LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global perishable goods transportation market to grow at a CAGR of almost 8% during the forecast period, according to their latest market research report.
The adoption of eco-friendly vehicles is one of the major trends being witnessed in the global perishable goods transportation market 2018-2022. In the recent years, the increased environmental awareness has raised concerns over vehicle pollution. Thus, shippers now tend to choose vendors that have a lesser carbon footprint and generate fewer pollutants. To address environmental pollution, refrigerated transport providers are using eco-friendly electric vehicles.
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According to Technavio analysts, one of the key factors contributing to the growth of the global perishable goods transportation market is the growth of organized retail sector:
Global perishable goods transportation market: Growth of organized retail sector
The organized retail sector has been exhibiting considerable growth in developing countries due to urbanization. The retail sector in countries such as India has started securing more market shares. The increasing urbanization has led to consumers making household purchases from the organized retail sector. The global food and consumables market accounts for 60% of the total global retail.
According to a senior analyst at Technavio for research on life science research tools, “The food and consumables segment exhibits a significant untapped potential for vendors of the organized retail sector in developing countries. This has led to several major retail vendors to expand their presence across the globe. Thus, the organized retail sector by food and beverages segment is considered as one of the key volume drivers for the global perishable goods transportation market.”
Global perishable goods transportation market: Segmentation analysis
The global perishable goods transportation market research report provides market segmentation by end-user (meat, poultry, and seafood, dairy, fruits and vegetables, and bakery and confectionery) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major end-users, the meat, poultry, and seafood segment held the largest market share in 2017, contributing to nearly 39% of the market. This segment is expected to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 37% share. It was followed by EMEA and APAC respectively. APAC is anticipated to post the highest growth during the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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