The shift in focus from increasing production to better storage of commodities is driving the demand for the cold chain management. Cold chain technology helps reduce wastages at source by allowing manufacturers and supply chains to track the temperature of a product throughout its distribution journey.
According to a report by MarketsandMarkets Research, the global cold chain market was valued at $233.8 Billion in 2020 and is expected to reach $340.3 Billion by 2025, growing at a CAGR of 7.8 percent during the forecast period.
The growth of organized retail stores, increasing demand for higher shelf-life foods, the need for transporting temperature-controlled medicines, and the growing awareness among the urban population to mitigate food wastage are driving the growth of the industry. In addition, rising per capita income and changing consumer buying behavior also play an important role in its growth.
Digital innovations such as AI, IoT, cloud, and blockchain hold the potential to transform the way cold chains operate. It allows for greater efficiency by enabling managers to make decisions proactively. Using IoT-enabled connected devices in the cold chain, users can collect volumes of data from sensors that present opportunities to predict cold chain performance, identify risk areas in the supply chain, and provide better control over the cold chain.
This edition of Logistics and Transportation Review highlights the recent developments in the cold chain arena and insights into how businesses are aligning with these trends to transform legacy practices.
We have curated thought leadership articles from industry experts, including the Vice President for Centres of Excellence at GXO Logistics, Inc., and the Vice President of Analytics and Data Science at C.H. Robinson.
We also took a deep dive into the market trends to narrow down the list of companies delivering robust cold chain solutions. Equipped with innovative technological capabilities, the enlisted solution providers, including US Wine Transport and Leonards Express, help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Logistics and Transportation Review on Cold Chain companies helps you build the partnership you and your organization need to foster an environment driven by efficient technology.