Cold Storage Market Size, Share & Trends Analysis Report By Storage Type (Facilities/Services, Equipment), By Temperature Range (Chilled, Frozen), By Application (Food & Beverages, Pharmaceuticals), By Region, And Segment Forecasts, 2025 - 2030

Cold Storage Market Size & Trends

The global cold storage market size was estimated at USD 159.7 billion in 2024 and is projected to grow at a CAGR of 18.1% from 2025 to 2030. The market has benefitted significantly from the strict regulations governing the supply and production of temperature-sensitive products. The industry is expected to grow significantly over the forecast period owing to growing organized retail sectors in developing economies.

Moreover, rising automation in refrigerated warehouses is projected to boost demand further. Warehouse automation includes cloud technology, conveyor belts, robots, energy management, and truck-loading automation. Refrigerated storage has become integral to supply chains when storing and transporting temperature-sensitive products. In addition, the growing perishable product trade is also expected to boost the demand for refrigerated storage solutions over the next few years.

Companies in the cold storage industry are adopting low-carbon designs and investing in environmental auditing and innovative construction methods. A low-carbon design that minimizes energy consumption can lead to more sustainable and environmentally friendly warehouses. The use of energy-efficient technologies, such as intelligent automation and control systems, can reduce energy costs and lower the carbon footprint of these facilities.

The need for a high initial investment to establish a cold storage facility is one of the key factors hampering the growth of the market. Cold storage facilities require significant investment to construct the unit, install the necessary equipment, and maintain and repair the infrastructure. This cost can be especially high for companies just starting in the market, as they need to invest in high-quality infrastructure, refrigeration systems, and insulation to ensure proper temperature control and energy efficiency.

COVID-19 Impact Analysis

The insufficient strategies to tackle the coronavirus spread across the globe increased the pandemic's impact on several industries, and cold storage is no exception. With the lockdowns in place, the online buying channels saw a sudden boost in demand. The combined effect of lockdowns and the fear of getting infected urged people to change their purchasing patterns and shift to online purchasing channels for purchasing products, including medicines, groceries, and other food items.

The U.S. Department of Homeland Security, in March 2020, classified cold storage facilities under the essential infrastructure category, enabling continuous operations through the ongoing COVID-19 spread. As such, the demand for e-commerce services rose, especially from the retail sector. Although the economy is returning to normalcy, people are still inclined towards online purchasing. Increased online purchasing for food items will require more cold storage space, boosting the market growth.

The e-commerce companies are also increasing their efforts to develop strategies for capturing the market demand by leveraging upon the increased online purchasing habits of the people. These market players are focusing on reducing order fulfillment time, especially for groceries. For instance, in April 2023, Amazon.com, Inc., a U.S.-based e-commerce company, announced that it reorganized its U.S. fulfillment network from a national to a regional model to reduce delivery times. Evolving consumer behavior and increased preference for online channels are anticipated to boost market growth over the forecast period.

Furthermore, the pharmaceutical industry is also highly impacted by the spread of the novel coronavirus. Though medical supplies fall under the essential category and were largely immune from the impact of the lockdown, the government guidelines to ensure sufficient supplies across the nation have also escalated the requirement for robust temperature-controlled facilities to ensure timely and effective supply. The increasing trend toward consuming processed food products is also a key factor driving the market for cold storage globally.

Storage Type Insights

Based on storage type, the market is segmented into facilities/services and equipment. The facilities/services segment dominated the overall market, gaining a market share of 89.5% in 2024. It is expected to grow at a CAGR of 17.9% throughout the forecast period.Based on facilities/services, the market has been segmented into refrigerated warehouses and cold rooms. According to the United States Department of Agriculture, in October 2021, the public warehouse capacity accounted for around 71% of the gross refrigerated storage capacity in the U.S. A public warehouse is operated as an independent business that offers various services, such as transportation, storage, and handling for a variable or fixed fee. The growing availability and automation of refrigerated warehouse facilities by numerous market players drive the segment's growth.

