Global cold storage market

Cold Storage Market Size, Share, Growth Analysis, By Storage Type (Facilities/Services, Equipment), By Temperature Range (Chilled (0°C to 15°C), Frozen (-18°C to -25°C), Deep-frozen (Below -25°C), By Application (Food & Beverages, Pharmaceuticals, Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45I2145 | Region: Global | Published Date: September, 2024
Pages: 165 | Tables: 65 | Figures: 75

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.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Cold Storage Market size was valued at around USD 98.6 billion in 2022 and is expected to rise from USD 119.5 billion in 2023 to reach a value of USD 434.2 billion by 2031, at a CAGR of 17.5% over the forecast period (2024–2031).

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. '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. '

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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global cold storage market

Report ID: SQMIG45I2145

$5,300
BUY NOW GET FREE SAMPLE