Press release
Refrigerated Warehousing Market - Global Analysis of Key Manufacturers, Dynamics & Forecast 2021-2027 | Key Player - Trenton Cold Storage, Lineage Logistics Holdings LLC., Americold, Preferred Freezer Services
The refrigerated warehouse is used to store perishable goods which can get decayed under normal conditions. The goods stored in refrigerated warehouse like fruits, vegetable, dairy products among others have specific temperature requirements to keep it fresh. Besides, the refrigerated warehouse eliminates the risk of sprouting and insect damage. Apart from food items, commodities like camera film, blood samples, candles, beverages and others have requirement of refrigerated warehousing. The refrigerated warehousing is connected with logistics like refrigerated containers and refrigerated ships to transport the goods to other location. Moreover, with rise in trade of perishable products in recent years, the demand for refrigerated warehousing market has proliferated.
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COVID-19 scenario analysis:
• Unsurprisingly, the novel coronavirus outbreak has had a significant impact on world’s refrigerated warehousing market.
• Besides, the consumers have started opting for looking out for fresh food instead of preserved food to maintain proper health during the pandemic.
• However, many things in cold chain logistics is expected to change post pandemic. Slowed consumption of food items have increased the need for increased inventory. This, would in turn, rise the demand for refrigerated warehousing market.
• Additionally, lockdown measures have raised the market for e-commerce industry. With expansion of e-commerce industry, the need for cold storage infrastructure will propel.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rising consumption of perishable items is primarily driving the market of refrigerated warehousing. Additionally, rise in demand for frozen products have fueled the refrigerated warehousing market growth. Besides, rising cold storage needs for expanding e-commerce industry and increasing number of supermarkets is fostering the demand for refrigerated warehousing market. Further, growing technological advancements and investments is research and development activities is proliferating the market growth. However, high initial and maintenance cost along with excessive energy consumption is restraining the market. Moreover, growing manufacturers of perishable food products is propelling the market of refrigerated warehousing.
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The refrigerated warehousing market trends are as follows:
Acquisition to drive the market
With rise in demand for perishable products in past decade, the number of acquisitions has proliferated. An acquisition is a great way for a company to achieve rapid growth over a short period of time. Besides, acquisition aids in gaining a competitive edge in challenging landscape. Moreover, acquisition in refrigerated warehousing industry is aimed at increasing the consumer base. In 2020, Lineage Logistics, LLC signed an agreement to acquire Henningsen Cold Storage Co. The strategic moves aim at increasing the network and presence in pacific northwest, with the addition of 14 facilities across Oregon, Washington, Idaho, Pennsylvania, North Dakota and Oklahoma.
Solar refrigerated warehouse to gain traction
The major challenge for refrigerated warehousing industry is high operating cost due to excessive amount of energy required for its operation. As refrigerated warehouse is operated all day without stopping, the average energy consumed by refrigeration systems, freezer doors, and lighting systems is high. Few methods to save energy is implementation of solar power. In 2019, Agency for Non-Conventional Energy and Rural Technology (ANERT) launched solar powered refrigerated warehouse in Kozhikode. The system was installed to preserve coconuts and related products.
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Key benefits of the report:
• This study presents the analytical depiction of the refrigerated warehousing market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Refrigerated Warehousing market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the refrigerated warehousing market research report:
• Which are the leading market players active in the refrigerated warehousing market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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