Industry

Cold Chain Monitoring Market – Rising need for reducing food wastage and the growing demand for enhanced food quality

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The cold chain monitoring market holds immense growth opportunities, particularly in developing economies. The enhanced control of the assets in the warehouse making use of cold storage and automation technologies are projected to support the overall development of the market in the coming few years. The research study offers a detailed analysis of the cold chain monitoring market, throwing insights on growth prospects, opportunities, and current trends. Moreover, the segmentation and the competitive analysis of the cold chain monitoring market have also been discussed at length in the scope of the study.

The rising need for reducing food wastage and the growing demand for enhanced food quality are the main factors that are projected to enhance the progress of the cold chain monitoring market in the next few years.

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On the other hand, the high cost of implementation and the issues related to the monitoring and installation of cold chain monitoring solutions are expected to restrict the development of the market in the near future. Nonetheless, the rising focus of government organizations on regulations that are likely to impact the efficiency of the supply chain in the pharmaceutical sector is predicted to encourage the development of the market in the next few years.

In the last few years, the healthcare sector has been developing at a rapid rate, thanks to which, the demand for temperature-sensitive drugs is likely to increase worldwide. This is projected to ensure the development of the overall market in the next few years. The easy accessibility of generic drugs is another major factor that is likely to support the development of the market in the coming years. In addition to this, the emerging economies are projected to offer several growth opportunities for the players, thus encouraging the development of the market in the next few years.

Geographically, North America and Europe are expected to attain a huge portion of the cold chain monitoring market in the next few years. The presence of well-established healthcare and pharmaceutical industries is anticipated to accelerate the development of the market in the next few years. The strict rules and regulations considering the monitoring of cold chain are projected to ensure the development of the North America in the coming years. In addition to this, the rise in the demand for frozen and chilled foods are projected to support the market growth in the near future. Furthermore, Europe is projected to observe a healthy growth in the coming few years, followed by Asia Pacific in the next few years.

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The global market for cold chain monitoring is growing at a healthy pace and is expected to witness a stiff competition over the next few years. The increasing participation of players and their investments for research and development activities are predicted to ensure the market growth in the next few years. Some of the key players engaged in the cold chain monitoring market across the globe are Cloverleaf Cold Storage, Kloosterboer Group, AGRO Merchants Group, LLC, Nichirei Logistics Group Inc., Interstate Cold Storage Inc., Burris Logistics, Lineage Logistics Holding LLC, Swire Cold Storage Ltd, and Americold Logistics.

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