Cold Storage Market by Temperature Range (Frozen storage, Refrigerated storage, Ultra-low Temperature Storage), Storage Facility Type (Blast Freezers, Cold Rooms, Refrigerated Containers), Technology, Application, Ownership Model - Global Forecast 2024-20

Cold Storage Market by Temperature Range (Frozen storage, Refrigerated storage, Ultra-low Temperature Storage), Storage Facility Type (Blast Freezers, Cold Rooms, Refrigerated Containers), Technology, Application, Ownership Model - Global Forecast 2024-20

The Cold Storage Market size was estimated at USD 130.51 billion in 2023 and expected to reach USD 149.18 billion in 2024, at a CAGR 14.71% to reach USD 341.29 billion by 2030.

Cold storage refers to preserving perishable goods or commodities in an artificial cooling environment to maintain their quality, extend their shelf life, and minimize the risk of spoilage. This storage method is essential across various sectors, including food and beverages, pharmaceuticals, and agricultural products, where specific temperature control is critical for preserving the integrity and safety of the products. Cold storage facilities are equipped with refrigeration units that maintain a constant low temperature, which can vary depending on the particular requirements of the stored goods. Cold storage is critical in the global supply chain by effectively managing the temperature and humidity levels, ensuring that products reach consumers in optimal condition. The increasing demand for perishable goods, expansion of retail chains, and the need for pharmaceutical storage solutions drive the market growth. However, high initial setup and operational costs are associated with maintaining temperature-controlled environments, with the environmental impact of refrigerants posing sustainability and regulatory challenges, hindering market growth. Nevertheless, adopting green and sustainable practices in cold storage facilities coupled with technological advancements such as automation, energy-efficient systems, and IoT-enabled monitoring systems is anticipated to create lucrative opportunities for cold storage market growth.

Regional Insights

The Americas showcase robust growth in the cold storage sector, driven by a high demand for frozen and perishable foods. In American countries, e-commerce and the demand for convenience foods are pivotal growth drivers, with significant investments in technology-enhanced warehouses indicating a trend toward automation and efficiency. Furthermore, certain American countries emphasize seafood and meat exports, underscoring the importance of innovative cold chain solutions to maintain product integrity during transportation. EU countries are witnessing a dynamic shift towards sustainability and energy-efficient cold storage facilities. The stringent regulations surrounding food safety and waste reduction amplify the need for state-of-the-art cold storage solutions. Investment in renewable energy sources and advanced insulating materials is prominent, aiming to reduce the carbon footprint of cold storage operations. On the other hand, the Middle East and Africa are experiencing growing demand for cold storage facilities due to rising consumer awareness about food quality and waste. Strategic investments and government initiatives aim to enhance infrastructure and adopt renewable energy sources in cold storage operations. Asia-Pacific region is experiencing growth in the cold storage market, fueled by a burgeoning middle class and increasing disposable incomes. The shift towards protein-rich diets and the rising demand for frozen foods are significant growth drivers. Countries with massive e-commerce sectors are at the forefront of incorporating AI and IoT technologies for smarter cold chain logistics. Furthermore, expanding retail chains and the increasing demand for processed foods demand scalable cold storage solutions in the Asia-Pacific region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cold Storage Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising consumer demand for perishable goods
Expansion in import and export activities of food items and pharmaceutical
Increasing need for temperature control to prevent food loss and potential health hazards

Market Restraints

High initial setup and operational costs associated with cold storage

Market Opportunities

Technological innovation in refrigerated systems and equipment
Expanding adoption of green and sustainable practices in cold storage

Market Challenges

Environmental concerns regarding greenhouse gas emissions

Market Segmentation Analysis

Storage Facility Type: Burgeoning adoption of warehouses critical for managing the supply chains of food and pharmaceutical items
Application: Evolving usage of cold storage to store fish, meat, and seafood

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cold Storage Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cold Storage Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ALLHC to launch 3 new cold storage facilities

AyalaLand Logistics Holdings Corp. has expanded its cold storage capabilities across the Philippines by announcing three new facilities slated for construction within the year, strategically located in Luzon, Visayas, and Mindanao. This strategic expansion is in addition to the nearing completion of ALogis Artico Santo Tomas in Batangas and ALogis Artico Mabalacat in Pampanga, which is expected to be operational in the first and second quarters, respectively, enhancing ALLHC's cold storage portfolio by 10,000 pallet positions.

Maersk to build new cold storage facility in Gujarat

Maersk started the development of an expansive new cold storage facility in Mehsana, Gujarat, tailored specifically for HyFun Foods. Spanning 260,000 square feet, this state-of-the-art facility is poised to offer advanced temperature-controlled storage solutions, catering to the diverse demands for preserving perishable, frozen processed food items. The facility, distinguished by its premier temperature compliance standards, customized racking systems, and cutting-edge technology, aims to guarantee unparalleled operational precision. Positioned near the customer's manufacturing unit, within the Fanidhar Mega Food Park, the facility is set to be among India's largest single-shed cold stores, with a capacity of 14,700 pallet positions.

Prozo launches cold storage facility to serve south Indian markets

Prozo inaugurated its second high-caliber cold storage facility in Krishnapatnam, Tamil Nadu. This state-of-the-art facility, covering 30,000 square feet with a notable height of 39.8 feet, is situated tactically close to the vital seafood producing regions on the East Coast of Tamil Nadu and Andhra Pradesh, enhancing its accessibility from key locations like NH16 (25 km), Nellore (30 km), Sri City (115 km), Chennai (170 km), and Vizag (700 km). Designed specifically for seafood storage with temperature maintenance at -20 degrees Celsius, the facility features 10 storage chambers capable of handling 280 pallets each across heavy-duty G+4 racking systems.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cold Storage Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cold Storage Market, highlighting leading vendors and their innovative profiles. These include Americold Logistics LLC, Burris Logistics, Cantek Group, Cold Store Group, Congebec Logistics Inc., Falcon Refrigeration Industry, Gulf Drug LLC, Holt Logistics Corp., John Swire & Sons Limited, Kloosterboer, Lineage Logistics Holding, LLC by Bay Grove Capital, LLC, NewCold Coöperatief UA, Nichirei Corporation, Nordic Cold Storage, Oxford Logistics Group, RSA Logistics, Snowman Logistics Limited, Stellar, The United States Cold Storage, Inc. by John Swire & Sons Ltd., Thermo Fisher Scientific Inc., Tippmann Group, VersaCold Logistics Services, Wabash National Corporation, and Wared Logistics.

Market Segmentation & Coverage

This research report categorizes the Cold Storage Market to forecast the revenues and analyze trends in each of the following sub-markets:

Temperature Range
Frozen storage
Refrigerated storage
Ultra-low Temperature Storage
Storage Facility Type
Blast Freezers
Cold Rooms
Refrigerated Containers
Warehouses
Technology
Cryogenic Systems
Evaporative Cooling
Mechanical Refrigeration
Thermal Energy Storage
Application
Dairy
Fish, Meat & Seafood
Fruits & Vegetables
Pharmaceuticals
Processed Food
Ownership Model
Owned Facilities
Private Refrigerated Warehouses
Public Refrigerated Warehouses
Third-Party Logistics Providers
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year