Global Cold Storage Market Opportunities and Strategies Report 2023

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Jan 27, 2023, 18:30 ET

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Cold Storage Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.

The cold storage market reached a value of nearly $30,833.6 million in 2021, having grown at a compound annual growth rate (CAGR) of 4.4% since 2016. The market is expected to grow from $30,833.6 million in 2021 to $46,059.1 million in 2026 at a rate of 8.4%. The market is then expected to grow at a CAGR of 7.6% from 2026 and reach $66,317.5 million in 2031.

This report describes and explains the cold storage market and covers 2016 to 2021, termed the historic period, and 2021 to 2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.

Growth in the historic period resulted from growing demand for dairy products to drive the demand for cold storage, increase in demand from processed food and healthcare industry, increase in technology development, focus on quality and product sensitivity and increase in food export. Factors that negatively affected growth in the historic period were high initial cost and cost of energy consumption, inefficient handling of perishables and rising real estate costs.

Going forward, increasing and aging population, increasing use of automation, robust government support, increasing investments, rapid growth in ecommerce and increasing consumption of packaged food will drive the growth. Factors that could hinder the growth of the cold storage market in the future include damaged goods, inadequate farm-gate and mobile infrastructure, effect of COVID-19 on companies and global recession and Russian-Ukrainian war.

The cold storage market is segmented by type into private and semi-private and public. The public market was the largest segment of the cold storage market segmented by type, accounting for 71.2% of the total in 2021. Going forward, the private and semi-private segment is expected to be the fastest growing segment in the cold storage market segmented by type, at a CAGR of 8.7% during 2021-2026.

The cold storage market is also segmented by construction into bulk storage, production stores and ports. The bulk storage market was the largest segment of the cold storage market segmented by construction, accounting for 45.8% of the total in 2021. Going forward, bulk storage segment is expected to be the fastest growing segment in the cold storage market segmented by construction, at a CAGR of 8.4% during 2021-2026.

The cold storage market is segmented by temperature into frozen and chilled. The frozen market was the largest segment of the cold storage market segmented by temperature, accounting for 72.1% of the total in 2021. Going forward, the frozen segment is expected to be the fastest growing segment in the cold storage market segmented by temperature, at a CAGR of 8.5% during 2021-2026.

The cold storage market is segmented by application into fruits and vegetables, dairy, fish, meat and seafood, processed food, pharmaceuticals and other applications. The fruits and vegetables market was the largest segment of the cold storage market segmented by application, accounting for 43.6% of the total in 2021. Going forward, the fish, meat and seafood segment is expected to be the fastest growing segment in the cold storage market segmented by application, at a CAGR of 9.0% during 2021-2026.

Asia Pacific was the largest region in the cold storage market, accounting for 37.6% of the total in 2021. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the cold storage market will be Africa and Middle East where growth will be at CAGRs of 12.5% and 11.6% respectively. These will be followed by South America and Asia Pacific where the markets are expected to grow at CAGRs of 10.5% and 9.0% respectively.

The cold storage market is moderately fragmented with the presence of several local companies. The top ten competitors in the market made up to 12.94% of the total market in 2021. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers and companies are also spending on the development of improved products.

Moreover, they are also focusing on maintaining competitive pricing. Americold Logistics LLC was the largest competitor with 3.72% of the market, followed by Burris Logistics with 3.07%, Nichirei Corporation with 2.13%, United States Cold Storage with 1.95%, Toyo Suisan Kaisha, Ltd. with 0.65%, VersaCold Logistics Services with 0.53%, Lineage Logistics Holdings with 0.45%, Tippmann Group with 0.31%, Snowman Logistics Pvt Ltd with 0.08%, and Conestoga Cold Storage with 0.05%.

The top opportunities in the cold storage market segmented by type will arise in the public segment, which will gain $10,629.1 million of global annual sales by 2026. The top opportunities in the cold storage market segmented by construction will arise in the bulk storage segment, which will gain $7,009.5 million of global annual sales by 2026.

The top opportunities in the cold storage market segmented by temperature will arise in the frozen segment, which will gain $11,156.3 million of global annual sales by 2026. The top opportunities in the cold storage market segmented by application will arise in the fruits and vegetables segment, which will gain $6,769.6 million of global annual sales by 2026. The cold storage market size will gain the most in USA at $4,053.2 million.

Market-trend-based strategies for the cold storage market include focus on quality and product sensitivity, companies taking sustainability initiatives, smart warehousing, use of IoT to facilitate cold storage, and strategic mergers and acquisitions.

Player-adopted strategies in the cold storage market include focus on strengthening its business operations through strategic acquisition, partnerships, collaborations, mergers and other strategies.

To take advantage of the opportunities, the publisher recommends the cold storage companies to focus on smart warehousing, focus on use of internet of things (IOT), focus on sustainability initiatives, expand in emerging markets, continue to focus on developed markets, increase focus on mergers and acquisitions, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, continue to target fast-growing applications.

A selection of companies mentioned in this report includes

Americold Logistics LLC
Burris Logistics
Nichirei Corporation
United States Cold Storage
Toyo Suisan Kaisha, Ltd.

Key Topics Covered:

1. Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Cold Storage Market Definition and Segmentations
6.4. Market Segmentation By Type
6.4.1. Private and Semi-private
6.4.2. Public
6.5. Market Segmentation By Construction
6.5.1. Bulk Storage
6.5.2. Production Stores
6.5.3. Ports
6.6. Market Segmentation By Temperature
6.6.1. Frozen
6.6.2. Chilled
6.7. Market Segmentation By Application
6.7.1. Fruits and Vegetables
6.7.2. Dairy
6.7.3. Fish, Meat and Seafood
6.7.4. Processed Food
6.7.5. Pharmaceuticals
6.7.6. Other Applications

7. Major Trends And Strategies
7.1. Companies Taking Sustainability Initiatives
7.2. Smart Warehousing
7.3. Manufacturers Are Using IoT to Facilitate Cold Storage
7.4. Strategic Mergers And Acquisitions

8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.2.2. Market Restraints 2016 - 2021
8.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.3.1. Market Drivers 2021 - 2026
8.3.2. Market Restraints 2021 - 2026

9. Global Market Segmentation
9.1. Global Cold Storage Market, Segmentation By Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Cold Storage Market, Segmentation By Construction, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Cold Storage Market, Segmentation By Temperature, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Cold Storage Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

10. Global Market, Regional And Country Analysis
10.1. Global Cold Storage Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Cold Storage Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/r56cqu-storage?w=5

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