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The market size for cold storage was estimated at USD 125.15 billion in 2022. The forecast period (2023 - 2030) calls for the Cold Storage sector to expand from USD 143.9 billion in 2023 to USD 409.9 billion by 2030, with a compound annual growth rate (CAGR) of 15.00%. The main market factors boosting market growth are rising consumer demand for perishable items and the increase of the international food trade as a result of trade economic liberalization.
The tight laws that control the supply and manufacture of temperature-sensitive goods have greatly benefited the market. Due to expanding organized retail sectors in developing nations, the industry is anticipated to expand significantly over the projection period. Furthermore, it is anticipated that increased automation in refrigerated warehouses will further increase demand. Cloud computing, conveyor belts, robots, energy management, and automated truck loading are all examples of warehouse automation. When storing and delivering temperature-sensitive goods, chilled storage has become crucial to supply networks. Over the next few years, it is also anticipated that the expanding perishable goods trade would increase demand for chilled storage options.
The word "cold storage" refers to the holding of food products, such as dairy, meat, and fish, at a controlled temperature. The main purposes of cold storage are as a crucial logistical node and as a safeguard against supply and demand imbalances. Innovative refrigeration technology, maintaining and tracking systems for various items like fruits and vegetables, as well as other advantages of cold storage technology significantly reduce the risk that temperature-sensitive goods would go to waste. The physical distances between countries have shrunk as a result of globalization, yet some forms of freight transportation still rely heavily on them. The longer the journey, the more likely it is that the goods will be lost.
Cold storage is significantly more complicated than dry storage because of the regulations governing refrigerated freight. Since chilled warehousing is more expensive, many manufacturers choose to contract out their cold storage to third-party logistics companies. The demand for transportation of refrigerated goods increases along with the requirement for value-added services like repacking and consolidation. A poorer return on investment for cold storage for 3PLs is the outcome of these higher expectations, and in order to compete, they must upgrade their infrastructure and processes.
The rising consumer awareness of reducing food waste is driving the market CAGR for cold storage. Food waste is a significant problem everywhere in the world. The majority of food waste is brought on by inadequate storage options. Additionally, 700 million people worldwide lack sufficient access to food. Food deterioration and waste can occur when perishable commodities travel through the supply chain at variable temperatures. In order to solve this problem, the Chinese government is concentrating on policies that would decrease food waste and lengthen the shelf life of perishable commodities. The population is expected to grow quickly, which will increase demand for food and the focus on reducing food waste. There is a global demand for better storage due to population growth and high food waste; storage can help solve the issue of food insecurity by providing a stable environment for food products throughout the supply chain. As a result, as people become more conscious of the value of reducing food waste, the demand for storage facilities will rise, driving the market under consideration to expand throughout the forecast period.
The impact of the pandemic on several businesses, including cold storage, has worsened due to insufficient measures taken to stop the coronavirus from spreading throughout the world. Online shopping channels experienced a dramatic increase in demand as a result of the government-imposed lockdowns. People were compelled to alter their buying habits and switch to internet channels for buying things, including medicines, groceries, and other food items, as a result of lockdowns and the fear of becoming infected.
Cold storage facilities were categorized by the U.S. Department of Homeland Security as important infrastructure in March 2020, allowing for uninterrupted operations despite the ongoing Covid-19 spread. As a result, there was a rise in demand for e-commerce services, particularly from the retail industry. People are still more likely to make purchases online even though the economy is stabilizing. More cold storage space will be needed as there is an increase in online food shopping, which will benefit the cold storage sector.
Leading market competitors are making significant R&D investments in order to diversify their product offerings, which will drive the Cold Storage Market's growth. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic initiatives to increase their footprint. The cold storage business must provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the Cold Storage industry to benefit customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine recently have come from the cold storage sector. VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US), among others, are significant players in the cold storage market that are attempting to boost market demand by investing in research and development activities.
Report Coverage
Global Cold Storage research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cold Storage report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cold Storage competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cold Storage market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cold Storage market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cold Storage market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Lineage Logistics Holdings (US). Americold Logistics LLC (US). Nichirei Corporation (Japan), Kloosterboer (Netherlands), Tippmann Group (US), The United States Cold Storage (US), Henningsen Cold Storage Co. (US), VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US), AGRO Merchants Group, Interstate Warehousing, Inc., Swire Cold Storage Pty Ltd., John Swire & Sons Pty Ltd., Gati Kausar, Preferred Freezer Services, LLC, Burris Logistics, Congebec Logistics Inc., XPO Logistics, Inc., ColdEX Logistics Pvt. Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cold Storage market based on the below-mentioned segments:
Global Cold Storage Market, By Type
Refrigerated Warehouse
Refrigerated Transport
Global Cold Storage market, By Application
Dairy and Frozen Desserts
Fish, Meat and Seafood Products
Bakery and Confectionery Products
Fruit & Vegetables
Others
Global Cold Storage Market, By Temperature Type
Frozen
Chilled
Global Cold Storage market, Regional Analysis
The tight laws that control the supply and manufacture of temperature-sensitive goods have greatly benefited the market. Due to expanding organized retail sectors in developing nations, the industry is anticipated to expand significantly over the projection period. Furthermore, it is anticipated that increased automation in refrigerated warehouses will further increase demand. Cloud computing, conveyor belts, robots, energy management, and automated truck loading are all examples of warehouse automation. When storing and delivering temperature-sensitive goods, chilled storage has become crucial to supply networks. Over the next few years, it is also anticipated that the expanding perishable goods trade would increase demand for chilled storage options.
