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Cold Storage Global Market Report 2022

·4-min read

Major players in the cold storage market are Americold Logistics LLC, Cloverleaf Cold Storage, Burris Logistics, Tippmann Group, VersaCold Logistics Services, Henningsen Cold Storage, Kloosterboer, Lineage Logistics Holdings, United States Cold Storage, NewCold, Nichirei Corporation, Agro Merchants Group, Nordic Logistics, Conestoga Cold Storage, Hanson Logistics, DHL International GmbH, XPO Logistics Inc.

New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Cold Storage Global Market Report 2022" -
, GEODIS, NFI Industries, Penske Logistics Inc., Confederation Freezers, Seafrigo, Trenton Cold Storage, Merchants Terminal Corporation, and Stockhabo.

The global cold storage market is expected to grow from $123.43 billion in 2021 to $141.39 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The cold storage market is expected to reach $260.01 billion in 2026 at a CAGR of 16.5%.

The cold storage market consists of the sale of cold storage products by entities (organizations, sole traders, and partnerships) that are used for preserving food items in refrigerated and controlled rooms.It refers to a place or a building where perishable products are stored or kept at low temperatures.

Almost all cold storage rooms are designed with properties that can keep food items in optimum conditions, and these properties can be adjusted according to what has been stored.

The main types of cold storage are private, semi-private, and public.Private and semi-private products refer to cold storage that is owned or operated by the company that produces or owns the products kept in the warehouse used for storing purposes.

The various construction types include bulk storage, production stores, and ports, and involve several temperature forms, such as frozen and chilled. It is used in storing fruits and vegetables, dairy, fish, meat, and seafood, processed foods, pharmaceuticals, and other applications.

North America was the largest region in the cold storage market in 2021.Asia Pacific is expected to be the fastest growing region in the forecast period.

The regions covered in the cold storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The cold storage market research report is one of a series of new reports that provides cold storage market statistics, including cold storage industry global market size, regional shares, competitors with a cold storage market share, detailed cold storage market segments, market trends and opportunities, and any further data you may need to thrive in the cold storage industry. This cold storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rising perishable products are expected to propel the growth of the cold storage market going forward.Perishable products are those that easily deteriorate and have a short life span, which includes products such as fruits and vegetables, dairy products, pharmaceuticals, and others.

The growing trade of perishables compels the cold storage market to provide better quality products to serve their customers. For instance, according to a report published by the Food and Agricultural Organization of the United Nations in 2021, global milk production reached 906 million tonnes in 2020, which has risen approximately 0.2% from 2019. Another article by the Food and Agricultural Organization of the United Nations and the Organization for Economic Co-operation and Development, an intergovernmental organization of 38 member countries, said that total meat production in 2020 is approximately 134 megatons, which is 1.2% more than in 2019. Therefore, the rise in the trade of perishables will increase the demand for cold storage.

Advancements in technologies are a key trend gaining popularity in the cold storage market.Major companies operating in the cold storage market are using new technologies such as automation in warehouses, taller warehouses with temperature control, and others to sustain their position in the market.

For instance, in May 2021, Vertical Cold Storage, a US-based temperature-controlled and dry storage facility provider, unveiled its new cold storage facility, Vertical Cold facilities. The Vertical Cold Facilities contain the most reliable automation in the industry along with cost-effective refrigeration facilities that use green practices and improve performance through decision-making technology.

In November 2019, Americold Logistics LLC, a US-based temperature-controlled warehousing and transportation company, acquired Nova Cold Logistics for a deal amount of approximately CAD 337 million ($253 million).This acquisition provides Americold with new warehousing facilities that include voice inventory management technology and temperature-controlled docking systems.

Americold believes that Nova Cold would enhance its position as a global owner of temperature-controlled infrastructure and get access to new regional and local customers. Nova Cold is a Canada-based provider of cold storage facilities.

The countries covered in the cold storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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