Core Insights - The Southeast Produce Council's "What's New 2025" report highlights the recovery potential of cold chain refrigerated transportation within the trucking industry, which is currently facing challenges due to a prolonged downturn [1] - The produce industry, valued at $48 billion in retail sales, is undergoing significant changes that could impact cold chain logistics for years to come [1] Industry Overview - The freight recession that began in April 2022 has severely affected trucking revenue, with spot rates dropping by 30% in 2024 [2] - Refrigerated freight has shown more resilience compared to dry van transportation, with average spot rates for refrigerated trucks at $2.35 per mile and contract rates at $2.71 per mile in June 2025, maintaining a premium over dry van rates of $2.03 per mile [2] Market Growth - The global cold chain market was valued at approximately $316.34 billion in 2024 and is projected to grow to $1,611.0 billion by 2033, with a compound annual growth rate (CAGR) of 20.1% from 2025 to 2033 [5] - In the U.S., the cold chain logistics market is expected to grow from $34.67 billion in 2024 to $75.96 billion by 2032, with a CAGR of 10.3% from 2025 to 2032 [6] Consumer Trends - Millennials now account for 68% of all new produce dollars, representing a $4 billion growth opportunity that is transforming packaging and distribution patterns [3] - Traditional grocery stores are losing market share to value-forward channels such as supercenters and club stores, which may streamline transportation routes but could also increase delivery timing pressures [7] Transportation Dynamics - Value-added produce, while only 8% of volume, commands higher rates and requires specialized handling, presenting opportunities for carriers with advanced refrigerated capabilities [7] - The acceleration of e-commerce driven by Millennials' digital-first shopping habits is expanding online grocery needs, necessitating the development of last-mile cold chain solutions [7]