Perishable Goods Sea Transportation Global Market Report 2024

The perishable goods sea transportation market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period can be attributed to several factors, including the globalization of supply chains, an increased demand for fresh and frozen foods, stringent quality and safety standards, a rise in the consumption of exotic foods, government initiatives supporting exports, and the growing importance of cold chain logistics in ensuring the safe transport of perishable goods.

The perishable goods sea transportation market size is expected to see strong growth in the next few years. It will grow to $2.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to evolving consumer preferences for freshness, the expansion of emerging markets, the introduction of advanced packaging solutions, global efforts to reduce food waste, and the rising demand for organic and locally sourced products. Major trends expected in the forecast period include the integration of technology in transportation, direct-to-consumer trends, the use of digital platforms for booking and tracking shipments, the implementation of risk mitigation strategies, the adoption of smart technologies in cold chain management, and the integration of real-time monitoring systems for enhanced efficiency and quality control.

The anticipated increase in the global demand for processed food is set to drive the growth of the perishable goods sea transportation market. Processed foods, encompassing various alterations during preparation, such as cooking, freezing, or packaging, are transported via refrigerated ships equipped with air circulation systems to maintain freshness. An article from Soocial in 2022 revealed that one in every five people in the UK consumes prepared meals weekly, with a 41.4% market share for ready-to-eat food in North America. This surge in demand for processed food is a significant driver for the perishable goods sea transportation market.

The expanding e-commerce industry is expected to play a pivotal role in boosting the growth of the perishable goods sea transportation market. E-commerce, characterized by online exchanges of goods and services, necessitates efficient logistics solutions to meet the expectations of consumers for timely and high-quality perishable products. A report by the International Trade Administration in October 2021 predicts that e-commerce for consumer goods will account for approximately 22% of all global retail sales by 2024. The consistent growth in global retail e-commerce sales further underlines the increasing demand for reliable perishable goods sea transportation.

A notable trend in the perishable goods sea transportation market is the adoption of technological advancements in freight management. Major industry players are integrating cutting-edge technologies such as the Internet of Things (IoT), radio frequency identification, machine learning, and cloud-based security solutions to enhance the efficiency of transporting perishable goods. Kuehne + Nagel International AG, a Switzerland-based logistics company, introduced the Seaexplorer disruption indicator in January 2022, providing insights, analytics, and trend information on sea freight disruptions, empowering customers to predict and plan for potential supply chain impacts.

Leading companies in the perishable goods sea transportation market are investing in advanced technologies such as freight movement technology to expand their customer base and increase revenue. Freight movement technology involves the application of technological solutions to optimize the transportation of goods across the supply chain. In March 2023, ArcBest Corporation, a US-based transport company, launched Vaux - a hardware and software combination revolutionizing freight processes by facilitating rapid unloading and comprehensive visibility into freight movement across warehouse facilities. This technology enhances efficiency and coordination in warehouse operations.

In July 2021, Kuehne + Nagel International AG acquired Salmosped, reinforcing its international position in the salmon and seafood industries. The acquisition enhances Kuehne + Nagel's global seafood network, complementing its existing businesses and strengthening its presence in key locations, including Halifax, Vancouver, London, and Santiago de Chile. Salmosped, a US-based transportation company specializing in salmon and seafood logistics, aligns with Kuehne + Nagel's growth strategy in these sectors.

Major companies operating in the perishable goods sea transportation market report are A.P. Moller - Maersk A/S, C.H. Robinson Worldwide Inc., CMA CGM Group, Deutsche Post DHL Group, DSV Panalpina A/S, Kuehne + Nagel International AG, Mediterranean Shipping Co SA, Mitsui O.S.K. Lines Ltd., Orient Overseas Container Line, Schenker AG, Nippon Yusen Kabushiki Kaisha, Swift Transportation, CRST International, Africa Express Line Ltd., Bay & Bay Transfer Co. Inc., COSCO Shipping Co. Ltd., FST Logistics, Hanson Logistics Ltd., Hapag-Lloyd AG, Swift Cargo Pvt. Ltd., Amigo Logistics, Shoolin Shipping Services (I) Pvt Ltd., All India Frozen Food Carrier, Ashwini Transport Company, Hellmann Worldwide Logistics SE and Co KG, MSC Mediterranean Shipping Company S.A., Seatrade Reefer Chartering NV, Seaboard Marine Ltd., Swire Pacific Cold Storage Ltd., Interocean Management Corporation, United Arab Shipping Company, ZIM Integrated Shipping Services Ltd., Crowley Maritime Corporation, Hamburg Sud, Mediterranean Shipping Company.

North America was the largest region in the perishable goods sea transportation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the perishable goods sea transportation market report during the forecast period. The regions covered in the perishable goods sea transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the perishable goods sea transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The two main types of sea transportation for perishable goods are domestic transportation and outbound transportation. Domestic transportation pertains to the movement of perishable goods within the national borders of a country. When categorized by order type, perishable goods transportation is further divided into export and import orders. These transportation services are utilized for shipping various perishable goods, including meat, chicken, fish, shellfish, vegetables and fruits, bread, candy, snacks, dairy products, frozen desserts, and other perishable items.

The perishable goods sea transportation market research report is one of a series of new reports that provides perishable goods sea transportation market statistics, including perishable goods sea transportation industry global market size, regional shares, competitors with a perishable goods sea transportation market share, detailed perishable goods sea transportation market segments, market trends and opportunities, and any further data you may need to thrive in the perishable goods sea transportation industry. This perishable goods sea transportation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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