Cibi e Bevande
Global Food Cold Chain Market to Reach $275.31 Billion by 2024
The food and beverage industry is a rapidly growing multi-billion-dollar industry which is majorly driven by the increasing population. Innovations in terms of technology in the food industry are driving the increasing use of digitalization in its supply chain. As per the United Nations, food production needs to grow more than 70% by 2050 to meet the demand of 9.7 billion individuals by the end of 2050. This growth in the food and beverage industry is supported by several challenges driven by the changing global trends. Globalization, requirement for safety and regulation, as well as lack of efficiency, are increasingly affecting the supply chain management of the food industry. Moreover, new and emerging technologies are being introduced to design, optimize, and manage the food supply chain.
Food loss is one of the common problems across the globe, owing to increasing post-harvest loss across the supply chain. As a measure to overcome the problem, agricultural value chains of the leading nations across the globe are developing suitable cold chain systems.
Since there is a direct relation between food safety and cold chain, a proper cold chain infrastructure may help farmers, processors, and distributors get an easy access to the high-end markets, so that they can meet the set standards and receive good amount of money for the same.
Using the right type of supply chain infrastructure could address a long list of food loss and food waste issues across the globe therefore, deploying and using more advanced level of cold chain solutions could help in reducing the food loss and significantly improve and extend the shelf life of the products.
Some of the prominent players in the food cold chain market are Lineage Logistics LLC, Americold Logistics Inc., VersaCold Logistic Services, AGRO Merchants Group, Cloverleaf Cold Storage, Burris Logistics, Penske Logistics, and Nichirei Logistics. Since 2016, majority of the companies preferred entering into mergers and acquisitions to enhance their presence, while the relatively less adopted strategies comprised partnerships, collaborations, and joint ventures.
For instance, in April 2019 , Americold Logistics acquired Cloverleaf Cold Storage to boost its market share in the U.S. with an addition of 132 million cubic feet of storage space in 22 facilities. Earlier, in January 2019 , Americold Logistics acquired Portfresh Holdings, LLC, a leading temperature-controlled operator, to expand their business operations.
This report is a meticulous compilation of research on more than 100 players in the food cold chain ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 20+ leading companies across the supply chain.
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