Global Refrigerated Container Shipping Market Size to Exceed 35.41 Billion by 2033: Market Size Report

Global Refrigerated Container Shipping Market Size to Exceed 35.41 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Refrigerated Container Shipping Market Size is Expected to Grow from USD 19.46 Billion in 2023 to 35.41 Billion by 2033, at a CAGR 6.17% during the forecast period 2023-2033.                      

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Refrigerated Container Shipping Market Size, Share, and COVID-19 Impact Analysis, By Transportation (Seaways, Roadways, and Railways), By Application (Fruits and Vegetables, Meat Products, Dairy Products, Vaccines and Biologicals, Pharmaceuticals, Chemicals, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033.                         

The refrigerated container shipping market is the global industry for the shipping of temperature-controlled products in refrigerated containers (reefers). The containers have refrigeration units installed to preserve temperature requirements, keeping perishable products such as fresh food, dairy, meat, seafood, pharmaceuticals, and chemicals safe during transport. Moreover, the refrigeration container shipping market is spurred by the growing demand for fresh food, drugs, and chemicals, the expansion of global trade, and the innovation of cold chain logistics. Growing demand for fresh and frozen foods, growth in e-commerce, and smart reefer container adoption with IoT tracking additionally drive the market. Trends for sustainability also propel energy-saving reefer innovations. However, the refrigerated container shipping market is encumbered by restraints such as high operational costs, energy usage, supply chain breakdown, limited infrastructure in developing nations, and stringent regulation compliance for temperature-sensitive products, affecting market growth.

The seaways segment accounted for the largest share of the global refrigerated container shipping market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on transportation, the global refrigerated container shipping market is divided into seaways, roadways, and railways. Among these, the seaways segment accounted for the largest share of the global refrigerated container shipping market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is driven by high-volume international trade in perishable products, low-cost long-distance transport, and the growth of cold chain logistics. Ocean transport is still the mode of choice for shipping high volumes of food, pharmaceuticals, and chemicals around the world.

The fruits and vegetables segment accounted for a substantial share of the global refrigerated container shipping market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the application, the global refrigerated container shipping market is divided into fruits and vegetables, meat products, dairy products, vaccines and biologicals, pharmaceuticals, chemicals, and others. Among these, the fruits and vegetables segment accounted for a substantial share of the global Refrigerated Container Shipping market in 2023 and is anticipated to grow at a rapid pace during the projected period. This is pushed by its widespread availability, cost-effectiveness, and environmentally friendly characteristics. Most commonly applied in building and interior finishing, natural Refrigerated Container Shipping is favored for its purity, superior bonding power, and sustainability over synthetic products. 

Asia Pacific is projected to hold the largest share of the global refrigerated container shipping market over the projected period.  

Asia Pacific is projected to hold the largest share of the global refrigerated container shipping market over the projected period.This is driven by strong agri-exports, increased frozen and chilled food demand, and growing pharmaceutical logistics. Key export nations such as China, India, and Australia and robust trade networks and infrastructure make the region stand out in the business of refrigerated shipping.

The Middle East & Africa is expected to grow at the fastest CAGR of the global refrigerated container shipping market during the projected period. This is driven by growing food imports, growing pharmaceutical demand, and growing cold chain infrastructure. Urbanization, dietary shifts, and government spending on logistics and ports further drive market growth in the region.

Company Profiling 

Major vendors in the global refrigerated container shipping market are A.P. Moller - Maersk A/S, China International Marine Containers (Group) Co. Ltd., MSC Mediterranean Shipping Company S.A., Hapag-Lloyd AG, Singamas Container Holdings Ltd., Seaco Srl, Triton International Ltd., Ocean Network Express Pte. Ltd., ZIM Integrated Shipping Services Ltd., SeaCube Container Leasing Ltd., BSL Containers Ltd., Almar Container Group., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development 

• In November 2023, Maersk started building its large cold storage facility in Rotterdam, The Netherlands. The cutting-edge warehouse, located strategically near the APM Terminals (Maasvlakte) II terminal, will be used for storage of cold-sensitive or frozen products like pharmaceuticals, fruits, meat, and fish. Scheduled to open in Q4 2024, the complex will have an amazing annual flow throughput volume of over 43,000 ftf (40 feet equivalent units). It will be an integral part of Maersk's integrated logistics offer, meeting the demands of its North-Western Europe customer base.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global refrigerated container shipping market based on the below-mentioned segments:   

Global Refrigerated Container Shipping Market, By Transportation

• Seaways
• Roadways
• Railways

Global Refrigerated Container Shipping Market, By Application

• Fruits and Vegetables
• Meat Products
• Dairy Products
• Vaccines and Biologicals
• Pharmaceuticals
• Chemicals
• Others

Global Refrigerated Container Shipping Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa