The cold storage market size is expected to reach $323.6

TOKYO, Aug. 30, 2022 (GLOBE NEWSWIRE) — Tokyo, August 312022 (GLOBE NEWSWIRE) – The globe cold storage market The size accounted for $115.6 billion in 2021 and is estimated to reach a market size of $323.6 billion by 2030, growing at a CAGR of 12.5% ​​from 2022 to 2030.

Key highlights of the Cold Storage market report

• The value of the global cold storage market in 2021 was US$115.6 billion, growing at a CAGR of 12.5% ​​from 2022 to 2030
• The North American cold storage market dominated in 2021 with a market share of more than 37%
• According to PIB India, in 2020 the country has 8186 cold stores with a capacity of 374.25 lakh MT for storing horticultural perishable products such as fruits and vegetables
• By application, the seafood segment achieved more than 35% of the total market share in 2020
• The Asia Pacific Cold Storage Market is expected to grow at a substantial CAGR during the forecast period, from 2022 to 2030

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Report Coverage:

According to forecasts, the global market share of cold storage will continue to grow in the coming years. Demand for processed or packaged foods, perishable foods and medical equipment is growing rapidly around the world. The growing demand for organized retail of perishable foods along with consumer awareness to eliminate food waste in emerging markets is becoming more structured and this trend is expected to drive demand for cold storage market growth over the forecast period. Government initiatives to deregulate foreign business entry have increased foreign direct investment (FDI) in retail businesses in certain regions, driving demand for cold storage for longer product life.

In addition, organized department stores use improved refrigeration and storage technology compared to conventional stores. As a result, consumers are increasingly buying frozen vegetables from these retailers. The increased demand for frozen and chilled food along with the fast growing organized retail sector is expected to drive the demand for cold storage market trends over the forecast period. In addition, with the advancement of recent innovations, the use of cold chain in the food and beverage industry helps prevent food quality deterioration. As a result, technological advances have contributed to the international expansion of the cold storage market. Depending on consumer spending and proximity to important places of residence and usage clusters, different sales formats are supported by organized retail.

Global dynamics of the cold storage market

Cold stores are used to store perishable products and goods such as vegetables, fruits, meat, fish and dairy products at a specific temperature in order to preserve the quality of their products over a longer period of time. Cold stores are essential parts of the distribution chain that transports groceries, medicines and other temperature-sensitive goods. Setting up a cold store requires a significant initial investment. Cold storage technology offers benefits such as sophisticated refrigeration technology and preservation and tracking systems for numerous items such as fruit and vegetables, significantly reducing the likelihood of temperature-sensitive production waste. In addition, the further development of the cold storage industry is shaped by a wide range of consumer demands that are not limited to value-added services. They also relate to the type of items to be stored. Different products have different shelf lives, temperature differences at which products must be stored and the length of time they can spend between such cold storage and a transport vehicle without rotting.

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Increasing consumer demand for perishable goods increases market share

In recent years, consumers have become more aware of well-being and health, as well as the impact that dietary nutrients, particularly protein, have had on overall mental and physical development and growth. Perishable foods are in high demand in emerging markets in Asia Pacific and Latin America. This is due to rapid urbanization, changing tastes and preferences, and increasing disposable income in these countries. As a result, perishable foods such as dairy products, fruit and vegetables, and protein-rich animal products such as meat, fish, eggs and seafood have changed in frequency. Additionally, these countries have significant market potential for packaged and frozen foods due to their lower adoption rate. These countries’ consumption of ready-to-serve and ready meals such as frozen meals, sweets and snacks is steadily increasing.

market segmentation

The global refrigerated storage market has been segmented by storage type, construction type, temperature type and application by Acumen Research and Consulting. By storage type, the market is segmented into private and public. By type, the market is segmented into bulk storage, port and production storage. By temperature type, the market is segmented into frozen and chilled. Based on application, the market is categorized into Fruit & Vegetables, Processed Foods, Dairy, Pharmaceuticals, and Fish, Meat & Seafood.

Regional Outlook for the Global Cold Storage Market

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the regional classification of the global Cold Storage Market. According to cold storage industry analysis, Asia Pacific is expected to be the fastest growing region in the market over the next few years. In the past decade, industrial growth and capital inflows in the Asia-Pacific regions, particularly China and India, have undergone significant changes, contributing to rapid economic development. In addition, the region’s growing urban population, rising disposable income, rising consumer awareness of frozen and prepared foods, rapid expansion of the e-commerce industry, and rising demand for packaged foods are driving demand for the Asia-Pacific cold storage market on. Additionally, advances in warehousing and refrigerated bulk storage, combined with federal subsidies to boost the cold storage sector, are enabling network operators to enter such emerging economies by employing creative technologies that can overcome distribution complexities.

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player in the cold storage market

The market is relatively fragmented, with many international companies. These market players seek to grow their customer base through strategies such as partnerships, investments, and mergers and acquisitions. Also, in order to increase their international footprint, various players implemented advanced technologies and connected systems to achieve better results. Various development strategies such as acquisitions, collaborations, mergers and regulatory frameworks are fueling future growth and offering lucrative expansion opportunities for cold storage market participants.

Some of the leading companies in the 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 .

Questions answered by this report

• – What was the size of the cold storage market in 2021?
• What will be the CAGR of the Cold Storage market during the forecast period, 2022 to 2030?
• Who are the major players in the global Cold Storage market?
• Which region held the largest share of the cold storage market in 2021?
• What are the key market drivers of Cold Storage market?
• Who is the Largest End-User Cold Storage Market?
• What will the market value of cold storage be in 2030?

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