Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Cold chain logistics include the storage and distribution of temperature sensitive products from production to consumption. The procedure helps in maintaining the quality, efficacy, and shelf-life of the goods. In the Asia Pacific region, refrigerated transport and warehouse have increased immense preference, on account of the growing contract manufacturing of various pharmaceuticals in several countries, along with the rising demand for perishable food items.
The Asia-Pacific cold chain logistics market trends are projected to experience substantial growth during the forecast period. Factors such as rise in number of refrigerated warehouses and development of the pharmaceutical sector are anticipated to drive the growth of the Asia-Pacific cold chain logistics trend. Furthermore, growth in treated food sector is expected to boost the market expansion. Though, factors such as lack of standardization relating to operating procedures, temperature, pest control, security, and others and high working cost restrain the growth of Asia-Pacific cold chain logistics market.
The exclusive COVID 19 impact analysis provides an analysis of micro and macro-economic factors on the Cold Chain equipment market. Also, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The epidemic has created an optimistic impact on the cold chain industry, ensuing in fueling the demand for cold chain warehousing. The growing adoption rate of packaged food & beverage products is a hopeful take for the growth of the cold chain in the food industry. The COVID-19 impacted the supply chain of every industry owing to restricted trade during the epidemic, resulting in food manufacturers highlighting not only the food products but also on their storage to upsurge their shelf-life, which is anticipated to propel the market for the cold chain.
The study analyzed the Asia Pacific Cold Chain equipment market based on the type, equipment, packaging, application, and geography
Storage, transportation, and monitoring components are the types of cold chain equipment. The storage segment leads the cold chain equipment market by type. Owing to the growing preference for packaged food across the world. Changing dietary patterns and lifestyles of customers is driving demand for frozen food. This is projected to increase demand for storage solutions in the forecast period.
The major two types of equipment in the cold chain equipment market are storage equipment and transportation equipment. The storage equipment segment held the largest share in the market. This is attributed to the high demand for cold storage solutions to store raw, cooked, and processed food coming from the food plants.
The market finds the application in fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat, and seafood, processed food, pharmaceuticals, and bakery & confectionary. The pharmaceutical segment held a lion’s share in the market, owing to growth of complex biological-based medicines and shipments of hormone treatments, vaccines, and complex proteins that need cold chain refinements result in essential of temperature-controlled transportation and warehousing. Temperature-controlled logistics of pharmaceutical products and medical devices is the suggestively growing part of the healthcare logistics industry.
Geographically, the Asia Pacific cold chain equipment market is studied across the countries of India, China, Japan, and rest of APAC. China is leading the Asia Pacific cold chin equipment market, owing to growing government investments in logistics infrastructure expansion and penetration of warehouse management systems.
The key competitor of the market includes U.S. Cooler, Polar King International, Inc., United Parcel Service of America, Inc., X2 Logistics Networks, AIT Worldwide Logistics, Inc., CWT Pte. Limited, SF Express, CJ Rokin Logistics, OOCL Logistics Limited, JWD InfoLogistics Public Company Limited, Nichirei Logistics Group Inc., SCG Logistics Management Company Limited, among others.
The study analyzed the Asia Pacific Cold Chain equipment market based on the type, equipment, packaging, application, and geography. Storage, transportation, and monitoring components are the types of cold chain equipment. The storage segment holds the largest share in the market. The major two types of equipment in the cold chain equipment market are storage equipment and transportation equipment. The storage equipment segment accounted for the largest share in the market. The market finds the application in fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat, and seafood, processed food, pharmaceuticals, and bakery & confectionary. The pharmaceutical segment accounted for a lion’s share of the market. Geographically, the Asia Pacific cold chain equipment market is studied across the countries of India, China, Japan, and rest of APAC.
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