Perishable Goods Transportation Market Size, Share, Growth and Industry Analysis by Type (Meat, Fish, And Seafood, Dairy and Frozen Desserts, Vegetables and Fruits, And, Bakery and Confectionery), By Application (By Road, By Sea, And, Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Perishable Goods Transportation Market REPORT OVERVIEW

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global perishable goods transportation market size was USD 16050 million in 2020 and market is projected to touch 31746.2 Million By 2031, exhibiting a CAGR of 6.4% during the forecast period.

Perishable goods transportation plays a very important part in making sure the timely and safe delivery of sensitive products which include fresh produce, dairy products, and mainly pharmaceuticals. All of these goods require specialized handling and temperature-controlled environments. Only then their quality can be maintained and spoilage can be prevented. The transportation industry is using many strategies which includes refrigerated trucks, and, advanced cold chain logistics. With higher demand for perishable food items the need for perishable goods transportation has also increased.

 With the integration of advanced technologies temperature-monitoring and tracking have become more sophisticated as well as efficient. Urbanization and growth of international trade have further increased the scope for the market. These factors are collectively driving the perishable goods transportation market growth.

COVID-19 Impact

"Increased Costs and Longer Transit Times During Pandemic Decreased Market Growth"

The pandemic of COVID-19 not only had a negative impact on the finances of all the nations but also caused a major health crisis. The restrictions that were imposed on traveling and trade severely disrupted the supply chains. This in turn caused delays and logistical challenges. Travel bans, border closures and reduced flights completely limited the availability of transportation options.

As a result, this led to increased costs and longer transit times for perishable goods. The need for strict health and safety measures, such as temperature monitoring and sanitation protocols, further added a lot of complexity to the overall transportation process. Therefore, the market experienced several difficulties amidst the pandemic period.

LATEST TRENDS

"Real-time Visibility in Transportation Systems to Increase Market Growth"

Technology has brought about many new changes in the market. The two main factors that have brought about change in the market are advanced technology and focus on sustainability. Temperature monitoring and tracking systems have become more sophisticated. This is enabling real-time visibility and control over the condition of goods during transit. Blockchain technology has also been integrated in order to provide enhanced transparency. This will help in ensuring the integrity and safety of perishable products.

Apart from this, manufacturers as well as consumers are focusing more on eco-friendly transportation solutions. Electric and hybrid vehicles are being utilized, which will ultimately help in reducing carbon emissions. All of the above-mentioned factors are considered to be the latest trends and innovations in the market.

Perishable Goods Transportation Market SEGMENTATION

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• By Type

The market can be divided on the basis of type into the following categories:

Meat, fish, and seafood, dairy and frozen desserts, vegetables and fruits, and, bakery and confectionery. The meat segment is expected to hold the dominant market share through 2031.

• By Application

Classification based on application into the following categories:

By Road, by sea, and, others. The by road segment is predicted to dominate the market through 2031.

DRIVING FACTORS

"Growth of International Trade in Past Few Years to Amplify Market Growth"

Several factors will contribute to the growing demand for perishable goods transportation. This includes factors like rapid globalization and expansion of international trade. With the growth of international trade, the necessity for efficient transportation networks to reach distant markets has also increased. Changing consumer preferences towards fresh and healthy food options have increased the demand for perishable goods. This drives the need for timely and reliable transportation.

 Additionally, many interesting advancements in cold chain technology and logistics have improved the viability of transporting perishable goods over longer distances. Integration of new technologies will also make the transportation procedure more feasible and economically viable. All of these factors are prone to increase the demand for the market.

"Increasing Urbanization in Several Areas to Develop Market Growth"

Apart from the above-mentioned factors such as globalization, changing consumer preferences, and the growth of e-commerce, many other factors will have a significant impact on transportation of perishable goods. Urbanization is one such factor, as more people are living in cities. Such people will have limited access to agricultural production. This increases the need for transporting perishable goods from rural areas. Additionally, the rise of specialized diets, such as vegan, gluten-free, and organic, has increased the demand for require specific perishable products. Government regulations and international trade agreements also have an influence over the transportation of perishable goods. All of these factors will help in the growth and development of perishable goods transportation market share.

RESTRAINING FACTOR

"Inadequate Infrastructure in Developing Regions to Decrease Market Growth"

In spite, of the increasing efficiency of the transportation of perishable goods there are certain factors that can still have a negative impact on the market. Inadequate infrastructure, especially in developing regions, can limit the availability of proper storage facilities. High operational costs that are directly associated with temperature-controlled transportation, can pose financial constraints for businesses involved in perishable goods transportation.

Along with this there are many regulatory complexities that are involved. Unpredictable weather conditions, natural disasters, and political unrest can disrupt transportation networks and pose risks to perishable goods. Limited shelf-life of perishable goods can further deteriorate the market growth and development.

Perishable Goods Transportation Market Regional Insights

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"North America to Dominate the Market Growth During Research Period"

The leading region in perishable goods transportation is North America. The growth of North America in this region can be attributed to many factors such as a robust infrastructure, advanced logistics systems, and well-established cold chain networks. Both the United States and Canada have extensive road, rail, and air transportation networks.

Also, North America implements many advanced technologies, such as temperature monitoring systems and refrigerated containers. Furthermore, North America's strong trade relationships, both domestically and internationally will help a lot in making it the leading region in the perishable goods market.

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position in the recent days. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. Key market players have adopted unique strategies to flourish in the market. Many new innovations and changes are being seen in the market.

List of Market Players Profiled

• C.H. Robinson (U.S.)
• Ingersoll Rand (Ireland)
• Maersk Line (Denmark)
• NYK Line (Japan)
• Hapag-Lloyd (Germany)
• CMA CGM (France)
• Swift Transportation (U.S.)
• MOL (Japan)
• Comcar Industries, Inc (U.S.)
• CRST International (U.S.)
• Orient Overseas Container Line (Hong Kong)
• VersaCold (Canada)
• Africa Express Line (South Africa)
• COSCO SHIPPING (China)
• FST Logistics (U.S.)
• Bay & Bay (U.S.)
• K Line Logistics (Japan)
• Stevens Transport (U.S.)
• Maestro Reefers (Netherlands)
• CSAV (Chile)
• Weber Logistics (U.S.)
• Hanson Logistics (U.S.)
• Geest Line (U.K.)
• Kyowa Shipping (Japan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also provides information about some of the top industry players in the market.