In the last few years, demand for reefer freight, often known as chilled transportation, has grown significantly. Additionally, investments notably following the 2008 slump soared in the cold chain business. The worldwide cold chain market has grown.The demand for chilled food has significantly expanded around the globe. The reasons driving demand in the worldwide cold chain market include changing lifestyles, growing corporate cultures, and a high need for items that are convenient. One of the main drivers of the expansion of the cold chain is the need to better protect perishable goods, such as food and pharmaceuticals, medical equipment, and chemicals that must be transported quickly and safely.
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Cold chain involves proper logistic planning of temperature sensitive products through thermal and refrigerated packaging methods. The application of cold chain is mainly applied to chilled and frozen foods to increase their self-life and maintain quality standard for long duration of time.
Cold chain specifically helps in maintaining the bio-chemical and physical properties of the frozen foods and regulating market price in off-season. It also helps to prevent the product from loss and reduce the waste, which ultimately increases the overall income of manufacturer or producer.
After economic slowdown in 2010, many big players increased the investment on frozen food industry, which leads to directly impacted overall cold chain market. Use of cold chain involves in many industries such as fruits & vegetables, bakery, confectionery, dairy, frozen desserts, fish, meat and frozen seafood. In order to maintain these food fresh for long run, there need a proper cold chain logistics system. This leads to helps in the growth of cold chain market across the globe.
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The global cold chain market is growing with a high potential. North America is the largest market for cold chain. The growth in demand of frozen chilled and frozen foods in western counties triggered the cold chain market in North America. Increasing demand of daily products, vegetables and fruits heading towards more export form one reason to another.
This has also led to boost the cold chain market. Various initiatives taken by the government affect the cold chain market in Asia Pacific region. Indian government has decided to open mega food parks, which require temperature controlled vehicles and temperature-controlled warehouses.
Government also allowed 100% FDI in cold chain industry. This leads boost to cold chain market in Asia Pacific. . In Europe, Germany is one of the largest markets due to the increased consumption of frozen foods.
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