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One driver in cold chain market is rise in trade of frozen food and sea food products. The demand for seafood continues to increase globally, and the significant population growth in China, India, and Brazil constitutes an important demand driver in the frozen fish and seafood industry. Increased demand for seafood has led to a rise in its imports and exports among countries, which require cold storage and transportation. China and Norway were the largest exporters of seafood in 2015. China's exports amounted to $20 billion and Norway exported $10 billion worth of seafood products. While China exported to almost all countries, Norway's exports were mostly to European nations.Complete report on cold chain market spread across 70 pages, analyzing 5 major companies and providing 35 data exhibits are now available at http://www.reportsnreports.com/reports/949176-global-cold-chain-market-2017-2021.html .
The analysts forecast global cold chain market to grow at a CAGR of 12.41% during the period 2017-2021. A cold chain is a type of supply chain that involves the storage and transportation of temperature-sensitive goods. Thermal and refrigerated packaging methods help in the transportation and storage of temperature-sensitive goods. Extensive logistics planning ensures the integrity of these goods. The term cold chain refers to the process of transportation and storage of products and commodities at optimal temperatures. It is a temperature-controlled supply chain process used to maintain ideal storage conditions for different products and commodities. It provides temperature-controlled warehouses for surface storage and refrigerated transport vehicles for physical distribution of products at optimal temperatures. It is used widely to store and transport fruits, vegetables, drugs, and medicines without spoilage. Cold storage increases shelf life and maintains product quality. Cold chain service providers also offer various value-added services that improve the efficiency of the supply chain management (SCM) process.
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Further, the report states that one challenge in market is high cost of diesel and fuel maintenance. Use of diesel fuel is harmful to the environment as it releases black soot that contaminates the air particles and the surroundings. The cost of diesel fuel is also a major concern for refrigerated truck manufacturers. On an average, diesel power refrigeration unit consumes about 3.5 to 4.5 liters of diesel, per hour, costing approximately $1.00 -$1.50 per liter. An average input of 3,000 hours in a year, the cost of fuel for a conventional refrigeration unit will cost $12,000. The maintenance cost of refrigeration units is also expensive due to the complexity of the unit. On an average, the maintenance cost of refrigerated trucks will be $6,500 in a year. Though many vendors in the market have shifted to alternative and cost-effective methods, such as nitrogen systems, most the vendors are still highly dependent on diesel fuel. Nitrogen systems used by many refrigeration transport units cost upwards of $8,000 per year, and almost 55%-60% of the maintenance costs gets reduced.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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