Asia Pacific Cold Storage Market Forecast to 2030 - Regional Analysis - by Application (Dairy Products, Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, and Processed Food), Temperature Type (Chilled and Frozen), and Warehouse Type (Public and Pr

Asia Pacific Cold Storage Market Forecast to 2030 - Regional Analysis - by Application (Dairy Products, Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, and Processed Food), Temperature Type (Chilled and Frozen), and Warehouse Type (Public and Private & Semi-Private)

The Asia Pacific cold storage market was valued at US$ 26,018.41 million in 2022 and is expected to reach US$ 100,662.54 million by 2030; it is estimated to register a CAGR of 18.4% from 2022 to 2030.

Sustainable Refrigeration and Storage Technologies Boost Asia Pacific Cold Storage Market

The application of transcritical CO2 systems uses carbon dioxide (CO2) as a refrigerant, which has a very low ozone depletion potential (ODP). Unlike conventional refrigerants such as hydrofluorocarbons (HFCs) or hydrochlorofluorocarbons (HCFCs), which contribute to ozone layer depletion, CO2 does not damage the ozone layer. This characteristic makes cold storage transcritical CO2 refrigeration systems environmentally friendly and supports global efforts to phase out ozone-depleting substances. Transcritical CO2 systems have a substantially minimalized global warming potential (GWP) compared to many conventional cold storage facilities. GWP measures the ability of greenhouse gases to impact global warming over a definite period. CO2 has a GWP of 1, whereas HFCs commonly used in refrigeration systems have GWPs in the thousands or even tens of thousands. By using CO2 as a refrigerant, transcritical systems help moderate climate change and reduce the carbon footprint of cooling and refrigeration applications. Overall, the low environmental impact of cold storage transcritical CO2 systems are driving the market by supporting global environmental objectives. As the need for sustainable refrigeration and storage solutions continues to develop, cold storage transcritical CO2 technology offers a viable and smart option for businesses across various sectors. Furthermore, the application of cold thermal storage technology is also one of the environment-friendly alternatives for storage facilities that can provide opportunities for the cold storage market over the forecast period.

Asia Pacific Cold Storage Market Overview

The increasing population, rising consumer income, and growing preference for processed and canned food have positively favored the cold storage market. The popularity and importance of cold storage facilities have soared in recent years owing to increased expenditure on convenience and frozen food, probiotics, pharmaceuticals, or fresh produce. Several industries, such as food & beverages, pharmaceuticals, and chemicals, rely on cold storage facilities to preserve their products. In the food industry, the mounting demand for frozen and fresh foods has made cold storage facilities crucial for preserving product freshness and avoiding spoilage. The pharmaceutical industry immensely depends on cold storage to conserve the effectiveness of temperature-controlled vaccines and drugs.

Globalization and expansion in transport logistics have also boosted the supply chain of various products nationally or internationally. This trend has improved the demand for cold storage facilities to make certain that the products reach consumers in ideal condition, preserving a necessary temperature, regardless of distance and time of travel.

The growing popularity of online grocery sales and e-commerce platforms, which were further augmented by the pandemic and social distancing, majorly contribute to the market growth. Furthermore, the growing government initiatives to implement schemes and policies that support vigorous import and export of products are boosting the growth of the cold storage market in Asia Pacific.

Asia Pacific Cold Storage Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Cold Storage Market Segmentation

The Asia Pacific cold storage market is categorized into application, temperature type, warehouse type, and country.

Based on application, the Asia Pacific cold storage market is segmented into dairy products, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. The meat and seafood segment held the largest Asia Pacific cold storage market share in 2022.

In terms of temperature type, the Asia Pacific cold storage market is bifurcated into chilled and frozen. The frozen segment held a larger Asia Pacific cold storage market share in 2022.

By warehouse type, the Asia Pacific cold storage market is segmented into public and private & semi-private. The public segment held a larger Asia Pacific cold storage market share in 2022.

By country, the Asia Pacific cold storage market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific cold storage market share in 2022.

Nichirei Corp, Americold Realty Trust Inc, Lineage Logistics Holdings LLC, and NewCold Cooperatief UA are some of the leading companies operating in the Asia Pacific cold storage market.

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