Global Refrigerated Warehousing Market Size, Share & Industry Trends Analysis Report By Application, By Temperature Range (Frozen (-18°C to -25°C), Chilled (0°C to 15°C), and Deep-frozen (Below -25°C)), By Type, By Regional Outlook and Forecast, 2023 -

Global Refrigerated Warehousing Market Size, Share & Industry Trends Analysis Report By Application, By Temperature Range (Frozen (-18°C to -25°C), Chilled (0°C to 15°C), and Deep-frozen (Below -25°C)), By Type, By Regional Outlook and Forecast, 2023 - 2030

The Global Refrigerated Warehousing Market size is expected to reach $281.8 billion by 2030, rising at a market growth of 16.5% CAGR during the forecast period.

Refrigerated warehousing is essential for preserving the freshness and quality of fish, meat, and seafood products. These products are highly perishable and can spoil quickly at higher temperatures. Hence, the Fish, Meat, & Seafood segment would capture approximately 1/4th share of the Food & Beverages type market by 2030. Cold storage facilities maintain the desired temperature and humidity levels to slow down bacterial growth, enzymatic activity, and oxidation, thereby extending the shelf life of the products. The fish, meat, and seafood industry often involve international trade. Refrigerated warehousing near ports is crucial for the efficient import and export of products. These facilities help maintain the cold chain during transit, ensuring that products reach their destination in optimal condition. Some of the factors impacting the market are increasing adoption in numerous food and beverage industries, rising automation in the refrigerated warehouse, and high operating expenses and capital expenditures.

Consumers have an increasing preference for fresh and minimally processed food products. In order to meet this demand, food and beverage companies are investing in refrigerated warehousing to keep the freshness and quality of their products from production to consumption. The need for refrigerated storage facilities has grown as the global food supply chain becomes more interconnected. These facilities enable companies to import and export perishable goods while preserving quality. These facilities are essential for storing and distributing fresh and frozen products to meet the needs of online retailers and food delivery services. These facilities play a vital role in maintaining the safety and quality of temperature-sensitive products in a dynamic and competitive industry. Additionally, the increasing automation in refrigerated warehouses has the potential to grow the market significantly. Automation brings numerous highly attractive advantages to businesses operating in this sector. Automation in refrigerated warehousing streamlines operations and reduces the reliance on manual labour. Automated systems, including advanced warehouse management software, enable precise inventory tracking. This leads to reduced stockouts, minimized product losses due to expiration, and better control over inventory levels. These benefits make it likely that the trend toward increasing automation will continue to drive growth of the market.

However, refrigerated warehousing facilities require substantial amounts of energy to maintain temperature-controlled environments. Electricity and refrigerants can be a significant portion of operating expenses, especially for large facilities. Implementing energy-efficient technologies and practices is essential to reduce operating costs. However, upgrading or retrofitting existing facilities with energy-efficient systems can involve substantial upfront capital expenditures. Maintenance costs can be high, and unexpected breakdowns can result in additional expenses. Overall, the high operating expenses and capital expenditures are challenges in the market, which will decline the market growth in the future.

Application Outlook

By application, the market is categorized into food & beverages, pharmaceuticals, and others. In 2022, the food & beverages segment registered the highest revenue share in the market. Food & beverage goods need controlled temperature environments to remain fresh and avoid contamination. Moreover, the growth in online food delivery, boosted by the COVID-19 pandemic, is driving the need for more refrigerated space for food & beverage products. According to the Food and Agricultural Organization (FAO), 30 to 40 percent of food produced is lost before it reaches the market due to a lack of proper processing, storage, and transport. Hence, growth in online food delivery and the need to reduce food wastage drive the segment's growth.

Food & Beverages Type Outlook

Under food & beverages type, the market is further divided into fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat & seafood, processed food, bakery & confectionery, and others. The dairy products segment covered a considerable revenue share in the market in 2022. Dairy products include many items, such as milk, cheese, butter, yogurt, and various dairy-based desserts. Refrigerated warehousing facilities are crucial for managing the cold chain of dairy products. They help maintain consistent temperatures from when the products leave the dairy processing plant to arrival at retail outlets or distribution centers. Dairy products undergo rigorous quality control measures both at the processing plant and during storage in refrigerated warehouses.

Temperature Range Outlook

Based on temperature range, the market is fragmented into chilled (0°C to 15°C), frozen (-18°C to -25°C), and deep-frozen (Below -25°C). The chilled (0°C to 15°C) segment garnered a significant revenue share in the market in 2022. Chilled temperature storage is a critical component of the market, serving a wide range of industries and ensuring the availability of fresh and high-quality products for consumers. As global supply chains evolve and consumer demand for freshness and convenience persists, the need for chilled storage solutions will remain strong.

Type Outlook

On the basis of type, the market is segmented into private & semi-private and public. In 2022, the public segment dominated the market with the maximum revenue share. Public refrigerated warehouses are owned and operated by the government or third-party logistics (3PL) companies. Public warehouses handle goods on behalf of their client companies. Public warehouses are more adaptable, cost-effective, and convenient. Public warehouses are witnessing significant growth as they are more cost-effective, and many provide value-added services such as assembling and quality control, which helps businesses focus on their core expertise.

