Cold Storage Market Overview
The compound rate of the Cold storage (CS) market’s value estimates at 14% for the forecasting period 2022-2030. It may reach up to 397.34 USD billion by the period.
Analysts have projected rapid growth in the Cold Storage market’s share in the future. The rise in demand for perishable food products, processed food, and medical equipment are the key drivers dominating the expansion of the market size and structure. Although, the market has received benefits from the supply of temperature-sensitive products. Though, the trading industry assures of the development in upcoming years. The growing retail sectors and increasing automation in refrigerated warehouses expect a rise in demand shortly.
The cold storage accredits the endurance of food or any other element in a deep freezer or icebox. Keeping food items in the refrigerator prevents the items from food spoilage. Thus, cold storage management is now an essential part of Supply Chain Management. It helped the temperature-sensitive products store and transported quickly from one place to another. Plus, it offers advanced refrigeration technology, maintenance, and tracking for fruits, vegetables, etc. With the help of advancement functions, the possibility of food wastage decreases itself.
The cold storage is built by locking the space and decreasing its temperature simultaneously. It does so by using heat removal equipment of the refrigerator. Meanwhile, keeping food at low temperatures can reduce spoilage, increasing the lifespan of cooking oils. However, to do so, it requires many facilities like dock-to-stock process, humidity control system and condensation, calculates guaranteed inventory counts, etc. All these factors provide better functioning to the frozen food locker. Its functionalities and growth of the multinational food retail sector are driving the global cold storage market to new heights.
However, the CoViD-19 outbreak has adverse impacts on almost every industry. Following the global restrictions, cold storage disrupted the supply chain of the food market under government orders. Investments also went down in the situation. Like any other market, the CS market is also struggling to lead the path.
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The major market players in the market are
- Lineage Logistics Holdings (US)
- Americold Logistics LLC (US)
- Nichirei Corporation (Japan)
- Kloosterboer (Netherlands)
- Tippmann Group (US)
- The United States Cold Storage (US)
- Henningsen Cold Storage Co. (US)
- VersaCold Logistics Services (Canada)
- Congebac Inc. (Canada)
- NewCold (Netherlands)
- Snowman Logistics Pvt Ltd (India)
- Wabash National Corporation (US)
- Cloverleaf Cold Storage (US)
Cold Storage Market Segmentation
The market segmentation of cold storage relies on five things, i.e., warehouse, temperature, construction, application, and region. Warehouse type classifies into public, private, and semi-private areas. The market segment based on temperature divides into two things, i.e., chilled and frozen. Based on construction, the market segments into time, cost of building material operation, and maintenance. Moreover, the application segments into processed food, vegetable, fruits, dairy products, seafood, and pharmaceuticals.
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The regional classification of the cold storage market classifies into Europe, North America, South America, the Asia-Pacific region, and MEA. Among all the areas, the dominance of North America at the growth of the Cold storage market is higher. The United States, Mexico, and Canada drive North America’s market. The economic changes and government rules in Mexico may strive to build demand in the upcoming period. Meanwhile, there are possibilities seen in Asia-Pacific countries to head the competition in the future.
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- May 2021- Fort Worth has recently made a cold storage acquisition in Phoenix.
- Recently the Americold Logistics LLC has acquired Hall’s Warehouse Corp to take over the market of New Jersey. Major corporates in the present scenario are merging and acquiring local players to expand on the potential markets. This acquisition has enabled Americold Logistics to thrive on additional storage space of 58 million cubic feet and 2.00.000 pallet positions.
- After acquiring Agro Merchants Group, Americold Logistics became the fourth largest operator of cold storage in the world. The company has set a firm foot in the global market size for its operations in Europe, the US, South America, and Australia.
- The Single- Envelope construction technology is the new development in the production store segment of the market. This new technology helps to reduce the time and cost of new constructions. It also enables flexible placement of Heating, Ventilation, and A.C. equipment.
Table of Content
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3.1 Primary Research
3.2 Secondary Research
3.3 Market Capacity Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
Global Cold Storage Market, By Type
6.2 Refrigerated Warehouse
6.2.1 Market Estimates & Forecast, 2020-2026
6.2.2 Market Estimates & Forecast, By Region, 2020-2026
6.3 Refrigerated Transport
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