Cold Storage Market Size & Share Analysis Report, 2022

According to Precision Business Insights (PBI), the global cold storage market size was valued at USD 307.4 billion in 2021 and is poised to grow at a significant CAGR of 14.3% during the forecast period 2022 to 2028. The ability of food or anything else to survive in a refrigerator or another cold environment is known as cold storage. Food preserved in freezers lasts for a longer time. Also, while storing or shipping temperature-sensitive goods, it plays a crucial role in supply chain management. The possibility of temperature-sensitive products being wasted is significantly reduced by cold storage technology office advantages including cutting-edge refrigeration equipment and maintenance and tracking systems for varied products like fruits and vegetables. Building a cold storage facility involves adequately sealing the area and maintaining a low temperature by eliminating heat with refrigeration equipment. Fruits and vegetables can considerably lessen spoiling by being kept at low temperatures, which also lengthens the shelf life of edible oils. Facilities are needed, such as a dock-to-stock procedure, humidity and moisture control systems, assured inventory counts, and catastrophe preparedness plans. Cold storage warehouses can be erected in a variety of locations.

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Cold Storage Market Growth Factors:
The expansion of international trade as a result of trade liberalisation is the major factor propelling the global cold storage market. Trade liberalisation, improvements in transportation and communication systems, and the expansion of multinational corporations in the food retail industry have all contributed to an increase in globalisation. Perishable commodities like dairy and frozen desserts, fruits and vegetables, meat, fish, and seafood, as well as bread and confectionery products, have seen an increase in international trade. The rapid expansion of the cross-border movement of perishable goods has been promoted by the reduction of tariffs and non-tariff trade obstacles. This is the primary driver of the global market for cold storage.

The global Cold Storage Market Segmentation
1) By Warehouse Type: Private & semi-private, Public
2) By Construction Type: Bulk storage, Production stores, Ports
3) By Temperature Type: Chilled, Frozen
4) By Application: Fruits & vegetables, Dairy, Fish, meat & seafood, Processed food, Pharmaceuticals

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Cold Storage Market Regional Analysis:
In 2023, the North America geographical segment dominated the market and contributed more than 35.5% 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.

Key players in the Cold Storage Market report are Americold Logistics LLC, Cloverleaf, Congebac Inc., Henningsen Co., Kloosterboer, Lineage Logistics Holdings, NewCold, Nichirei Corporation, Snowman Logistics Pvt Ltd, VersaCold Logistics Services, Wabash National Corporation, Pioneer Cold Logistics Services, ISOC Holdings, Inc

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