Cold Storage Global Market Report 2024 To 2033 | Americold Logistics LLC, Burris Logistics, Nichirei Corporation, United States Cold Storage, Toyo Suisan Kaisha, Ltd

"The Business Research Company recently released a comprehensive report on the Global Cold Storage Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

The Brink's Company, Loomis AB, Prosegur Compania de Seguridad SA, Allied Universal, GardaWorld, CMS Info Systems Ltd, Security and Intelligence Services Ltd., General Secure Logistics Services (GSLS), AXIOM Armored, Global Security Logistic Co, Writer Corporation, Securevalue, Radiant Cash, CEVA Logistics, Fujitsu Frontech Ltd, Hitachi-Omron Terminal Solutions Corporation, Nautilus Hyosung Corporation, Deppon Logistics, FloatApp, Akoni, G4S Plc, Fennech Financial Limited, NoviCap, Intellifas Ltd, Cash Logistics Security AG, Waves Enterprise, BCS World of Investments, UBS Russia, Sberbank, ATON, Viking Cash Logistics, Cosan Group, Green Cash Logistics, Carlyle Group, Rapyd, Giesecke +Devrient, Massar Group, Sanid, APSG, Eraf Group, Alrajhi Bank, Absa Group, SkyQuest Technology, Uni24.co.za, CITASA, Kazang Connect, SBV Services, Umnotho cash Management

Cold Storage Market 2024 Key Insights:

• 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%.
• Surging Demand For Cold Storage Driven By Growing Trade In Perishable Products
• Technological Advancements Driving Innovation In The Cold Storage Market
• North America was the largest region in the cold storage market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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