Pune, India: The food cold chain market for food alone is set to grow 8.6% by 2033 says a report by Brainy Insights. It cites rising demand for frozen goods as a key driver.
The Brainy Insights report estimates that the market valued at $264.3bn in 2023 will reach $555.3bn by 2033. Asia Pacific is anticipated to expand at the fastest, growing 14.9% over the projection period in response to demand from consumers in the Asia-Pacific area for fresh and better quality food. The need for a strong food cold chain has grown as consumer preferences and lifestyles change, moving toward convenience and a wider variety of food options.
Additionally, a variety of agricultural and seafood products, including fruits, vegetables, meat, and seafood, are produced in the region. The fruits and vegetables segment is anticipated to expand at 13.7% over the projection period.
In the food, the frozen segment is anticipated to expand at 13.1% over the projection period. Online deliveries are anticipated to expand by 15.4% meeting demand for more specialised products.
