Canada (and the U.S.) are geographically vast countries, with warm summers and cold winters – and a need for refrigerated truck and warehouse capacities to preserve food and non-food items to prevent spoilage while in transit.
Refrigerated warehouse capacities has grown in both countries, resulting in a positive impact on the cold-chain logistics market. Perishable food items and medicines need to be maintained at optimal and consistent temperatures throughout journey to end consumers. Food mismanagement creates local oversupplies, prolonged storage periods, or inappropriate storage conditions – all which decreases food shelf life. The need for temperature-controlled logistics creates opportunities for vendors to increase investments that could benefit both refrigerated trucking companies and perishable food manufacturers.
The pharmaceutical market in Canada and the U.S. continues to drive increased demand for refrigerated transportation and pharmaceutical product warehousing. As with Pfizer’s COVID-19 vaccine rollout, pharmaceutical products need to be maintained at precise temperatures to maintain their efficacy. Time and temperature are two vital factors to be considered when transporting medicines; transporting biological materials (including blood, tissue samples, reproductive material, etc.) must also be done at extremely low temperatures. It is critical to transport clinical products in temperature-controlled trailers over a long distance, and refrigerated trucking companies are exploring ways to deliver advanced solutions for biological researchers and research labs.
Trends show a growing consolidation in the global healthcare logistics market. Vendors are also offering value-added services (VAS) such as loading and unloading, inventory management tools, and other supply chain-related services.
The refrigerated trucking market in the U.S. and Canada is expected to grow at a compound annual growth rate (CAGR) of over 4% between 2019 and 2025, offering potential opportunities for logistics and transportation firms.