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Written by rockyrai » Updated on: November 08th, 2024
IMARC Group’s report titled "Food Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global food logistics market share. The global market size reached US$ 114.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 211.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/food-logistics-market/requestsample
Factors Affecting the Growth of the Food Logistics Industry:
Increasing advancement in supply chain management technologies, including automation, Internet of Things (IoT), artificial intelligence (AI), and blockchain, represents one of the key factors impelling the market growth. Automation and robotics help to enhance warehouse operations, leading to higher efficiency and reduced operational costs. Additionally, IoT enables real-time tracking and monitoring of food products, ensuring freshness and reducing spoilage. AI optimizes logistics routes and predicts market demand, thereby streamlining inventory management. In addition, blockchain technology offers unparalleled transparency and traceability in the food supply chain, thereby boosting consumer trust. These technological innovations not only enhance operational efficiency but also play a crucial role in complying with stringent food safety regulations.
The growing preferences for fresh and perishable foods, as consumers are becoming more health-conscious, is driving the demand for fresh produce, dairy products, and other perishable goods. This shift necessitates more sophisticated and faster logistics solutions to maintain the quality and freshness of these products during transportation and storage. Additionally, the rising popularity of online grocery shopping platforms, which offer convenience to buyers, is supporting the market growth. Online grocery retail requires efficient logistics networks to manage the timely and safe delivery of food products to the doorsteps of the buyers. This trend is also leading to higher investments in cold chain logistics, advanced refrigerated transportation, and warehouse management systems.
The rising awareness about food safety, sustainability, and ethical sourcing represents one of the key factors impelling the market growth. Modern consumers demand transparency in the food supply chain. This demand for traceability is prompting companies to invest in advanced tracking and tracing technologies. These systems include radio-frequency identification (RFID) and global positioning system (GPS) tracking, which allow businesses to provide consumers with detailed information about the journey of the product from farm to table. This level of transparency not only builds consumer trust but also helps in adhering to regulatory standards and managing recalls more efficiently.
Leading Companies Operating in the Global Food Logistics Industry:
Food Logistics Market Report Segmentation:
By Transportation Mode:
Roadways represent the largest segment due to their extensive network, flexibility, and cost-effectiveness in transporting food products over short to medium distances.
By Product Type:
Fish, shellfish, and meat hold the biggest share attributed to the increasing demand for these protein-rich foods and their need for specialized handling and refrigeration during transport.
By Service Type:
Cold chain services exhibit clear dominance in the market as it caters to the growing need for temperature-controlled environments to maintain the quality and safety of perishable food items during storage and transportation.
By Segment:
Transportation accounts for the majority of the market share due to its pivotal role in ensuring the timely and efficient movement of food products from producers to consumers.
Regional Insights:
North America dominates the market on account of its advanced logistics and transportation infrastructure, growing consumer base, and rising demand for various food products.
Global Food Logistics Market Trends:
The increasing adoption of environmentally sustainable practices due to growing awareness about climate change and environmental degradation is driving the demand for green logistics solutions. This trend is encouraging innovation in eco-friendly transportation modes, such as electric vehicles (EVs), biodiesel trucks, and sustainable packaging materials. Companies are also focusing on reducing food miles by optimizing routes and localizing supply chains. Additionally, the implementation of energy-efficient practices in warehousing and cold storage is gaining momentum. This shift towards sustainability is not only a response to consumer demand but also aligns with international efforts to reduce carbon emissions and promote environmental stewardship in the food industry.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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