Cold chain logistics market may grow at CAGR of 15.7%: Report

The global cold chain logistics market size is expected to grow from US$ 207 billion in 2020 to US$ 496.5 billion by 2027, at a CAGR of 15.7% from 2021 to 2027, says latest reports by Market Stats. “The changing global economy and substantial increasing demand for temperature-controlled industries, especially fresh agricultural products, manufactured food, and medical vaccines, has made the cold chain more important in supply chain solutions,” as per the report.  Other factors contributing to the market’s growth include rising awareness regarding health, reducing food wastage, and increasing government investment to upgrade the refrigerated warehouses to prevent corruption in food and other heat liable products. However, the higher cost associated with cold chain systems is one of the major challenging factors, added the report.