The Latest Cold Chain Industry Statistics Explained
The global cold chain market size was valued at $167.24 billion in 2019.
The statistic “The global cold chain market size was valued at $167.24 billion in 2019” indicates the total monetary value of goods and services related to temperature-controlled storage and transportation worldwide in that particular year. The cold chain market plays a critical role in preserving perishable products such as food, pharmaceuticals, and chemicals by maintaining a specific temperature range throughout the supply chain. The significant size of the market suggests a growing demand for cold chain logistics and infrastructure to ensure the quality and safety of temperature-sensitive products as they are transported and stored across different regions globally.
The cold chain industry is projected to reach $447.50 billion in revenue by 2027.
The statistic “The cold chain industry is projected to reach $447.50 billion in revenue by 2027” indicates a significant growth trajectory in the sector involved in the storage and transportation of temperature-sensitive products such as pharmaceuticals, food, and chemicals. This forecasted revenue represents the estimated total financial earnings generated by the cold chain industry as it continues to expand and meet the increasing demand for reliable and efficient cold storage and transportation services. The anticipated revenue growth suggests a robust market outlook for cold chain logistics, driven by various factors including advancements in technology, globalization of supply chains, increasing consumer demand for perishable goods, and regulatory requirements for maintaining product integrity and safety.
The cold chain sector has grown at a CAGR of 15% in the last five years.
This statistic indicates that the cold chain sector, which involves the storage and transportation of temperature-sensitive products such as pharmaceuticals and perishable goods, has experienced significant growth over the past five years. The Compound Annual Growth Rate (CAGR) of 15% suggests a consistent and steady increase in the sector’s market size and economic output year over year during this period. This growth rate reflects the increasing demand for enhanced logistics and storage capabilities to maintain product quality and safety in industries where temperature control is critical. Overall, the statistic demonstrates a positive trend in the cold chain industry and highlights its importance in modern supply chain management.
Approximately 95% of all vaccinations globally require the usage of cold chain technology for effective storage.
This statistic indicates that the vast majority of vaccinations worldwide, about 95%, rely on cold chain technology to ensure their effectiveness during storage and distribution. Cold chain technology involves maintaining specific temperature controls throughout the vaccine’s journey to preserve its potency and quality. This strict temperature regulation is essential for preventing the degradation of vaccines and ensuring that they remain safe and efficacious. The high percentage of vaccinations that require cold chain technology underscores the critical role it plays in the successful delivery of vaccines and the protection of global public health.
More than 80% of cold chain logistics spending comes from the food industry.
The statistic that more than 80% of cold chain logistics spending comes from the food industry highlights the significant reliance of the food sector on efficient temperature-controlled storage and transportation of goods. Cold chain logistics play a crucial role in maintaining the quality and safety of perishable food products, ensuring they reach consumers in optimal condition. The high proportion of spending from the food industry indicates the importance placed on maintaining the integrity of goods throughout the supply chain to prevent spoilage and ensure compliance with strict food safety regulations. Given the perishable nature of food products, it is essential for the industry to invest in robust cold chain logistics to minimize food wastage, maintain product quality, and meet consumer expectations for fresh and safe food items.
The Asia Pacific region contributes about 40% of the global cold chain market.
This statistic indicates that the Asia Pacific region plays a significant role in the global cold chain market, accounting for approximately 40% of the total market share. The cold chain market involves the storage, transportation, and distribution of temperature-sensitive products such as food, pharmaceuticals, and chemicals. The substantial contribution from the Asia Pacific region suggests a high demand for cold chain services in this area, possibly driven by factors such as rapid economic growth, increasing consumer demand for perishable goods, and a growing focus on food safety and quality. This statistic highlights the region’s importance in the global cold chain industry and emphasizes the potential for continued growth and development in this market segment.
The digital transformation in cold chains is expected to save up to $150 billion annually by 2025.
The statistic highlights the potential financial impact of implementing digital transformation technologies in cold chain operations. Cold chains are crucial for maintaining the quality and safety of perishable goods such as food and pharmaceuticals. By incorporating digital solutions such as IoT-enabled monitoring systems, data analytics, and automation, companies can improve efficiency, reduce waste, and enhance transparency within the cold chain process. The projected savings of up to $150 billion annually by 2025 reflect the significant cost benefits and operational improvements that digital transformation can bring to cold chain management, paving the way for a more sustainable and profitable industry.
The global cold chain RFID market is expected to grow to $6.2 billion by 2023.
