Phononic Featured on CNBC: Surging frozen food demand may stress critical cold storage supply chains
July 18, 2023
At Phononic, we are proud to be at the forefront of transforming the frozen food supply chain. Americans’ love for frozen food has driven the global frozen food market to new heights, surpassing a staggering $265 billion. However, the industry faces critical challenges in maintaining a resilient cold storage supply chain, which could put its growth and safety at risk.
Recently, Phononic’s CEO, Tony Atti, had the honor of being interviewed on CNBC’s Disruptor 50. During the interview, he highlighted the pressing need for a more advanced and efficient cooling refrigeration system, as the industry still heavily relies on century-old mechanical technology. Phononic has taken on the mission of minimizing food waste and optimizing the frozen food supply chain through groundbreaking innovations.
Phononic interview and feature starts at the 9:40 mark.
The demand for frozen products is continually increasing, with frozen food sales in the U.S. exceeding $72 billion in 2022. Even during the challenges posed by the pandemic in 2020, frozen food sales reached an impressive $65 billion, as consumers turned to bulk buying for its convenience and extended shelf life.
Maintaining proper temperature throughout the entire cold chain is vital to preserving perishable goods. However, a study from Columbia University’s Climate School estimates that approximately 13% of all food produced globally is lost each year due to poor cold storage supply chains.
Phononic’s ingenious solution lies in our temperature-sensitive refrigerator tote, which revolutionizes the way frozen goods are transported to e-grocers and grocery stores. This innovative tote not only ensures the quality and freshness of products but also reduces shipping costs for our partners.
We are thrilled that our dedication to innovation and our significant impact on the frozen food industry has earned us a spot on CNBC’s 2023 Disruptor 50 list, marking our fourth appearance on this esteemed annual ranking. This recognition further underscores our commitment to transforming the future of the frozen food market.
As we continue our journey alongside other esteemed disruptors in the industry, like Lineage Logistics, we envision a future where food waste is significantly reduced, and the cold storage supply chain operates with unmatched efficiency. With over 430 locations in 20 countries, Lineage Logistics offers a global network of temperature-controlled cold storage facilities, ensuring that food products are maintained at safe temperatures throughout their entire journey.
Together, Phononic and Lineage Logistics are leading the charge in creating a more sustainable and efficient frozen food supply chain. As we look ahead, we are confident that our innovative solutions will play a vital role in shaping the industry and meeting the evolving needs of consumers and businesses alike.
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