Global Cold Storage Market was valued US$73.96 billion in 2017 and is expected to reach US$212.54 billion by 2026, at a CAGR of 14.11% during a forecast period.
The report is segmented into Warehouse Type, Construction, Temperature, Application and region. Cold Storage Market based on Warehouse Type includes Private & semi-private, and Public. Further, construction classified into Bulk storage, Production stores, and Ports. Chilled and Frozen is derived under temperature segment.
Based on the application, Cold Storage Market segmented into five segments, namely processed food, dairy, fruits & vegetables, fish, meat, & seafood, and pharmaceuticals.
The report covers analysis, market forecast and competitive landscape of the industry by region. Regions are segmented by North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.
Global Cold Storage Market
In terms of construction, production segment is expected to remain dominant over the forecast period. Bulk storage construction type warehouse is suitable for storing fruits and vegetables in bulk.
Based on the temperature type, the frozen segment dominated the market. Warehouses falling under the chilled segment maintain their storage temperature in the ranges of 32-23 °F. They are used to store fresh fruits & vegetables, eggs, dry fruits, milk, dehydrated foods among others. Warehouses falling under frozen segment maintain their storage temperature in the ranges from -10 to -20°F. They are used to store frozen vegetables, fruit, fish, meat, seafood, and other products.
Rising alertness about the hygiene is causing consumer preferences to shift toward ready-to-cook meals. Consumers are favouring frozen food due to the ease of use in terms of packing technique and support for microwave cooking. However, lack of refrigeration facilities in retail stores and inadequate distribution facilities to serve the rural areas pose major challenges to the frozen food market in developing economies.
The major driving growth factor for cold storage market is increasing demand for healthy food, import and export of refrigerated foods, and increasing private sector participation.
Cold storage technologies offer useful features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly lessen the possibility of wastage of temperature-sensitive goods. However, the major challenge for industry players is to expand cold storage market. Due to lack of infrastructure is necessary it is hard to maintain the cold storage market. Additionally, lack of reliable power supply for cold warehouses further increases the operation costs. However, this also opens opportunities for the industry players to develop unique solutions that can overcome the unreliable power supply in emerging markets.
Some of the major key players of the market include Cloverleaf Cold Storage, Agro Merchants Group, Burris Logistics, Americold Logistics LLC, and Wabash National Corporation, Preferred Freezer Services, Burris Logistics, Lineage Logistics Holding LLC, and Nichirei Logistics Co., Ltd., Barloworld Limited, VersaCold Logistics Services, Cloverleaf Cold Storage, Henningsen Cold Storage, AGRO Merchants Group North America, Burris Logistics, Cloverleaf Cold Storage, Nordic Logistics, United States Cold Storage.
Scope of Global Cold Storage Market:
Global Cold Storage Market, By Warehouse Type:
• Private
• Public
• Public-Private
Global Cold Storage Market, By Construction:
• Bulk storage
• Production stores
• Ports
Global Cold Storage Market, By Temperature:
• Chilled
• Frozen
Global Cold Storage Market, By Application:
• Fruits & vegetables
• Dairy
• Fish, Meat & Seafood
• Processed food
• Pharmaceuticals
