Cold Storage Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cold Storage Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $57.28 billion In 2028 At A CAGR Of 8.7% :

The cold storage market size has grown strongly in recent years. It will grow from $37.66 billion in 2023 to $41.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growing demand for dairy products to drive the demand for cold storage, increase in demand from processed food and healthcare industry, increase in technology development, focus on quality and product sensitivity and increase in food export.

The cold storage market size is expected to see strong growth in the next few years. It will grow to $57.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing and aging population, increasing use of automation, robust government support, increasing investments, rapid growth in ecommerce and increasing consumption of packaged food. Major trends in the forecast period include focus on quality and product sensitivity, companies taking sustainability initiatives, smart warehousing, use of iot to facilitate cold storage, and strategic mergers and acquisitions.

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Cold Storage Market Major Segments
The cold storage market covered in this report is segmented -

1) By Type: Private And Semi-Private, Public
2) By Construction: Bulk Storage, Production Stores, Ports
3) By Temperature: Frozen, Chilled
4) By Application: Fruits And Vegetables, Dairy, Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Other Applications

Key Driver - Surging Demand For Cold Storage Driven By Growing Trade In Perishable Products

The rising perishable products are expected to propel the growth of the cold storage market going forward. Perishable products are those that easily deteriorate and have a short life span, which includes products such as fruits and vegetables, dairy products, pharmaceuticals, and others. The growing trade of perishables compels the cold storage market to provide better quality products to serve their customers. 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 % whereas total revenue in the year 2021 accounted for 9%. Therefore, the rise in the trade of perishables will increase the demand for cold storage.

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Prominent Trend - Technological Advancements Driving Innovation In The Cold Storage Market

Advancements in technologies are a key trend gaining popularity in the cold storage market. Major companies operating in the cold storage market are using new technologies such as automation in warehouses, taller warehouses with temperature control, and others to sustain their position in the market. For instance, in May 2021, Vertical Cold Storage, a US-based temperature-controlled and dry storage facility provider, unveiled its new cold storage facility, Vertical Cold Facilities. The Vertical Cold Facilities contain the most reliable automation in the industry along with cost-effective refrigeration facilities that use green practices and improve performance through decision-making technology.

Cold Storage Market Players
Major companies operating in the cold storage market report are Americold Logistics LLC, Burris Logistics, Nichirei Corporation, United States Cold Storage, Toyo Suisan Kaisha, Ltd,VersaCold Logistics Services, Lineage Logistics Holdings, Tippmann Group, Snowman Logistics Pvt Ltd, Conestoga Cold Storage, Coldman Logistics, Cold Box India LLP, Rinac India Limited, Singhania Logistics & Distribution Pvt. Ltd, Cold Storage Japan Ltd, Sinotrans Shanghai Cold storage Company, Kerry Logistics Network Limited, Global Cold storage Solutions, China Resources Logistics Limited, Beijing Er Shang Group, Jinjiang International Holdings Co., Ltd, Nichirei Logistics Group Inc, HNA, Valley Food Storage, ACS&T Logistics, VIMA Foods, Logifrio, Cabezuelo Foods, Ebro Foods, CRS IE, Maersk, Ruzave, FREJA Transport & Logistics, Priority Freight, Dropex, Internel Sp. z o.o, NATANEX, PUH Jamax, ARRA GROUP SP. Z O.O. SP. K, NOWAKOWSKI TRANSPORT Sp. z o.o, Fructus Transport, Artrans Transport, NewCold, Frialsa, Qualianz, ARCOSA, Bradner Cold Storage, Congebec, Confederation Freezers, Interstate Warehousing, Inc, Constellation Cold Logistics, Localfrio S/A, Brado Logistica S/A, ComFrio, Martini Meat S/A, Friozem Armazens Frigorificos Ltda, Comfrio SoluCoes LogIsticas, Agility, Al Futtaim, RSA Cold Chain, Sharjah cold stores, Tameem logistics, APG Logistics, GEFCO South Africa, Value Logistics, Transnova Africa, KAP Industrial Holdings Limited, Tsiko Africa Group, Bakers SA Limited, ColdHubs

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cold storage market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the cold storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cold Storage Market Report Structure
3. Cold Storage Market Trends And Strategies
4. Cold Storage Market - Macro Economic Scenario
5. Cold Storage Market Size And Growth
…..
27. Cold Storage Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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