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North America Cold Chain Market to Grow at a CAGR of 9.5% During 2021-2026, Aided by the Rising Demand for Perishable Food Items

According to a new report by EMR titled, ‘North America Cold Chain Market Report and Forecast 2021-2026’, the cold chain market size in North America was USD 89 billion in 2020. The industry is further expected to grow at a CAGR of 9.5% in the forecast period of 2021-2026 to attain a value of USD 153.6 billion by 2026.

The cold chain market in North America is being driven by the rising demand for perishable food items, including meat and seafood, and processed food in the region. Another factor that is expected to aid the market growth over the forecast period is the growing demand for cold chain logistics from the health care sector and the thriving e-commerce industry. The increase in the number of clinical trials and the growing production of temperature-sensitive healthcare products, particularly in the United States, is expected to boost the industry growth. Based on temperature, the chilled cold chain segment dominates the industry, accounting for most of the market share. Some of the major players in the industry include Americold Logistics and Lineage Logistics Holding, LLC.

The growing consumer disposable incomes and rising population are driving the demand for perishable products, which, in turn, is supporting the growth of the cold chain market in North America. In April 2020, Americold Logistics announced that the company had acquired Cloverleaf Cold Storage in a bid to expand its capacity by adding 132 million cubic feet of storage space in 22 facilities, thus, aiming to fulfill the growing demand for cold chain services in the region and enhance its market share in the United States.

Moreover, e-commerce is also driving the demand for cold storage space. The growth of online grocery sales, particularly in the United States, is generating increased demand for cold storage facilities in North America. In October 2020, Amazon (NASDAQ: AMZN) announced that the company would start offering free two-hour grocery delivery to its Amazon Prime members, which could dramatically impact the demand for cold storage facilities in the region. Such developments are expected to aid the growth of the cold chain market in North America over the forecast period.

Market Breakup by Service Type, Temperature, End Use, and Country:

  • By service type, the North America cold chain industry can be bifurcated into refrigerated storage and refrigerated transport.
  • Based on temperature, the industry can be segmented into chilled and frozen.
  • On the basis of end use, the industry is divided into meat and seafood, dairy and frozen products, fruits and vegetables, bakery and confectionery, and pharmaceuticals, among others. 
  • Region-wise, the cold chain market in North America can be divided into the United States of America and Canada.

Key Findings of the Report:

  • The cold chain market in North America is being driven by the growing consumption of processed food and meat and seafood in the region. 
  • The growing popularity of organic food products, which demands cold storage facilities, is also aiding the industry growth.
  • The increased production of temperature sensitive healthcare products and growth in the number of clinical trials being conducted in the region are providing further impetus to the industry. 
  • The growing consumer demand for healthy and fresh food due to the growing health awareness and the rising consumer disposable incomes are providing a further boost to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the cold chain market in North America for the periods (2016-2020) and (2021-2026). 
  • The report offers historical (2016-2020) and forecast (2021-2026) market information for the service types, temperatures, end uses, and major regions for cold chain in North America.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the North America cold chain market are Americold Logistics, Lineage Logistics Holding, LLC, United States Cold Storage Inc., and VersaCold Logistics Services, 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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