A perishable good is a product in which quality deteriorates due to environmental conditions through time, such as meat and meat by-products, fruit and vegetables, dairy products, flowers, pharmaceutical products, fish and seafood and chemicals. Due to their few characteristics, they have short lifespans.
The Global Perishable Goods Sea Transportation Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
The global perishable goods sea transportation market is expected to grow during the forecast period. The growth of the refrigerated transport market is attributed to the rising trade of perishable commodities at a global level, as lower tariffs enable ease of cross-border movement of perishable goods. An increase in the demand for perishable is of the major factors driving the growth of this market.
Rising demand for processed food.
With the growing urban and young population, demand for processed food items in India is set to increase in the coming years. The food processing industry needs to gear up to meet the demand by investing in necessary infrastructure. The slow pace of urbanisation and low labour force participation of women has resulted in the preference for fresh foods. The increase in the size of the food processing market can be attributed to changing consumption patterns due to urbanization, changes in the gender composition of the workforce, and growing consumption rates.
Transportation of goods is important for the global economy. Various methods of transportation are road, marine, rail, and air. Transportation of goods by sea is easy, convenient, and less costly than other methods. It is also vital for the global economy. The need for sea transportation is important due to the increase in demands for goods and services. Globalization has influenced the eating habits of people. Changing lifestyles, urbanization, trade liberalization, increase in income of the people, foreign investments, and market integration are the major factors that affect food preferences across the globe.
COVID-19 Impact Analysis
Due to lockdown, owing to COVID-19, the perishable goods sea transportation market has declined drastically. The demand for food coming from transportation has decreased due to hygiene issues and safety measures. People are preferring more homecooked food rather than food coming from transportation. People were afraid to eat food from the sea.
Based on the type, the global perishable goods sea transportation market has been classified as chilled and frozen products.
The frozen food segment is accounted for the highest share during the forecasting period
Frozen food holds the maximum share as frozen foods save time spent shopping, and they allow consumers to eat foods out of season, thereby expanding the range of flavours and ingredients available. Most important of all, the freezing process locks in goodness: the sooner food is frozen, the more nutrients are preserved. So people prefer more frozen food than chilled food. This has led to an increase in the demand for frozen food.
Based on geography, the study analyzes the Global perishable goods sea transportation market in the global market, including Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
Asia-pacific leads the Global perishable goods sea transportation market throughout the forecast period
Asia-Pacific is witnessed to dominant the global perishable goods sea transportation market in terms of revenue share. The Asia Pacific is projected to lead the global perishable goods sea transportation market due to the high production of goods/commodities and strong supply chain. China dominates the global shipbuilding industry and export business. The country accounts for a major share of exports from the Asia Pacific. Latin America is expected to experience higher demand for refrigerated sea transportation due to an increase in the export of goods and commodities to Europe and North America.
Global perishable goods sea transportation markets are highly competitive. The key players in the global perishable goods sea transportation market which are contributing to the growth of the global market include C.H. Robinson, Ingersoll Rand, Maersk Line, NYK Line, Hapag-Lloyd, CMA CGM, Swift Transportation, MOL, Comcar Industries, Inc, CRST International
Overview: C.H. Robinson is an American Fortune 500 provider of multimodal transportation services and third-party logistics (3PL). The company offers transportation management, brokerage, freight transportation and warehousing. It offers truckload, less than truckload, air freight, intermodal, and ocean transportation. The company is headquartered in Eden Prairie, MN, with more than 300 offices and over 15,000 employees. The company has contractual relationships with over 66,000 transportation companies, including motor carriers, railroads, air freight, and ocean carriers.
Product Portfolio: C.H. Robinson offers transportation management, brokerage, freight transportation and warehousing. It offers truckload, less than truckload, air freight, intermodal, and ocean transportation
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The Global perishable goods sea transportation market report would provide access to an approx. 46 market data table, 34 figures and 180 pages.
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