TheCold Storage Marketis a rapidly growing industry, driven by the increasing demand for temperature-sensitive products such as food, pharmaceuticals, and chemicals. The global cold storage market size was valuedat USD 119.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.5% from 2023 to 2030.
Thereare a number of factors driving the growth of the cold storage market. One factor is the increasing demand for fresh and processed food. As consumers become more health-conscious, they are demanding more fresh fruits,canned vegetables, andmeat. This has led to an increase in the need for cold storage facilities to store these products at a safe temperature.
Another factor driving the growth of the cold storage market is the growing e-commerce industry. E-commerce retailers need cold storage facilities to store and ship perishable goods such as food and flowers. The increasing popularity of online shopping is expected to further drive the demand for cold storage facilities in the coming years.
The cold storage market is also being driven by the increasing regulatory requirements for the storage of temperature-sensitive products. Governments around the world are imposing stricter regulations on the storage of food, pharmaceuticals, and other temperature-sensitive products. This is leading to an increase in the demand for cold storage facilities that can meet these regulatory requirements.
The cold storage market is segmented by product type, temperature range, end-use industry, and region. By product type, the market is segmented into fruits and vegetables, meat and poultry, dairy products, seafood, and others. By temperature range, the market is segmented into chilled (0-10C), frozen (-10-20C), and ultra-frozen (-20C). By end-use industry, the market is segmented into food and beverage, pharmaceuticals, chemicals, and others.By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
North Americais the largest cold storage market in the world, followed by Europe and Asia Pacific. The growth of the cold storage market in North America is being driven by the increasing demand for fresh and processed food, the growing e-commerce industry, and the strict regulatory requirements for the storage of temperature-sensitive products. The European cold storage market is also growing rapidly, due to similar factors. The Asia Pacific cold storage market is expected to grow at the fastest pace in the coming years, due to the rising disposable income of consumers, the growing demand for processed food, and the increasing urbanization in the region.
Key Players:
- Lineage Logistics Holdings(US)
- Americold Logistics LILC (US)
- Nichirei Corporation (Japan)
- Kloosterboer(Netherlands)
- Tippmann Group (US)
- The United States Cold Storage. (US)
- Henningsen Cold Storage Co. (US)
- VersaCold Logistics Services (Canada)
- Congebac Inc. (Canada)
- NewCold (Netherlands)
- Snowman Logistics Pt Ltd (India)
- Wabash National Corporation (US)
- Cloverleaf Cold Storage (US)
The cold storage market is a competitive market, with a number of large and small players operating in the market. Some of the major players in the market include Americold Logistics, Nichirei Corporation, Lineage Logistics Holdings, Burris Logistics, Kloosterboer, and Tippmann Group.
The cold storage market is a dynamic market, and the landscape is constantly evolving. The key trends in the market include the increasing demand for automation, the growing popularity of third-party logistics providers, and the focus on sustainability.
The cold storage market is a promising market with a lot of growth potential. The market is expected to continue to grow in the coming years, driven by the increasing demand for temperature-sensitive products.
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