Study: China’s cold chain market expected to grow at CAGR of 15.6% in next 5 years
Advanced GPS technologies, Internet of Things, mobile internet, big data and an influx in e-commerce are key drivers of growth in cold chain logistics.
While China’s cold chain market is in its infancy stage, the sector is poised to enter in high double-digit growth in the next 5 years, according to a report published by Ken Research, India.
Advanced GPS technologies, Internet of Things, mobile internet, big data and an influx in e-commerce are key drivers of growth in cold chain logistics. Plus, various cold chain logistics parks will be constructed in major locations and large and middle-size cities in the forecast period.
Express logistics is expected to drive the cold chain logistics market, owing to the shipments consisting of perishable items such as meat, dairy, frozen items and others that require a temperature-controlled environment. Based on the growth of the cold chain industry, future investment opportunities are attractive with regards to ULD manufacturing and management, temperature-controlled warehousing and 3PLs.
The expanding demand for fresh seafood in China has stimulated investment in the cold chain sector in China. These products are transported to supermarkets, hypermarkets and online stores via temperature-controlled supply chain.