United States Cold Chain Logistics Market (2022 - 2027) Expected to Grow at a CAGR of 2% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "United States Cold Chain Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The cold chain logistics market of the United States is expected to show a growth of over 2% during the forecast period 2022-2027.
The major imports and exports of the United States include nuclear reactors and boilers, pharmaceutical products, chemical products and food products like vegetables, fruits and meat that require the temperature-controlled environment to be transferred safely from one place to another.
The food and beverage industry alone contributes 5% to the country's GDP and the rise in the industry is proposed to drive a steady demand for refrigerated transportation. About 95% of new drugs that are coming in the market are developed and manufactured in the United States that require proper temperature-controlled logistics.
The presence of large beverage companies in the United States, given their immense dependence on the cold storage transportation facilities to deliver goods, is also one of the major factors that are expected to fuel the demand for refrigerated vehicles. The growth in the import and exports of these products is increasing the demand for refrigerated transportation.
Key Market Trends
Growing Organic Food Market
The demand for organic food in the country has been continuously increasing due to rapid urbanization and an increase in the adoption of a healthy dietary lifestyle.
Diseases like diabetes, blood pressure, and obesity, and excessive contamination in conventional food are driving organic food sales. Organic fruits and vegetables are one of the largest and fastest-growing segments of the United States food market.
The Organic Trade Industry reported that in 2018, about 14% of all fruit and vegetable sales in the United States were categorized as organic leading to a total of USD 52.50 billion organic food sales in the country, 5.50% of all food sold in retail.
The increasing demand and inculcation of these products in the retail stores, storage and transportation from the farmland to the shops and from shops to the customers require huge inputs from the cold chain logistics sector to facilitate its growth.
Increasing Multi-Temperature Trucking
Chilled or perishable food items, pharma products, nuclear reactors etc; all have multiple challenges in transportation, in response to which the cold chain management is increasing its complexity significantly.
Refrigerated trucks that can hold goods in multiple segments at different temperatures are developed and are gaining popularity in recent years in the United States. These trucks are particularly used for the retail purpose, where temperature-controlled goods are in relatively small quantities from regional distribution centres.
Acknowledging the increasing vehicle population and global warming, the multi-temperature refrigerated trucks play a major role in the United States logistics market facilitating maximum utility with customisable and regulated temperature.
The cold chain logistics market of the United States is highly fragmented aiding the domestic as well as international transportation of temperature-sensitive goods.
It is undergoing developments with the introduction of solar-powered refrigerated units, multi-temperature trucks and freight optimisation software. International and local players like FedEx, XPO Logistics, Total Quality Logistics, Americold Logistics and many such companies are operational in the market.
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