The global cold chain market for fruits, vegetables, bakery, confectionery, dairy, meat and frozen desserts is expected to reach USD271,9bn by 2020, according to a new report by Zion Research.
According to the report, the global cold chain market was valued at USD110,20bn in 2014 and is expected to grow at a compound annual growth rate of 13,9% between 2015 and 2020. In terms of value, the global cold chain market stood at 552.09m cubic meters in 2014.
Titled “Cold Chain Market (Chilled and Frozen): Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020, the report attributes part of the expected growth to the rapid evolution on the frozen food segment, which is expected to drive cold chain market in the years to come. However, high cost of real estate and energy are expected to produce significant challenge for the growth of this industry.
“Fruits & vegetables, bakery & confectionery, dairy & frozen desserts, meat, fish & seafood and others (including sauces, condiments, salad dressings, and dips) are key end-users industries of cold chain market. Meat, fish & seafood dominated the global cold chain market with around 45% share of the total market in 2014 and the growing import-export of meat, fish and seafood is expected to fuel growth of cold chains. Dairy & frozen desserts and fruits & vegetables are other important end-user segments of the cold chain industry having significant market share,” says Zion Research.
