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  • Writer's pictureIQF World

Goodbye 2020 and Hello 2021 - 2025

According to Research and Markets, the Global food cold chain market is projected to grow at a CAGR of 8.79% during the forecast period (2020 - 2025).

The perishability of food and its wastages has been a mounting concern that starts from raw material procurement to showcasing end products on the retail shelf. Noticeable changes in ambient temperature resulting from climate changes have an alarming effect on the cold chain infrastructure, thus, the increasing need for resilient cold chain solutions is the need of the hour.

North America Holds the Largest Market Share

The seasonality, time-temperature variation, and road accessibility ( year-round) are some factors enhancing the demand for food cold chains in the North American market. Moreover, the consumers in the market shifting from highly processed and unhealthy foods with long shelf lives to temperature-sensitive, perishable food products is creating momentum for a cold supply chain with enhanced technology in the market.

Further, the US import of fruit and vegetable is comparatively higher than the export, and according to USDA, the US imports of fresh/frozen fruit totaled USD 15.06 billion, up 8% compared with 2018. The rapid growth in the industry is triggering the logistics company to expand its cold chain network. Moreover, cold warehousing space is rising in the pandemic, as consumer shifts to e-commerce and online grocery purchases have accelerated this trend.

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