The word "cold storage" refers to the holding of food products, such as dairy, meat, and fish, at a controlled temperature. The main purposes of cold storage are as a crucial logistical node and as a safeguard against supply and demand imbalances. Innovative refrigeration technology, maintaining and tracking systems for various items like fruits and vegetables, as well as other advantages of cold storage technology significantly reduce the risk that temperature-sensitive goods would go to waste. The physical distances between countries have shrunk as a result of globalization, yet some forms of freight transportation still rely heavily on them. The longer the journey, the more likely it is that the goods will be lost.
Cold storage is significantly more complicated than dry storage because of the regulations governing refrigerated freight. Since chilled warehousing is more expensive, many manufacturers choose to contract out their cold storage to third-party logistics companies. The demand for transportation of refrigerated goods increases along with the requirement for value-added services like repacking and consolidation. A poorer return on investment for cold storage for 3PLs is the outcome of these higher expectations, and in order to compete, they must upgrade their infrastructure and processes.
The rising consumer awareness of reducing food waste is driving the market CAGR for cold storage. Food waste is a significant problem everywhere in the world. The majority of food waste is brought on by inadequate storage options. Additionally, 700 million people worldwide lack sufficient access to food. Food deterioration and waste can occur when perishable commodities travel through the supply chain at variable temperatures. In order to solve this problem, the Chinese government is concentrating on policies that would decrease food waste and lengthen the shelf life of perishable commodities. The population is expected to grow quickly, which will increase demand for food and the focus on reducing food waste. There is a global demand for better storage due to population growth and high food waste; storage can help solve the issue of food insecurity by providing a stable environment for food products throughout the supply chain. As a result, as people become more conscious of the value of reducing food waste, the demand for storage facilities will rise, driving the market under consideration to expand throughout the forecast period.
The impact of the pandemic on several businesses, including cold storage, has worsened due to insufficient measures taken to stop the coronavirus from spreading throughout the world. Online shopping channels experienced a dramatic increase in demand as a result of the government-imposed lockdowns. People were compelled to alter their buying habits and switch to internet channels for buying things, including medicines, groceries, and other food items, as a result of lockdowns and the fear of becoming infected.
Cold storage facilities were categorized by the U.S. Department of Homeland Security as important infrastructure in March 2020, allowing for uninterrupted operations despite the ongoing Covid-19 spread. As a result, there was a rise in demand for e-commerce services, particularly from the retail industry. People are still more likely to make purchases online even though the economy is stabilizing. More cold storage space will be needed as there is an increase in online food shopping, which will benefit the cold storage sector.
Leading market competitors are making significant R&D investments in order to diversify their product offerings, which will drive the Cold Storage Market's growth. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic initiatives to increase their footprint. The cold storage business must provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the Cold Storage industry to benefit customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine recently have come from the cold storage sector. VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US), among others, are significant players in the cold storage market that are attempting to boost market demand by investing in research and development activities.
Report Coverage
Global Cold Storage research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cold Storage report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cold Storage competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cold Storage market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Lineage Logistics Holdings (US). Americold Logistics LLC (US). Nichirei Corporation (Japan), Kloosterboer (Netherlands), Tippmann Group (US), The United States Cold Storage (US), Henningsen Cold Storage Co. (US), VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US), AGRO Merchants Group, Interstate Warehousing, Inc., Swire Cold Storage Pty Ltd., John Swire & Sons Pty Ltd., Gati Kausar, Preferred Freezer Services, LLC, Burris Logistics, Congebec Logistics Inc., XPO Logistics, Inc., ColdEX Logistics Pvt. Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Cold Storage Market from 2021 to 2030.
- Market Forecast for Cold Storage Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cold Storage competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cold Storage
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cold Storage market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cold Storage market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Lineage Logistics Holdings (US). Americold Logistics LLC (US). Nichirei Corporation (Japan), Kloosterboer (Netherlands), Tippmann Group (US), The United States Cold Storage (US), Henningsen Cold Storage Co. (US), VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US), AGRO Merchants Group, Interstate Warehousing, Inc., Swire Cold Storage Pty Ltd., John Swire & Sons Pty Ltd., Gati Kausar, Preferred Freezer Services, LLC, Burris Logistics, Congebec Logistics Inc., XPO Logistics, Inc., ColdEX Logistics Pvt. Ltd.
Primary Target Market
- Market Players of Cold Storage
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cold Storage market based on the below-mentioned segments:
Global Cold Storage Market, By Type
Refrigerated Warehouse
Refrigerated Transport
Global Cold Storage market, By Application
Dairy and Frozen Desserts
Fish, Meat and Seafood Products
Bakery and Confectionery Products
Fruit & Vegetables
Others
Global Cold Storage Market, By Temperature Type
Frozen
Chilled
Global Cold Storage market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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