Global Refrigerated Transport Market- Global Forecast To 2024
On the basis of frozen food products, the fish & seafood segment accounted for the largest share in the refrigerated transport market in 2018
On the basis of frozen food products, the refrigerated transport market is segmented into bakery products, ice cream, processed meat, frozen dairy products, and fish & seafood. The fish & seafood segment accounted for the largest share in 2018. The market is projected to witness high growth prospects in the fish & seafood segment during the forecast period. Manufacturers are offering frozen and canned food options that promote longer shelf life. Fast-paced lifestyles have led to an increasing preference for home delivery services, as it significantly reduces the cooking time. These factors are projected to create lucrative opportunities for frozen fish & seafood manufacturers and refrigerated transport service providers in the coming years.
By vehicle type, the LCV segment accounted for the largest market size in the refrigerated transport market during the forecast period
The refrigerated transport market is segmented, on the basis of vehicle type, into LCV, MHCV, and HCV. The LCV segment is estimated to dominate the market in 2019 and is projected to grow at the highest CAGR during the forecast period. The growth of the LCV segment is driven by factors such as high demand for home delivery services and developments in the foodservice industry and food processing sector. The demand for refrigerated LCV is further driven by the increase in delivery of dairy products and pharmaceuticals by vans for short-distance transportation. Moreover, factors such as the availability of easy finance options for fully built vehicles will contribute to the increase in the sales of refrigerated LCVs.
Asia Pacific is projected to account for the largest market share during the forecast period
In 2019, Asia Pacific accounted for the largest share in the refrigerated transport market. The growth of the market is attributed to the increasing investments by governments in this region for transportation infrastructure development projects related to highways, railway, and airport constructions. For instance, the Chinese government significantly invested in its transport infrastructure in 2018. In the first 11 months of 2018, the country spent USD 328 billion, according to the government data. The Chinese transport ministry is also focusing on speeding up the construction of logistics hubs for transport and storage in the country. These factors are projected to drive the refrigerated transport market in the region.
- Chilled food products
- Frozen food products
Mode of transportation (Road)
- Vapor compression systems
- Air-blown evaporators
- Eutectic devices
- North America
- Asia Pacific
- Rest of the World (RoW)
- In July 2019, Nestlé launched its-YES! snack bars in a new recyclable paper wrapper. The launch supports the confectionery industry for using recyclable paper packaging.
- In March 2019, Nestlé opened a new R&D center in Beijing and a system technology hub in Shenzhen. The new R&D center enabled the company to accelerate trend-based innovation in China to meet consumer demands. The system's hub strengthened collaboration with Chinese partners and suppliers in the area of systems.
- In February 2019, Kraft Heinz enters into a distribution partnership with Indo Nissin Foods (India), to offer products such as Cup Noodles and Top Ramen Instant Noodles. The development helped the company to distribute and make its global product portfolio available to the Indian consumers.
2 Research Methodologies
3 Executive Summaries
4 Premium Insights
4.1 Opportunities in the Refrigerated Transport Market
4.2 Refrigerated Transport Market, By Application
4.3 Refrigerated Transport Market, By Mode of Transport
4.4 Refrigerated Transport Market, By Temperature
4.5 Refrigerated Transport Market, By Technology
4.6 Refrigerated Transport Market, By Region
5 Market Overview
5.2 Market Dynamics
6 Refrigerated Transport Market, By Application
6.2 Chilled Food Products
6.2.2 Bakery & Confectionery Products
6.2.3 Dairy Products
6.2.5 Fresh Fruits & Vegetables
6.3 Frozen Food Products
6.3.1 Ice Cream
6.3.2 Frozen Dairy Products
6.3.3 Processed Meat
6.3.4 Fish & Seafood
6.3.5 Bakery Products
7 Refrigerated Transport Market, By Mode of Transport
7.2 Refrigerated Road Transport
7.3 Refrigerated Sea Transport
7.4 Refrigerated Rail Transport
7.5 Refrigerated Air Transport
8 Refrigerated Transport Market, By Temperature
9.2 Vapor Compression Systems
9.2.1 Air-Blown Evaporators
9.2.2 Eutectic Devices
10 Refrigerated Transport Market, By Region
10.2 North America
10.4 Asia Pacific
10.5 Middle East & Africa
10.6 Latin America
11 Competitive Landscape
12 Company Profiles
(Business Overview, Products Offered, Financials, Recent Developments)*
12.2 Tyson Foods, Inc.
12.3 The Kraft Heinz Company
12.4 General Mills Inc.
12.5 Smithfield Foods
12.6 Kellogg Co.
12.7 Conagra Brands, Inc.
12.8 Kerry Group
12.9 Del Monte Pacific Ltd
12.10 Aryzta AG
12.11 United Technologies Corporation (Carrier Corporation)
12.12 Daikin Industries Ltd.
12.13 Ingersoll Rand Plc (THERMO KING)
12.14 China International Marine Containers (Group) Ltd.
12.15 Utility Trailer
12.16 Singamas Container
12.18 Schmitz Cargobull
12.19 Fahrzeugwerk Bernard Krone
*Details Might Not Be Captured in Case of Unlisted Companies.