This statistic indicates that the global cold chain RFID (Radio Frequency Identification) market is projected to experience significant growth, reaching a market value of $6.2 billion by the year 2023. Cold chain RFID technology involves the use of electronic tags to track and monitor temperature-sensitive products as they move through the supply chain, particularly in industries such as pharmaceuticals, food, and healthcare. The anticipated growth in this market is driven by increasing demand for efficient and reliable temperature-sensitive product monitoring and the benefits of RFID technology in improving supply chain visibility, quality control, and compliance with regulatory standards. This statistic suggests a strong market potential for cold chain RFID solutions, reflecting the increasing importance of maintaining product quality and safety within the supply chain.
Frozen food logistics is anticipated to account for over 30% of the cold chain market by 2026.
The statistic indicating that frozen food logistics is expected to make up more than 30% of the cold chain market by 2026 suggests a significant growth and prominence of the frozen food sector within the overall cold chain industry. The cold chain market encompasses the transportation and storage of temperature-sensitive goods to maintain their quality and integrity. The anticipated increase in the share of frozen food logistics within this market likely reflects a rising demand for frozen food products, driven by factors such as changing consumer preferences, increasing urbanization, and the expanding global trade of perishable goods. This statistic underscores the importance of efficient and reliable logistics practices in supporting the growing frozen food industry and highlights the need for investment and innovation in cold chain infrastructure to meet the projected market demands by 2026.
Artificial Intelligence (AI) is expected to grow at a CAGR of more than 45% in the cold chain industry by 2025.
The statistic implies that Artificial Intelligence (AI) is projected to experience a Compound Annual Growth Rate (CAGR) of over 45% in the cold chain industry by the year 2025. This suggests a rapid and substantial increase in the adoption and integration of AI technology within the cold chain industry, which encompasses the storage and transportation of temperature-sensitive goods such as food and pharmaceuticals. The significant CAGR indicates a strong positive trend, reflecting the potential benefits that AI can offer in optimizing processes, enhancing efficiency, ensuring quality control, and improving overall performance within the cold chain sector. This growth rate underscores the growing recognition of AI as a valuable tool for innovation and competitive advantage in the industry.
The global cold chain monitoring market is expected to reach $8.2 billion by 2026.
The statistic indicates that the global cold chain monitoring market is projected to experience significant growth and reach a value of $8.2 billion by the year 2026. This suggests an increasing demand for cold chain monitoring solutions, which are essential for maintaining the integrity and safety of temperature-sensitive products during storage and transportation. Factors driving this growth may include the expanding pharmaceutical and healthcare industries, as well as the rising adoption of advanced technologies to ensure the quality and compliance of goods throughout the supply chain. The forecasted market value indicates the potential opportunities and investments available within the cold chain monitoring sector in the coming years.
Over 50% of the cold chain logistics market is controlled by the top five international cold chain logistics providers.
The statistic indicates that a significant portion of the cold chain logistics market is dominated by the top five international cold chain logistics providers, collectively accounting for over half of the market share. This level of control suggests a high level of concentration in the industry, where a small number of companies have a strong influence on market dynamics and competition. Such concentration can impact pricing, service quality, and innovation within the cold chain logistics sector, potentially limiting choices for customers and creating barriers to entry for new or smaller players in the market. Understanding the dominance of these key players is essential for stakeholders in the industry to navigate the competitive landscape effectively and make informed business decisions.
The global cold chain market growth rate from 2019 to 2023 stands at 11.17%.
The statistic indicating that the global cold chain market is projected to experience a growth rate of 11.17% from 2019 to 2023 implies a steady and significant expansion in the industry over the specified period. This growth rate suggests that the demand for cold chain logistics services, which are essential for maintaining the integrity and quality of temperature-sensitive products during storage and transportation, is expected to increase substantially worldwide. Factors driving this growth could include the rising emphasis on food safety and quality standards, the globalization of supply chains, and the expanding pharmaceutical and healthcare sectors. As a result, businesses operating in the cold chain market are likely to see opportunities for expansion, investment, and technological innovation to meet the growing demand for efficient cold storage and logistics services.
The cold chain industry spending in pharmaceuticals is projected to exceed $170 billion by 2026.
The statistic stating that the cold chain industry spending in pharmaceuticals is projected to exceed $170 billion by 2026 indicates a significant growth and investment in the infrastructure and logistics involved in maintaining the temperature-controlled supply chain for pharmaceutical products. This includes the transportation, storage, and distribution of temperature-sensitive drugs and vaccines to ensure their efficacy and integrity throughout the supply chain. The projected increase in spending highlights the growing importance of maintaining the quality and safety of pharmaceutical products, especially with the rise in demand for biologics and personalized medicine requiring strict temperature controls. This substantial investment in the cold chain industry reflects the crucial role it plays in the pharmaceutical sector and the emphasis on ensuring the highest standards of product quality and patient safety.
