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Cold Chain Logistics Market in APAC to Reach $162.65 Bn, by 2026 at 13.2% CAGR: Allied Market Research
Based on business type, the cold storage segment held the largest market share in 2018, contributing nearly three-fourths of the total revenue, and is expected to continue its dominance during the forecast period. This is due to rise in demand for food and pharmaceuticals products. Contrarily, the cold chain transport is estimated to grow at the highest CAGR of 16.2% from 2019 to 2026, owing to rise in demand from the processed foods sector and surge in need of effective cold chain transportation.
Based on end use, the meat, fish, & sea food segment accounted for nearly one-third of the total market share in 2018, and is estimated to continue its leadership position throughout the forecast period. This is due to significant rise in consumption annually. However, the dairy & frozen desserts segment would grow at the highest CAGR of 16.7% from 2019 to 2026. This is attributed to growth in the retail market and rapid surge in demand for frozen food.
Based on country, Japan accounted for the highest market share in 2018, accounting for more than one-tenth of the total market share. This region is expected to maintain its lead status throughout the forecast period. This is due to growing pharmaceutical sector in the region. Moreover, Vietnam is expected to register the largest CAGR of 22.4% from 2019 to 2026, owing to considerable growth of the processed food sector.
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