Frozen Storage Market Share, Trends, Growth Rate, Industry Report And Forecast To 2033

The frozen storage market size has grown strongly in recent years. It will grow from $134.65 billion in 2023 to $146.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to changing consumer lifestyles and dietary habits, globalization and supply chain dynamics, rise in quick-service and frozen food retailers, seasonal demand for frozen products, increased urbanization and convenience..

The frozen storage market size is expected to see strong growth in the next few years. It will grow to $205.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to expansion of e-commerce in grocery and food delivery, health and wellness trends, technological innovations in cold chain logistics, globalization of food supply chains, focus on food safety and quality.. Major trends in the forecast period include e-commerce and online grocery, globalization of food supply chains, health and safety standards, customization and scalability, urbanization and convenience foods..

Market Overview -
Frozen storage refers to the storage of various products, such as vegetables, seafood, fruits, and others, at a temperature below 32°F in cold storage facilities. Frozen storage units are meant to store food items to maintain the nutritional value and freshness of products.

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Surging Perishable Product Demand Propels Growth In The Frozen Storage Market
The rising demand for perishable products is expected to propel the growth of the frozen storage market going forward. Perishable products refer to those food items that get spoiled or damaged if not stored at 40 °F or below, or not frozen at 0 °F or below. Perishable food items such as fresh vegetables, fruits, frozen foods, pharmaceutical products, and others are refrigerated or kept in cold storage to reduce the rate of food deterioration. Hence, the rise in demand for perishable products will required frozen storage facilities to keep them safe, which will increase the demand for market. For instance, in June 2021, according to the Australian Bureau of Statistics, an Australia-based government organization, the annual revenue generated by perishable goods rose around 3% in the year 2021. The perishable goods revenue in January 2020 was 7.4 % as whereas total revenue in the year 2021 accounted for 9%. Therefore, the rising demand for perishable products is driving the growth of the frozen storage market going forward.

Competitive Landscape -
Major companies operating in the frozen storage market report are Americold Logistics Inc., Lineage Logistics Holdings LLC, Burris Logistics Company, Barloworld Limited, Henningsen Cold Storage Co., Wabash National Corporation, Nichirei Corporation, AGRO Merchants Group LLC, United States Cold Storage Inc., Kloosterboer Group B.V., Tippmann Group, VersaCold Logistics LLC, John Swire & Sons Ltd., Consolidated Transfer & Warehouse Co. Inc., Swire Cold Storage Pty. Ltd., The Schwan Food Company, Congebec Logistics Inc., Interstate Warehousing Inc., Frialsa Frigorificos S.A. De C.V., Conestoga Cold Storage Ltd., Oxford Express Private Limited, Zero Mountain Inc., Montague Cold Storage Pty Ltd., Bring Frigo SL, Confederation Freezers, Trenton Cold Storage Inc., Nor-Am Cold Storage, Superfrio Logistica Frigorificada, FreezPak Logistics, METCOLD Supply Network Management Limited, Friozem Armazens Frigorificos Ltda., Magnavale Ltd., Vertical Cold Storage, ColdPoint Logistics LLC, Preferred Freezer Services LLC, Gruppo Marconi Logistica Integrata, Hanson Logistics Ltd., Agri-Norcold A/S .

Technological Advancements Revolutionize The Frozen Storage Market Landscape
Technological advancement is the key trend gaining popularity in the frozen storage market. Major companies operating in the frozen storage market are adopting new technologies to sustain their position in the market. For instance, in October 2021, Quantum Corporation, a US-based technology, software, and service provider, launched ActiveScale Cold Storage, a new innovative technology for cold storage. ActiveScale technology provides a combination of advanced object store software and hyper-scale tape technology that provides low-cost, secure, and highly durable storage for archiving cold data. ActiveScale's two-dimensional erasure coding (2D EC) software encrypts data between and across tapes, tape drives, libraries, and geographically distributed data centers while also offering industry-leading data access performance, durability, and storage efficiency.

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Key Segments -
The frozen storage market covered in this report is segmented -
1) By Warehouse Type: Private and Semi-private, Public
2) By Construction: Bulk Storage, Production Stores, Ports
3) By Application: Processed Food, Fruits and Vegetables, Fish, Meat, and Sea Food, Pharmaceuticals, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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