Foods and beverage industry have always represented a global opportunity. The industry is known to have a robust supply chain, and companies make sure that the product is available at every major retailer or supermarket. However, the industry marks its global presence through perishable goods. The products are delivered at an astounding rate. Thus, making the perishable good sea transportation a major industry to acknowledge.
The industry is adorned by some of the major names in the industry. These companies have been in the game for decades and now and know what works and what does not.
Some of the notable names in the industry are C.H. Robinson, DB Schenker, Hapg-Llyod, Orient Overseas Container Line and several others.
The global perishable goods sea transportation industry can be segmented under a range of factors. But the type and the application has emerged out to be the key factors for the growth of the industry.
Based on the type of product, the industry can be segmented into meat, poultry and seafood, dairy products and frozen desserts, vegetables and fruits and bakery and other confectionery food items.
On the other hand, based on the segmentation of applications, the industry can be segmented into domestic transportation and outbound transportation. The items being perishable the industry is expected to have a robust supply chain and advanced preservative techniques. This ensures that the products do not stale out during the process.
Factors affecting the growth rates
There is a slew of factors that affect the growth prospects of the industry. The rapid globalization, need for organic food items, and advanced preservative methods have helped the industry grow by leap and bound.
Companies need regular updates about the food items, and most advanced solutions come up with regular updates about the condition of the food items and the exact locations of the vehicle in transit.
However, massive accidents can spoil the entire setup. The losses would be gigantic, and hence most companies do not prefer the methods. On the other hand, the air transportation systems have been preferred over the traditional perishable goods sea transportation system. Unlike sea transportation, the items reach the destined locations in a couple of days. The price difference has been a major factor too. To mitigate the loses, vendors all across the world have come up with unique solutions.
The perishable goods sea transportation system has a global presence and is a huge hit among companies all over the world. The United States is the largest supplier of dairy-based products have emerged out as one of the key regions with great potentials.
On the other hand, the Asia Pacific region also show some positive sign of growth, and the industry is expected to flourish in the region.
The global perishable goods sea transportation industry hit a major high in the year 2018, and the industry is believed to expand further at a compound annual growth rate of xx percent for the next few years. By the year 2025, the industry is believed to be cross a major milestone.
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