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Pharmacy benefit management market
PERISHABLE LOGISTICS MARKET REPORT OVERVIEW
The global perishable logistics market size expanded rapidly in 2022 and will grow substantially by 2028, exhibiting a prodigious CAGR during the forecast period.
The perishable logistics sector, responsible for haulage and storing super perishable goods, i.e. food, pharmaceuticals and industrial chemicals, is a very vital link in the global supply chain that is facing severe constraints due to tight schedules, and limited availability of storage. This market segment is really service to share many factors such as the growth of the demand for fresh and the frozen food products at the international level, the internationalization of the supply chains and the strict regulations concerning the transportation and storage of perishable products.
The perishable logistics market is characterized by gaming of a number of trends such as utilization of high-tech solutions such as cold- chain monitoring systems, temperature-light storage facilities, and the real time tracking systems. This technology is significant to guarantee the impeccable condition of perishables in the whole cycle of supply with less probability of spoilage and waste. Another trend which is getting a space in the perishable logistics includes, green measures like curbing GHG emissions and minimizing the food wastage which hence is finding its way into using eco friendly vehicles and containers.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering; with the perishable logistics market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Supply chains due to pandemic contain several cuts off also among products of a perishable nature. Disruption of movement of goods and services and imposing restrictions on travel like the issuance of lockdowns and border closure caused long delays and increase of the number of difficulties in going through the transport of the perishable food. This most cardinal element of the cold chain became more complicated during the pandemic. Those businesses encountered the problems of ensuring the steady temperature control, observance, and management of the assortment due to inadequacy in the transportation facilities and warehouses caused by interruptions.
The pandemic, too, had the effect of drivers of customer demand for fresh products goods. Take, for example, the increase in appetite for fresh vegetables, milk, and frozen foods, which became urgent necessities as the society was in lockdown. While the same thing happened for the rest of the residents, demand for some perishable items like seafood and luxury food went down with the closures of restaurants and reduce travel. The market is anticipated to boost the perishable logistics market growth following the pandemic.
LATEST TRENDS
"Technological Advancements to Drive Market Growth"
Temperature-controlled packaging is progressively considered crucial in perishable logistics. Technological progress has created more advanced packaging materials and systems that can keep unspoiled perishable foods during transport and storage. The blockchain technology is mushrooming into perishable logistics sector for better visibility and transparency. Using blockchain technologies, companies can trace the whole supply chain of perishable commodities from production, transportation, and delivery, which helps maintain regulations and quality standards.
Data analytics and predictive models have been the key elements in improving perishable logistics operations. Through the interpretation of data concerning supply chain operations, weather conditions, market demand, and transport routes, the companies can make the right decisions on how to enhance efficiency, reduce waste and bring down costs. These latest developments are anticipated to boost the perishable logistics market share.
PERISHABLE LOGISTICS MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into Air Transport, Sea Freight and Land Transport.
- Air Transport: Air travelling is a swift and perfect form of transporting fresh commodities, particularly those with short durations of shelf life or a quick transit. Provides time favorable, which is right for perishables, that require fast delivery. Preserves a consistent temperature regime and makes the products last longer.
- Sea Freight: Sea freight encompasses the shipment by ocean vessel, including the use of multi-temperature (reefer) containers that keep temperature controlled to preserve perishable goods. Owing to its affordability for large-scale cargoes, it can be transported over a vast distance.
- Land Transport: Land transport is a combination of road, rail, and intermodal means for perishable goods, the preferable of which are refrigerated trucks, trailers and miles of refrigerated railroads for temperature control. Job offers various options of delivery including: door-to-door and intermodal service too. Well-suited for regional distribution but ideal for short to medium-range transport.
By Application
Based on application the global market can be categorized into Fruits & Vegetables, Fish & Seafood and Others.
- Fruits & Vegetables: The extremely delicate transportation and distribution to the farmers, retailers, wholesalers and end-consumers that together constitute the supply chain of the perishable logistics of fresh fruits and vegetables is heavily dependent on the success of the perishable logistics. A cold chain is vital to preserve the wholesomeness and grace as well as the freshness and quality of fruits and vegetables. Temperature-controlled storage, refrigerated transportation, and proper handling methods are essential to make sure the food has a longer usability. Temperature monitoring is central just to avoid spoilage.
