Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Cold chain equipment refers to chilling equipment used across the food & medical supply chain. This equipment is used to preserve the shelf life of products such as agricultural produce, seafood, meat, frozen food, pharmaceuticals, chemicals, and other medical products. The cold chain equipment consists of a wide collection of storage/transportation equipment such as vaccine carriers, cold boxes, ice packs, cool packs, refrigerators, refrigerator trucks & cars, reefer ships & containers, refrigerated warehouses, and others. With the availability of a wide range of products, cold chain equipment has permitted seamless transportation of perishable products for diverse applications.
The overall cold chain equipment market is mainly driven by the constant growth in the demand for frozen food across the world. In regions such as North America and Europe, frozen foods have been most popular requiring a vigorous transportation chain for supplies. Also, with the increasing trend of frozen food consumption across Asia Pacific countries, the overall cold chain equipment market has witnessed remarkable evolution over the past few years. With the steadily increasing population along with the change in food habits, the demand for frozen food is anticipated to remain strong in the subsequent years.
The exclusive COVID 19 impact analysis provides an analysis of micro and macro-economic factors on the Cold Chain equipment market. Also, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The epidemic has created an optimistic impact on the cold chain industry, ensuing in fueling the demand for cold chain warehousing. The growing adoption rate of packaged food & beverage products is a hopeful take for the growth of the cold chain in the food industry. The COVID-19 impacted the supply chain of every industry owing to restricted trade during the epidemic, resulting in food manufacturers highlighting not only the food products but also on their storage to upsurge their shelf-life, which is anticipated to propel the market for the cold chain.
The study analyzed the global Cold Chain equipment market based on the type, equipment, packaging, application, and geography.
Storage, transportation, and monitoring components are the types of cold chain equipment. The storage segment leads the cold chain equipment market by type. Owing to the growing preference for packaged food across the world. Changing dietary patterns and lifestyles of customers is driving demand for frozen food. This is projected to increase demand for storage solutions in the forecast period.
The major two types of equipment in the cold chain equipment market are storage equipment and transportation equipment. The storage equipment segment held the largest share in the market. This is attributed to the high demand for cold storage solutions to store raw, cooked, and processed food coming from the food plants.
The market finds the application in fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat, and seafood, processed food, pharmaceuticals, and bakery & confectionary. The processed food segment held a lion’s share in the market, owing to constant innovations in packaging materials. Developments in packaging materials increase the shelf life of foods. This has enlarged the trading of processed foods over the past few years.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific is leading the global Cold Chain equipment market. Owing to growing government investments in logistics infrastructure expansion and penetration of warehouse management systems.
The key competitor of the market includes U.S. Cooler, Polar King International, Inc., Kolpak, Hengel Industrie, Bry-Air, Blue Cold Refrigeration Pvt. Ltd., Everidge, Inc., Henry Schein, Inc., Modern Ice, Thermo Fisher Scientific, among others.
The study analyzed the global Cold Chain equipment market based on the type, equipment, packaging, application, and geography. Storage, transportation, and monitoring components are the types of cold chain equipment. The storage segment holds the largest share in the market. The major two types of equipment in the cold chain equipment market are storage equipment and transportation equipment. The storage equipment segment accounted for the largest share in the market. The market finds the application in fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat, and seafood, processed food, pharmaceuticals, and bakery & confectionary. The processed food segment accounted for a lion’s share of the market. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World.
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