Cold Chain RFID Market Size, Share, Growth, And Industry Analysis by Type (Sensors, RFID Tag, RFID Reader, by Technology, Passive RFID, and Active RFID) by Application (Food and Beverages, Pharmaceutical & Biomedical, and Others) Regional Forecast To 2031

Updated On: 08 July 2024

Cold Chain RFID Market Report Overview

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The global cold chain RFID market size was USD 1.854 billion in 2022 the market is expected to reach USD 4.636 billion in 2030, exhibiting a Compound annual growth rate (CAGR) of 16.5% during the forecast period. The sudden rise in CAGR was brought on by the market's expansion and the demand levelling down after the pandemic is over.

A supply chain that regulates temperature is known as the cold chain. A continuous set of storage and delivery operations that uphold a specific temperature range is known as a "cold chain." It is used to help extend and ensure the shelf life of goods including food, medications, chemicals, and other things that need to be distributed and stored in a temperature-controlled environment. RFID technology may be used to control the cold chain. Throughout the whole cold chain, from manufacture to transport to storage and sale, items may be tracked using RFID tags. This makes the cold chain more visible and manageable and can assist to guarantee that goods are maintained at the right temperature throughout the supply chain. As the advantages of RFID technology are more extensively understood and utilised, the cold chain RFID market growth is anticipated to expand in the next years.                  

The cold chain RFID market size is anticipated to expand quickly in the future years because to technical improvements in the field of RFID. In the cold chain sector, RFID tags are used to trace the flow of items and guarantee that the proper temperature is maintained. These tags are attached to the goods and containers, and the information is sent to a central database after that. This lowers the likelihood of product loss and waste while also lowering the cost of logistics. The need to enhance cold chain visibility, track & trace capabilities, and food safety standards are what are fueling the growth of the cold chain RFID market size. Zebra Technologies (US), Honeywell International (US), Impinj (US), Sato Vicinity (Japan), Alien Technology (US), SensTech (US), Invengo Information Technology (China), Omni-ID (US), and UPM Raflatac are the top competitors in the cold chain RFID market (Finland).

COVID-19 Impact: The Pandemic Caused the Import and Export of Perishable Goods to Be Suspended

Global trade and the economy have been significantly impacted by the COVID-19 pandemic. The import and export of perishable items have been restricted by a number of nations, which has had a particularly negative impact on the cold chain business. As a result, there has been a fall in the demand for cold chain services, which has resulted in lower income for businesses in the sector. It is anticipated that the pandemic would have a long-lasting effect on the cold chain business. Companies are expected to see a reduction in demand for their services in the near future. Longer term, a fundamental change in global trade patterns is anticipated as a result of the pandemic, with a stronger emphasis on local and regional supply chains. The market for RFID technology is anticipated to be significantly affected by the COVID-19 pandemic. The pandemic is anticipated to raise demand for RFID tags and readers that can be used to track perishable commodities because the cold chain is one of the technology's primary uses. This may result in lower RFID tag and reader costs and higher sales of RFID-enabled cold chain tracking systems. 

Latest Trends

"Introduction To Passive RFID Tags to Have a Big Advance in The Cold Chain RFID Business"

The cold chain RFID industry has grown and developed significantly in recent years. The need for RFID technology in the food and beverage business, as well as in the pharmaceutical and healthcare industries, is primarily to blame for this. The introduction of passive RFID tags is one of the most important advances in the cold chain RFID sector. These tags are substantially more affordable than active RFID tags since they don't need a power source. Additionally, passive RFID tags are substantially lighter and smaller, which facilitates their attachment to items. The growing adoption of RFID technology by big retailers is another important trend in the cold chain RFID industry. In the past, wholesalers and logistics firms tended to be the main users of RFID. But more shops are now utilising RFID to manage inventory and enhance customer service. As RFID technology is implemented more widely in the food, beverage, pharmaceutical, and healthcare industries, the cold chain RFID market is anticipated to expand over the coming years. 

Cold Chain RFID Market Segmentation

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• By type

Depending on cold chain RFID given are types: Sensors, RFID Tag, RFID Reader, by Technology, Passive RFID, Active RFID. The Sensors type will capture the maximum market share through 2030.

• By Application

The market is divided in Food and Beverages, Pharmaceutical & Biomedical and  Others based on application. The global cold chain RFID market  players in cover segment like food and beverages will dominate the market share during 2022-2030.

