cold storage Market

The cold storage market size is expected to grow from US$ 1,19,621.36 million in 2022 to US$ 4,17,686.89 million by 2030. It is expected to register a CAGR of 16.9% from 2022 to 2030.

Globalization and expansion in transport logistics have also boosted the supply chain of various products nationally or internationally. This market trend has improved the demand for cold storage facilities to make certain that the products reach consumers in ideal condition, preserving a necessary temperature, regardless of distance and time of travel. Asia Pacific, North America, and Europe are leading regions, followed by the Middle East & Africa, and South America. Growing population, increasing per capita income, and rising consumer inclination toward consuming frozen and processed food products are boosting the demand for cold storage facilities in countries such as China, the US, India, South Korea, Brazil, and Germany. However, adverse impact of cold storage facilities on environment may impede the cold storage market growth. Sustainable refrigeration and storage technologies

are expected to bring new cold storage market trends in the coming years.

The proper usage of cold storage facilities can reduce the ratio of food wastage as it can preserve and increase the shelf life of dairy, meat, fish, seafood, and processed food products. Optimal usage of cold storage helps food business entities improve their business management. It can reduce the risk of wasting perishable food items for longer periods and protect the freshness. The cold storage market size is likely to surge by 2030 owing to rising concern about food waste and its effect on the environment, food business, and the overall economy. In addition, mounting number of import and export of pharmaceutical and food products are among the factors contributing to the growing cold storage market size.

In terms of revenue, North America dominated the cold storage market share in 2022. Growing demand for processed meat and seafood, along with the rising need for pharmaceutical products, facilitating the expansion of the cold storage market share in North America. The basic requirement of storing seasonal fruits, meat products, and dairy items for a long is fulfilled by proper cold storage facilities. In addition, the appropriate supply chain management of agricultural products, frozen meat, and fish, medicine, and drugs has also further fueled the old storage market growth in the US, Canada, and Mexico. Germany, the UK, and France are among the major countries contributing to the development of the cold storage market in Europe. In addition, Italy, Russia, the Netherlands, Belgium, Poland, and Spain are also noteworthy countries in the cold storage market. The COVID-19 and geopolitical disturbances during the Russia-Ukraine war have also shown the importance of cold storage facilities, as they cater to the consumers' needs in times of crisis.

Based on the temperature type, the cold storage market is bifurcated into chilled and frozen. A cold storage, or freezer warehouse, maintains specific temperatures using a complex refrigeration system. The frozen segment accounted for the largest share of the cold storage market. The risen segment accounted for 65.2% of the total cold storage in the year 2022 and is projected to maintain its dominance during the forecast period.

Based on the warehouse type, the cold storage market is segmented into public, private, and semi-private. Increasing consumer inclination for perishable products and growing demand for frozen food items are a few of the key factors leading to the proliferation of cold storage facilities across the globe. Also, the rising incidents of unwanted natural calamities and other crises are boosting the need for cold storage facilities to store food and other pharmaceutical products. The public segment accounted for the largest share of the cold storage market. The public segment accounted for 66.8% of the total cold storage in the year 2022 and is projected to maintain its dominance during the forecast period.

Based on the application type, the cold storage market is segmented into dairy products, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. The rise in inclination toward processed food and the busy lifestyle of consumers are boosting the requirement for products with longer shelf life as well as convenient food products, which creates the demand for cold storage facilities. In addition, the growing need for online delivery services and the rising population are boosting the demand for cold storage to store dairy products, meat and seafood, processed foods, and pharmaceutical items, among others. The meat and seafood segment accounted for the largest share of the cold storage market. The meat and seafood segment accounted for 31.2% of the total cold storage in the year 2022 and is projected to maintain its dominance during the forecast period.

The global cold storage market report is classified based on temperature type, warehouse type, application, and geography. Based on temperature type, the cold storage market is segmented into chilled and frozen. In terms of warehouse type, the cold storage market analysis is segmented into public, private, and semi-private. In terms of application, the cold storage market analysis is segmented into dairy products, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. In termsof geography, the global cold storage market report is segmented into five major regions: Europe, Asia Pacific (APAC), North America, Middle East & Africa (MEA), and South America (SAM).

Constellation Cold Logistics Sarl, Nafta Frigorificos Sa De Cv, Superfrio Armazens Gerais SA, Tippmann Group, Nichirei Corp, Frialsa Frigorificos Sa De Cv, Friozem Armazens Frigoreticos Ltda, Emergent Cold Latam Management LLC, Americold Realty Trust Inc, Lineage Logistics Holdings LLC, Burris Logistics Co, Chiltern Cold Storage Group Ltd, United States Cold Storage Inc, and Newcold Cooperatief UA are among the prominent players profiled in the cold storage market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. Storage capacity expansion and the inauguration of new cold storage facilities with advanced technologies such as automation and digitalization are major schemes adopted by these companies to improve their foothold in the global cold storage market. Furthermore, Lineage Logistics, Americold Logistics, United States Cold Storage, Inc., Nichirei Logistics Group, Inc., and Interstate Warehousing, Inc. are a few of the noteworthy global logistics and cold storage service providers that focus on expanding their cold storage capacities to meet the growing demand of storage space worldwide.

Both primary and secondary sources have derived the overall cold storage market forecast. Secondary research has been conducted using internal and external sources to attain quantitative and qualitative information related to the market size of the cold storage market. The procedure also helps obtain an overview and cold storage market forecast with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the cold storage market. In addition, several other essential cold storage market players were also analyzed to get a holistic view of the global cold storage market and its network.