USD 118.58 billion
Global Cold Storage Market Size, Share, Growth Analysis, By Application(Fruits & Vegetables, Dairy), By Warehouse Type(Private & Semi-Private, Public) - Industry Forecast 2023-2030
Report ID: SQSG45I2017 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 65 | Figures: 75
Global Cold Storage Market Insights
Global Cold Storage Market size was valued at USD 118.58 billion in 2021 and is poised to grow from USD 138.97 billion in 2022 to USD 579.81 billion by 2030, growing at a CAGR of 17.2% in the forecast period (2023-2030).
The term "cold storage" refers to the temperature-controlled holding of food items including dairy, meat, and fish. Cold storage is utilized primarily as a necessary logistical node and as a buffer against supply and demand imbalances. Cold storage technology has benefits including cutting-edge refrigeration technology and maintaining and tracking systems for different products like fruits and vegetables, drastically lowering the likelihood of temperature-sensitive products being wasted.
Even though globalization has reduced the distances between nations, some freight transportation still heavily depends on these physical distances. The likelihood of cargo being destroyed during transportation increases with distance.
Due to the rules around refrigerated freight, cold storage is considerably more involved than dry storage. Many manufacturers opt to outsource their cold storage to third-party logistics firms since chilled warehousing is more expensive. The need for value-added services like repacking and consolidation rises along with the demand for the transportation of refrigerated goods. These greater expectations result in a lower return on investment for cold storage for 3PLs, who must improve their operations and infrastructure to remain competitive.
Due to the increasing amount of customized requests from customers based on the requirements of their end users, many 3PLs find it difficult to maintain one-size-fits-all warehouses. Due to the wide variety of customer needs, 3PLs are developing more specialized cold storage facilities for their customers. While doing so enables 3PLs to operate more effectively in response to the needs of a particular client, it is a risky business because it is challenging to bind price-conscious clients to lengthy agreements.
Consumer needs, which are not just limited to added value services, are influencing how the cold storage industry is evolving. They also relate to the type of items being stored. The period that different things can spend between a cold storage facility and a vehicle without becoming bad, as well as the temperature ranges in which they must be stored, vary.
US Cold Storage Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
private
Fastest Growth
semi-private
Growth Rate
17.2% CAGR
Global Cold Storage Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Cold Storage Market Size By Warehouse Type 2021-2028 ($ Bn)
Global Cold Storage Market Size By Warehouse Type, 2021-2028 (%)
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Global Cold Storage Market Segmental Analysis
The global cold storage market has been segmented based on warehouse type, application, and region. Based on type, the Cold Storage Market is segmented into private & semi-private, and public. Based on the application, the Cold Storage Market is segmented into fruits & vegetables, dairy, fish, meat & seafood, processed food, and pharmaceuticals. Based on region, the cold storage market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Cold Storage Market Analysis by Warehouse Type
According to warehouse type, the public sector held more than 65% of the market in 2021. The public warehouse provides several services at a low cost, including the handling, shipping, and storage of commodities. According to the Global Cold Chain Alliance, the US's capacity for refrigerated storage is around 75% greater than that of the public warehouses. Public warehouses support the distribution network and enable dealers and producers to keep perishable goods at a reasonable cost.
The private warehouse category, on the other hand, is anticipated to experience the quickest growth during the projection period. This can be attributed to the increased investments made by the major retailers in building their warehouses so they can provide quick delivery at a low cost. The booming online food and grocery market are also anticipated to fuel category expansion. Building their warehouses was necessary to provide rapid and convenient delivery to their customers as a result of the retail behemoths' growing involvement in the online and home delivery industries. This element is accelerating the market segment's growth.
Global Cold Storage Market Size By Warehouse Type, , 2021(%), 2021 (%)
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Global Cold Storage Market Regional Insights
According to the region, North America had a 37 % revenue share in 2021 and is anticipated to keep leading during the forecast period. With a CAGR of 11.91 % from 2022 to 2028, the North American area had a value of USD 39,309.1 million in 2021 and was projected to reach USD 84,841.4 million by 2028. The region's cold storage market has grown dramatically as a result of the increased use of cold storage in the organized retail sector. The main drivers of the growth of the cold storage market in North America are the rise in consumer awareness of frozen food, the busy and hectic schedules of consumers, and the rise in disposable money.
