Global Food Logistics Market to Grow at a CAGR of 8% During 2024-2032, Aided by Increasing Technological Advancements

The growth of the food and beverages industry in both developing and developed countries is expected to aid the growth of the market for food logistics in the forecast period. The market is witnessing robust growth in the Asia Pacific region. This could be attributed to the rising industrialisation, increasing domestic consumption, and evolving dietary practices in the region. The surging demand for premium foods, such as meat and dairy, is also catalysing the industry growth as it requires cold chain supply service in food logistics. Moreover, increasing digitisation in countries such as China, India, and South Korea and the growth of online grocery platforms, such as Alibaba, Big Basket, and Coupang, respectively, are anticipated to boost the market. The market is also witnessing significant growth in North America and Europe. The industry is driven by the increasing demand for foreign food products and evolving technological advancements.

The leading players of the market are constantly transforming and fastening their supply chains in order to ensure better service. Matson Logistics (NYSE: MATX), one of the key players in the food logistics industry, has done various mergers and acquisitions to increase its service. In July 2016, the company announced that it is going to acquire Span Alaska to expand its platform and focus on customer service and reliability. Also, in March 2020, the company announced that it is going to be merged with Blume Global to increase visibility and optimise utilisation for intermodal containers. It enables it to improve user experience and results in enhanced inventory management, demand fulfilment, tracking and execution, customised reporting, and financial services. Moreover, it facilitates collaboration between multiple asset owners and classes, further aiding the market growth.

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Market Analysis by Segment, Product, Transportation Mode, Service Type, and Region:

• The market, on the basis of segment, can be divided into transportation, packaging, and instrumentation.
• Based on products, the industry can be divided into dairy products, bakery and confectionary, processed food and vegetable oil, fish, meat, and seafood, fruits and vegetables, fruit pulp and concentrates, and coffee and tea, among others.
• On the basis of transportation mode, the industry is categorised into airway, seaway, roadway, and railway.
• The service type for food logistics include cold chain and non-cold chain.
• The regional markets for food logistics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The robust growth of the food and beverage industry due to the rising demand for convenience food is catalysing the market growth.
• The market is driven by technological advancements and innovations such as artificial intelligence and the Internet of Things (IoT).
• The rising demand for globalised food and the usage of a cold supply chain are aiding the market growth.
• The increasing emphasis on food quality and transparency and stringent government policies on food safety is invigorating the industry growth.
• The surging e-commerce platforms and the growth of the online retail sector are boosting the market for food logistics. 

Key Offerings of the Report:

• The EMR report gives an overview of the global food logistics market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the segments, products, transportation modes, service types, and regions of food logistics.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models. 

The major players in the global market for food logistics are AmeriCold Logistics LLC, Dachser Group SE & Co. KG, AJC International, Inc, CJ Logistics Corporation, C.H. Robinson Worldwide, Inc., Matson, Inc., and Hellmann Worldwide Logistics SE & Co. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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