Driving Factors

"Increasing Demand for Fresh and Perishable Foods to Drive Market Growth"

Fresh and perishable foods are in greater demand as people grow more health concerned. This is due to the perception that these foods are not only healthier, but also more nutrient-dense than processed meals. The millennial generation is particularly affected by this trend because they are the age group most prone to seek out fresh and perishable meals. The cold chain RFID market has grown recently because to the rising demand for fresh and perishable commodities. In fact, it is predicted that the worldwide market for fresh foods would grow to $1.6 trillion by 2025. Numerous causes, such as the growing acceptance of healthy eating, the development of e-commerce, and the expansion of grocery delivery services, are responsible for the cold chain RFID market growth. The market for these goods will expand along with the demand for fresh and perishable foods. Opportunities will result from this expansion for both farmers and food makers as well as merchants.

"The Internet of Things Is Driving Growth in The Cold Chain RFID Market"

RFID is a technique for tracking items. The supply chain movement of items may be followed using the information gathered by RFID tags. The information may also be utilised to keep an eye on the state of things, such as the temperature of food items. T The Internet of Things (IoT) is a network of connected computing devices, mechanical and digital machinery, items, animals, or people that may exchange data across a network without the need for human-to-human or human-to-computer contact. The capability to monitor and trace things across the supply chain, from manufacture to consumption, is essential to a successful cold chain RFID system. Business processes may be streamlined, inventory management can be improved, and spoilage can be decreased by tracking the location and condition of goods in real time. RFID technology is being used to check the status of perishable items and trace the movement of goods along the supply chain. RFID tags are being used to decrease waste and spoiling of perishable commodities and increase supply chain efficiency. RFID tags may also be used to track a product's temperature along the supply chain and make sure it is being transported and stored properly. The growth of Internet of Things.

Restraining Factors

"High Cost of RFID Tags and Readers Is Constraining the Growth of The Market"

Because the technology is still in its early phases of development and is not yet generally available, the high cost of RFID tags and readers is a significant issue limiting the cold chain RFID market growth. RFID tags and readers need specialised equipment and infrastructure, which can be expensive to implement. Barcodes are less costly than RFID tags, and RFID readers also cost more than barcode readers. Small and medium-sized firms find it challenging to deploy RFID technology as a result. RFID readers can cost hundreds or even thousands of dollars, while RFID tags can cost up to several dollars each. Many potential users of RFID technology are discouraged from using it because of the exorbitant cost. Another issue limiting cold chain RFID market growth is the absence of standards in the RFID sector.

Cold Chain RFID Market Regional Insights

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"Asia-Pacific Market to Be Driven by Requirement for Effective Supply Chain Management"

Due to the rising demand for fresh and perishable items and the necessity to maintain their quality and safety, the Asia-Pacific area has one of the important markets for cold chain RFID. A significant population in the area is anticipated to increase cold chain RFID market share. The market is fueled by the demand for effective supply chain management, food product traceability, and the expanding use of RFID technology in the retail industry. A few other factors influencing the growth of the Asia-Pacific cold chain RFID market include the rising investments in the food and beverage sector and the rising demand for perishable items. Additionally, the area is home to some of the top producers of RFID solutions in the globe, which is predicted to further accelerate the cold chain RFID market share. 

The cold chain RFID market in North America has expanded quickly in recent years. The food and beverage, pharmaceutical, and other industries' growing demand for cold chain logistics solutions is to blame for this. The cold chain RFID market share in North America is anticipated to expand and have the second-highest market share throughout the forecast period. The requirement for effective supply chain management, the traceability of perishable items, and growing concerns about food safety are the main drivers influencing the growth of this industry. Additionally, compared to other tags, RFID tags are more resistant to significant temperature fluctuations, which makes them perfect for tracking perishable commodities. Due to the growing use of RFID technology in the logistics sector and the growing need for effective cold chain management solutions, the North American cold chain RFID market share is predicted to expand over the next several years.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Alien Technology (U.S)
• Checkpoint Systems Inc (U.S)
• Impinj Inc (U.S)
• Nedap N.V (Netherlands)
• RFID4U (eSmart Source, Inc.) (U.S)
• Invengo Technology BV (China)
• GAO RFID Inc (Canada)
• Avery Dennison Corporation (U.S)
• Sato Holdings Corporation (Japan)
• Maka RFID (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.