A new report by Zion Market Research titled, “Cold Chain Equipment Market (Storage and Transport) for Meat, Fish & Seafood, Dairy & Frozen Desserts, Vegetables & Fruits, Bakery & Confectionary and Others End-Uses: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014–2020,” predicts global demand for cold chain equipment market valued at $67.0 billion in 2014 is expected to reach $118 billion in 2020 at a CAGR of 9.8 percent between 2015 and 2020.
The cold chain is an unbroken supply chain that exclusively serves storage and distribution facilities with a temperature-controlled range to extend and to help ensure the shelf life of food and beverage products, as well as vaccines, drugs and chemicals. Cold chain equipment is a vital entity of the supply chain to ensure the safety, efficiency or quality of the products distributed/transported.
Based on an end-uses segment, the global cold chain equipment market was dominated by the meat, fish and seafood segment in 2014, accounting for more than 35 percent of revenue generated. It is expected to remain on top because of the robust demand for meat, fish and seafood on the global basis. Moreover, dairy and frozen dessert is another important outlet that is expected to witness the significant growth in near future.
Read more predictions from the Zion Market Research report here.