LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global perishable goods transportation market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sharan Raj, a lead analyst from Technavio, specializing in research on the logistics sector, says, “The rise in the global population is a factor that is contributing to the growth of the perishable goods transportation market. The growing population and the food wastage due to spoilage mandate the need for food preservation for longer periods to deal with the subsequent shortage of food.”
The strong need for transporting temperature-sensitive food and beverage products that include milk, meat, dairy products, and processed food will propel the demand during the forecast period. Millions of cases of food and beverage products are delivered to hotels, restaurants, universities, and hospitals. The transportation of these products from their storage supply to the required destination requires a high-level of coordination in the supply chain, as the products will perish if not stored under the right temperature.
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The top three emerging trends driving the global perishable goods transportation market according to Technavio’s transportation and logistics research analysts are:
Integration of GPS tracking and temperature monitoring systems
When perishable goods such as vegetables, meat, and fruits are transported, especially over long distances, the temperature needs to be maintained throughout transit. During equipment failure, the temperature in the trucks and trailers changes, resulting in the spoilage of goods.
“To avoid the huge loss of goods, manufacturers have started installing temperature monitoring systems in the refrigerated units. Through the temperature monitoring system, a temperature alarm is set in each truck or trailer that is monitored either through fleet management software or intelligent alarm units,” according to Sharan.
Implementation of advanced technologies in refrigerated cargo
Technology is the key factor to ensure effectiveness, durability, and safety. There is considerable investment in IT infrastructure and devices giving real-time data on temperature and location of cold chain products. For international shipments and high-value goods, independent tracking sensors are used to identify the temperature of refrigerated cargo.
Companies are installing 3D scroll compressors. These scroll compressors, also called spiral compressors, are devices used for compressing air or refrigerant. They are primarily used in air conditioning equipment and to increase the equipment efficiency.
Sustainable initiatives by manufacturers
An increase in environmental awareness has raised concerns over vehicular pollution. Shippers are also concerned about other sources of pollution, such as recycling units and secondary sources of pollution caused by packaging and warehousing. Shippers now tend to choose a vendor that has a smaller carbon footprint and generates fewer pollutants. To overcome these issues, refrigerated transport providers are more frequently preferring to use eco-friendly electric vehicles that run on renewable sources of energy.
Several companies have already moved toward the GoGreen concept. Also, some companies are following green logistics concepts, which are mainly related to fleet management, green storage and packaging, logistics environment management, alternative fuel implementation, green transportation, and logistics innovation. These changes will promote the adoption of green logistics in transportation.
The key vendors are as follows:
- C.H. Robinson
- Maersk Line
- Swift Transportation
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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