Global cold chain market expected to surpass 11% CAGR through 2020
According to a recent TechSci Research report entitled Global Cold Chain Market Forecast & Opportunities, 2020, the global cold chain market is projected to have a compound annual growth rate (CAGR) of more than 11% during 2015-20.
The report reveals that the processed food industry and pharmaceutical industry are set to increase demand for cold chain services. Healthcare products such as vaccines, blood plasma products, frozen pharmaceutical drugs, and insulin require specific temperatures to be maintained throughout storage and transportation.
Consequently, on account of growing demand for healthcare products and services, demand for cold storage from healthcare sector has been witnessing a continuing increase, and the trend is expected to continue in coming years. Growing demand for frozen and processed food items such as meat, fish, frozen food products, and ready-to-eat meals is also propelling cold storage demand.
North America and Europe are the major revenue-generating regions for cold chain service providers, with North America holding a dominant share in global cold chain market. However, with rising demand for cold chain services among developing nations, especially India and China, the cold chain market in Asia-Pacific is expected to grow significantly over the forecast period.Global Cold Chain Market Forecast & Opportunities, 2020 has evaluated future growth potential of global cold chain market, and provides statistics and information on market structure, trends, and consumer behavior. The report includes cold chain market projections and demand forecasting. It is intended to provide cutting-edge market intelligence and help decisionmakers evaluate investments. The report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in the global cold chain market.
Access www.techsciresearch.com for complete details.