Region Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating maximum revenue share in the market in 2022. The market's growth in the region can be attributed to some of the most prominent market players, such as U.S.-based Lineage Logistics Holding, LLC, and Canada-based Conestoga Cold Storage. Moreover, developed technological infrastructure and adoption automation among the region's companies drive the region's growth. For instance, U.S.-based Americold Logistics, Inc. uses robotics and automation at its warehouses. Moreover, government initiatives to develop temperature-controlled facilities significantly boost the market.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Lineage Logistics Holdings, LLC, Americold Realty Trust, Inc, Burris Logistics, Tippmann Group, Nichirei Corporation, Conestoga Cold Storage, NewCold Cooperatief UA, United States Cold Storage, Inc. (Swire Pacific Limited), FreezPak Logistics and Confederation Freezers.

Strategies Deployed in Refrigerated Warehousing Market

Jun-2023: Americold Realty Trust, Inc teamed up with Canadian Pacific Kansas City (CPKC), a transportation and logistics company that operates a vital rail network connecting Canada and the United States. Through this collaboration, both companies would enhance their food transportation service, further facilitating the transportation of various food and other commodities to and from Mexico.

Jun-2023: Burris Logistics completed the acquisition of Sunny Morning Foods, a company specializing in the production and distribution of high-quality breakfast and bakery products. Through this acquisition, Burris Logistics' subsidiary Honor Foods would be able to offer Sunny Morning's products to their customers.

Feb-2023: Lineage Logistics Holdings, LLC introduced Lineage Fresh, an innovative strategic service introduced in Europe. With this launch, the company would be able to offer cutting-edge storage solutions to prominent fresh fruit and produce importers, grocers, and producers.

Jun-2022: Burris Logistics completed the acquisition of California Foodservice, a company that specializes in providing food distribution and supply chain solutions to the food service industry. Through this acquisition, Burris Logistics would be able to broaden its range of products and extend its reach into new geographic areas.

Jun-2022: Burris Logistics completed the acquisition of R.W. Zant, a company known for providing comprehensive cold storage and logistics solutions. Through this acquisition, Burris Logistics' subsidiary, Honor Foods and R.W. Zant would Offer their customers novel product options that have the potential to simplify their procurement and logistics processes and enhance their overall operations.

Mar-2022: Lineage Logistics Holdings, LLC completed the acquisition of MTC Logistics (“MTC”), a company specializing in temperature-controlled storage and distribution services. Through this acquisition, Lineage Logistics Holdings, LLC would be able to increase its United States capacity by nearly 38 million cubic feet and gain more than 113,000 pallet positions. Further, these facilities would join a network of over 400 strategically positioned sites worldwide, resulting in a combined capacity of over 2 billion cubic feet across 19 countries.

Nov-2021: Lineage Logistics Holdings, LLC completed the acquisition of Kantaro SRL, a leading cold chain warehousing provider, offering state-of-the-art facilities and logistics solutions. Through this acquisition, Lineage Logistics Holdings, LLC signifies entry into the Italian cold storage market, enhancing the company's European presence, which already spans Spain, France, Belgium, the Netherlands, Germany, Denmark, Norway, Poland, and the UK.

Nov-2021: Lineage Logistics Holdings, LLC acquired Claus Sørensen Group's cold storage division, a company with a strong presence in the cold storage industry, offering a range of services and solutions across various sectors. Through this acquisition, Lineage Logistics Holdings, LLC would be able to enhance its global reach by providing crucial connectivity to Denmark, which is emerging as a prominent European hub within the global cold-storage supply chain.

Dec-2020: Lineage Logistics Holdings, LLC completed the acquisition of Pago Sp. z o.o., software development company specializing in creating innovative solutions. Through this acquisition, Lineage would be able to expand their business into the Polish market and add some exceptional assets to Lineage’s global network of temperature-controlled facilities.

Jul-2020: Lineage Logistics Holdings, LLC completed the acquisition of Ontario Refrigerated Services, Inc., a leading company specializing in refrigerated warehousing and logistics solutions for the storage and distribution of temperature-sensitive products. Through this acquisition, Lineage Logistics Holdings, LLC would be able to make its debut in the Canadian market.

Apr-2019: Americold Realty Trust, Inc completed the acquisition of Cloverleaf Cold Storage, a leading company specializing in temperature-controlled warehousing and logistics services. Through this acquisition, Americold Realty Trust would increase its market presence in the United States by incorporating 132 million cubic feet of storage capacity across 22 facilities in the Southeast and central regions of the nation.

Scope of the Study

Market Segments covered in the Report:

By Application

• Food & Beverages
• Fish, Meat, & Seafood
• Bakery & Confectionary
• Fruits & Vegetables
• Processed Food
• Dairy Products
• Fruit Pulp & Concentrates
• Others
• Pharmaceuticals
• Vaccines
• Blood Banking
• Others
• Others

By Temperature Range

• Frozen (-18°C to -25°C)
• Chilled (0°C to 15°C)
• Deep-frozen (Below -25°C)

By Type

• Public
• Private & Semi-Private

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Lineage Logistics Holdings, LLC
• Americold Realty Trust, Inc
• Burris Logistics
• Tippmann Group
• Nichirei Corporation
• Conestoga Cold Storage
• NewCold Cooperatief UA
• United States Cold Storage, Inc. (Swire Pacific Limited)
• FreezPak Logistics
• Confederation Freezers

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