«Globalization’s impact on perishable logistics is indelible, its mark accentuated by the unfolding technological revolution needed to support effective delivery. The increased consumer demand for quality and speed of delivery is pushing shippers to increase both capacity and efficiency. The evolution of logistics to meet steadily higher expectations and technology’s leaps-and-bounds advances have combined to make the world feel smaller. But certain realities cannot be ignored.. Great distances still pose significant challenges to transporting cargo. Odds of damage increase with every mile. Tighter deadlines drive the potential for haste, which heightens the prospect of error. Nowhere are these factors more prevalent than in the cold chain realm, where the temperature sensitivity of goods widens the array of variables and makes more complex the difficulties already confronting logistics providers. Cold chain demand is rising.
Over the five-year period ending in 2023, the market is expected to swell by more than 45%, from $203 billion to $293 billion, calculating to a compound annual growth rate of 7.6%, according to MarketsandMarkets. The emergence of biologics combined with precision medicine breakthroughs has driven the medical and pharmaceutical industries’ greater reliance on the cold chain. Widening demand in Europe and increased capacity and awareness of food waste risks in the Asia Pacific region are feeding the expansion.»