The global refrigerated transport market was worth USD 16.38 billion in 2023. The global market is expected to reach USD 25.85 billion by 2032, up from USD 17.23 billion in 2024, and grow at a compound annual rate of 5.2% over the forecast period.
Refrigerated transport is a method of shipping seafood, frozen food, and medicine that requires temperature-controlled vehicles. It helps preserve and protect food, drugs, and medical supplies. Thanks to this transport service, perishable supplies move from one point to another in a controlled environment, maintaining quality and freshness and avoiding foodborne illness.
Refrigerated transport is one of the key links in the cold chain distribution chain for foodstuffs and food products. Innovative technologies support the growth of this market in food processing, along with increased world trade. By keeping perishable foods at low temperatures, perishable foods can be transported without getting dirty. The refrigerated transport industry is booming in the United States with the FDA Food Safety Modernization Act (FSMA) regulations, which promote cold and refrigerated transport.
In addition, the growth of research activities on subjects such as the innovative membrane for fuel cells and the creative components for reversible fuel cells and liquids will stimulate the growth of the refrigerated transport market in the near future.
The growing need for technological evolution from conservative energy sources to renewable energies will stimulate the adoption of fuel cells in refrigerated transport. Developing urban infrastructures, such as smart transport and smart cities in emerging countries, will create growth opportunities for refrigerated transportation. Growing city management solutions will drive market growth further.
This is attributed to the increasing globalization and technological developments of refrigerated transport systems for fresh and temperature-controlled food products. Also, strict government regulations on the production, processing, transportation, and quality of frozen food should further meet the market demand. This has increased customer loyalty to refrigerated food products, also stimulating the refrigerated transport market. Integration of transport and multi-temperature systems, increased demand for edible items stored cold and frozen, and accelerating the pace of international trade create immense growth opportunities for the global refrigerated transport business.
The limitations of the global refrigerated transport market include significant capital investments, particularly in developing economies. In addition, environmental variations reduce the efficiency of transport infrastructure, further increasing the overall cost. However, with the growing demand for prepared meals, the impact of this restriction is expected to diminish in the future. The recent increase in crude oil prices increases fuel costs, and the lack of adequate infrastructure for cold storage also hampers the market expansion.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
5.2% |
Segments Covered |
By Application, Mode Of Transport, Technology, Temperature, Vehicle, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
General Mills (United States), Conagra Foods (United States), Kraft Heinz Company (United States), Nestlé (Switzerland), Associated British Foods (United Kingdom), Kerry Group (Ireland), Unilever (United Kingdom), McCain Foods Limited (Canada), Samworth Brothers Limited (United Kingdom) and Iceland Foods Ltd. (United Kingdom) and Others. |
The global refrigerated transport market is segmented into chilled food and frozen food. Frozen foods like fish and seafood are likely to register the highest growth rate in this market in the coming years.
The world's refrigerated transport market is divided into road, sea, rail, and air.
The global market for refrigerated transport is segmented into steam compression systems, air evaporators, eutectic devices, and others.
The global refrigerated temperature transport market is segmented into single-temperature and multi-temperature.
The worldwide refrigerated transport business is separated into LCV, MHCV, and HCV. Of these, the LCV segment accounts for the principal portion due to their increasing usage for delivery of different products in a vicinity.
The global refrigerated transport market covers North America, Europe, Asia-Pacific, and the rest of the world. Geographically, the Asia-Pacific refrigerated transport market is foreseen to witness the most substantial growth in the estimated period due to increasing trade activities and favorable government policies.
The main players in the global refrigerated transport market are General Mills (United States), Conagra Foods (United States), Kraft Heinz Company (United States), Nestlé (Switzerland), Associated British Foods (United Kingdom), Kerry Group (Ireland), Unilever (United Kingdom), McCain Foods Limited (Canada), Samworth Brothers Limited (United Kingdom) and Iceland Foods Ltd. (United Kingdom).
These players have opted for different organic and inorganic strategies to increase their market share. Nestlé, one of the main players in the market, has adopted a well-established distribution strategy, which has allowed products to be delivered to urban and rural markets. It has adopted various strategies, such as acquisitions, expansions and investments, new product launches, and agreements in the frozen and refrigerated food segment, which has increased the use of refrigerated transport. In addition, with the growing preference for food along the way, the demand for refrigerated and frozen products is expected to increase, which, in turn, will help the business increase sales.
By Mode of Transport
By Temperature
By Application
By Technology
By Vehicle Type
By Region
Frequently Asked Questions
The growing focus on environmental sustainability and the need to reduce carbon emissions are driving the adoption of green refrigeration technologies such as electric and hybrid refrigerated vehicles, which are expected to witness significant growth in the global market.
Technological advancements such as temperature monitoring systems, GPS tracking, telematics, and real-time data analytics are enhancing the efficiency, safety, and visibility of refrigerated transport operations on a global scale.
Major players in the refrigerated transport market are focusing on strategic initiatives such as mergers and acquisitions, partnerships, product innovation, and geographical expansion to strengthen their market position and gain a competitive advantage.
The global refrigerated transport market is expected to witness steady growth in the coming years, driven by factors such as increasing demand for perishable goods, advancements in cold chain logistics, and rising awareness about food safety and quality standards. However, challenges such as fluctuating fuel prices, regulatory compliance, and infrastructure constraints may pose hurdles to market growth.
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