The global cold chain RFID market, valued at USD 1.854 billion in 2022, is projected to reach USD 4.636 billion by 2030, boasting a Compound Annual Growth Rate (CAGR) of 16.5%. This growth surge is fueled by heightened demand for fresh and perishable foods alongside technological advancements in RFID technology. Cold chain RFID systems play a critical role in maintaining the temperature integrity of goods like food and pharmaceuticals throughout the supply chain, ensuring product safety and quality.
RFID technology facilitates efficient tracking of items within the cold chain, from production to distribution, enhancing supply chain visibility and reducing the risk of product loss and waste. Major players in the market including Zebra Technologies, Honeywell International, Impinj, Nedap N.V, RFID4U, Invengo Technology BV and GAO RFID Inc. are contributing to market expansion.
The COVID-19 pandemic has disrupted the cold chain industry, causing global trade disruptions and restrictions on perishable goods’ import and export. However, it has underscored the significance of RFID technology in tracking perishable items and ensuring supply chain resilience, leading to increased demand for RFID tags and readers.
A notable trend in the market is the introduction of passive RFID tags, which are more affordable and easier to deploy than active RFID tags, driving increased adoption by retailers and stakeholders in various industries. Additionally, the Internet of Things (IoT) is fostering growth by enabling real-time monitoring and tracking of goods across the supply chain.
Regionally, Asia-Pacific and North America are key markets for cold chain RFID. Asia-Pacific is driven by rising demand for fresh and perishable items and the need for effective supply chain management. North America’s growth is propelled by increasing demand for cold chain logistics solutions and concerns about food safety. The cold chain RFID market is experiencing significant growth due to technological advancements and increasing demand for perishable goods.