Cold chain tech revenue projected to exceed AU$10 billion

Thursday, 11 April, 2024

Cold chain tech revenue projected to exceed AU$10 billion

In New York, ABI Research projects that investments in temperature and humidity monitoring solutions are set to surpass US$7 billion (AU$10 billion) by 2032 in the global food industry due to increasing traceability reporting demands. The implementation of the Food Safety Modernization Act (FSMA) in the United States has amplified this trend, mandating enhanced reporting protocols for various food products and impacting the entire US food supply chain, including exporters.

The growing trend of adopting monitoring devices and sensors combined with software solutions among end users highlights the increasing role of real-time monitoring solutions in maintaining food quality and safety standards during transport in refrigerated trucks and containers.

“Beyond regulatory compliance, food waste mitigation is also a key enabler for cold chain monitoring growth in the food industry. Between 7% and 15% of all foods spoil during transport, especially imported produce. The recent rise in food imports into the United States and Canada from Mexico and Central America has further heightened the need for ‘smart’ containers equipped with real-time tracking solutions,” said Adhish Luitel, Supply Chain Management & Logistics Senior Analyst at ABI Research.

These findings are from ABI Research’s Food Value Chain & Regulations in North America and Europe report. 

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