[172 Pages Report]
The cold chain monitoring market
size is expected to grow from USD 4.6 billion in 2020 to USD 8.2 billion by
2025 at a CAGR of 12.5% from 2020 to 2025. Increasing demand for
temperature-sensitive drugs, rising demand for better food quality,
intensifying need to reduce food wastage, surging demand for generic drugs
owing to higher accessibility, and surging government focus on increasing the
supply chain efficiency of the fast-growing pharmaceuticals sector in Europe
and North America are some of the major factors driving the growth of the
market.
Key Market
Players
Sensitech Inc. (US),
ORBCOMM (US), Berlinger & Co. AG (Switzerland), Monnit Corporation (US),
ELPRO-BUCHS AG (Switzerland), Controlant (Iceland), SecureRF Corporation (US),
Savi Technology (US), Zest Labs, Inc. (US), and Infratab, Inc. (US) are among a few major players operating in
the cold chain monitoring market.
APAC is expected to
grow at the highest CAGR in the Cold Chain Monitoring market. The market has
been further segmented into China, Japan, India, and Rest of APAC. Rapidly
growing pharmaceuticals industry in the region is likely to offer unparalleled
growth of the cold chain monitoring market in APAC. Moreover, governments in
the region are endeavoring to make vaccines and biologics more accessible in
the local markets. To this end, they are investing significantly in cold chain
monitoring solutions, as they are of paramount importance to maintain the
effectiveness of the pharmaceutical products.
On the other hand,
augmenting demand for frozen, packaged, and convenience food products, coupled
with a surge in the number of supermarkets and quick-service restaurants, has
led to a rapid increase of cold storage facilities in the region. Additionally,
the growing popularity of online grocery shopping has also boosted the demand
for frozen food.
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It is
necessary for food to be chilled to avoid its deterioration, which can be
mainly caused due to the growth and activity of microorganisms. Chilling
reduces the food temperature below the ambient temperature but keeps it above
-1°C, providing the short term preservation of food products. Cold chain
monitoring systems for chilled products include data loggers, RFID devices,
temperature sensors, and others.
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