Cold Storage Market Synopsis

Cold Storage Market Size was Valued at USD 140.76 Billion in 2023, and is Projected to Reach USD 600.94 Billion by 2032, Growing at a CAGR of 17.5% From 2024-2032.

The development of the Pharmaceutical and the health care sector, development of refrigeration technology, increased demand on perishable products has greatly boosted the cold storage market. There is a great pressure required as a result of growing population, which calls for proper cold storage in order to store frozen foods, the dairy products and fresh produce. In addition, the increasing popularity of e-commerce and consequent need for prompt and effective delivery of perishable goods accelerate the market. The cold storage market is getting further development owing to the development in global supply chain and the innovation of new energy-saving cold storage solutions.

• The need for proper cold storage to store and preserve food quality and safety due to more orders on groceries during the pandemic and the expansion of e-commerce is on the rise.Sophisticated technologies in the cold storage industry include ASRS and energy efficient chillers to enhance operations and operating costs.
• The few cold storage facilities which are able to keep set temperatures high are now in demand more than before especially because of the pharma industry growth especially in the production and distribution of vaccines and biologics. Shift in the consumers’ eating habits and growing disposable income are the main factors that have boosted the cold storage investments which in turn are helping the new economy markets to grow.

Cold Storage Market Trend Analysis

Technological Advancements in Cold Storage

• Presents,While the modern cold storage are gradually adopting automation and IoT. Computerized systems control temperature and humidity to maintain the right conditions at all times, thus minimising the amount of manual work and the number of mistakes made, and IoT technology speeds up processes. Energy saving technologies including improved types of insulation and variable speed drives are some of the factors that causes minimization of carbon foot print and operation costs for cold storage facilities. Moreover, there is growth in the use of renewable energy sources comprising of solar and global wind.
• As a result of global regulations and legal standards, as well as the need to meet customer expectations and create more sustainable systems, the foodcold supply chain industry is moving towards the use of natural refrigerants with low GWP. Sophisticated tracking systems as well as enhanced packaging ensure product quality from the point of production to the consumer. This trend is in line with trends in pharmaceuticals, fresh and frozen foods and other perishable goods.

Expansion of E-commerce and Grocery Delivery Services

• The globalized e-commerce sales, enhanced by the outbreak of COVID-19, have raised the need for cold storage facilities. Trends showing that consumers are now shopping most of their needs online including fresh produce and perishable goods dictate the need for an efficient cold chain logistics system. As we see the growth of e-commerce grocery shops, firms need large storage facilities to store perishable goods and deliver them to consumers. This trend thus appears large in those areas that have high demand for fast delivery.
• New applications in the refrigeration equipment in the cold storage facilities that include the robotic systems and IoT in managing temperature provide improved efficiency and reliability. All of these developments address the peculiarities of the e commerce and grocery delivery; storage conditions are met and waste is kept to a minimum. More specifically current large e-commerce producers and grocery companies are looking to spend a lot of money in increasing cold storage infrastructure. This involves setting new plants and expanding the existing ones to meet the rising need and be in a position to meet market needs effectively.

Cold Storage Market Segment Analysis:

Cold Storage Market Segmented on the basis of By Type, By Temperature Type and By Application

By Type, Refrigerated Warehouse segment is expected to dominate the market during the forecast period

• Several key factors are driving the robust growth of the global cold storage market, which includes refrigerated warehouses and refrigerated transport. First, increasing demand for perishable goods storage, including food and pharmaceuticals, fuels market expansion. Second, technological advancements in refrigeration systems enhance efficiency and sustainability, attracting investment. Third, stringent regulations mandating temperature-controlled storage for pharmaceuticals and food safety contribute to market growth.
• Lastly, the rise of e-commerce and online grocery platforms necessitates efficient cold chain logistics, further boosting demand for cold storage facilities. Due to their established infrastructure and regulatory compliance, North America and Europe dominate the market, with Asia-Pacific emerging as a significant growth region due to rapid urbanization and expanding food retail sectors. Technological innovation, regulatory requirements, and shifting consumer preferences towards fresh and perishable products are driving the cold storage market's overall expansion.

By Application, Dairy and Frozen Desserts segment held the largest share in 2024

• Depending on the application, the global refrigerated storage market contains a few significant segments dividing it. First of all, cold storages are required to meet fresh and qualitative requirements in dairy and frozen material products among which ice cream and cheese are most popular. Secondly, low temperature regulation assists in avoiding spoilage chance apart from ensuring that the food meets safety standards of seafood, poultry as well as fish. Third, the importance of refrigerated storage is in maintaining texture and shelf life of baked goods, confectionery products including, cakes, chocolates etc.
• Fourth, cold storage which is the conservation of fruits and vegetables does retain the nutritional value and also slows up the maturation process. It helps to manage the supply chain and avoid wasting food by promoting the use of cold storage around the word for these uses. The market is growing as people across the world consume more food, the trend of people moving to cities is still rising, and in the process, technological changes in refrigeration have advanced as well. The refrigeration storage industry is constantly adapting to meet new future needs, implementing concepts such as sustainable and automation as consumers’ desire for fresher and higher quality food continues to rise.

