According to an Oct. 2020 “Cold Chain Market: Global Forecast to 2025” report from MarketsandMarkets, the global cold chain market size for refrigerated and frozen foods is estimated at a value of $233.8 billion in 2020, with growth projected to reach $340.3 billion by 2025, recording a CAGR of 7.8 percent. A key component to this growth is advancement of new technologies.
The report notes that the ongoing COVID-19 pandemic has catalyzed demand for cold chain warehousing and distribution. One of the key benefits resulting from adopting refrigerated or frozen warehousing and distribution is potentially extending product shelf life, a benefit to shoppers seeking to store more perishable foods like some snacks and baked goods for longer periods for increased food security.