The equipment segment is anticipated to grow at the fastest CAGR of 19.9% over the forecast period. Factors such as changing food preferences, changing lifestyles, and growing online food delivery services are driving the demand for frozen food globally. Cold storage equipment stores various perishable food items within the specified temperature ranges to avoid spoilage and increase shelf life. The use of such equipment aids in reducing food wastage as the equipment can store food for a longer duration, driving segment growth.

Application Insights

Based on application, the market is segmented into pharmaceuticals, food & beverages, and others. The food & beverages segment dominated the overall market, gaining a market share of more than 77% in 2024. It is expected to grow at a CAGR of 18.0% throughout the forecast period. Refrigerated storage solutions remain vital for safeguarding food items, such as milk and dairy products, against spoilage. Hence, principles governing the deterioration of food substances due to bacterial growth need to be adhered to while storing dairy products in refrigerated warehouses. The need to maintain food quality and prevent deterioration is driving the growth of the food & beverages segment.

The pharmaceuticals segment is expected to grow at the fastest CAGR of 20.1% over the forecast period. Strict government regulations regarding the manufacturing and distribution of pharmaceutical products are driving the adoption of cold storage solutions. Pharmaceutical products must be preserved in a specific temperature range to maintain efficacy and adhere to temperature regulations. As a result, the demand for cold chain storage & equipment is rising in the pharmaceutical industry. The optimum temperature range to store and transport vaccines is 2°C to 8°C. Some equipment to facilitate this includes cold boxes, ice packs, and refrigerators.

Temperature Range Insights

Based on temperature range, the market has been categorized into chilled (0°C to 15°C), frozen (-18°C to -25°C), and deep-frozen (below -25°C) segments. The frozen (-18°C to -25°C) segment dominated the overall market, gaining a market share of more than 62% in 2024. It is expected to grow at a CAGR of 19.3% throughout the forecast period. Rising consumption of frozen foods in emerging markets, such as China and India, is driving the segment growth. Warehouses falling under this segment are used to store frozen fruits, vegetables, fish, meat, seafood, and other products. Changing consumer preferences and the growing consumption of ready-to-cook meals due to convenience is expected to boost the frozen (-18°C to -25°C) segment growth. The proliferation of organized retail chains, including supermarkets and hypermarkets, is also triggering the demand for such products in emerging economies.

The chilled (0°C to 15°C) segment is anticipated to grow at a considerable CAGR of 16.3% throughout the forecast period.Warehouses falling under the chilled segment are used to store fresh fruits & vegetables, eggs, dairy products, dry fruits, and dehydrated foods, among others. The chilled temperature range is that of a standard refrigerator and prevents the growth of harmful bacteria on perishable food products, preventing decomposition. The need to store and extend the shelf life of temperature-sensitive products is driving segment growth.

Regional Insights

The North America cold storage market led globally and accounted for a 34.1% share of the global revenue in 2024. The proliferation of connected devices and the presence of a large consumer base are the major factors propelling the region’s growth. The presence of prominent market players, including U.S.-based LINEAGE LOGISTICS HOLDING, LLC, Americold Logistics, Inc., United States Cold Storage, and Canada-based CONESTOGA COLD STORAGE, is aiding the market growth in the region. According to the United States Department of Agriculture, in October 2021, the gross refrigerated warehouse capacity was 3.73 billion cubic feet in the U.S.

U.S. Cold Storage Market Trends

The Cold Storage market in the U.S. is expected to grow at a significant CAGR from 2025 to 2030. The U.S. market is poised for substantial growth, driven by increasing demand for fresh and frozen food products. The country's robust economy, advanced infrastructure, and stringent food safety regulations are key factors contributing to market expansion. Moreover, the growing popularity of online grocery shopping and the need for efficient supply chain management are further propelling market growth.

Asia Pacific Cold Storage Market Trends

Asia Pacific cold storage market is expected to grow at the fastest CAGR of 20.6% over the forecast period. Advances in warehouse management and refrigerated transportation coupled with government subsidies to develop the cold chain industry allow service providers to tap these emerging markets by leveraging innovative solutions that can overcome complexities associated with transportation. Developing technological infrastructure and the presence of market players such as India-based Blue Star Limited and Japan-based NICHIREI CORPORATION are driving the segment growth. According to the Global Cold Chain Alliance (GCCA), in March 2023, NICHIREI CORPORATION ranked fifth in temperature-controlled space operated among GCCA members.

