frozen meat fish, and seafood, frozen fruits and vegetables, frozen ready meals, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
One of the key factors driving the frozen food cold chain market growth is the growing demand for convenience food. There is an increasing preference for ready-to-eat (RTE) meals among consumers due to their hectic lifestyle and it can significantly reduce the cooking time for food and the clean-up time. The main factor which is considered by market players offering frozen food is convenience to attract consumers as they are consistently seeking convenience when opting for packaged food products. Additionally, several factors such as advancements in refrigeration techniques, an increasing number of single-person and small households, and the growing number of working women are fuelling the growth of the market. Hence, such factors are expected to drive market growth during the forecast period.
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A key factor shaping the frozen food cold chain market growth is the rapid penetration of e-commerce boosting market growth. There is rapid growth in e-commerce business across the world due to the growing internet penetration. Additionally, the growth of online shopping is fuelled by several factors such as an increase in demand for convenient shopping, ease of searching for products, and attractive deals and special offers on frozen food products.
Moreover, e-commerce platforms have opened new avenues for several market players in the frozen food industry to boost their sales, increase their geographic presence, and enhance customer satisfaction and vendor profitability. Thus, e-commerce platforms are positively impacting the market. Hence, such factors are expected to drive market growth during the forecast period.
Health risks associated with the consumption of frozen food are one of the key challenges hindering the frozen food cold chain market growth. It is essential to process and store frozen foods at low temperatures to avoid spoilage and increase their shelf life. Frozen food manufacturers are often a potential alternative for low-cost foods containing healthy ingredients.
However, daily consumption of frozen foods can lead to diseases such as kidney disease, diabetes, dementia, and obesity as well as increases the chances for high blood pressure and other chronic health problems. Furthermore, these food items are rich in fat and sodium which can negatively impact the consumer's health. Hence, such factors are hindering the market growth during the forecast period.
The expansion of market players offering frozen meat fish and seafood segments will increase the market growth during the forecast period. One of the best methods to preserve animal-based food products including meat and poultry is freezing. There are several nutritional benefits of consuming frozen meat and poultry products as they are good sources of nutrients such as vitamin B12, zinc, iron, fats, and proteins. Thus the increasing demand for protein-rich products can fuel the demand for this segment among consumers. Additionally, there is an increasing focus on expansion by different market players by opening new production facilities. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
The refrigerated warehouse segment is estimated to witness significant growth during the forecast period. A refrigerated warehouse can be referred to as a cold storage facility where temperature-controlled products, including meat, dairy products, and pharmaceutical products, are stored to prevent them from spoiling. There is a rising demand for refrigerated warehouses and transportation facilities due to an increase in the import and export of temperature-sensitive food products. Thus, as there is an increase in demand for refrigerated transportation, it fuels the demand for value-added services such as product consolidation in warehousing and repackaging operations.
The refrigerated warehouse segment was the largest segment and was valued at USD 53.12 billion in 2017.
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Some of the main types of refrigerated warehouses include blast chillers and freezers and dedicated custom cold storage facilities. A refrigerated warehouse comprises temperature-adjustable rooms, which help in managing the temperature as per the type of product being stored. For example, there is extensive use of these kinds of warehouses by enterprises as a drying room for food preservation applications to control the moisture content in food products. Thus there is increasing adoption of cold storage across several manufacturing facilities due to the rising need to preserve food products and reduce food wastage. Hence, such factors are expected to fuel the growth of this s segment which in turn will drive the market growth during the forecast period.
North America is estimated to contribute 34% to the growth of the global market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors which are significantly contributing to the growth of the frozen food cold chain market in North America is due to the rise in the import and export of perishable products and an increase in online grocery sales. Additionally, there is increasing reliability on imports of fruits and vegetables, particularly products such as asparagus and avocados in some countries in North America such as the US.
Additionally, there is a significant expansion of refrigerated warehouses near or in ports as well as at border crossings and chief trade gateways in North America, due to the factors such as the import of exotic fruits and vegetables, coupled with the growing consumption of meat and poultry. Furthermore, the increasing demand for refrigerated warehouses is also incentivizing several market players in the regional market to expand their cold storage capacities in different regions in North America. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global frozen food cold chains market witnessed a significant slowdown due to the restrictions on the movement of people, which increased the consumption of home-cooked food in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of several commercial and developmental activities, both online and offline channels. Such factors are expected to drive the market during the forecast period.
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.
The frozen food cold chains market 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 frozen food cold chains market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Frozen Food Cold Chains Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.36% |
Market growth 2023-2027 |
USD 214.02 billion |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
16.34 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Americold Realty Trust Inc., Burris Logistics Co., Celcius Logistics Solutions Pvt. Ltd., ColdEX Ltd., Coldman Logistics Pvt. Ltd., Conestoga Cold Storage, Congebec Logistics Inc., DSV AS, Interstate Cold Storage Inc., Kraftverkehr Nagel SE and Co. KG, Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Nichirei Corp., Penske Corp., Seafrigo Group, Stockhabo, Trenton Cold Storage, VersaCold Logistics Services, and Tippmann Group |
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. |
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. |
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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 Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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