An Ever-expanding Part of the Business

supply chain

As essential segments of the industry, the transport and logistics of frozen products have seen several changes in recent years, mostly due to the challenges brought up by unexpected events. This does assure a certain flexibility for the medium and long term, and any investments made are likely to pay dividends.

The global cold chain market was estimated at USD247.9bn in 2020 and is projected to reach a revised size of USD407.2bn by 2027, growing at a CAGR of 7.3% over the analysis period, according to a new report by Global Industry Analysts. Frozen, one of the segments analyzed in the report, is projected to record 7.6% CAGR and reach USD287bn by the end of the analysis period. Considering the ongoing post pandemic recovery, growth in the chilled segment is readjusted to a revised 6.8% CAGR for the next 7-year period. The North America cold chain market size reached USD67.1bn in 2022.

Looking forward, IMARC Group expects the market to reach USD104.1bn by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028. China, the world’s second largest economy, is forecast to reach a projected market size of USD71.4bn by the year 2027 trailing a CAGR of 6.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 5.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR.

Several Investments on the European Market

One of the top temperature-controlled storage companies in the UK, Magnavale, has added blast freezing solutions to its list of services at its Easton site. At its facilities in Chesterfield, Scunthorpe, Warrington, and now Easton, Magnavale now provides blast freezing. The provider of temperature-controlled storage thinks that by including the service in addition to its frozen storage options, it will give its present clients the chance to increase the effectiveness of their supply chains and lower total costs. 

With one of the greatest blast freezing capacities in the UK, Magnavale has been offering blast freezing solutions for more than 20 years. With its expanded service portfolio, Magnavale is enhancing national cold supply networks with the goal of reducing food waste and boosting supply chain efficiencies. Magnavale purchased the 44,000-pallet cold storage facility known as Magnavale Easton in September 2022 with the pledge to make improvements to the infrastructure and onsite services. Four months later, Magnavale has shown its dedication to the facility by stating that building on Phase 2 of the development has begun and that on-site services have been improved.

To read the entire article, please access your complimentary e-copy of Frozen Food Europe January-February, 2023 issue here.