According to a new market research report published by Credence Research “Cold Chain Equipment Market (Equipment Type – Storage Equipment & Transportation Equipment; End-user – Meat & Seafood, Vegetables & Fruits, Dairy Products, Bakery & Confectionery, Medical and Others (Spices, Chemicals etc.)) – Growth, Future Prospects and Competitive Analysis, 2017 - 2025”, the global cold chain equipment market to expand with a CAGR of 5.8% from 2017 to 2025.
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Cold chain equipment refer to refrigeration equipment used across the food & medical supply chain. These equipment are used to preserve the shelf life of products such as agricultural produce, meat, seafood, frozen food, chemicals, pharmaceuticals and other medical products. The cold chain equipment includes a wide array of storage/transportation equipment such as vaccine carriers, ice packs, cold boxes, cool packs, refrigerators, refrigerator trucks & cars, reefer ships & containers, refrigerated warehouses and several others. With the availability of wide range of products, cold chain equipment have enabled seamless transportation of perishable products for different applications.
Some of the major players (providing cold chain service and equipment) profiled in the report are AmeriCold Logistics, LLC, Lineage Logistics, LLC, Burris Logistics, Claus Sorensen, Preferred Freezer Services, Inc., Swire Cold Storage, Oxford Logistics Group, JBT FoodTech, ColdEX Logistics Pvt. Ltd., Cloverleaf Cold Storage and others.
On the basis of end-user, the global cold chain equipment market is segmented into following categories:
- Meat, Fish & Seafood
- Vegetable & Fruits
- Bakery & Confectionery
- Dairy Products
- Others (Spices, Chemicals etc.)
Their contribution to the global cold chain equipment market in 2016 is as shown in the figure below:
As of 2016, the overall cold chain equipment market is led by the meat, fish and seafood segment. The segment accounted for nearly 40% of the total market revenue generated worldwide. Meat & seafood are the most commonly consumed food products requiring refrigerated storage and supply chain. Due to higher demand for these products as compared to other products, the segment is projected to retain its dominant position in the market throughout the forecast period.
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Apart from meat & seafood, dairy products too forms a major segment in the overall cold chain equipment. Similar to meat & seafood, dairy products perish quickly and hence are required to stored and transported in refrigerated environment. Being among the important daily consumables, dairy products segment too is projected to maintain its promising position in the market throughout the following years.
Based on the geography, the global cold chain equipment market is segmented as per following regions and countries:
- North America
- Rest of Europe
- Asia Pacific
- South Asia
- Rest of Asia Pacific
- Rest of the World (RoW)
- Middle East & Africa (MEA)
- Latin America
As of 2016, the overall cold chain equipment market worldwide is led collectively by North America and Europe regions. Frozen foods including meat & seafood, bakery products and dairy products are highly popular across the regions. Due to high inclination towards consuming frozen foods in the regions, cold chain equipment have witnessed remarkable penetration over the period of time. In addition, presence of significant number of companies is another major factor supporting the market growth.
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