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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:
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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.
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