The cold chain market is estimated to be valued at USD 189.92 billion in 2017 and is projected to reach a value of USD 271.30 billion by 2022. The primary factors driving the global success of cold chain is growth in international trade for perishable food products, expansion of food retail chains by multinationals, and government support for the infrastructural development of the cold chain industry. On the other hand, factors such as high energy and infrastructure costs are restraining the growth of the cold chain market.
Fruits & vegetables segment projected to grow at the highest rate
The fruits & vegetables segment is estimated to be the fastest growing market during the forecast period of 2017 to 2022. Frozen fruits & vegetables can be stored for a longer period of time with minimal wastage, owing to which this segment is projected to grow at the highest rate. Cold chain also plays a key role in the storage and transport of meat, fish & seafood as they require refrigeration immediately after slaughter, during processing, and during packaging.
Chilled segment projected to grow at the highest CAGR during the forecast period
The chilled segment, on the basis of temperature type, is estimated to be the fastest growing market during the forecast period. The chilled segment is expected to grow due to the wide usage of chilled temperatures for food preservation to extend the shelf life from a few days to a few weeks. Chilling provides effective short-term preservation of food products by retarding numerous microbial, physical, chemical, and bio-chemical reactions associated with food spoilage and deterioration.
according to a published report of "Cold Chain Market by Type, Temperature Type, Technology, Application, and Region - Global Forecast to 2022", By MarketsandMarkets
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