International. The global cold chain market was valued at US$97,835.5 million in 2013, and is expected to reach US$233,476.7 million in 2019, at a compound annual growth rate (CAGR) of 15.6% from 2014 to 2019.
According to the study published by MarketsandMarkets, North America is the largest market for the cold chain due to increased exports and imports of perishable goods, government, and partnership initiatives that support export growth and technological advancements.
The Asia-Pacific region has huge market potential due to the need to reduce food losses. There is government support for the development of cold chains, and an increase in disposable income, changing tastes and preferences and urbanization; all this increases the consumption of perishable foods, such as frozen and refrigerated foods.
All parameters of growth in individual segments were considered in the report. The dairy and frozen dessert segment is the fastest growing in perishable foods. It is forecast to grow due to increased demand in the Europe and Asia-Pacific region.
Fruits and vegetables and fish, meat and seafood are also forecast to grow at a considerable rate, due to the growing need to preserve nutrient content and reduce the deterioration of fruits and vegetables, rapid urbanization and increasing purchasing power in emerging countries. In North America and Europe more and more consumers are becoming health conscious, therefore increasing consumption of perishable foods.
