The refrigerated transport market is projected to grow at a CAGR of 15.2% from 2014 to 2019, and poised to show strong growth in the next five years.
North America contributed the most to the inter-trading of perishable foods, hence garnering the largest market share, followed by Europe and Asia-Pacific. The refrigerated transport market is matured in North America and Europe. China and India are the fastest-growing markets in the Asia-Pacific region.
Temperature-controlled road transport is rapidly growing as a mode of transportation for perishables in the U.S. and the U.K. sea transport is gaining on the market share of air freight, particularly in terms of transport for perishables such as fruits and vegetables due to technological advancement.