3PL In Cold Chain Logistics Market size was USD 431.56 Billion in 2024 and is expected to reach USD 990.99 Billion by 2035, growing at a CAGR of 19.34 % during the forecast period 2024-2035.
The increasing need for temperature-controlled logistic solutions to transport biologics across geographies, and the increase in biopharmaceutical companies’ distribution networks to expand their sales, are the key drivers for the growth of the market. One of the dominant trends in pharmaceutical logistics organizations has been the growing adoption of automated storage and retrieval systems in developing nations. This trend has picked up a significant momentum over the past few years. The Global 3PL In Cold Chain Logistics Market report presents a complete picture of the market. The report provides a critical analysis of the key segments, trends, drivers, restraints, competitive scenario, and factors that are having a significant impact on the market.
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Global 3PL In Cold Chain Logistics Market Overview
The growing demand for food safety and quality assurance, the growing demand for third-party logistics outsourcing services, and growing numbers of third-party logistics providers and logistics companies are all helping to drive the market forward. Collaborations between third-party providers and manufacturers to improve the supply chain are expected to increase the revenue growth of the global 3PL In Cold Chain Logistics Market in the coming years, as per the study. Conversely, a lack of rightly qualified drivers for transport and the extensive amount of capital investment demanded by companies might restrict the overall growth of the market.
In addition, the market would be fueled by the shift away from small molecule drugs and towards biopharmaceuticals, which would principally comprise biologics and vaccines. As these small-molecule drugs are temperature-sensitive products, there is an increased demand for cold chain transportation and storage, which is driving the market’s growth.
3PL In Cold Chain Logistics Market, By Type
Warehousing
Transportation
Airways
Roadways
Waterways
According to Type, the market is divided into Warehousing and Transportation. A huge space where goods are stored are referred to as the warehouse. To offer temperature-sensitive and optimal storage conditions for various products and changing market demands, Companies are investing in their cold chain operations, to develop efficient, reliable processes and effective connections in their services. Warehousing is the leading segment in the business type market. In Vietnam, in recent years, the food processing industry has grown. Further in 2019, demand for refrigerated transport for the pharmaceutical market and food has grown to $10 billion. Expansion of the facility network near the port of Georgia, Savannah has also aided in the process of use of refrigerated instruments. Therefore, the total growth in the number of warehouses across the globe drives 3PL In Cold Chain Logistics Market growth.
3PL In Cold Chain Logistics Market, By Application
Food Cold Chain Logistics
Pharmaceuticals Cold Chain Logistics
Others
According to Application, the market is divided into Food Cold Chain Logistics, Pharmaceuticals Cold Chain Logistics, and Others. Treatment-related hormone shipment, creation of intricate medicines, vaccines everything needs a temperature-controlled warehouse and transportation. The pandemic of covid-19 resulted in the overall growth of cold chain logistics in the pharmaceutical sector. Shipping vaccines globally alone resulted in a 6% increase in the pharmaceutical cold chain logistics industry. Growing need for domestic logistics, coupled with positive government initiative and policies, seems to foreshadow an optimistic future for the biopharmaceutical third-party logistics business too.
3PL In Cold Chain Logistics Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
Based on Geography, the Global 3PL In Cold Chain Logistics Market is divided into North America, Europe, Asia Pacific, and the Rest of the world. In 2020, the Europe region will possess the largest market value, with a total of USD 65.57 billion invested there. The sudden growth in demand for perishable food consumption in the region is driving the expansion of the cold chain industry in the nation. Due to the growth of the retail industry in the region, the Asia Pacific region will possess the second-largest market value in 2021, which will be USD 40.57 billion. Throughout the forecast period, Asia Pacific is likely to register the highest compound annual growth rate (CAGR) of 7.2 percent due to the adoption of drugs by an aging population and a shift in medicines sale from brand companies to generic players.
Key Players
The “Global 3PL In Cold Chain Logistics Market” market study report will give a beneficial insight with focus on global market with some of the prominent players like NewCold Cooperatief U.A., Burris Logistics, DSV, AGRO Merchants Group, Preferred Freezer Services, Gruppo Marconi Logistica Integrata, Lineage Logistics Holding LLC, Kloosterboer, DHL Supply Chain & Global Forwarding, and CWT Limited.
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