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The Perishable Goods Transportation Market is a specialized sector within the transportation industry that concentrates on the shipment of refrigerated and frozen goods. Typically, these commodities include food products that require a continuous cold chain during transportation, with vigilant temperature monitoring and maintenance to ensure product quality. This market has experienced significant growth in recent years, primarily driven by the escalating global demand for fresh food. The expansion of worldwide transport networks and the cold chain infrastructure has led to the emergence of a thriving industry specializing in the transportation of fresh goods. Consequently, an increasing number of food producers and suppliers are opting for specialized carriers to transport their products.
In 2022, the Perishable Goods Transportation Market had a value of USD 13.12 Billion and is anticipated to grow from USD 14.23 Billion in 2023 to USD 22.33 Billion by 2030. This growth reflects a compound annual growth rate (CAGR) of 5.50% during the forecast period from 2023 to 2030. Several factors contribute to this market expansion, including the rising demand for fresh and healthy food items, the need for efficient goods transportation, and the increased availability of cold storage facilities.
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Several key factors significantly influence the Perishable Goods Transportation Market's dynamics, including heightened consumer demand for fresh food driven by health consciousness, the imperative for efficient goods transportation, the proliferation of logistics companies, and the expansion of cold storage facilities. Key trends fueling the growth of this market include:
Increasing Adoption of Cold Chain Technology: Advanced technological solutions such as temperature control systems, GPS tracking, and remote monitoring are revolutionizing the management of temperature-sensitive shipments. These innovations enhance reliability and enable suppliers to better monitor their products.
Expansion of the Cold Chain Logistics Market: The global cold chain logistics market is rapidly expanding as companies seek ways to reduce spoilage and minimize losses. The availability of specialty refrigerated transport continues to grow, while technological advancements improve the accuracy and reliability of cold storage facilities.
The global Perishable Goods Transportation Market can be segmented based on product type, mode of transport, and region:
Fresh food products, which can be further categorized into meat, dairy products, fish and seafood, fruits and vegetables, among others.
Frozen food products, with sub-categories including pre-cooked food, ice-cream and desserts, bakery and confectionery, and others.
· Roadways, including trucks, vans, and other vehicles.
· Railways.
· Airways.
The Perishable Goods Transportation Market is regionally divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Key regional insights include:
· North America: Expected to be the largest region due to the presence of major players like FedEx, UPS, and DHL offering rapid delivery services for perishable goods.
· Europe: The second-largest regional market driven by high demand for healthy food products and the presence of major players such as DHL, DB Schenker, and Kuehne+Nagel.
· Asia Pacific: The fastest-growing regional market, fueled by growing economies, increased investments in the food industry, and high demand for food products, particularly in India and China.
Prominent players in the market include:
· FedEx
· UPS
· DHL
· DB Schenker
· Kuehne+Nagel
· Kerry Logistics
· Yusen Logistics
· TNT Express
· Joulon Services,
· Reefer Express Logistics.
These industry leaders employ various strategies like mergers, acquisitions, partnerships, product launches, and expansions to augment their market share. For instance, in November 2019, Kerry Logistics Network Limited acquired ACL Airshop for USD 250 million, expanding its global presence in the air cargo sector.
Innovative technological solutions and advanced technologies play a pivotal role in shaping the Perishable Goods Transportation Market. These developments include the use of temperature control systems to detect and prevent temperature fluctuations, GPS tracking for shipment monitoring, and the incorporation of blockchain technology for enhanced visibility and traceability. This technology not only accelerates shipment delivery but also improves quality control while reducing operational costs. Additionally, companies are offering personalized services such as expedited shipping, real-time updates, and door-to-door delivery to enhance the customer experience.
The global Perishable Goods Transportation Market size is projected to hit at USD 22.33 billion by 2030
The global Perishable Goods Transportation Market is projected to grow at a CAGR of 5.50% during the forecast period, 2023-2030.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65368
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