Cold Chain Market Embraces 5.1% Growth, Breaking RMB 200 Billion

According to ChinaIOL.com, the cold chain industry has seen a total market scale that rose to RMB 208.4 billion (about US$ 32.23 billion) in 2020, breaking RMB 200 billion (about US$ 30.93 billion) for the first time, with a 5.1% year-on-year growth rate. In 2020, residential refrigeration equipment including refrigerators, freezers, and water coolers saw a market scale of RMB 142.6 billion (about US$ 22.10 billion), with a 69% market share; among them, the refrigerator and freezer sector saw a sales volume of 121.67 million units in one year, with a 17% year-on-year growth rate, which was the highest growth rate in the past 10 years. It also showed a compound growth rate of 3.8% over a five-year period.