New York (US), May 22, 2023 (GLOBE NEWSWIRE) -- Cold Storage Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cold Storage Market Information by Type, Temperature Type, Application, and Region - Forecast till 2030”, Cold Storage Market could thrive at a rate of 14% between 2022 and 2030. The market size will be reaching around USD 397.34 Billion by the end of the year 2030
Market Synopsis
The cold storage market refers to the storage and management of perishable products such as fruits, vegetables, dairy products, frozen food, meat, seafood, and pharmaceutical products, among others. This market includes a range of temperature-controlled storage solutions such as refrigerators, cold rooms, and freezers.
The global cold storage market is primarily driven by the growing demand for frozen and packaged food products, driven by an increasing population and changing food consumption patterns. The trend towards urbanization and the rise of the e-commerce sector have also contributed to the growth of the cold storage market, as more people are purchasing food products online and require temperature-controlled storage during transportation and storage.
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Market Competitive Landscape:
The affluent companies in the Cold Storage industry include
- Lineage Logistics Holdings
- Americold Logistics LLC
- Nichirei Corporation
- Kloosterboer
- Tippmann Group
- The United States Cold Storage
- Henningsen Cold Storage Co.
- VersaCold Logistics Services
- Congebac Inc.
- NewCold
- Snowman Logistics Pvt Ltd
- Wabash National Corporation
- Cloverleaf Cold Storage
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | 2030: USD 397.34 Billion |
| CAGR | 14% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Development in the retail industry and rapid urbanization |
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May 2021
Fort Worth has acquired a cold storage facility located in Phoenix
Market USP Covered:
Market Drivers:
One major driver of the cold storage market is the increasing demand for perishable food items such as fruits, vegetables, dairy products, and frozen foods due to the growing population, urbanization, and changing consumer preferences. With the increase in demand, the need for proper storage and transportation of these items has also increased, which is driving the growth of the cold storage market.
Market Restraints:
One major restraint of the cold storage market is the high cost of cold storage infrastructure and equipment. The establishment and maintenance of cold storage facilities require high capital investment, which can be a significant barrier for small and medium-sized enterprises to enter the market. Additionally, the high operational cost of running these facilities, including electricity and refrigeration costs, can also affect the profitability of cold storage businesses. These factors can limit the growth potential of the cold storage market, particularly in developing countries with limited financial resources.
COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the cold storage market. On one hand, the surge in e-commerce sales due to lockdowns and social distancing measures has driven the demand for cold storage facilities to store perishable food and grocery items. On the other hand, disruptions in the food supply chain due to restrictions on transportation and logistics, closure of restaurants and hotels, and labor shortages have led to a decrease in demand for cold storage facilities.
The pandemic has also led to an increase in health and safety regulations and guidelines, which has increased the costs of operating cold storage facilities. Furthermore, the pandemic has led to a shift in consumer preferences towards locally sourced and sustainable food, which may impact the demand for cold storage facilities that are used for the storage and transportation of imported food.
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Market Segmentation
By Type
The types in the market include Refrigerated Warehouse and Refrigerated Transport.
By temperature type
By temperature type, the segment includes Frozen and Chilled
By application
By application, the segment includes Dairy & Frozen Desserts, Fish, Meat, And Seafood Products, Bakery & Confectionery Products, Fruits & Vegetables, and Others
Regional Insights
The North American cold storage market is driven by factors such as the growing demand for frozen foods, increasing food safety regulations, and the expansion of the e-commerce industry. The US dominates the market in this region due to the high demand for frozen and refrigerated food products, along with the presence of major companies operating in the market. Additionally, the European cold storage market is primarily driven by the growth of the food and beverage industry, increasing demand for frozen food products, and the adoption of automation in cold storage facilities. The UK, Germany, France, and Spain are the major markets in the region, owing to the high demand for frozen and chilled products.
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Further, the Asia Pacific cold storage market is primarily driven by factors such as the increasing demand for frozen food products, growing urbanization, and the expansion of the e-commerce industry. China and India are the major markets in this region, due to their large population and increasing demand for frozen and refrigerated food products.
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