The cold chain market is estimated to be valued at USD 203.14 billion in 2018 and is projected to reach USD 293.27 billion by 2023, at a CAGR of 7.6%. The key players in the cold chain market include Americold Logistics (US), Preferred Freezer Services (US), Burris Logistics (US), Lineage Logistics (US), and Nichirei Logistics (Japan). Other players include Swire Cold Storage (Australia), AGRO Merchants (US), Kloosterboer (Netherlands), and Interstate Cold Storage (US).
Key strategies such as expansions & investments, new service launches, mergers & acquisitions, partnerships, collaborations, agreements, rebranding, and joint ventures were adopted by the prominent players to expand their global presence and increase their share in the market for cold chain. The leading players are focusing on strengthening their R&D capabilities by investing in advanced cooling technologies to offer diversified service portfolios for different applications, particularly in the food & beverages, dairy, and confectionery industries.
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Innovative new service launches, strategic acquisitions, and organic expansions were the core strengths of the leading players in the cold chain market; these strategies were adopted by the players to increase their market presence. They helped the players diversify their businesses geographically, strengthen distribution networks, and enhance their service portfolios. Market leaders such as Americold Logistics (US), Preferred Freezer Services (US), Burris Logistics (US), Lineage Logistics (US), and Nichirei Logistics (Japan) successfully tapped the potential markets through new service launches, expansions, investments, and acquisitions.
Americold Logistics (US) is the global leader in temperature-controlled warehousing and logistics, and offers the most comprehensive warehousing, transportation, and logistic solutions in the world. It offers warehousing services to food producers, processors, distributors, retailers, and end consumers. The company also offers a full range of temperature-controlled transportation solutions for its customers, including LTL (less than truckload) and Multi-Vendor Consolidation programs. Americold has a well-established business in North America and is now focusing on the Asia Pacific region for expansions and partnerships. For instance, in December 2017, the company opened a new addition to its Clearfield, Utah campus. The new building added around 9.5 million cubic feet of temperature-controlled warehouse space.
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The expansion helped increase the company’s market leadership in northern Utah in the US to greater than 50% of the total temperature-controlled warehouse capacity. Also, in July 2016, Americold set up a temperature-controlled storage facility in Georgia, US. This expansion increased the company’s Georgia-based facility network to fifteen and added more than 90 million cubic feet of capacity in the Southeast US.
Preferred Freezer Services (PFS) is a temperature-controlled warehousing and logistics service-providing company that offers a wide range of temperature-controlled cold storage facilities and other cold chain services to various food industries, worldwide. It offers intermodal, less than truckload, truckload, and drayage services. The company is trying to increase its market share through expansions and joint ventures. For instance, in September 2015, Preferred Freezer Services set up a new facility in Lynden, Washington, US, to expand its footprint. The facility would cater to the increasing demand of the local agricultural market. Also, in February 2015, Preferred Freezer Services expanded its facility in Houston, Texas, US. The extension comprised 2.964 million cubic feet of storage capacity and catered to the increasing consumer demand. The company is also investing in advanced engineering temperature control warehouses to improve warehouse management systems. As the demand for fresh fruits & vegetables, meat, seafood, and temperature-sensitive food items is increasing across the globe, the company will see rapid growth in its services.
