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(MoneyNewsWire.Net, April 03, 2018 ) The North America Cold Chain Market was worth USD 54.46 billion in 2016 and expected to be growing at a CAGR of 6.8%, to reach USD 75.67 billion by 2021. Temperature controlled supply chains are labelled as Cold Chains. Cold Chains are a necessity in the cases which involve the transport and storage of perishable commodities like dairy, fresh foods and vegetables, bakery products, meat etc.
Cold Chains are required to safeguard and prolong the shelf life of the above mentioned perishable goods. These goods are kept in refrigeration and are always in transit and hence are termed as Cool Cargo. A continuous series of refrigerated storage, supply and storage facilities is referred to as an Unbroken Cold Chain.
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The North America Cold Chain market sustained by the growing demand from consumers for goods involving cold supply chains like dairy products, fresh vegetables and fruits, etc. and properly established cold supply chains Further, the rapid growth in international trade of perishable foods, technological progress in refrigerated transport and storage, infrastructure development support by the government and the upsurge in enlargement of food retail chains by MNCs are the major driving factors for the growth of the North America Cold Chain Market. High quality verification criterions set by governmental organizations and the associated costs of temperature management equipment are the constraints faced by the market.
The North America Cold Chain market is segmented by ingredient type, beverage type and geography. By the ingredients type, the market is classified into yeasts, enzymes, colorants, salts and flavours and others. Yeast can be additionally categorized into bottom-fermenting and top-fermenting. By beverage type, the market is separated into beer, spirits, wine, whiskey, brandy, others. Further categorisation of spirits includes vodka, rum, scotch, gin, tequila and others. Spirits are accounting for a major part of market growth in recent times.
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The North America market has been geographically segmented into segmented into US and Canada. As of 2015, North America faces a slight saturation in the market because of high development in the supply chains and also because of developed storage and transport facilities already existing in this region. This has led to a decrease in the relative market share but it continues to grow at a high CAGR. North America comes in second in terms of market share in the Cold Chains Market worldwide.
Some key players in the market are Americold Logistics (U.S.), Preferred Freezer Services (U.S.), Burris Logistics (U.S.), Lineage Logistics Holding LLC (U.S.), and Nichirei Logistics Group Inc. (Japan).
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