Researchers say refrigerated transport to hit $93B by 2019
DALLAS, TX – The global refrigerated transport market is expected to grow to US $93.67 billion by 2019, at a compounded annual growth rate of 15.2%, according to research firm MarketsandMarkets.
The company, which has released a new report on the topic, says the market for refrigerated transport has matured in regions such as North America and Europe due to the steady demands and consumption rate for perishable foods.
In 2013, the North American region was the largest refrigerated transport market, wherein the U.S. dominated this market. The market for refrigerated transport in the Asia-Pacific region is the estimated to be the fastest-growing market from 2014 to 2019.
Furthermore, there is increasing demand for a well-organized refrigerated transport market in developing countries.
MarketsandMarkets says government initiatives and shift in consumer taste and preferences such as high-protein foods and frozen foods is estimated to spur the growth of refrigerated transport market.
Details are behind a pay-wall, but the report provides features analysis of the refrigerated transport market segmented by mode of transport: road, rail, sea, and air.
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