Cold Chain Equipment Market Size

Cold Chain Equipment Market Size

Cold Chain Equipment Market was valued at around USD 14 billion in 2023 and is anticipated to register a CAGR of over 20.2% between 2024 and 2032. The market growth can be attributed to the trade liberalization, expansion of retail chains, and focus on decreasing food chain. The emergence of the cold chain is also believed to be largely due to consumer desire for ready-to-eat food items that need to be maintained in a temperature-controlled environment. Producers of temperature-sensitive items are heavily utilizing the cold chain supply system due to the rapid advancement of technology, which is expected to drive the market for cold chain equipment to grow.

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The cold chain industry is expected to grow as a result of the shift in emerging countries' diets toward higher protein foods in recent years. The market for cold chain equipment will grow as a result of the increased need for refrigerated vehicles to deliver perishable food items. Entire supply chain plans are needed to achieve the long-term growth of the world's food processing sector. Several warehouses outfitted with cold chain systems are being built to offer the best possible conditions for the storage and transportation of items that are sensitive to temperature.
 

Pharmaceutical packaging and temperature monitoring in cold chain storage still present certain difficulties, such as contamination, breakage, and poor temperature control. This is supported by the observation that, in certain nations, over 80% of medications are thought to lose their efficacy as a result of poor packaging and inadequate temperature control during cold chain transportation.  Moreover, a number of unforeseen difficulties, like equipment failure and prolonged exposure to heat, could cause the cold chain to break. As a result, industry participants have been actively working on developing hybrid solutions to get around these problems. These solutions, which offer a possible substitute for traditional packing methods, use temperature data loggers integrated into insulated containers or cold chain shippers to track pharmaceutical shipments more effectively and with greater visibility.