Cold Storage Market Regional Insights:

Asia-Pacific Cold Storage Market is expected to grow at the fastest CAGR from 2024 to 2032.

• Frozen and convenience food; and perishable goods like dairy products and poultry and seafoods will continue to gain more demand as more and more populations in the Asia Pacific countries become more urbanized and have higher disposable incomes. Cold storages are required necessary for preserving such products in their quality and freshness from one end of supply chain to the other end.The growth of supermarkets, hypermarkets and convenience stores has made it more imperative to have strong cold storages for keeping the perishable products at desirable temperature levels. This trend is especially typical for emergent economies, which have quickly overgrown their retail networks.
• Innovation in cold chain, and especially in refrigerator technologies enhances the effectiveness of the storage depots. Cost saving solutions such as, automation, IoT enabled monitoring systems, advanced refrigerants contribute in making operations more efficient. The existing favourable government policies aimed at an improvement of standards of food safety and the prevention of food wastage are encouraging investors to put their money in cold storage facilities. Some of the measures include subsidizing cold chain and setting legal measures that insist on handling foodstuff under a given temperature.

Active Key Players in the Cold Storage Market

• Lineage Logistics Holdings (US)
• Americold Logistics LILC (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 Pt Ltd (India)
• Wabash National Corporation (US)
• Cloverleaf Cold Storage (US)
• Others

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Cold Storage Market by Type
 4.1 Cold Storage Market Snapshot and Growth Engine
 4.2 Cold Storage Market Overview
 4.3 Square Drains
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Square Drains: Geographic Segmentation Analysis
 4.4 Trench Drains
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Trench Drains: Geographic Segmentation Analysis
 4.5 Others
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Others: Geographic Segmentation Analysis

Chapter 5: Cold Storage Market by Application
 5.1 Cold Storage Market Snapshot and Growth Engine
 5.2 Cold Storage Market Overview
 5.3 Household Used
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Household Used: Geographic Segmentation Analysis
 5.4 Commercial Used
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Commercial Used: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Cold Storage Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 LINEAGE LOGISTICS HOLDINGS (US)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 AMERICOLD LOGISTICS LILC (US)
 6.4 NICHIREI CORPORATION (JAPAN)
 6.5 KLOOSTERBOER (NETHERLANDS)
 6.6 TIPPMANN GROUP (US)
 6.7 THE UNITED STATES COLD STORAGE (US)
 6.8 HENNINGSEN COLD STORAGE CO (US)
 6.9 VERSACOLD LOGISTICS SERVICES (CANADA)
 6.10 CONGEBAC INC (CANADA)
 6.11 NEWCOLD (NETHERLANDS)
 6.12 SNOWMAN LOGISTICS PT LTD (INDIA)
 6.13 WABASH NATIONAL CORPORATION (US)
 6.14 CLOVERLEAF COLD STORAGE (US)
 6.15 OTHERS

Chapter 7: Global Cold Storage Market By Region
 7.1 Overview
 7.2. North America Cold Storage Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Type
   7.2.4.1 Square Drains
   7.2.4.2 Trench Drains
   7.2.4.3 Others
  7.2.5 Historic and Forecasted Market Size By Application
   7.2.5.1 Household Used
   7.2.5.2 Commercial Used
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Cold Storage Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Type
   7.3.4.1 Square Drains
   7.3.4.2 Trench Drains
   7.3.4.3 Others
  7.3.5 Historic and Forecasted Market Size By Application
   7.3.5.1 Household Used
   7.3.5.2 Commercial Used
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Cold Storage Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Type
   7.4.4.1 Square Drains
   7.4.4.2 Trench Drains
   7.4.4.3 Others
  7.4.5 Historic and Forecasted Market Size By Application
   7.4.5.1 Household Used
   7.4.5.2 Commercial Used
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Cold Storage Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Type
   7.5.4.1 Square Drains
   7.5.4.2 Trench Drains
   7.5.4.3 Others
  7.5.5 Historic and Forecasted Market Size By Application
   7.5.5.1 Household Used
   7.5.5.2 Commercial Used
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Cold Storage Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Type
   7.6.4.1 Square Drains
   7.6.4.2 Trench Drains
   7.6.4.3 Others
  7.6.5 Historic and Forecasted Market Size By Application
   7.6.5.1 Household Used
   7.6.5.2 Commercial Used
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Cold Storage Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Type
   7.7.4.1 Square Drains
   7.7.4.2 Trench Drains
   7.7.4.3 Others
  7.7.5 Historic and Forecasted Market Size By Application
   7.7.5.1 Household Used
   7.7.5.2 Commercial Used
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research