A report by Zion Research, titled Cold Chain Market (Chilled and Frozen): Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020, says the global cold chain market was valued at US$ 110.2 billion in 2014 and is expected to grow at a CAGR of 13.9% between 2015 and 2020. In terms of value, the global cold chain market stood at 552.09 million cubic meters in 2014. The report attributes part of the expected growth to the rapid evolution in the frozen food segment. High cost of real estate and energy are expected to pose a significant challenge for the growth of the industry. According to the report, fruits and vegetables, bakery and confectionery, dairy and frozen desserts, meat, fish and seafood and others (including sauces, condiments, salad dressings, and dips) are key end-user industries of the cold chain market. Meat, fish and seafood dominated the global cold chain market with around 45% share of the total market in 2014, and the growing import-export of meat, fish and seafood is expected to fuel the growth of cold chains. Dairy and frozen desserts and fruits and vegetables are the other important end user segments of the cold chain industry with significant market share.