Europe 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

Europe 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 Europe cold storage market was valued at US$ 27,314.27 million in 2022 and is expected to reach US$ 91,055.74 million by 2030; it is estimated to register a CAGR of 16.2% from 2022 to 2030.

Increasing Demand for Convenience Food Among Consumers Drives Europe Cold Storage Market

Growing population, rising urbanization, increasing disposable income, and rising busy lifestyle are driving the demand for processed, canned, and easy-to-make food items globally. The canned or convenience food items require proper storage facilities to be in consumable condition. The importance of cold storage facilities is undeniable, as processed foods have a high chance of getting rotten within a few days or weeks if not preserved well. The maintained optimal temperature and proper storage conditions are essential for extending the shelf life of processed or canned food. Over the years, consumers' lifestyles have evolved drastically; and the growing number of working population are some of the major driving factors for the cold storage market. In addition, increased marketing exposure of processed food is also attracting major younger generation toward consuming processed food. The rise in demand for canned and processed food is boosting the requirement for cold storage facilities globally. For instance, the food processing sector in Germany produced around US$ 203 billion in revenue in 2021, or 5.8% of the country's GDP. Meat (24%), dairy (15.5%), bakery (9.4%), confectionary and long-life bakery products (7.8%), and processed fruits and vegetables (6.3%) were the top subsectors by value. Thus, the increasing consumer inclination toward processed food is acting as a major driver for the cold storage market.

Europe 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.

Germany, the UK, and France are among the major countries contributing to the development of the cold storage market in Europe. In addition, Italy, Russia, the Netherlands, Belgium, Poland, and Spain are also noteworthy countries in the cold storage market. The COVID-19 and geopolitical disturbances during the Russia-Ukraine war have also shown the importance of cold storage facilities, as they cater to the consumers' needs in times of crisis.

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

Europe Cold Storage Market Segmentation

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

Based on application, the Europe 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 Europe cold storage market share in 2022.

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

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

By country, the Europe cold storage market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe cold storage market share in 2022.

Nichirei Corp, Americold Realty Trust Inc, Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Constellation Cold Logistics SARL, and Chiltern Cold Storage Group Ltd. are some of the leading companies operating in the Europe cold storage market.

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