$ 16.9 billion in smart food logistics markets
DUBLIN, June 29, 2021 / PRNewswire / – The “Smart Food Logistics Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.
The global smart food logistics market (hereinafter referred to as the studied market) has been valued at $ 8.12 billion in 2020 and it should reach $ 16.69 billion by 2026, registering a CAGR of 12.7%, over the period 2021-2026.
The smart logistics market in the food industry has emerged from the advantages of facilitating “ease of supply” to tracking parcels in transit. The ability to receive fresh items with real-time access to the movement of food is where intelligent logistics powered by the Internet of Things (IoT) is making a huge difference.
The convergence of logistics and technology, along with collaborative cloud-based solutions that span the entire supply chain, has enabled tight integration of warehouse, transportation and consumer information. final, and transparency throughout the supply chain has been identified. as a key driver of growth in the market studied.
As the digital economy continues to grow, IoT technology has evolved from a futuristic idea to a tactical tool that logistics companies can implement in their supply chain. IoT sensors and tools are transforming traditional asset tracking into smart supply chains that can earn logistics companies a higher return on investment. For the food industry, these IoT enabled sensors provide real-time knowledge of asset / fleet location, fleet travel speed, temperature conditions and other critical data sets.
The sensors further help allied stakeholders to closely monitor food security data points, thus ensuring effective cold chain management. This data helps to comply with local and global regulations. For example, by using automated Hazard Analysis Critical Control Point (HACCP) checklists during production, manufacturing and transportation processes, companies have access to consistent and meaningful data to implement. implementing food safety solutions.
Likewise, variation in food laws and regulations from region to region, including the Food and Drug Safety Act, places significant pressure on supply chains to record more information. and increase transparency.
The COVID-19 pandemic has severely disrupted almost all end-user industries around the world, affecting companies’ supply chain management due to remote working conditions or a complete lockdown, resulting in shutdown operations.? The disruption has proliferated the use of technology and digitization to its fullest to survive the pandemic and help prevent disruption to their operations.
The pandemic has affected the logistics industry in various ways, such as the Logistics Managers Index (LMI) to april 2020 fell to an all-time low. LMI is based on eight unique components that involve inventory (levels and costs), warehousing (capacity, use and price) and transportation (capacity, use and price).
Key market trends
Monitoring of the cold chain to hold a significant share
- Rapidly changing eating habits, increased demand for packaged food, and stringent packaging and storage regulations have resulted in a shift of power from manufacturers to retailers. Processes focused on zero contamination, precise storage and high speed storage and retrieval operations are the main reasons for the automation and adoption of technologies in the food and beverage logistics process.
- A cold chain monitoring solution helps food manufacturers efficiently manage the storage, shipping and distribution of products requiring a temperature controlled environment. Incomplete cooling chains caused by mechanical failures, traffic delays, and other factors create changing temperatures that can affect the spoilage and safety of perishable foods. Additionally, a lack of real-time visibility of merchandise locations can contribute to inefficient business processes.
- Therefore, the adoption of cold chain monitoring ensures stable temperatures for the transportation and storage of goods. Technologies such as Bluetooth Low Energy (BLE) beacons with temperature sensors make it possible to track the locations of goods at relevant control points and to trace temperature data continuously and transparently, during shipment or throughout of the supply chain.
- Many food logistics companies are embarking on expansion activities. For example, in September 2020, third-party food logistics company FreezPak Logistics has announced plans to build a 140,000 square foot facility in United States equipped with an automated storage and retrieval system. The location must be equipped with 12 robots capable of automatically retrieving and storing the goods.
The smart food logistics market is moderately fragmented. The main players with a large share of the market are focused on expanding their customer base across foreign countries. These companies rely on strategic collaborative initiatives to increase their market share and increase their profitability.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Market drivers
4.4.1 Growing need for effective monitoring and tracking for better control of assets
4.5 Market restrictions
4.5.1 Installation complexities?
5 IMPACT OF COVID-19 ON THE LOGISTICS INDUSTRY IN THE FOOD AND BEVERAGE SECTOR
6 MARKET SEGMENTATION
6.1.1 Hardware (sensors, telematics, networking devices, etc.)
6.1.2 Software and services
6.2.1 Fleet management
6.2.2 Asset tracking
6.2.3 Cold chain monitoring
6.3.1 North America
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company profiles
7.1.2 Sensitech (Carrier Global Corporation)
7.1.3 Berlinger & Cie SA
7.1.4 Géotab inc.
7.1.5 Company Kii
7.1.6 Verizon Connect
7.1.7 Teletrac Navman
7.1.8 Monnit Company
7.1.10 Samsara Networks, Inc.
7.1.12 Nippon Express co. ltd.
7.1.13 YUSEN LOGISTICS CO., LTD.
7.1.14 Hacobu Co., Ltd. (MOVO)
7.1.15 Kouei System Ltd.
7.1.16 LYNA LOGIQUES, Inc.
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS?
For more information on this report, visit https://www.researchandmarkets.com/r/bny307
Research and markets
Laura Wood, senior
For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900
US Fax: 646-607-1904
Fax (outside the United States): + 353-1-481-1716
SOURCE Research and Markets