North America Healthcare Cold Chain Logistics Market Share, Trends, Demand, Revenue, Growth Drivers, Challenges, Opportunities and Future Competition Till 2033


North America Healthcare Cold Chain Logistics Market Share, Trends, Demand, Revenue, Growth Drivers, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Published: Mar-2024
 Author: SPER Analyst

North America Cold Chain Logistics Market is projected to be worth USD XX Billion by 2033 with a CAGR of 16.1%.

The term "cold chain" refers to a set of temperature-controlled operations, facilities, and equipment used for transporting, storing, and handling perishable items. It includes refrigerated trucks, warehouses, packing materials, and monitoring systems that keep the products within the specified temperature range.

North America Cold Chain Logistics Market Driving Factors and Challenges
The rising adoption of sustainable initiatives drives market expansion significantly. Reefer trucks have been noted as a growing contributor to traffic pollution in North America. Concerns, however, extend beyond automotive emissions to include other sources of pollution such as recyclables and secondary pollution from transportation, packing, and cold storage. Cold chain logistics organisations and shippers are actively looking for technologically improved solutions to balance perishable product energy requirements while reducing resource use. A noticeable trend towards electric cars, particularly for short-distance transportation of perishable items, has been noticed. The adoption of sustainable initiatives is driven by economic and environmental benefits, with manufacturers and warehouse cold chain firms using technologies including evaporative condensers, enhanced heat exchangers, and thermostat evaporator coils. These efforts are expected to help drive market expansion.

Furthermore, the growing trend of blockchain technology usage in the logistics business is influencing market dynamics. This technology enables distributed transaction ledgers and promotes transparency among stakeholders. Its adoption in healthcare logistics is projected to improve operations and increase transparency, resulting in easier logistics management and market growth.

However, fuel price fluctuations provide a substantial impediment to market growth. Cold chain logistics providers deliver their products using fuels such as petrol and diesel. These fuels are utilised to power transportation vehicles as well as the refrigeration systems in most cars. The gasoline is used by the main traction engine, which creates power for an electric motor in the refrigeration unit. Medium- to large-sized vehicles often use self-contained diesel engines for this reason. However, prices for petrol and diesel, which are derived from Brent crude oil, have fluctuated due to a demand-supply imbalance. These variations have a direct impact on petrol and diesel prices, affecting vendors' profitability. As a result, the cold chain logistics market in North America may see negative growth during the forecast period.

Impact of COVID-19 on North America Cold Chain Logistics Market
The COVID-19 pandemic spread from China to Europe and the United States, severely affecting global supply networks. The pandemic initially impacted operations in North America due to lockdowns and restrictions, but the supply of critical supplies was maintained under rigorous safety procedures. E-commerce exploded, particularly for perishable goods, increasing need for chilled storage and distribution. This increased logistics expenses. The pandemic fueled expansion in the cold chain business, notably for food and pharmaceuticals, as manufacturers aimed to extend shelf life. The switch to a cold chain system is predicted to boost growth in the North American cold chain business.

North America Cold Chain Logistics Market Key Players
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Americold Logistics, Inc., Burris Logistics, CONESTOGA REFRIGERATED STORAGE, LINEAGE LOGISTICS HOLDING, LLC, NFI Industries, NewCold, Penske, Seafrigo Group, Sonoc ThermoSafe (Sonoco Products Company), Tippmann Group, United States Refrigerated Storage, Wabash National Corporation, Others.

North America Cold Chain Logistics Market Segmentation

By Type: Based on the Type, North America Cold Chain Logistics Market is segmented as; Monitoring Components (Hardware, Software), Storage (Reefer Container, Warehouses), Transportation (Air, Rail, Road, Sea).

By Packaging Type: Based on the Packaging Type, North America Cold Chain Logistics Market is segmented as; Cold Packs, Crates, Insulated Containers & Boxes, Labels, Temperature-controlled Pallet Shippers.

By Packaging Material: Based on the Packaging Material, North America Cold Chain Logistics Market is segmented as; Insulating Materials (Cryogenic Tanks, EPS, PUR, VIP, Others), Refrigerants (Ammonia, CO2, Fluorocarbons, Hydrocarbon).

By Application: Based on the Application, North America Cold Chain Logistics Market is segmented as; Bakery & confectionary, Dairy products, Fish, meat, and seafood, Fruits & vegetables, Fruits pulp & concentrates, Pharmaceuticals, Processed food, Others.

By Region: This research also includes data for Canada, Mexico, US, Rest of North America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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