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The perishable goods transportation market size is forecast to increase by USD 9.23 billion, at a CAGR of 8.8% between 2023 and 2028. The rising demand for processed food is driving the need for efficient and reliable transportation services to ensure that perishable goods reach their destination in optimal condition. Technological advances in freight management, such as GPS trackers, temperature control systems such as refrigerated transportation, and real-time monitoring, are improving the efficiency and safety of perishable goods transportation. End-to-end integrated services, which provide seamless transportation solutions from source to destination, are also becoming increasingly important as companies seek to streamline their supply chains and reduce costs.
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The perishable goods transportation market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The MPS segment is estimated to witness significant growth during the forecast period. Global meat production and consumption have increased significantly over the years. In 2021, global meat production is 135 million metric tons. Global meat exports increase to about 36 million metric tons by 2020. Chicken is the most consumed meat in 2020, accounting for 34% of total meat production. About 42% of total meat consumption comes from pork, followed by chicken and beef.
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The MPS segment was the largest segment and was valued at USD 5.56 billion in 2018. For seafood, total global fish production will reach around 156 million metric tons in 2020. The increase in seafood consumption can be attributed to the growing awareness of its health benefits. Seafood is rich in omega-3 acids, protein, and other important vitamins. As a result of these benefits, people have started to consume more seafood, leading to global demand for seafood. This growing demand is impacting the demand for transporting perishable goods, which in turn will boost the growth of the global perishable goods market during the forecast period.
APAC is estimated to contribute 35% to the growth of the global market during the forecast period.
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Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US is one of the major contributors to the transport of perishable goods via roadways. The annual growth rate of household disposable income is also increasing in the region. These factors are driving the demand for perishable goods in the US, thus driving more investment in the market. Due to the low cost of operation and high-volume capacity, most goods are transported via roadways. In addition, the growing demand for organic food products, especially in Canada, is driving the growth of road freight transportation. For example, Canada is one of the sixth largest consumers of organic food in the globe. They helps to preserve it well and helps to maintain the high quality of organic food. This will lead to an increase in demand for the regional market during the forecast period
The market is vital for the safe and efficient delivery of temperature-sensitive and moisture-sensitive products such as fruits, vegetables, meats, poultry, seafood, dairy products, bakery goods, and flowers, as well as pharmaceuticals. Refrigerated trailers, reefer containers, and specialized air and sea freight services are used to transport these goods. The market serves the shipping and logistics industry, ensuring that processors, couriers, and other stakeholders comply with regulations and adopt technology to maintain quality assurance. Infrastructure developments and sustainable practices are key drivers, providing opportunities to meet consumer preferences for fresh food and health-conscious products.
Technological advances in freight management are a major driving factor for the growth of the global market. With the advent of technologies such as Internet of Things (IoT) and global positioning systems (GPS), temperature monitoring devices have evolved into smart devices. Companies have introduced devices that monitor temperature and humidity. These devices instantly notify users about temperature and humidity levels, enabling remote monitoring of commodities. This enhances transparency between customers and shipping companies.
In addition, to reduce carbon emissions, providers like Kuehne Nagel Management AG have begun developing motorless refrigerated containers. These technological advancements have made the transportation of temperature-sensitive products and moisture-sensitive products more efficient and environmentally friendly. Therefore, technological developments in cargo management are expected to drive perishable goods transportation market growth during the forecast period.
The introduction of cloud technologies, artificial intelligence, and the Internet of Things in freight is the primary trend in the global market. Most companies use the latest technology, such as sensors that actually monitor temperature and humidity, which generates a huge amount of data. This data can be used for predictive analytics, providing information about the number of reefer container failures and when they occurred. This will enable the company to know when a reefer container needs maintenance and make informed decisions on how to properly manage its freight.
Furthermore, market players like Intratab have introduced applications and tags that allow real-time monitoring of perishable food shipments. The application provides users with information on freshness time, temperature, and shelf life, thus improving product safety and integrity. Therefore, the emergence of cloud technology, artificial intelligence, and IoT in freight transportation is expected to drive perishable goods transportation market demand during the forecast period.
Safety issues of perishable goods are the challenge that affects the growth of the market. Perishable goods are highly susceptible to damage and spoilage. Care should be taken when transporting these products. Failure of any operating point can result in food safety issues. Perishable foods that are being transported must be chilled before being transferred to refrigerated containers. Direct transmission without cooling will affect product quality. This requires preventive maintenance that inspects refrigerators before and during transportation.
Furthermore, in April 2016, the Food and Drug Administration (FDA) issued rules to ensure food safety. This rule requires shippers to document hygienic practices when transporting food products. Other laws introduced include the Sanitary Food Transportation Act of 2005 and the Food Safety Modernization Act of 2011. There is a standard temperature scale that must be followed when transporting different types of goods. As a result, perishable food safety-related issues may impede perishable goods transportation market growth during the forecast period.
The perishable goods transportation market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the perishable goods transportation market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
The perishable goods transportation market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The perishable goods transportation market is witnessing growth driven by trends such as the rising popularity of natural and plant-based diets, increasing demand for fresh fruits, and the adoption of electric vehicles (EVs) for green transportation to reduce carbon footprint. Internet of Things (IoT) technology is revolutionizing the industry, improving cold-chain infrastructure and enhancing temperature-controlled transportation. As consumers prioritize health, online supermarkets and delivery services are leveraging RFID tracking systems and temperature-controlled containers to ensure the safe delivery of frozen food and chilled food products in line with health-conscious diets.
Additionally, the market is crucial for meeting consumer demands and ensuring access to fresh goods across the globe. This market relies on air cargo and sea freights for efficient and cost-effective service, reducing wastages and the risk of degradation that can lead to foodborne illnesses. With a focus on customer satisfaction and profit, the industry is adopting eco-friendly vehicles and advanced technology-based solutions for temperature controlled transportation. As consumers become more health-conscious, the market is witnessing a rise in demand for ready-to-eat meals and meal kits facilitated by meal delivery services and digital platforms.
Further, the market plays a crucial role in ensuring the shelf-life of products and meeting the efficient service demands of consumers. It supports long-distance trade, contributing to economic growth by transporting items such as frozen meat, canned vegetables, and breakfast cereals. To meet the expenditure capacities of consumers, the market utilizes specialized carriers and transportation equipment, including refrigerated transportation, all while accommodating the growing health consciousness of consumers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
176 |
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Base year |
2023 |
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Historic period |
2017-2021 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.8% |
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Market growth 2024-2028 |
USD 9.23 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.49 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Germany, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AP Moller Maersk AS, Bay and Bay Transportation, C H Robinson Worldwide Inc., CMA CGM SA Group, Columbian Logistics Network, Compagnie Fruitiere, COSCO Shipping International Co. Ltd., CRST The Transportation Solution Inc., Deutsche Bahn AG, Deutsche Post AG, FST Logistics, Hapag Lloyd AG, Hellmann Worldwide Logistics SE and Co KG, Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, Mitsui and Co. Ltd., Orient Overseas Container Line Ltd., Swift Cargo Pvt. Ltd., VersaCold Logistics Services, and Wincanton Plc |
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Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our perishable goods transportation market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this perishable goods transportation market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Mode of Transportation
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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