- Fish & Seafood: Perishable logistics represents a critical component of the seafood industry where it serves as a mechanism for the successful and time-efficient delivery of fresh and frozen fish, shellfish, and any fish products to markets all over the world. In seafood logistics, keeping cold chain conditions assured is vital. Involving harvesting centers, as well as processing to distribution, refrigerated storage and shipping are crucial ingredients to prevent bacterial growth, infestation, and product deterioration.
DRIVING FACTORS
"Rising Demand for Fresh and Frozen Perishable Goods to Boost the Market"
The prominent factor that enables perishable logistics market to grow in proportion to the growth of fresh produce, milk items, meat, seafood and frozen food demand is the increasing need. More customers are expressing their need for quality non-durable products such as fruits and vegetables, which are not only nutritious but also very convenient to use. because it should be piped through the applicator and confined by the tank. The programming of trucks with temperature control, the systems ensuring real time tracking in the vehicle location and the Internet of Things technology are the main areas of revolution in transportation of perishable goods. Providing these technologies to the farmers can help to maintain the storable conditions, avoid food losses, and give good quality and safety products.
"E-commerce and Direct-to-Consumer Channels to Expand the Market"
Due to the globalization of supply chains, the world has witnessed an incredible rise in perishable goods traded across international borders. Some companies obtain perishable items from various regions, as far as sentiments dictates, therefore, advanced logistical networks are vital to deliver products on time and maintain product quality throughout the supply chain. E-commerce and direct-to-consumer networks have transformed the food supply market. Customers today demand the prompt delivery and reliability of perishable items they order on the net resulting in the design of unique logistics pictures for perishable e commerce such as cold chain fulfilment centres and faster delivery services. These factors are anticipated to drive the perishable logistics market share.
RESTRAINING FACTOR
"Complex Supply Chain Requirements to Potentially Impede Market Growth"
Products characterized as perishable are subject to demanding transport chain constraints such as temperature control, timely transit, and handling care so as not to tamper with quality and safety of the product. Managing these regulations, especially for perishable items or those with complex regulatory compliance requirements adds to the complexity and costs of logistics operations. Logistics market for perishable commodities has a typical pattern of demand for certain products which are seasonal, e.g., fresh fruits and foods related to seasons. Packaging, transportation, and labor during peak seasons to be managed, which can lead to inefficiencies and result in high costs during off-peak periods. The factors are anticipated to hinder the growth of the perishable logistics market growth.
PERISHABLE LOGISTICS MARKET REGIONAL INSIGHTS
"North America is Dominating the Market with Size and Diversity of the Market, and Diverse Industry Sectors"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America has a wide and dynamic market for perishabale goods from fresh fruits and vegetables to dairy products, meat, seafood, pharmaceuticals, and flowers. The region is home to a large population, which increasingly urbanizes and consequently requires more of perishable logistics services. The area of North America is the biggest contributor to global trade as well as perishable product import and export businesses. The strategic location, comprehensive transport infrastructure developed (including ports, airports, and highways) and the trade agreements simplify the movement of perishable products both within North America and in international markets.
North America's economy is highly varied with a large number of sectors, which require deperishable logistics. This comprises of food and beverage companies, drug manufacturers, retailers, e-commerce platforms and healthcare providers among others which are the stakeholders of this business that have aided the growth and stability of the perishable logistics market in the region.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
The perishable logistics market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, materials, and smart features in perishable logistics, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- TIBA Group [Spain]
- DHL [Germany]
- Kuehne+Nagel [Switzerland]
- Hellmann Worldwide Logistics [Germany]
- CH Robinson [U.S.]
INDUSTRIAL DEVELOPMENT
December 2021: Sensitech incorporates monitoring and logging of temperature devices, data loggers as well as cloud-based software applications that are uniquely designed for the cold chain in the food, pharmaceutical, and medical industries. The major advantage that they can get from these requirements is to make their products compliant, minimizes dumping, and increase in the timely deliver the products.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
Frequently Asked Questions
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Which is the leading region in the perishable logistics market?
The North American region is the prime area for the perishable logistics market owing to the Size and Diversity of the Market, and Diverse Industry Sectors in the region.
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Which are the driving factors of the perishable logistics market?
Rising Demand for Fresh and Frozen Perishable Goods, and E-commerce and Direct-to-Consumer Channels are some of the driving factors of the perishable logistics market.
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What are the key perishable logistics market segments?
The perishable logistics market segmentation that you should be aware of, which include, Based on type the perishable logistics market is classified as Air Transport, Sea Freight and Land Transport. Based on application the perishable logistics market is classified as Fruits & Vegetables, Fish & Seafood and Others.