The global cold chain market size is estimated to be valued at USD 233.8 billion in 2020 and projected to reach USD 340.3 billion by 2025, recording a CAGR of 7.8% during the forecast period. The demand for cold chain has been increasing significantly, as they bolster in increasing the shelf-life of the food & beverages by their storages at a required temperature. The rising awareness among the consumers to mitigate food wastage has become a crucial factor in boosting the use of cold chain.
Key players in the global cold chain market include Americold Logistics (US), Lineage Logistics Holdings (US), Nichirei Corporation (Japan), Burris Logistics (US), Agro Merchants Group (US), Kloosterboer (Netherlands), United States Cold Storage (US), Tippmann Group (US), VersaCold Logistics Services (Canada), Henningsen Cold Storage Co. (US), Coldman (India), Congebec Inc. (Canada), Conestoga Cold Storage (Canada), NewCold (Netherlands), Hanson Logistics (US), Confederation Freezers (Canada), Seafrigo (France), Trenton Cold Storage (Canada), Merchants Terminal Corporation (US), and Stockhabo (Belgium).
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Americold Logistics (US) is in the business of integrated temperature-controlled warehousing and logistics. The company caters to the food industry by offering the most comprehensive warehousing, transportation, and logistics solutions available. The warehouses of the company are an integral part of the supply chain as they connect the food producers, processors, distributors, and retailers to the end consumers. It offers various additional services, such as blast freezing, port facilities, and rail connected facilities. Americold operates in the industry with world-class services, facilities, and technology. The company has been highly oriented toward acquisitions to cater to the rising demand for cold chain. For instance, in January 2020, the company acquired Nova Cold Logistics (Canada). Nova Cold Logistics owns and operator three temperature-controlled storage facilities in Canada. This acquisition would help in expanding the company’s position in Canada. Canada has been a growing market with fragmented ownership of cold storage facilities.
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Lineage Logistics (US) is into the business of temperature-controlled supply chain and logistics. The company offers supply chain solutions and logistics services to leading food, retail and agriculture, and distribution companies. The cold chain solutions offered by the company include temperature-controlled public warehousing facilities for storing various food commodities. It provides cold storage warehousing, cargo handling, third-party facility management, on-site food processing, temperature-controlled logistics, transportation, and logistics consulting services. The company emphasized on launching new services to expand its business operations to cater to the demand for cold chain. For instance, in July 2019, the company launched a new truckload transportation service named ‘Lineage ON DEMAND.’ This new service guarantees 24/7 freight coverage for its customers. The company is committed to providing dynamic, high-impact solutions that deliver value to its customers.