On the other hand, Asia Pacific is thought to be the market with the largest opportunity. In 2021, the Asia Pacific area had a GDP of USD 22,154.7 million, and by 2028, it was projected to have a GDP of USD 53,132.5 million. The region's need for cold storage systems is being fueled by the region's growing urban population, increasing disposable income, increasing consumer awareness of frozen food, increasing penetration of organized retail, and growing demand for convenience foods.
Global Cold Storage Market By Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
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Global Cold Storage Market Dynamics
Cold Storage Market Driver
- Demand for cold chain services is projected to increase along with the demand for linked trucks, high-cube refrigerated trailers, and vehicles that enable cross-product transportation. Consumers' rising health consciousness has encouraged better-eating practices and increased demand for high-quality food packaging and storage options. Businesses have been increasingly turning to outsource services as a result of factors like heightened competition, a sharp increase in operating expenses, and strict quality standards. The broad adoption of outsourcing has also been influenced by its numerous advantages, including lower operational costs, increased flexibility, enhanced efficiency, and expertise.
- Expanding commerce in perishable goods would contribute to an increase in demand for refrigeration storage options. Cold chain shipping has an impact on the environment, and users and suppliers of temperature-controlled packaging technologies are working to lessen it. In addition, promoting formal Corporate Social Responsibility (CSR) initiatives, strict government restrictions, and shifting consumer expectations all provide significant obstacles to the creation of an effective packaging system.
Cold Storage Market Restraint
- Traditional fluorescent bulbs are utilized in cold storage facilities since they must be used there and are lighted year-round. Energy is lost, and the expense is enormous. The corporation has significant obstacles when trying to grow in new markets due to a lack of the infrastructure required to operate cold storage. Furthermore, the absence of electrical connections for refrigerated trailers in ports and transportation hubs may limit Cold Storage Market expansion in this sector.
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Global Cold Storage Market Competitive Landscape
The market consists of several national and international competitors, the cold storage warehouse market is competitive. To strengthen their position in the Cold Storage Market, major firms are implementing a variety of techniques, such as regional expansion. Businesses are concentrating on raising public knowledge of environmentally friendly and waste-free products. To meet consumer demand, businesses are growing throughout several regions. To increase its consumer base, the business concentrates on new areas.
Top Players Cold Storage Market
- Lineage Logistics Holdings (US)
- Americold Logistics LLC (US)
- Nichirei Corporation (Japan)
- AGRO Merchants Group
- United States Cold Storage, Inc.
- VersaCold Logistics Services
- Interstate Warehousing, Inc.
- Swire Cold Storage Pty Ltd.
- Cloverleaf Cold Storage Co.
- John Swire & Sons Pty Ltd.
- Kloosterboer Group BV
- Gati Kausar
- Henningsen Cold Storage Co.
- Preferred Freezer Services, LLC
- NewCold Advanced Cold Logistics
- Burris Logistics
- Congebec Logistics Inc.
- Snowman Logistics Ltd.
- XPO Logistics, Inc.
- ColdEX Logistics Pvt. Ltd.
Cold Storage Market Recent Development
- In May 2021, Fort Worth has recently made a cold storage acquisition in Phoenix. Led by principals Dax T.S. Mitchell and Andrew Gi, MAG Capital Partners announced that it has acquired 2721 W Willetta Street, a fully occupied cold storage warehouse property situated on 1.73 acres of land adjacent to major freeways.
- In May 2020, Briggs Equipment UK Ltd, completed the acquisition of Barloworld Handling UK assets, making it the exclusive UK dealer for Yale and Hyster products. According to Briggs, the acquisition positions the company as the largest multi-skilled mobile engineering workforce in the UK.
Global Cold Storage Key Market Trends
- One of the key factors influencing the expansion of the cold chain industry is the development of retail channels and chains in the form of supermarkets, hypermarkets, and convenience stores. Additionally, retail chains have grown to the point that some producers have their own internal chilled storage facilities. Large food retail chains are growing their storefronts in industrialized nations like the UK, Germany, and the US as well as in emerging markets like China, Brazil, and Argentina. These chains include Walmart, Tesco, Spar, and 7-Eleven. For instance, with more than 11,000 locations spread across 27 countries, Walmart is the largest American international retail firm. It has a sizable fleet for moving perishable commodities, as well as a strong distribution system.
Global Cold Storage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by warehouse type, the public segment dominated the global cold storage market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global cold storage market owing to the region's increased use of cold storage in the organized retail sector.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 118.58 billion |
| Market size value in 2030 | USD 138.97 billion |
| Growth Rate | 17.2% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cold Storage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cold Storage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cold Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cold Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cold Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cold Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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