APAC Container Shipping Market

Asia Pacific Refrigerated Container Shipping Market Analysis

The Asia Pacific Refrigerated Container Shipping Market size is estimated at USD 7.60 billion in 2025, and is expected to reach USD 11.73 billion by 2030, at a CAGR of 9.07% during the forecast period (2025-2030).

• The Asia-Pacific refrigerated transport market is principally determined by the rising interest in refrigerated leafy foods because of the further developing ways of life and supported financial development. Refrigerated transportation ensures the year-round availability of seasonal goods and extends the shelf life of perishable goods to help preserve their freshness. In addition, the market is expanding due to the rise in cross-border and international trade and the growing preference for outsourcing logistics services. In addition, state-run administrations of a few nations in the district executed rules and guidelines concerning the creation, handling, transportation, and nature of items to help refrigerated transport.
• China held a greater share of 58% than the Asia-Pacific shipping container market in 2022 and is anticipated to continue its dominance throughout the forecast period as well. It is major in light of the developing interest in items and enormous reliance on seaborne exchange in the country. The shipping container market's expansion is hampered by price swings in transportation and inventory, as well as an increase in trade-related agreements and increased demand for ship-based cargo transportation. However, opportunities for the Asia-Pacific Shipping Container Market's expansion throughout the forecast period are anticipated to be provided by factors such as the anticipated trend toward automation in marine transportation and an increase in marine safety regulations.

Asia Pacific Refrigerated Container Shipping Market Trends

Preference for maritime trade over aerial trade growing

The pharmaceutical industry is shifting its focus to the use of cutting-edge technology in the supply chain and is looking for new methods to guarantee the safe delivery of medical products to their intended destinations. Control tower technology, packaging automation, artificial intelligence, and other technologies are at the center of the pharmaceutical industry's cold chain development. Lately, progress propels in the turn of events and scattering of temperature-touchy drug items, going from biologic treatments to treat interesting and constant sicknesses, Coronavirus antibodies and immunizations for other irresistible illnesses, novel oncology therapies and cell and quality (CGT) treatments, made more perplexing cold-chain necessities than any time in recent memory.

According to the most recent appraisals, in August 2022, India's cold capacity limit is probably going to arrive at 40.7 million metric tons by 2023, rising 8.2% from 2020, which will likely open doors in Indian virus chain resources, which will help to drive the market development. Additionally, according to public details, the virus affix area is supposed to develop at over 20% CAGR by 2025, which is credited to empowering the shift from regular cold stockpiling to current extra rooms. A new cold storage facility for temperature-controlled goods was announced by AP Maersk Company in August 2022 and is expected to open in the first quarter of 2023 in Ridgeville, South Carolina.

China includes immense buyer interest in drug items for different ongoing sicknesses, which is raising the requirement for cutting-edge cold chain areas. Cold chain logistics are expanding as a result of increased investments in cold chain infrastructure made by the Chinese government at all levels. For example, in June 2022, according to the Public Turn of Events and Change Commission, China dispensed USD 207.35 million to help cold chain and public planned operations center development.

Demand for frozen foods driving the growth of the market

A change in buyer inclination for frozen food variety items brought about the developing interest for truck refrigeration units by numerous businesses. Besides, there is an expanded reception of refrigerated products of the soil by buyers and transportation of clinical medications, immunizations, general prescriptions, and enhancements from one side of the planet to the other.

Globalization, increased demand for temperature-controlled food systems and containers, and technological advancements in refrigerated transport equipment are all to blame for the expansion of the refrigerated transport market. The refrigerated transport market is experiencing significant growth in emerging nations due to a need for more skilled labor. Likewise, the ongoing nearby players in agricultural nations like India give refrigerated transport benefits that need to be improved when contrasted with their Western partners. The quality of the product could be improved as a result, and customers are less likely to make purchases. Packages that make it easier to use at home and on-the-go focus on convenience features. Comfort highlights, like simple opening, convenience, and one-gave use, keep on driving frozen food-bundling development for a large number of handled food sources, including courses, bites, and even food administration items. Because they need packaging that is simple and flexible, processed foods are convenient and simple to use. As a result, the market is expected to be driven by consumer demand for frozen foods.

Two distinct trends are used to assess the importance of the agro-industrial sector for developing nations. First, both exports and imports from developing nations now overwhelmingly consist of frozen processed products in the Asia-Pacific food trade. Second, the "non-traditional exports" of food shifted significantly in the composition of food exports from developing nations. These commodities offer new open doors for improvement methodologies, albeit the most uncreated nations moved from net food exporters to net shippers of handled items primarily.

Asia Pacific Refrigerated Container Shipping Industry Overview

The container shipping market is fairly fragmented, with the presence of many international companies in the market. The top players in the segment include China Eastern Containers, China International Marine Containers (Group) Ltd (CIMC), Maersk, Florens Asset Management Company Limited, and Guangdong Fuwa Engineering Group Co. Ltd. High barriers to entry due to the high cost of vehicles and increasing economies of scale affect competition in the industry.

The industry structure is also affected by strict international government regulations and the cyclicality of demand. Shipping firms are making prudent investments in new assets to guarantee reliability and efficiency to their customers and earn superior returns on their investments. The anticipated trend of automation in marine transportation and the rise in marine safety norms are also expected to create opportunities for market players in the coming years.

Asia Pacific Refrigerated Container Shipping Market Leaders

Asia Pacific Refrigerated Container Shipping Market News

• April 2023: CIMC and POWIN set up a joint venture to deepen cooperation in energy storage business. Powin is an American battery energy storage system integrator and manufacturer headquartered in Portland, Oregon. It was engaged in the energy storage field for nearly 10 years, and is one of the head energy storage integrators in the United States. According to the ranking released by Navigant Research, a market research organization in the United States, Powin is ranked among the TOP 3 global energy storage system integrators in recent years.
• March 2023: Maersk launched the new Captain Peter Integrated package. It enabled data integration with the Application Programming Interface (API) for customers to get the raw data log with temperature readings into their system of choice. It could be their transportation management system or a 3rd party platform. In addition, the contractual customer can now grant access for their shippers and consignees to log in and view shipment details directly in Captain Peter.