Refrigerated Sea Transportation Market Overview
Market Research Future published a raw research report on the global refrigerated sea transportation market that contains the information from 2022–2027.
The Refrigerated Sea Transportation Market Share is anticipated to register a ~6.8% CAGR between 2021 and 2027 and reach an approximate value of USD 12.48 billion in 2027.
In 2020, the MR grade segment helda significant market share: MRFR
The refrigerated sea transportation market is classified based on container type, product type, application, and region. Based on container type, the global market is divided into 20 feet, 40 feet, 40 feet high-cube, 45 feet high-cube, and others. The 40 feet container segment is anticipated to hold a significant market share owing to its compact size and economical prices compared with other containers. Other types of containers are also expected to occupy significant market sharesdue to the increased demand for sea transportation solutions across the globe.
Based on application, the global refrigerated sea transportation market is segmented into food & beverages, pharmaceutical, and others. The food & beverage segment is anticipated to hold a significant market share owing to the growing consumption of exotic perishable products globally. Refrigerated sea transportation is utilized to transport temperature-sensitive, perishable cargo such as fruits, vegetables, meat, fish, seafood, dairy, and other similar items.
By product type, the refrigerated sea transportation market is segmented into chilled and frozen. The chilled segment accounted for the larger share in the global market due to a surge in international imports and exports due to growing diplomatic and economic ties across the globe. The chilled product segment also holds a substantial share in the refrigerated sea transportation market due to the rise in demand for exotic perishable foods globally.
Based on region, the refrigerated sea transportation market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific dominated the refrigerated sea transportation market in 2020. The constantly growing meat & seafood industry has supported product demand. The growth of retail food chains is expected to spur the demand for the cold chain logistics industry over the forecast period, consequently increasing the demand for refrigerated sea transportation solutions in this region.
Industry News
In February2021, Germany-basedKuehne+Nagel (K+N) entered into a binding agreement to acquireChina-based freight forwarder Apex International Corporation, one of the leading freight forwarders in Asia, with a major focus in the Transpacific and intra-Asia regions.
In July 2021, Kuehne+Nagel expanded its perishables network with the acquisition of Norway-based Salmosped, a perishables freight forwarder specializing in the transportation of seafood products.
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Key industry participants in the refrigerated sea transportation industry include CMA CGM S.A (France), Kuehne + Nagel International AG (Switzerland), DHL International GmbH (Germany), CEVA Logistics (Switzerland), Mediterranean Shipping Company S.A (Switzerland), DSV Panalpina A/S (Denmark), Maersk Line, Limited (US), NYK Line (Japan), Hapag-Lloyd AG (Germany), Hamburg Süd (Germany), Cargo-Partner (Austria), ZIM Integrated Shipping Services (Israel), CSAV (Chile), and Star Reefers (UK).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global refrigerated sea transportation market, including high-growth regions and/or countries and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.
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