Cold Storage Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Cold Storage Market Size accounted for USD 115.6 Billion in 2021 and is estimated to achieve a market size of USD 323.6 Billion by 2030 growing at a CAGR of 12.5% from 2022 to 2030. The rising demand for perishable products is driving the worldwide cold storage market. In addition, the growing health consciousness about the benefits of organic food consumption, including fresh milk products, vegetables and fruits, meat, eggs, and seafood due to their protein content, is driving the cold storage market growth.
Cold Storage Market Report Key Highlights
- Global cold storage market revenue intended to gain USD 323.6 billion by 2030 with a CAGR of 12.5% from 2022 to 2030
- Based on construction type segment, production stores accounted for more than half of total market share in 2021
- North America is the dominant region, with over 35% of the market in 2021, while Asia-Pacific is expected to rise rapidly from 2022 to 2030
- According to cold storage market research, the dairy sector is predicted to expand at a CAGR of 13.5% between 2022 and 2030
- Americold Logistics, Nichirei Corporation, Kloosterboer, Tippmann Group, Agro Merchants Group, etc are some of the key players operating in the industry
- According to the IIFIIR, the total efficiency of refrigerated warehouses globally in 2020 was 719 million cubic meters, a 16.7% increase over the capacity reported in 2018
- Rising foreign direct investments in emerging nations, fuels the cold storage market
Cold storage refers to the preservation of food or other preservative items in a refrigerator or other cold space. It is the most efficient space for bulk handling of perishable or fresh goods products for marketing and production, particularly vegetables and fruit. It is also used to keep such commodities fresh by controlling different gases and maintaining proper humidity and temperature within the storage solution. Cold storage has applications in the food processing industry as well as other industries such as biotechnology, pharmaceuticals, and medicine. In a globalized economy, consumption of various goods and products has increased dramatically, boosting demand for the cold storage market. Furthermore, one of the primary benefits of cold storage is that it tends to slow the rate of biochemical reactions and the expansion of microorganism enzymes in foods.
Global Cold Storage Market Dynamics
Market Drivers
- Increasing consumer demand for perishable products
- Expansion in international food trade due to trade economic liberalization
- Technology development in refrigerated equipment and systems
- Rising foreign direct investments in emerging economies
Market Restraints
- High energy costs and the need for huge capital investments
- Environmental problems concerning greenhouse gas emissions
Market Opportunities
- Expansion in the organized retail sector
- Increasing government funding for infrastructure development in order to reduce post-harvest and processed food waste
Cold Storage Market Report Coverage
| Market | Cold Storage Market |
| Cold Storage Market Size 2021 | USD 115.6 Billion |
| Cold Storage Market Forecast 2030 | USD 323.6 Billion |
| Cold Storage Market CAGR During 2022 - 2030 | 12.5% |
| Cold Storage Market Analysis Period | 2018 - 2030 |
| Cold Storage Market Base Year | 2021 |
| Cold Storage Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Warehouse Type, By Construction Type, By Temperature Type, By Application, And By Geography |
| Cold Storage Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Americold Logistics, Nichirei Corporation, Agro Merchants Group, United States Cold Storage, VersaCold Logistics Services, Coldman, Lineage Logistics Holdings, Burris Logistics, Kloosterboer, Tippmann Group, Henningsen Cold Storage Co, and Congebec Inc. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The expansion of international trade as a result of trade liberalization is the primary factor propelling the global cold storage market size. Trade liberalization, improvements in transportation and communication systems, and the expansion of multinational corporations in the food retail industry have all contributed to an increase in globalization. It has increased global trade in perishable products such as dairy and frozen desserts, vegetables as well as fruits, fish, and seafood, meat, as well as a bakery and confectionery consumer items. The reduction of tariffs and non-tariff obstacles to global trade has accelerated the advancement of perishable products across borders. This is the primary driver of the global cold storage market value.
Furthermore, rising hygiene awareness is shifting consumption patterns toward ready-to-cook meals. Frozen food is popular among consumers because of its convenience of use in aspects of packing methods and assistance for microwave cooking. Moreover, the market has benefited greatly from the strict regulations governing the manufacture and distribution of temperature-sensitive goods. Furthermore, rapidly increasing automation in cold storage warehouses is expected to boost demand even more. Favorable demographic and socioeconomic factors such as urbanization, rising population, discretionary income, and rising living standards are expected to drive the growth of the global cold storage market share.
