A report by Allied Market Research found that the global cold chain logistics market is expected to reach $585.10 billion by 2027, growing at a CAGR of close to 18% over the next six years.
“Increase in refrigerated warehouses, adoption of automated software, and growth of processed food industry and pharmaceutical sector have boosted the growth of the global cold chain logistics market. However, dearth of standardization and high operational costs hamper the market growth. On the contrary, advent of RFID technology is expected to open lucrative opportunities for the market players in the future,” says Lalit Katare, a research analyst, automotive and transportation at Allied Market Research.
- The market across LAMEA is anticipated to register the highest CAGR of 22.0% during the forecast period. However, the market across Asia-Pacific is estimated to hold the lion’s share during the forecast period.
- The dairy & frozen desserts segment is expected to manifest the highest CAGR of 20.7% during the forecast period. However, the meat fish & seafood segment is anticipated to maintain its dominance through 2027.