COLD CHAIN LOGISTICS MARKET IN THE ASIA PACIFIC 2024-2033
Source: Precedence Research
The Asia Pacific cold chain logistics market size accounted for $146.2 billion in 2023 and is estimated to reach around $603.1 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 15.3% from 2024 to 2033.
On the basis of geography, there shall be a great demand for cold chain logistics in the Asia Pacific region. The Asia Pacific region is expected to have the fastest growth during the forecast period as there has been an increase in the investment through the government of various nations for developing the infrastructure of cold chain logistics. There is a great demand for different types of processed food items and an increased demand for frozen dairy or even meat products which has led to a growth in the cold chain logistics market. There has been a maximum amount of growth in the regions like India, China, South Korea as well as Japan. These regions are expected to have the highest market share for the usage of cold chain logistics. Increase the number of different pharmaceutical companies and the increasing amount of FDI the market for cold chain logistics is expected to grow during the forecast period.
Apart from the Asia Pacific region other developing nations like Africa, Latin America as well as Middle East is also seeing a good demand for various food products that require cold storage warehousing and transport. Rapid industrialization is also expected to drive the market growth in the developing nations. In the developing nations there is a growth in the demand for frozen food products that are easy to cook and consume as the people in these nations have a hectic lifestyle.
ARPI note : the Producer Countries (agriculture and fisheries) will drive the cold chain growth during this period. The key points are how the country prepare all cold chain logistic infrastructure, its management, standardization, and human resources.