Cold Chain Logistics Market worth USD 496.5 billion by 2027
The Market Statsville Group (MSG) publishes the new report on the "Cold Chain Logistics Market by Product (Mechanical & Cryogenic Refrigeration Systems, Reefers, Cold Chain Transport Monitoring Equipment, and Packaging Materia), by Application (Food & Beverages, Medical Goods, Temperature-sensitive Chemicals, and Others), by Region – Global Share and Forecast to 2027". By 2027, The global cold chain logistics market size is expected to grow USD 496.5 billion from USD 207 billion in 2020, at a CAGR of 15.7% during the forecast period. The global pharmaceutical chain logistics industry is vast and complex. Furthermore, the cold chain logistics industry needs synchronized handling procedures, precise transport equipment, and high regulatory compliance. Moreover, there is a rising demand for drugs that help combat a growing number of chronic and lifestyle-related diseases.
Then there’s the mounting pressure for Over-the-Counter medicines such as minerals, cough cold drugs, and gastrointestinal and dermatology products, and vitamins. And the pharmaceutical industry is a rising challenge by providing an ever-wider array of pharmaceuticals, many of them requiring temperature-controlled transportation under proper cold chain management.
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Global Cold Chain Logistics Market Segmentation
The overall cold chain logistics market has been segmented into the product, application, and region.
By Product (Mechanical & Cryogenic Refrigeration Systems, Reefers, Cold Chain Transport Monitoring Equipment, and Packaging Materia)
By Application (Food & Beverages, Medical Goods, Temperature-sensitive Chemicals, and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
By application, Food & beverages are estimated