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NEW YORK , April 19, 2022 /PRNewswire/ -- The Perishable Goods Transportation Market is estimated to grow by USD 6 .43 billion from 2021 to 2026, and the market's growth is anticipated to accelerate at a CAGR of 7.22%.
Factors such as rising demand for processed food and the adoption of eco-friendly vehicles are significantly driving the Perishable Goods Transportation Market.
Our research report on "Perishable Goods Transportation Market by End-user and Geography - Forecast and Analysis 2022-2026" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.
Perishable Goods Transportation Market Report Key Highlights
Perishable Goods Transportation Market Scope
Accelerate at a CAGR of 7.22%
North America, Europe, APAC, South America, and Middle East and Africa
US, China, India, UK, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
AP Moller Maersk AS, Africa Express Line Ltd., Bay and Bay Transportation, C.H. Robinson Worldwide Inc., CMA CGM Group, Columbian Logistics Network, COSCO Shipping Co., Ltd., CRST International Inc., DB Schenker, Deutsche Post AG, FST Logistics, Hanson Logistics Ltd, Hapag-Lloyd AG, Hellmann Worldwide Logistics SE and Co. KG, Kuehne Nagel International AG, Mitsui O.S.K. Lines Ltd., Swift Cargo Pvt. Ltd., VersaCold Logistics Services, Wincanton Plc, and Orient Overseas International Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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Perishable Goods Transportation Market Trend
Breakfast cereals, dairy products, meat, poultry, and vegetables are all examples of processed foods. Meanwhile, people's spending habits have altered as their discretionary income has increased. They have developed a desire to explore and enjoy many culinary choices, regardless of price. Furthermore, trade liberalizations have aided in the transportation of a variety of processed foods, such as canned vegetables and ready-to-eat meals, which has increased demand for perishable products transportation. During the forecast period, increased demand will propel the perishable goods transportation market forward.
Perishable Goods Transportation Market Challenge
The Food and Drug Administration (FDA) published a rule for food transportation in April 2016 to protect food safety. When carrying food commodities, the rule requires shippers to have documented hygienic measures. In 2005, the Sanitary Food Transportation Act was passed, and in 2011, the Food Safety Modernization Act was passed. The FDA implemented laws such as Prescription Drug Marketing, Drug Sample Storage, and Handling Requirements in the case of pharmaceuticals and drugs. When transporting various types of commodities, there is a standard temperature scale that must be observed. Such strict regulations may stifle the expansion of the perishable goods transportation market over the forecast period.
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The Perishable Goods Transportation Market is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.
Some of the key market vendors are:
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download a free sample report
The MPS segment will gain a considerable proportion of the perishable goods transportation market. In 2020, the chicken was the most extensively consumed meat category, accounting for 34% of total meat output. Pork accounted for approximately 42% of overall meat consumption, followed by chicken and beef.
The increased consumption of seafood can be related to an increased understanding of its health advantages. Omega-3 fatty acids, proteins, and other essential vitamins abound in seafood. People have begun to consume more seafood as a result of these benefits, resulting in an increase in worldwide seafood demand.
APAC will account for 42 percent of market growth. The perishable products transportation market in APAC is dominated by China and India . The market in this region will increase at a quicker rate than the market in other regions.
Over the projected period, the need for fresh, convenient, processed, and packaged foods would aid the expansion of the perishable products transportation market in APAC.
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