North America held the Largest Share of the Cold Storage Market in 2021
According to Custom Market Insights (CMI), the Global Cold Storage Market size was estimated at USD 112 Billion in 2021 and is expected to hit around USD 330 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11% from 2022 to 2030. Our research report offers a 360-degree view of the Cold Storage market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Cold Storage market.
Global Cold Storage Market 2022–2030(By Application)
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Cold Storage Market: Overview
By 2050, the world’s population is projected to reach 9.7 billion people, which suggests a potential increase in food demand. However, it is getting harder for farmers in some regions of the world to grow food as a result of climate change and other causes. Businesses are using cold storage as a solution to keep food storage feasible and reasonably priced for consumers. The worldwide cold storage market is expected to rise as a result, according to projections.
Browse the full “Cold Storage Market Size, Trends, and Insights By Type (Public, Private/Semi-Private), By Construction Type (Ports, Bulk Storage, Production Stores), By Temperature (Frozen, Chilled), By Application (Dairy, Pharmaceuticals, Fish, Meat, & Seafood, Fruits & Vegetables, Processed Foods, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/cold-storage-market/
The stringent regulations controlling the manufacturing and distribution of temperature-sensitive goods have greatly benefited the market. During the projection period, the industry is expected to experience exceptional growth as a result of the expanding organized retail markets in emerging economies. Additionally, it is anticipated that increased automation in refrigerated warehouses will further increase demand.
Over the coming years, it is also projected that the 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.
Global Cold Storage Market 2022–2030 (By Temperature)
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The market for Cold Storage is segmented into type, construction type, temperature, and application. In 2021, the public warehouse market category dominated with a 65%+ share of global revenue. The cold storage industry has been divided into two categories based on the type of warehouse: private and semi-private, and public. The Global Cold Chain Alliance estimates that over 75% of the total refrigerated storage capacity in the United States is accounted for by public warehouse space. A public warehouse is run as a stand-alone company that provides different services, like handling, storing, and transporting for a set or variable price.
In 2021, the seafood industry dominated the market and generated roughly 35% of total revenue. The industry has been divided into processed food, dairy, fruits, vegetables, fish, meat, and seafood, as well as medications, depending on the application. The meat, fish, and seafood market is anticipated to be impacted by ongoing developments in seafood packaging.
In 2021, the North American geographical segment dominated the market and contributed over 35% of global revenue. One of the main drivers of the region’s growth is the abundance of connected devices combined with a sizable user base. Due to the expansion of the network of warehouses and increased investments in the construction of the logistics infrastructure, Mexico is predicted to see exponential growth in North America. These would also operate as the primary drivers of the cold chain’s demand.
|Feature of the Report||Details|
|Market Size in 2021||USD 112 Billion|
|Projected Market Size in 2030||USD 330 Billion|
|Market Size in 2022||USD 136 Billion|
|CAGR Growth Rate||11% CAGR|
|Prominent Players||Americold Logistics LLC, Lineage Logistics Holdings, Nichirei Corporation, The United States Cold Storage, Henningsen Cold Storage Co., Tippmann Group, VersaCold Logistics Services, NewCold, Congebac Inc., Snowman Logistics Pvt Ltd, Cloverleaf Cold Storage, Wabash National Corporation, and Others|
|Key Segment||By Type, Construction Type, Temperature, Application, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
Technology advancements are a major trend that is becoming more and more popular in the cold storage sector. To maintain their place in the market, major cold storage firms are utilizing innovative technologies, including automation in warehouses, higher warehouses with temperature control, and others.
- 2021: A new cold storage facility, Vertical Cold Facilities, was unveiled by Vertical Cold Storage, a provider of temperature-controlled and dry storage facilities in the US. The Vertical Cold Facilities include cost-effective refrigeration facilities that use green practices, performance-improving decision-making technologies, and the most dependable automation in the sector.
- 2019: For about CAD 337 million ($253 million), Americold Logistics LLC, a US-based provider of temperature-controlled warehousing and shipping services, bought Nova Cold Logistics. With this acquisition, Americold now has brand-new warehouses with temperature-controlled docking systems and voice inventory management technology.
Global Cold Storage Market 2022–2030 (By Construction Type)
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- Americold Logistics LLC
- Lineage Logistics Holdings
- Nichirei Corporation
- The United States Cold Storage
- Henningsen Cold Storage Co.
- Tippmann Group
- VersaCold Logistics Services
- Congebac Inc.
- Snowman Logistics Pvt Ltd
- Cloverleaf Cold Storage
- Wabash National Corporation
The global Cold Storage market is segmented as follows:
By Construction Type
- Bulk Storage
- Production Stores
- Fish, Meat, & Seafood
- Fruits & Vegetables
- Processed Foods
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America