Cold Cuts: Refrigerated Transport’s Global Forecast
Globalization and technological advancements in refrigerated transportation systems and equipment are driving increased demand for temperature-controlled food across the globe. As a result, the refrigerated transport market is projected to reach 3.25 billion tons by 2022, at a compound annual growth rate (CAGR) of 2.5 percent from 2017 to 2022, according to the latest study from market research firm ASDReports.
Lack of transport infrastructure support in emerging markets and skilled resources in developed markets, and maintaining integrity during transportation of perishables commodities are the factors limiting market growth, according to ASDReports.
Among the report's key findings:
- Bakery and confectionery is projected to be the fastest-growing segment in the refrigerated transport market, and is projected to grow at the highest CAGR. Bakery and confectionery have always been attractive, with developing economies contributing more and developed economies adding value to it. Refrigeration is needed in the manufacture of other bakery products as well, to maintain product uniformity, prevent spoilage, and for storage.
- Asia Pacific is projected to be the fastest-growing region in the refrigerated transport market. The region's refrigeration transport revenue is increasing rapidly due to growth in the bakery and confectionery segment.
- Air-blown evaporators represent the largest segment in the refrigerated road transportation market, by technology. In this system, refrigeration unit fans direct the air to circulate around the inside portion of the refrigerated space to remove the heat. The air is returned to the cooling coil through the floor or the space under the pallets. The air-blown evaporators system is not complicated and has been used for the past few years. Refrigerated truck manufacturers widely use this technology because of its low cost and easy serviceability.