The cold storage market in China is expected to grow at a significant CAGR from 2025 to 2030. China's burgeoning middle class and rising disposable incomes are driving demand for high-quality, fresh food products. The country's expanding retail sector and e-commerce industry are further fueling the need for efficient cold storage solutions. In addition, government initiatives to modernize the food supply chain and reduce food waste are expected to stimulate market growth.

The cold storage market in Japan is expected to grow at a significant CAGR from 2025 to 2030. Japan's aging population and increasing health consciousness are driving demand for fresh and frozen food products. The country's well-developed food distribution network and stringent quality standards are contributing to market growth. Furthermore, the growing popularity of convenience stores and online grocery shopping is expected to boost demand for cold storage facilities.

The cold storage market in India is expected to grow at a significant CAGR from 2025 to 2030. India's rapidly growing population and rising disposable incomes are driving demand for processed and packaged food products. The country's burgeoning retail sector and e-commerce industry are further fueling the need for efficient cold storage solutions. In addition, government initiatives to modernize the food supply chain and reduce food loss and waste are expected to stimulate market growth.

Europe Cold Storage Market Trends

The cold storage market in Europe is expected to grow at a significant CAGR from 2025 to 2030. Europe's well-established food retail sector and increasing consumer preference for convenience foods are driving demand for cold storage solutions. The region's stringent food safety regulations and focus on sustainability are further contributing to market growth. In addition, the growing popularity of online grocery shopping is expected to boost demand for cold storage facilities.

The cold storage market in Germany is expected to grow at a significant CAGR from 2025 to 2030. Germany's strong economy and well-developed food retail sector are driving demand for cold storage solutions. The country's focus on food safety and quality, coupled with increasing consumer preference for convenience foods, is further contributing to market growth. In addition, the growing popularity of online grocery shopping is expected to boost demand for cold storage facilities.

Middle East And Africa (MEA) Cold Storage Market Trends

The cold storage market in the Middle East and Africa (MEA)is expected to grow at a significant CAGR from 2025 to 2030. The region's growing population, rising disposable incomes, and urbanization are driving demand for processed and packaged food products. The region's expanding retail sector and e-commerce industry are further fueling the need for efficient cold storage solutions. In addition, government initiatives to modernize the food supply chain and reduce food waste are expected to stimulate market growth.

The cold storage market in the UAE is expected to grow at a significant CAGR from 2025 to 2030. The country’s strong economy, growing population, and increasing tourism industry are driving demand for high-quality, fresh food products. The country's well-developed logistics infrastructure and focus on food safety and quality are contributing to market growth. In addition, the growing popularity of online grocery shopping is expected to boost demand for cold storage facilities.

Key Cold Storage Company Insights

The cold storage industry is fragmented and highly competitive, and companies are adopting mergers & acquisitions, expansion, and product development strategies to gain a competitive edge. For instance, in September 2022, LINEAGE LOGISTICS HOLDING, LLC announced the acquisition of Grupo Fuentes, a significant transport and cold-storage facility operator based in Spain. With this acquisition, LINEAGE LOGISTICS HOLDING, LLC aimed to expand its European presence.

Some of the key companies operating in the cold storage industry include Americold Logistics, Inc., LINEAGE LOGISTICS HOLDING, LLC, and Burris Logistics, among others.

• Americold Logistics is a leading global provider of temperature-controlled warehousing and logistics services. The company operates a vast network of warehouses across North America, Europe, Australia, and New Zealand. Americold's competitive advantage lies in its extensive network, advanced technology, and strong customer relationships. The company focuses on providing customized solutions for a diverse range of customers, including retailers, food producers, and distributors.

• Lineage Logistics is a major player in the temperature-controlled logistics industry. The company offers a comprehensive range of services, including warehousing, transportation, and value-added services. Lineage's competitive advantage stems from its focus on innovation, technology, and sustainability. The company invests heavily in automation and digital solutions to optimize operations and reduce costs. Additionally, Lineage's strong emphasis on sustainability positions it as a leader in the industry.

