Reefer container market to reach $10,055.2 million by 2034, driven by global trade, e-commerce and perishable goods boom in US, China and India

Driven by the growth of global food trade, booming e-commerce and the growing pharmaceutical sector, the refrigerated container market is witnessing significant growth. This demand is particularly strong in regions such as India, ChinaAND United States. Advances in temperature control technology are further driving the market by ensuring the freshness and safety of transported perishable goods.

NOWARK, Del., June 4, 2024 /PRNewswire/ — According to Future Market Insights, global reefer container market grows in A CAGR of 3.9%Priced at $6,858.6 million in 2024 and is expected to exceed USD 10,055.2 million until 2034. Reefer containers are in high demand because they are essential for transporting perishable goods such as vaccines, fresh produce and seafood across borders while maintaining specific temperature ranges.

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The expansion of the pharmaceutical and nutraceutical industries, global food trade and the development of e-commerce are considered to be the main factors driving this growth. This is especially noticeable in countries such as India, ChinaAND United States. The industry is also benefiting from growing demand for fresh and exotic foods year-round, as well as the growth of e-commerce in emerging economies.

Technological advances in reefer containers, such as advanced temperature monitoring systems and IoT integration, are also boosting reefer container sales. These innovations improve insulation and energy efficiency and enable real-time monitoring of temperature and humidity. However, challenges such as high investment costs and susceptibility to temperature fluctuations and mechanical failures hamper the industry’s growth, leading to quality and safety issues for perishable cargo.

“Continuous investment in research and development is key in this industry. Companies operating in the reefer container market need containers equipped with improved temperature monitoring systems, energy-efficient refrigeration solutions and remote monitoring capabilities to improve the performance, reliability and sustainability of their products,” says Ismail Sutaria (Principal Packaging and Materials Consultant at Future Market Insights, Inc.).

Key conclusions from market research

The 20- to 40-foot reefer container segment dominates the global reefer container market with a share of 45% in 2024.
In terms of end-use, the healthcare segment leads the reefer container market with a share of 28% in 2024.
The refrigerated container market in India it is projected to grow at a CAGR of 4% by 2034.
The refrigerated container market in South Korea it is estimated to grow at 3.9% CAGR by 2034.
The refrigerated container market in Thailand has the potential to grow at 4% CAGR by 2034.
United States The reefer container market is expected to grow at 3.7% CAGR by 2034.
The refrigerated container market in United Kingdom it will most likely grow at a CAGR of 3.4% by 2034.

Competitive environment

The reefer container industry remains competitive despite slow growth as numerous companies dominate global revenues.
These companies have a strong position not only on domestic but also international markets.
They offer a wide range of reefer container sizes, configurations and features to meet the specific needs of various industries and customers.
As awareness of environmental issues increases, companies are increasingly incorporating sustainability initiatives into their operations
Leading companies in the industry include Maersk Container Industry, Daikin Reefer, Carrier Transicold and Thermo King.

Last changes:

IN March 2024Seatrade has introduced innovative “village class” refrigerated container ships, starting with the Mv “Seatrade Chile”, designed with 640 refrigerated plugs to meet industry demands.
IN December 2023BLR Logistiks has expanded its fleet with refrigerated containers equipped with advanced technology to maintain cargo integrity during transportation in various industries.

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About the author:

Ismail Sutaria (Principal Packaging and Materials Consultant at Future Market Insights, Inc.) has over 8 years of experience in market research and consulting in the packaging and materials industry. Ismail’s strength is in identifying the key challenges a client faces and offering logical and actionable insights to empower clients to make strategic decisions.

Ismail has played a key role in several transformation consulting engagements. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis and business transformation consulting. Ismail holds an MBA in Marketing and a BA in Mathematics.

Ismail regularly attends conferences and trade shows and his topic is widely discussed in electronic and print media. He is a speaker on our upcoming talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications including the European Pharmaceutical Review and the European Self-Adhesive Association.

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