Dublin, Ireland: The United Kingdom’s cold chain logistics market is set to grow 8.16% by 2029 according to a new report by Research and Markets.
The report, United Kingdom Cold Chain Logistics – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 – 2029 says that fresh food, pharmaceuticals, and e-commerce are expected to drive significant market growth by 2029.
“The UK’s focus on enhancing its cold chain logistics infrastructure to meet the surge in demand for fresh food, pharmaceuticals, and e-commerce is expected to drive significant market growth by 2029. An estimated Compound Annual Growth Rate of 8.16% is projected during the forecast period, signaling robust industry performance ahead,” the researcher says.
“The rise of global commerce and a heightened emphasis on sustainable operations are shaping the UK cold chain logistics sector. Furthermore, the influence of e-commerce continues to bolster the need for specialised cold chain solutions nationwide.
“In light of increasing scrutiny on food provenance and safety, UK supermarkets are engaging more directly with producers. This strategic shift demands an advanced logistics framework capable of supporting stringent quality and supply requirements. ”
The unfolding scenarios of post-Brexit trade arrangements highlight the necessity for enhanced refrigerated transportation to sustain the UK’s food and pharmaceutical industries amidst new global trade patterns. ”The Covid-19 pandemic has underscored the need for resilient cold chain logistics to navigate market uncertainties and maintain service continuity. In the face of past disruptions, the sector is primed for a reaffirmation of its operational competence and capacity.”
“Given the substantial expenditure in the pharmaceutical sector and the storage-sensitive nature of medicinal products, the UK’s cold chain logistics industry is witnessing increased demand from this thriving vertical.
”With an expansive growth forecast, the UK cold chain logistics industry is set to witness considerable enterprise from both domestic and international players, with an added impetus following the nation’s departure from the European Union.”
The expectation is high for the UK cold chain logistics market as it gears up to tackle burgeoning demands, navigate the post-Brexit atmosphere, and capitalise on the upward trend in the pharmaceutical sector. The progression of this industry is poised to redefine the standards and capabilities of the cold chain logistics sphere across the United Kingdom.