• Burris Logistics is a family-owned and operated company that provides temperature-controlled warehousing and transportation services. The company serves a wide range of customers, including food producers, distributors, and retailers. Burris Logistics' competitive advantage lies in its strong customer focus, commitment to quality, and personalized service. The company's experienced team and dedicated workforce enable it to deliver reliable and efficient solutions.

FreezPak Logistics and Confederation Freezers are some of the emerging companies in the target market.

• FreezPak Logistics is a leading provider of cold storage and logistics solutions. The company's competitive advantage lies in its extensive network of strategically located facilities, advanced technology, and commitment to customer service. With a focus on temperature-controlled supply chain management, FreezPak offers a comprehensive range of services, including warehousing, distribution, transportation, and value-added services. Their ability to handle diverse product categories and adhere to strict quality standards makes them a preferred choice for businesses across various industries.

• Confederation Freezers is a prominent player in the cold storage industry, known for its state-of-the-art facilities and reliable services. The company's focus on food safety and quality assurance ensures the integrity of products throughout the cold chain. Confederation Freezers leverages advanced technology to optimize inventory management, track product movement, and maintain precise temperature control. Their strong customer relationships and commitment to innovation position them as a key player in the market.

Recent Developments

• In September 2024, BGO and Yukon Real Estate Partners collaborated to build a new, sustainable cold storage warehouse in New Century, Kansas. This 291,000-square-foot facility, leased by CJ Logistics America, will primarily serve Flora Food Group and is designed to meet the growing demand for modern cold storage solutions. The warehouse will feature advanced refrigeration systems, rail service, and sustainable design, aiming to reduce its environmental impact.

• In May 2024, CJ Logistics America is planning to open a new cold storage warehouse in New Century, Kansas, in Q3 2025. This 291,000-square-foot facility, developed in partnership with Yukon Real Estate Partners and BGO, will be connected to Upfield's New Century production plant via an above-ground conveyor bridge, enabling direct delivery of finished products. This strategic move aims to enhance supply chain efficiency and meet the growing demand for cold storage solutions.

• In October 2023, RealCold plans to build two state-of-the-art cold storage facilities in Lakeland, Florida, and Lockhart, Texas, to address the growing demand for cold chain services. These facilities will offer over 78,000 pallet positions and are expected to be operational by early 2025. RealCold aims to expand its network to four more strategic markets within the next three years.

• In September 2022, Celcius Logistics launched a smart last-mile delivery platform to address cold chain challenges in India. The platform, integrated with an Inventory Management System (IMS), aims to improve the efficiency and reliability of cold chain logistics. Celcius has partnered with vehicle owners and manufacturers to create a network of reefer vehicles and has secured contracts with clients like Zepto, Maersk, and Jubilant FoodWorks. The platform is currently operational in six metro cities and will expand to tier-2 cities in the next six months.

Cold Storage Market Report Scope

 Global Cold Storage Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels, and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cold storage market report based on storage type, temperature range, application, and region.

• Storage Type Outlook (Revenue, USD Million; 2017 - 2030)

  • Facilities/Services

    • Refrigerated Warehouse

      • Private & Semi-Private

      • Public

    • Cold Room

  • Equipment

    • Blast freezer

    • Walk-in Cooler and Freezer

    • Deep Freezer

    • Others

• Temperature Range Outlook (Revenue, USD Million; 2017 - 2030)

  • Chilled (0°C to 15°C)

  • Frozen (-18°C to -25°C)

  • Deep-frozen (Below -25°C)

• Application Outlook (Revenue, USD Million; 2017 - 2030)

  • Food & Beverages

    • Fruits & Vegetables

    • Fruit Pulp & Concentrates

    • Dairy Products

      • Milk

      • Butter

      • Cheese

      • Ice cream

      • Others

    • Fish, Meat, and Seafood

    • Processed Food

    • Bakery & Confectionary

    • Others

  • Pharmaceuticals

    • Vaccines

    • Blood Banking

    • Others

  • Others

• Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

    • Norway

    • Netherlands

    • Switzerland

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Singapore

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East & Africa

    • Kingdom of Saudi Arabia (KSA)

    • UAE

    • South Africa