Maharashtra, India: The UK coldchain logistics market, valued at £3.64bn ($4.55bn) in 2018, is expected to grow by 23.6% to reach £19.48bn ($24.37bn) by 2026, according to a report by Premium Market Insights.
The report, Cold Chain Logistics Market, published by Premium Market Insights, says that meat, fish and sea food accounted for the highest share in 2018 and is anticipated to exhibit remarkable growth rate during the forecast period.
The report provides an overview of coldchain logistics detailing market segmentation by type, annotation type, end-user, and geography.
The global coldchain market, valued at $218bn in 2020 is expected to grom by 8% to reach $320.2bn by 2025, according to a report by Florida, USA based VynZ Research.
“The increasing demand for processed food and increasing need for its preservation, increasing demand for the temperature control system to avoid health hazards, increasing penetration of e-commerce in food and beverage industry are the key factors leading to the growth in the cold chain market, globally,” the report says.
Other factors encouraging growth are increasing penetration of e-commerce in food and beverage industry and increasing foreign direct investment inflow in the developing economies of Asia-Pacific.
“Consumer inclination towards convenience foods with least amount of chemical preservatives use further supports the demand for refrigeration in the supply chain for storage and transport purpose,” the report says.
“Asia-Pacific accounted for the major share in the cold chain industry in 2019, globally due to the increasing foreign direct investment inflow in the emerging economies such as India, Vietnam and Indonesia. The large population base, increasing urbanization, increasing demand for processed food are other key factors leading to the largest share of the region.
