Global Cold Storage Market By Warehouse Type (Private & Semi-private and Public), By Construction Type (Bulk Storage, Production Stores, and Ports), By Temperature Type (Chilled and Frozen), By Application (Fruits & Vegetables, Dairy, Fish, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Cold Storage Market Overview:

The global cold storage market was worth USD 120,500 million in 2021. It is expected to grow at a CAGR of 13.5% between 2023 and 2032.

The strict laws that control the manufacture and distribution of temperature-sensitive goods have greatly benefited the market. The industry is poised for record-breaking growth as a result of the expansion of organized retail sectors in emerging economies. Increasing automation in refrigerated storage will increase demand even more.

Global Cold Storage Market

Warehouse Type Analysis

Public warehouses accounted for 65 percent of global sales in 2021, making it the market’s largest category. The type of warehouse used can be used to segment the cold storage market.

Public warehouses are independent companies that provide a range of services for a variable fee or fixed including storage, handling, and shipping. Individuals or organizations may possess public warehouses, commonly referred to as duty-waged storage units.

Proprietary warehouses are another name for private warehouses. The same business that owns the goods stored & handled in the facility also owns them and the buildings they are built-in. They could function as a separate department within a company.

They provide control over costs, flexibility, as well as the capability to make decisions about the facility’s priorities and overall activities. Due to the high costs of building and maintaining warehouses, large companies cannot afford them. Private warehouses can be either done on-site or off-site. On-site warehouses can be located at either a central location or at various manufacturing facilities.

Construction Type Analysis

The market’s largest segment, production stores, accounted for 50% of global revenue share in 2021. This new technology will allow for a shorter construction time, lower costs, easier maintenance and operation, as well as allowing for future flexibility.

With the use of this technology, HVAC equipment placement is flexible. Based on the kind of building, the market may be classified into three categories: production facilities, bulk storage, and ports.
Bulk storage is predicted to magnify at a 14.5 percent CAGR during the projection period. It enables you to expand the accessibility of bulk supplies like cooking ingredients, wheat, and canned products.

Ports will also experience a tremendous increase. The customs processes are necessary for the of temperature-sensitive goods imported & export. IT can be made simpler by building refrigerated warehouses close to ports. Government efforts to develop multimodal transportation infrastructure in developing nations like India will cause the industry to expand.

Temperature Type Analysis

Based on the type of temperature, the market can be segmented into frozen and chilled divisions. Frozen goods accounted for 77 percent of global sales in 2021, making them the market’s largest sector.

In rising economies like China and India, frozen food consumption is increasing, which is good news for the frozen food industry. These warehouses maintain a temperature of between -10 and -20 degrees Fahrenheit. Fruits, vegetables, fish, seafood, and other goods are kept frozen in these warehouses.

Storage facilities for fresh produce, eggs, dry fruit, milk, and other goods are included in the chilled segment. Consumer preferences for ready-to-cook meals will change as a result of rising cleanliness and convenience awareness. Due to its convenience and packaging, consumers favor frozen food.

In emerging countries, the rise of organized selling chains such as hypermarkets or supermarkets is driving demand for these products. The deficiency of refrigeration in stores and the existence of many unorganized industry players pose significant challenges for the frozen food market.

Application Analysis

The seafood sector was the market leader, accounting for 35% global revenue share in 2021. Based on the industry’s application, it can be divided into five categories: dairy products; processed foods; fruits & vegetables, meat, fish, seafood, pharmaceuticals, and pharmaceuticals. Packaging improvements will have a significant impact on the fish, meat, and seafood segments.

Refrigeration is essential for dairy products and milk to avoid spoilage. It is crucial to observe the principles of bacteria development when storing dairy products in refrigerators. The pharmaceutical industry is forecast to experience significant growth over the forecast period.

Key Market Segments

Warehouse Type

• Private & Semi-private
• Public

Construction Type

• Bulk Storage
• Production Stores
• Ports

Temperature Type

• Chilled
• Frozen

Application

• Fruits & Vegetables
• Dairy
• Fish, Meat & Seafood
• Processed Food
• Pharmaceuticals

Market Dynamics

Cloud technology, robots, and conveyor belts are all part of warehouse automation. This includes energy management, truck loading automation, robots, and conveyor belts. Refrigerated storage has become an integral part of Supply Chain Management when it comes to transporting and storing temperature-sensitive products.

The growing trade in perishable goods is expected to increase the demand for refrigerated storage solutions in the coming years. Users and suppliers of temperature-controlled packaging systems are striving to reduce the environmental impact of cold chain shipping. The development of suitable packaging systems is also complicated by changing customer expectations, strict government regulations, and raising awareness about corporate social responsibility (CSR).

Companies will face major challenges in expanding their business into emerging markets due to the lack of infrastructure needed to support the cold chain. The lack of power hookups for reefer trucks at ports and transportation hubs will also hinder the market growth. This opens up opportunities for industry players to develop innovative solutions or use alternative energy sources to overcome these issues.

Regional Analysis

North America was the largest market segment and contributed more than 34.5% of the global revenue share in 2021. The region’s growth is driven by the production of related devices and a solid consumer base. Mexico is set to experience an especially rapid rise in North America due to the expansion of the logistics infrastructure and strengthening of its network of warehouses. These are also key factors that will drive demand for cold chains.

In the next few years, the demand will be accelerated by economic growth and the streamlining of the Mexican customs program. China is one example of a country that is moving to a consumer-driven economy. They are likely to see significant growth in the coming years. These emerging markets are being tapped by service providers who can leverage innovative solutions to overcome transportation complexities.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

To meet consumer demand, companies are expanding their business into new regions. Companies are focusing on emerging markets to increase their customer base by acquiring.

Americold Logistics LLC purchased Hall’s Warehouse Corp in New Jersey to further expand its warehouse facilities. This acquisition led to the expansion of storage space of 58,000,000 cubic feet and 2,000,000 pallet positions that can serve 220 customers.

Americold Logistics LLC plans to expand its operations in Europe and South America with the acquisition by Agro Merchants Group. This is the fourth-largest cold storage operator worldwide and the third in Europe. The 46 warehouses serve 2,900 customers. The following companies are major players in the global cold storage market:

Key Market Players

• Wabash National Corporation
• Cloverleaf Cold Storage
• Agro Merchants Group
• Americold Logistics LLC
• Burris Logistics
• Other Key Players

For the Cold Storage Market research study, the following years have been considered to estimate the market size: