Blockchain For Cold Chain Logistics Market Size
Blockchain for Cold Chain Logistics Market Size was valued at USD 470 Billion in 2024 and is expected to reach USD 1592.4 Billion by 2034, growing at a CAGR of 14.3%
Blockchain in cold chain logistics refers to applying blockchain technology to better and secure supply chain management concerning temperature-sensitive products. This new approach will deal with challenges associated with maintaining proper temperature conditions for perishable goods, such as food, pharmaceuticals, and chemicals, from production to consumption. Every step of a cold chain process can be recorded and verified in real-time using blockchain, owing to its immutable and transparent nature, to ensure the integrity and safety of products. It creates an opportunity for stakeholders to trace temperature history, location, and handling of products, which makes an unbroken chain of custody and accountability. This will reduce errors to near zero, fraud to nil, waste to a minimum, and enhance efficiency in cold chain logistics using blockchain. This will provide faster and more accurate recalls in case of any problems, improving food safety and ensuring compliance with regulatory provisions. Therefore, blockchain for cold chain logistics is an up-and-coming solution in optimizing supply chain operations and generating trust for all stakeholders participating in transport and storage activities involving temperature-sensitive goods.