Top Five Trends Move the Cold Chain Industry to the Next Level: Capacity, Last Mile, and Security become Important
There is now a good deal of awareness of the need for proper cold chain management in the storage and transportation of temperature-sensitive products in the pharmaceutical and food industry. In particular, there is now increasing pressure on manufacturers and logistics providers alike to ensure that regulatory requirements are met, and safety or integrity of products is not compromised – especially so when the lives of patients are at stake.
According to market research firm TechNavio, the global cold chain market is set to grow at a CAGR of 15.75 percent and 10.53 percent in terms of revenue and volume, respectively, over the period 2014-2019. If defines ‘cold chain’ as supply chain management that involves storage and transportation of temperature-sensitive goods, using thermal and refrigerated packaging methods to help with the transportation and storage of those goods, and utilizing extensive logistics planning to ensure the integrity of these goods.