Demand For Frozen Seafood Drives Cold Chain Market

Friday, May 26th, 2017 | 575 Views

The global cold chain market is forecast to grow at a CAGR of 12.4 percent between 2017 and 2021, according to Research and Markets.

One trend in the global chain market is provision for end-to-end integrated services. Several cold chain service providers have recently started to offer end-to-end integrated services to end-users in the global refrigerated warehousing market.

Cold chain management services to customers to aid them in their cold chain logistics decision-making processes are provided by vendors. The services which are offered include end-to-end cold chain management services like inventory management, order scheduling, order forecasting, warehousing, and delivery management.

Disaster recovery services that enable customers to track consignments and help them communicate with the entire supply chain are also offered by vendors. In addition, some vendors provide training sessions for all the personnel involved in the cold chain logistics. Thus, the increase in the provision of end-to-end integrated services by vendors is another trend that is expected to have an impact on the global cold chain market during the forecast period.

According to the report, a factor driving the market is the rise in trading of frozen food and seafood. The demand for seafood continues to increase globally, and the significant population growth in China, India, and Brazil contributes to the increasing frozen fish and seafood markets. Increased demand for seafood has led to a rise in its imports and exports among countries, which require cold storage and transportation.

China and Norway were the largest exporters of seafood in 2015. China’s exports amounted to US$20 billion and Norway exported US$10 billion worth of seafood products. While China exported to almost all countries, Norway’s exports were mostly to European countries, and fresh salmon constituted most Norway’s fish and seafood exports. It is estimated that China’s exports will grow at a CAGR of 15.6 percent over the forecast period.

The cold chain segment involves an extremely vulnerable and sensitive combination of processes that have a key impact on the condition of the final product. Therefore, manufacturers should place importance on rectifying any weak links in the cold chain, as it could mean extensive damage to product, brand name, or supplier-retailer relationships.