Cold Storage Market Size Worth $291.30 Billion By 2028 | CAGR: 13.5%: Grand View Research, Inc.

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Jun 02, 2021, 05:05 ET

SAN FRANCISCO, June 2, 2021 /PRNewswire/ -- The global cold storage market size is expected to reach USD 291.30 billion by 2028, according to a new study conducted by Grand View Research, Inc. It is projected to expand at a CAGR of 13.5% from 2021 to 2028. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.

Key suggestions from the report:

Low carbon design, environmental auditing, and construction of energy-efficient cold storage warehouses are the factors anticipated to fuel the demand for cold storage
Growing supermarket shopping culture and rising consumer preference towards private labels are the key factors for the expansion of food retail chains across the globe
The frozen segment is anticipated to expand at a CAGR of 12.5%. The growth is attributed to the significant changes in living standards and food consumption behavior of consumers
The processed food application is anticipated to witness a high CAGR of 16.7% over the projected period
Having realized that the market for cold storage in Japan is increasingly being saturated, the cold storage operators in the country would be looking for opportunities to increase the international trade
The key market players include Barloworld Limited (South Africa), VersaCold Logistics Services (Canada), Cloverleaf Cold Storage (U.S.), and Henningsen Cold Storage (U.S.)

Read 100 page research report with ToC on "Cold Storage Market Size, Share & Trends Analysis Report By Construction Type (Bulk Storage, Production Stores), By Temperature Type (Chilled, Frozen), By Application, By Warehouse Type, And Segment Forecasts, 2021 - 2028'' at: https://www.grandviewresearch.com/industry-analysis/cold-storage-market

Organized retail stores use better refrigeration and improved storage technology than traditional stores. Thus, consumers are increasingly purchasing frozen foods from these retail stores. With the increased demand for chilled and frozen foods and the rapidly expanding of the organized retail sector, the demand for cold storage solutions is expected to grow over the projected period. The organized retail supports different outlet formats depending on spending power and proximity from major residential and consumption clusters.

The offline mode of organized retailing is categorized into convenience stores, supermarkets, and hypermarkets based on the product range and surface coverage. On the other hand, the lack of power hook-ups for reefer trailers at transportation hubs and ports coupled with the lack of reliable power supply for cold warehouses further increases the operating costs.

However, this also offers opportunities for companies to develop unique solutions or leverage alternative energy sources that can overcome these issues in emerging markets. Furthermore, new transportation means, such as versatile refrigerated containers, are being developed to overcome the lack of adequate transportation facilities. These solutions can provide access to international markets and offer opportunities for farmers and small-scale businesses in these regions.

Grand View Research has segmented the global cold storage market based on warehouse type, construction type, temperature type, application, and region:

Cold Storage Warehouse Type Outlook (Revenue, USD Billion, 2017 - 2028)

Private & Semi-private
Public

Cold Storage Construction Type Outlook (Revenue, USD Billion, 2017 - 2028)

Bulk Storage
Production Stores
Ports

Cold Storage Temperature Type Outlook (Revenue, USD Billion, 2017 - 2028)

Chilled
Frozen

Cold Storage Application Outlook (Revenue, USD Billion, 2017 - 2028)

Fruits & Vegetables
Dairy
Fish, Meat & Seafood
Processed Food
Pharmaceuticals

Cold storage Regional Outlook (Revenue, USD Billion, 2017 - 2028)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Netherlands

Asia Pacific

China
India
Japan
Singapore

South America

Brazil

Middle East & Africa (MEA)

List of Key Players of Cold Storage Market

Americold Logistics, LLC
Burris Logistics
Barloworld Limited
Cloverleaf Cold Storage
Henningsen Cold Storage
Swire Group
Wabash National Corporation

Find more research reports on Automotive & Transportation Industry, by Grand View Research:

U.S. Cold Storage Market – The U.S. cold storage market size was valued at USD 15.26 billion in 2018 and is expected to expand at a CAGR of 3.7% from 2019 to 2025.
North America Cold Storage Market – The North America cold storage market size was valued at USD 29.08 billion in 2016. It is expected to expand at a CAGR of 9.9% from 2017 to 2025.
Thermal Energy Storage Market – The global thermal energy storage market size was valued at USD 4.38 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 12.6% from 2020 to 2027.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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