Global Cold Storage Market to Reach $62.79 Billion by 2029, Growing at 8.3% CAGR

What combination of drivers is leading to accelerated growth in the cold storage market?
The growth of the cold storage market is expected to be fueled by the rise in perishable products. Perishable items, such as fruits, vegetables, dairy products, pharmaceuticals among others deteriorate swiftly and have a limited lifespan. The escalating trade in perishables necessitates the cold storage market to offer superior quality products to their clientele. For instance, the United States Department of Agriculture, a federal agency based in the US, published a report in August 2023 predicting that California's contracted tomato production is expected to reach 12.9 million tons for 2023, reflecting an average yield of 50.8 tons per acre. This represents a rise of 23% from the previous year's 10.5 million tons and it is 2% more than the projection made in May. The anticipated harvested area is 254,000 acres, marking a 13% increase from 2022. Hence, the growing trade in perishables will boost the demand for cold storage.

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What is the projected compound annual growth rate (CAGR) of the cold storage market from 2025 to 2034, and what factors influence it?
The market size of the cold storage industry has notably surged in the past few years. It is set to increase from $41.67 billion in 2024 to $45.61 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. The historic growth phase has been influenced by the elevated demand for dairy products, which has stimulated the need for cold storage. Other significant factors promoting growth include the escalating demand emanating from the processed food and healthcare sectors, advancements in technology, an emphasis on quality and product sensitivity, and a rise in food exports.

The market size of cold storage is projected to experience robust growth in the coming years, expanding to $62.79 billion by 2029 with a compound annual growth rate (CAGR) of 8.3%. Factors contributing to this forecasted growth include a rising and aging population, the growing utilization of automation, strong governmental backing, escalating investments, the swift expansion of e-commerce, and the increased intake of packaged foods. Key trends during this forecast period will be an emphasis on quality and product sensitivity, businesses implementing sustainability initiatives, the advent of smart warehousing, the application of IoT in facilitating cold storage, and strategic mergers and acquisitions.

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How are the latest trends influencing the growth of the cold storage market?
Big players in the cold storage market are leveraging new automation technologies such as intelligent last-mile delivery platforms to maintain their market standing. Such platforms in cold storage enhance the dispersion of items that need strict temperature maintenance, by merging sophisticated inventory management systems and real-time monitoring to guarantee efficient and dependable deliveries. For example, in September 2022, Celcius Logistics, a cold-chain marketplace startup from India, introduced a savvy last-mile delivery platform designed to tackle key problems in India's cold supply chains. The platform includes a distinct Inventory Management System (IMS) and is bolstered by collaborations with vehicle owners and automotive producers to establish a robust network of refrigerated vehicles. Initially starting its services in six metropolitan regions, Celcius has plans to venture into tier-2 cities within a span of six months.

What are the major segments of the cold storage market and their role in driving growth?
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

Subsegments:
1) By Private And Semi-Private: Private Cold Storage, Owned by Individual Companies For Exclusive Use, Customized Solutions For Specific Inventory Needs, Semi-Private Cold Storage, Shared Facilities Among a Limited Number Of Users, Flexible Space Allocation And Shared Operational Costs
2) By Public: Open To Multiple Clients And Businesses, Services Offered On Rental Basis, Typically Larger Facilities That Accommodate Various Products

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Which regions are key players in the growth of the cold storage market?
North America was the largest region in the cold storage market in 2024. 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.

Who are the key firms paving the way for growth in the cold storage market?
Major companies operating in the cold storage market include Americold Logistics LLC, Burris Logistics, 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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What Is Covered In The Cold Storage Global Market Report?

•Market Size Forecast: Examine the cold storage market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the cold storage market for a structured understanding.
•Key Players Overview: Analyze major players in the cold storage market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cold storage market.
•Segment Contributions: Evaluate how different segments drive overall growth in the cold storage market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cold storage market.
•Industry Challenges: Identify potential risks and obstacles affecting the cold storage market.
•Competitive Landscape: Review strategic developments in the cold storage market, including expansions, agreements, and new product launches.

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