CSCMP's Supply Chain Quarterly
December 17, 2017
Supply Chain Executive Insight E-Newsletter
Each week the Supply Chain Executive Insight e-newsletter will include brief articles about developments that are often overlooked by other supply chain publications. We will present you with summaries of the latest research as well as new ideas on how to make your supply chain operations more effective. And we'll offer commentary that sheds light on what's happening in supply chains today.
Sign up now!

Most Read Articles

News from our sister publication
DC Velocity
Forward Thinking

Cold chain monitoring market to reach US $6.23 billion by 2022

Comment
A market research report predicts that increased regulation of the food and pharmaceuticals industries could double the value of the cold chain market from its 2015 level.

The cold chain monitoring market is on pace to double in value by 2022, growing from US $3.11 billion in 2015 to US $6.23 billion by 2022, in response to rising pharmaceutical regulations and food and beverage demand, a study shows.

That growth would represent a compound annual growth rate (CAGR) of 9.84 percent over the five-year period, due to the strict regulatory environment in the pharmaceutical industry, the growing demand for quality food, and the rising need to reduce wastage of food in the food and beverages industry, according to a report from Markets and Markets, a Pune, India-based market research firm with U.S. offices in Seattle.

Companies affected by the trend would include providers of cold chain monitoring technology and equipment, such as environmental sensor vendors NXP Semiconductors N.V. (Netherlands) and NEC Corp. (Japan), as well as complete solution providers like Sensitech Inc. (U.S.), Orbcomm Inc. (U.S.), and Berlinger & Co. AG (Switzerland), the study found. These companies will see rising demand for hardware components such as sensors and data loggers during the forecast period.

Storage logistics providers will also see steep growth, Markets and Markets said. Increased demand will call for them to monitor and manage refrigerated resources and speed those delicate goods throughout the stages of the cold chain, from production sites to distribution centers to final retailers.

By geography, the Asia Pacific (APAC) region will see even faster growth than its neighbors, due to growing demand for food; an increase in the segment of the population relying on medication; and rapid urbanization worldwide. In order to meet that demand, businesses will turn to technological advancements in cold chain monitoring solutions and growing awareness about the quality of the resources maintained under refrigerated temperatures, the report found.

Join the Discussion

After you comment, click Post. If you're not already logged in, you will be asked to log in or register.


Want more articles like this? Sign up for a free subscription to Supply Chain Executive Insight, a monthly e-newsletter that provides insights and commentary on supply chain trends and developments. Click here to subscribe.

We Want to Hear From You! We invite you to share your thoughts and opinions about this article by sending an e-mail to ?Subject=Letter to the Editor: Quarter : Cold chain monitoring market to reach US $6.23 billion by 2022"> . We will publish selected readers' comments in future issues of CSCMP's Supply Chain Quarterly. Correspondence may be edited for clarity or for length.

Want more articles like this? Subscribe to CSCMP's Supply Chain Quarterly.