Cold Storage Market Segmentation
The worldwide cold storage market is split based on warehouse type, construction type, temperature type, application, and geography.
Cold Storage Market By Warehouse Type
- Private
- Public
In terms of warehouse type, the private segment is projected to grow rapidly in the market over the next few years. Such is due to higher investments by general merchandise behemoths in building warehouses to provide a speedy delivery at a low cost. The accelerated expansion of e-commerce groceries and food is expected to propel the segment growth even further. The growing participation of retail behemoths in digital and delivery services companies or organizations has necessitated the construction of their own storage facilities in order to provide convenient and quick shipment to their consumers. This factor is accelerating the growth of this market segment.
Cold Storage Market By Construction Type
- Bulk Storage
- Ports
- Production Stores
According to cold storage industry analysis, the production store segment is predicted to expand at the fastest pace in the market over the next few years. This type of storage facility is ideal for mass storage of vegetables and fruits as well as for extending the accessibility of other bulk materials including flour, cooking ingredients, as well as canned goods by preserving them from deterioration and keeping them out of direct sunlight.
Cold Storage Market By Temperature Type
- Frozen
- Chilled
Based on temperature type, the frozen segment dominates the market, accounting for more than three of the fourth market shares in 2021. Excessive consumption of frozen and packaged food products in emerging markets, as well as growing preference for frozen products in a growing industry, are major drivers of frozen segment growth. Fruits, vegetables, fish, dry fruits, eggs, meat, dairy products, as well as other items are commonly stored at freezing temperatures. Due to growing demands for perishable food items and growing awareness about the unaltered nutrients in prepared foods, this segment is predicted to be dominant throughout the forecast timeframe.
Cold Storage Market By Application
- Fruits & Vegetables
- Processed Food
- Dairy
- Pharmaceuticals
- Fish, Meat & Seafood
According to the cold storage market forecast, the fish, meat, and seafood segment is predicted to be the fastest-growing section during the projected timeline. The demand for sophisticated cold storage systems is rising due to the rising demand for different types of meat among consumers globally, including fish, beef, lamb, poultry, and pork.
Cold Storage Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
Geographically, North America is expected to be the prominent region in the global market in 2021. The implementation of sophisticated technologies, changing demographics, and the proliferation of the internet of things are the major factors driving the region's market growth. The United States is expected to experience accelerating growth in North America as a result of the expansion of the warehouse network and significant investments in the warehousing and logistics infrastructure. Furthermore, the growing use of cold storage in the organized retail sector has positively impacted the region's cold storage market growth. Consumers' increased awareness of frozen meals, their hectic and busy schedules, and their increased discretionary income are the key factors driving the expansion of the cold storage market in North America.
Cold Storage Market Players
Some of the top cold storage companies offered in the professional report include Americold Logistics, Nichirei Corporation, Agro Merchants Group, United States Cold Storage, VersaCold Logistics Services, Coldman, Lineage Logistics Holdings, Burris Logistics, Kloosterboer, Tippmann Group, Henningsen Cold Storage Co, and Congebec Inc.
Frequently Asked Questions
What is the size of global Cold Storage market in 2021?
The estimated value of global cold storage market in 2021 was accounted to be USD 115.6 Billion.
What is the CAGR of global cold storage market during forecast period of 2022 to 2030?
The projected CAGR cold storage market during the analysis period of 2022 to 2030 is 12.5%.
Which are the key players operating in the market?
The prominent players of the global cold storage market are Americold Logistics, Nichirei Corporation, Agro Merchants Group, United States Cold Storage, VersaCold Logistics Services, Coldman, Lineage Logistics Holdings, Burris Logistics, Kloosterboer, Tippmann Group, Henningsen Cold Storage Co, and Congebec Inc.
Which region held the dominating position in the global cold storage market?
North America held the dominating cold storage during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for cold storage during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global cold storage market?
Increasing consumer demand for perishable products, as well as expansion in international food trade due to trade economic liberalization drives the growth of global cold storage market.
By construction type segment, which sub-segment held the maximum share?
Based on construction type, production stores segment is expected to hold the maximum share cold storage market.
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