Food Logistics Market is Growing at a CAGR of 8.1% During 2022-2027
The global food logistics market reached a value of US$ 100.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 154.5 Billion by 2027, exhibiting a CAGR of 8.1% during 2022-2027.
Logistics refers to the detailed flow of the products from the point of origin to the point of consumption. It helps in planning, controlling as well as implementing the storage and flow of goods and services. Food logistics also aid in meeting the requirements of corporations and consumers by maintaining a continuous supply of products. Transportation and logistics providers use different equipment, expertise, and technologies, to control and improve the supply chain operations. As a result, logistics plays a crucial role in the food industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Americold Realty Trust (COLD:NYSE) , Deutsche Bahn (DB) Schenker AG, C.H. Robinson Worldwide, Inc., Schneider National, CaseStack, A.N. Deringer, Inc., Echo Global Logistics, Inc., Evans Distribution Systems, Inc., Hellmann Worldwide Logistics SE & Co. KG, Matson Logistics, Odyssey Logistics & Technology Corporation.
Global Food Logistics Industry Trends:
Significant growth of the e-retail in the food and beverages sector is primarily driving the market for food logistics. Furthermore, the rise in the working population, elevating disposable income levels, and the hectic schedule of the consumers, have provided a thrust to the online retail channels, thereby augmenting the demand for food logistics.
Besides this, the incorporation of artificial intelligence (AI) technology with logistics services has increased delivery efficiency as the AI algorithms facilitate intelligent route mapping and reduce delivery time without damaging the perishable goods. Other factors, like improving distribution networks and infrastructure in developing regions and the adoption of new technologies by logistics providers to enhance their business processes, are further expected to drive the market growth.
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