The growth of the food and beverages industry in both developing and developed countries is expected to aid the growth of the market for food logistics in the forecast period. The market is witnessing robust growth in the Asia Pacific region. This could be attributed to the rising industrialisation, increasing domestic consumption, and evolving dietary practices in the region. The surging demand for premium foods, such as meat and dairy, is also catalysing the industry growth as it requires cold chain supply service in food logistics. Moreover, increasing digitisation in countries such as China, India, and South Korea and the growth of online grocery platforms, such as Alibaba, Big Basket, and Coupang, respectively, are anticipated to boost the market. The market is also witnessing significant growth in North America and Europe. The industry is driven by the increasing demand for foreign food products and evolving technological advancements.
The leading players of the market are constantly transforming and fastening their supply chains in order to ensure better service. Matson Logistics (NYSE: MATX), one of the key players in the food logistics industry, has done various mergers and acquisitions to increase its service. In July 2016, the company announced that it is going to acquire Span Alaska to expand its platform and focus on customer service and reliability. Also, in March 2020, the company announced that it is going to be merged with Blume Global to increase visibility and optimise utilisation for intermodal containers. It enables it to improve user experience and results in enhanced inventory management, demand fulfilment, tracking and execution, customised reporting, and financial services. Moreover, it facilitates collaboration between multiple asset owners and classes, further aiding the market growth.
Market Analysis by Segment, Product, Transportation Mode, Service Type, and Region:
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The major players in the global market for food logistics are AmeriCold Logistics LLC, Dachser Group SE & Co. KG, AJC International, Inc, CJ Logistics Corporation, C.H. Robinson Worldwide, Inc., Matson, Inc., and Hellmann Worldwide Logistics SE & Co. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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