The growth of the refrigerated transport market is attributed to the increasing trade of perishable commodities at a global level, as lower tariffs enable ease of cross-border movement of perishable goods. In addition, technological advancements in refrigerated systems, particularly technological solutions introduced by refrigerated transport service providers for reducing the environmental impact, are projected to enable their ease of operations. Integration of multi-temperature systems is further projected to create growth opportunities for refrigerated transport service providers and frozen & chilled food product manufacturers. However, the market growth is projected to remain hindered due to challenges such as the maintenance of products during transportation, lack of infrastructure in emerging countries, and rise in fuel costs.
The fish & seafood segment accounted for the largest share. The market is projected to witness high growth prospects in the fish & seafood segment during the forecast period. Manufacturers are offering frozen and canned food options that promote longer shelf life. Fast-paced lifestyles have led to an increasing preference for home delivery services, as it significantly reduces the cooking time. These factors are projected to create lucrative opportunities for frozen fish & seafood manufacturers and refrigerated transport service providers in the coming years.
The LCV segment is estimated to dominate the market in 2019 and is projected to grow at the highest CAGR during the forecast period. The growth of the LCV segment is driven by factors such as high demand for home delivery services and developments in the foodservice industry and food processing sector. The demand for refrigerated LCV is further driven by the increase in delivery of dairy products and pharmaceuticals by vans for short-distance transportation.
Asia Pacific is projected to account for the largest market share during the forecast period. In 2019, Asia Pacific accounted for the largest share in the refrigerated transport market. The growth of the market is attributed to the increasing investments by governments in this region for transportation infrastructure development projects related to highways, railway, and airport constructions. The Chinese transport ministry is also focusing on speeding up the construction of logistics hubs for transport and storage in the country.
Key players include General Mills (US), Conagra Foods (US), Kraft Heinz Company (US), Nestle (Switzerland), Associated British Foods (UK), Kerry Group (Ireland), Unilever (UK), Mccain Foods Limited (Canada), Samworth Brothers Limited (UK), and Iceland Foods Ltd. (UK).
Key Questions Addressed by the Report
· What are the growth opportunities in the refrigerated transport market?
· What are the major applications of refrigerated transport?
· What are the key factors affecting market dynamics?
· What are some of the major challenges and restraints that the industry faces?
· Which are the key players operating in the market and what initiatives have they undertaken over the past few years?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Increasing International Trade of Perishable Commodities
3.1.2. Technological Innovations in Refrigerated Systems and Equipment
3.1.3. Increased Demand for Frozen Perishable Commodities
3.1.4. Increase in the Use of Advanced Cold Rooms
3.2.1. Climate Change Affecting Transportation Infrastructure
3.2.2. Lack of Transport Infrastructure Support in Emerging Markets and Skilled Resources in
3.2.3. Maintaining Product Integrity During the Transportation of Perishable Commodities
3.2.4. Rising Fuel Costs and High Capital Investment Requirement
3.3.1. Intermodal Transport to Save Fuel Costs
3.3.2. Integration of Multi-Temperature Systems in Trucks and Trailers
4. Executive Summary
5. Refrigerated Transport Market, By Application
5.1. Chilled Food Products
5.1.2. Bakery & confectionery Products
5.1.3. Dairy Products
5.1.5. Fresh fruit & vegetables
5.2. Frozen Food Products
5.2.1. Ice Cream
5.2.2. Frozen Dairy Products
5.2.3. Processed Meat
5.2.4. Fish & Seafood
5.2.5. Bakery Products
6. Refrigerated Transport Market, By Mode of Transport
6.1. Refrigerated Road Transport
6.1.1. Refrigerated LCV (Van)
6.1.2. Refrigerated MHCV (Truck)
6.1.3. Refrigerated HCV (Trailers & Semi-Trailers)
6.2. Refrigerated Sea Transport
6.3. Refrigerated Rail Transport
6.4. Refrigerated Air Transport
7. Refrigerated Transport Market, By Temperature
8. Refrigerated Transport Market, By Technology
8.1. Vapor Compression Systems
8.1.1. Air-Blown Evaporators
8.1.2. Eutectic Devices
9. Refrigerated Transport Market, By Region
9.1. North America
9.2.6. Rest of Europe
9.3. Asia Pacific
9.3.4. South Korea
9.3.5. Rest of Asia Pacific
9.4. Rest of the World
9.4.3. South Africa
10. Company Profiles
10.1. Frozen and Chilled Food Manufacturers
10.1.2. Tyson Foods, Inc.
10.1.3. The Kraft Heinz Company
10.1.4. General Mills Inc.
10.1.5. Smithfield Foods
10.1.6. Kellogg Co.
10.1.7. Conagra Brands, Inc.
10.1.8. Kerry Group
10.1.9. Del Monte Pacific Ltd
10.1.10. Aryzta AG
10.2. Refrigerated Transport Service Providers
10.2.1. United Technologies Corporation (Carrier Corporation)
10.2.2. Daikin Industries Ltd.
10.2.3. Ingersoll Rand Plc (THERMO KING)
10.2.4. China International Marine Containers (Group) Ltd.
10.2.5. Utility Trailer
10.2.6. Singamas Container
10.2.8. Schmitz Cargobull
10.2.9. Fahrzeugwerk Bernard Krone
11. Conclusion and Recommendations
12.2. Related Reports