Global cold chain logistics market expected to hit US$490B by 2029

The global cold chain logistics market is projected to grow from US$275 billion in 2023 to US$490 billion by 2029, according to a new report added to ResearchAndMarkets.com’s offerings.

The growth is being driven by surging demand for perishable food, pharmaceuticals and other temperature-sensitive products, along with the continued expansion of e-commerce and global trade. Key industry players include Americold Logistics LLC, Lineage Logistics Holdings LLC, UPS, Deutsche Post DHL Group and Kuehne + Nagel International AG.

Asia-Pacific leads market growth, fueled by economic expansion, urbanization and government investment in modern logistics infrastructure. North America remains a major market, supported by advanced technology, regulatory improvements and cold storage investment. India also stands out due to its growing population and government-backed initiatives such as the Pradhan Mantri Kisan Sampada Yojana.

Cold storage continues to dominate the market’s service segments, especially in preserving pharmaceuticals and perishable goods. Third-party logistics providers (3PLs) play a growing role in delivering end-to-end cold chain solutions.

Recent developments include Americold’s US$24-million acquisition of Safeway Freezers in New Jersey, and a US$48-million investment by United States Cold Storage in Tennessee to support clients like Unilever. Lineage Logistics has also expanded its footprint in New Zealand, while Nichirei Logistics Group is building capacity through mergers in Europe.

The report highlights a shift toward sustainability, improved regulatory standards and enhanced last-mile delivery as key trends shaping the sector’s future.