Report Code: A15105 | Pages: NA | Mar 2023 | 1133 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Refrigerated Transport Market
Request Now !Additionally, technological advancements in refrigerated systems, particularly technological solutions introduced by refrigerated transport service providers for reducing the environmental impact, are projected to enable their simple operations. Integration of multi-temperature systems is further projected to make growth opportunities for refrigerated transport service providers and frozen & chilled foodstuff manufacturers. The expansion of the refrigerated transport market is attributed to the increasing trade of perishable commodities at a worldwide level, as lower tariffs enable simple cross-border movement of perishable goods. However, the market growth is projected to stay hindered because ofchallenges like the upkeep of products during transportation, lack of infrastructure in emerging countries, and rise in fuel costs.
The pharmaceutical category is expected to experience fastest growth during the forecast period. This is attributed to the growing demand for biologics, cell therapies, vaccines, and blood products, which require temperature-controlled containers for storage and transportation. This is expected to lead to the expansion of global trade by supporting refrigerated perishables by sea in recent years.
COVID-19 Impact analysis
Top Impacting Factors
Market Trends
Refrigerated transports are increasing the Number of Trade RoutesÂ
A trade route can be defined as a logistical network of pathways and stoppages used for the commercial transportation of cargo. It is allowing goods to succeed in distant markets, one trade route contains long-distance arteries, which can further be connected to smaller networks of economic and non-commercial transportation routes. Thus, with the continual increase within the maritime trade volume and number of trade routes, Refrigerated transports are expected to witness a high demand.
Supported transportation mode, the seaways category held the most important share within the Refrigerated transport market and it is expected to take care of the lead within the coming years. This is due to the merchant shipping sector conducting more than half of the international trade through commercial ships. Moreover, on rivers and canals, barges are often wont to carry bulk cargo.
Rise in the Demand of Pharmaceutical Drugs transport
Most pharmaceutical drugs are temperature-sensitive, therefore they are required to be stored and transported under a controlled environment, so as to take care of their efficacy and safety. Growing accidents and incidents have created a requirement for correct temperature-controlled transportation methods, like Refrigerated transports, in order to stop shipment losses. With the development in Refrigerated transport s’ technology and a decrease within the cost of shipping, several pharmaceutical players have started trading overseas to realize higher revenue.
There is rise in demand for biologics, cellular therapies, vaccines, and blood products, which require temperature-controlled containers for storage and transportation.
Key Benefits of the Report
Questions answered in the Report
Refrigerated Transport Market Report Highlights
Aspects | Details |
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By Temperature |
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By Application |
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By Technology |
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Mode of transportation (Road) |
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By Region |
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Key Market Players | General Mills, Conagra Foods, Kraft Heinz Company, Nestle, Associated British Foods, Kerry Group, Unilever, Mccain Foods Ltd., Samworth Brothers Ltd., Iceland Foods Ltd. |
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