The meat and seafood sector contributes 35% of the cold chain market revenue.
This statistic indicates that the meat and seafood sector is a significant contributor to the overall revenue of the cold chain market, accounting for 35% of the total market revenue. The cold chain market refers to the system of transporting and storing perishable goods such as food and pharmaceuticals at controlled temperatures to maintain their quality and safety. The high contribution of the meat and seafood sector suggests that there is a strong demand for temperature-sensitive products within this industry, leading to the need for efficient cold chain logistics and infrastructure. This statistic highlights the importance of the meat and seafood sector within the cold chain market and underscores its impact on the overall market dynamics.
An estimated 20% of the world’s vaccines get damaged during transportation because of inefficient cold chain systems.
This statistic indicates that approximately 20% of all vaccines distributed worldwide are subjected to damage due to ineffective cold chain systems during transportation. The cold chain system ensures that vaccines are stored and transported at the correct temperature to maintain their efficacy. When this system fails, vaccines become damaged, which can compromise their integrity and effectiveness. This statistic highlights the significant impact that transportation challenges can have on global vaccination efforts, potentially resulting in wasted resources and decreased immunization coverage rates. Addressing these inefficiencies in the cold chain system is crucial to ensuring the safe and effective delivery of vaccines to populations in need.
The global cold chain monitoring market was valued at $3.8 billion in 2020.
The statistic “The global cold chain monitoring market was valued at $3.8 billion in 2020” indicates the total market size in terms of revenue for monitoring products and services used to track and manage temperature-sensitive goods throughout the cold chain process. This includes industries such as food and beverage, pharmaceuticals, and healthcare that rely on maintaining specific temperature conditions during transportation and storage to ensure product quality and safety. The $3.8 billion figure reflects the economic importance and growth potential of the cold chain monitoring market, driven by factors such as increasing demand for perishable goods, technological advancements in monitoring solutions, and growing regulatory requirements for product quality and safety.
By 2030, India’s cold chain industry is likely to reach $37 billion.
The statistic indicates that the cold chain industry in India is projected to experience significant growth, with an estimated value of $37 billion by the year 2030. The cold chain industry plays a critical role in preserving and transporting temperature-sensitive products such as food, pharmaceuticals, and chemicals. The projected growth suggests an increasing demand for cold storage facilities, refrigerated transportation, and other related services in India over the next decade. This development could be driven by factors such as rapid urbanization, expanding food retail markets, technological advancements, and a growing focus on food safety and quality. The statistic highlights the potential for substantial economic opportunities and investment prospects within the cold chain sector in India.
The pharmaceutical segment in the cold chain logistics market size is expected to reach over $13 billion by 2026.
This statistic indicates that the pharmaceutical segment within the cold chain logistics market is forecasted to achieve significant growth, with a projected market size exceeding $13 billion by the year 2026. The cold chain logistics industry is crucial for the transportation and storage of temperature-sensitive products like pharmaceuticals, vaccines, and biologics to maintain their integrity and efficacy. The anticipated growth in the pharmaceutical segment reflects increasing demand for global healthcare solutions, advancements in biopharmaceutical products, and stricter regulations regarding the safe handling of medical supplies. This projection suggests a strong market opportunity for players involved in cold chain logistics services tailored to the pharmaceutical industry, highlighting a growing need for specialized temperature-controlled transportation and storage solutions.
An estimated 75% of all pharmaceuticals sold globally require a cold chain.
This statistic indicates that a substantial portion, specifically 75%, of pharmaceutical products sold worldwide are classified as temperature-sensitive and thus require cold chain management in order to maintain their efficacy and safety. A cold chain is a system of transporting and storing products within a specific temperature range to ensure their quality from production to distribution to consumption. The high percentage of pharmaceuticals needing a cold chain highlights the importance of proper temperature control in the logistics and supply chain processes of the pharmaceutical industry to guarantee the effectiveness and integrity of these essential products.
References
0. – https://www.www.mordorintelligence.com
1. – https://www.www.gminsights.com
2. – https://www.www.bizvibe.com
3. – https://www.www.prnewswire.com
4. – https://www.www.supplychaindive.com
5. – https://www.www.healthcarepackaging.com
6. – https://www.www.technavio.com
7. – https://www.www.emerald.com
8. – https://www.www.ijltet.org
9. – https://www.www.nature.com
10. – https://www.www.fortunebusinessinsights.com
11. – https://www.www.business-standard.com
12. – https://www.www.marketsandmarkets.com
