The constant upgradation in lifestyle creates a demand for ingredients that are often exotic. But such products seldom match the demographic criteria. This is just one problem of dreaming a fine life. The other comes with the health standards. The greater the demand for a tranquil life, the more the need for advanced medicines for maintaining a safe health standard.
Cold chain monitoring is a perfect solution to cancel out such crises. The first problem requires better storage facilities to extend the shelf life of consumables and the second requires medicines to be preserved to keep its functional level intact. Such endeavors would always create space for the global cold chain monitoring market expansion.
This has been predicted by Market Research Future (MRFR) in their latest article on the said market where they have also claimed a possibility for 9.6% CAGR during the forecast period (2018-2023).
Flavors of the World to Tickle Taste Buds
Traveling to distant lands to taste local, authentic foods is now a thing of passé. It has changed with the introduction of cold chains. The system uses tools that can control the temperature and vehicles to transport solve the angles of logistics.
This effort to preserve and extend the shelf life of products has given food and beverages sector a fresh lease of life. The distant cuisines of Tiber now can serve people in a Peruvian city with the help of this cold chain monitoring technique.
It has expanded substantially as the marketing strategies developed by food and beverage giants, popping up of eateries, rising disposable income, entertainment channels promoting cooking shows, and others are impacting the import of exotic products positively.
Pharmaceuticals to Set New Trends
The healthcare industry along with various research centers are in the line to take the maximum advantage of this cold chain monitoring system. Often the healthcare industry faces a demand for medicines and vaccines that requires shipments of cargo from one distant place to another.
The same is true for research facilities where they transport samples to one place from the other. These temperature sensitive products often require safe passage and an understanding or the chemical or biological processes regarding the product’s perishability.
In such cases, cold chain monitoring market emerges as a real savior. Both industries are witnessing how pervasively the cold chain monitoring market can impact. Recent cases like the outbreak of Ebola and other diseases required sampling and proper finding of medication, which the international organizations did to stop any major outbreaks.
Evolving Chemistries in the Industry
Since the beginning with Frederick McKinley Jones and his mobile refrigeration technology, the cold chain monitoring market started taking little steps at a time to evolve. But, at present, the growth is in leaps and bounds. Industries like chemical, with its all-encompassing wings, are showing keen interest in optimum usage of the system.
Transferring of chemicals from one facility to the other without any hindrance, while maintaining the highest safety level possible is an advantage that cold chain monitoring industries offer and the chemical industry wants to exploit.
What’s in Store?
AI has given logistics a free-hand in managing cargo or shipments with real-time data. This has revolutionized the sector. The biggest barrier this industry faces is the dwindling temperature due to the malfunctioning of any tools or external pressures.
But AI and other equipment are now providing real-time data to check the status of the shipment and trigger measures accordingly. One such program is Frigga’s latest Z9/Y9 real-time monitoring solution that is now available for commercialization. It was given the go-ahead by customers in Spain and the U.S.
The cold chain monitoring market is gaining momentum due to its ability to provide temperature control in both static or on-the-go situations. Food & beverage segment, along with pharmaceuticals and healthcare industries, are expected to reap benefits of this industry.