Technavios global refrigerated transportation market research report forecasts the market to grow at a CAGR of almost 7% during the forecast period.
The introduction of blockchain technology in transportation services will be one of the major global refrigerated transportation market trends during 2018-2022. The implementation of blockchain technology in the global trade logistics assists in reducing errors and streamlining operations such as transportation management, procurement, customs collaboration, track and trace, and trade finances among the different stakeholders in the supply chain. Several cold chain logistics and retail companies are employing blockchain technology to improve efficiency and data security in the supply chain.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key global refrigerated transportation market drivers is the growing demand for frozen and perishable food:
Global refrigerated transportation market: Growing demand for frozen and perishable food
In countries such as the US, the UK, Germany, China, India, Australia, Japan, Brazil, and Canada, factors such as the increasing disposable incomes, changing consumption patterns, and rapid urbanization have been driving the demand for frozen and perishable food products. For instance, in China, there has been an increase in the consumption of meat and dairy products due to the increasing disposable income. As meat and dairy products have a lower shelf life, they must be transported under controlled temperatures. This will drive the global refrigerated transportation market growth during the forecast period.
According to a senior analyst at Technavio for research on transportation and distribution, The frozen food market is expected to record a CAGR of 6.54% during the forecast period. As the chemical composition of frozen foods should remain intact until the recommended period of consumption, an effective refrigerated transportation and warehousing system is essential. Thus, the rising demand for frozen food will drive the global refrigerated transportation market growth during the forecast period.
Global refrigerated transportation market: Segmentation analysis
The global refrigerated transportation market analysis report provides market segmentation by mode of transportation (land, waterways, and airways), by end-user (food and beverages industry and healthcare industry), and by region (the Americas, APAC, and EMEA). This refrigerated transportation market forecast provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the food and beverages industry held the largest refrigerated transportation market share in 2017, contributing to almost 57% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 37% share. It was followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
Looking for more information on this market? Request a free sample report
Technavios sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavios report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at [email protected].