GVR Report cover North America Cold Storage Market Size, Share & Trends Report

North America Cold Storage Market Size, Share & Trends Analysis Report By Type (Storage, Transportation, Packaging, Monitoring Components), By Temperature Range, By Application, By Country, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-164-1
  • Number of Report Pages: 100
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2022
  • Forecast Period: 2023 - 2028 
  • Industry: Technology

North America Cold Storage Market Trends

The North America cold storage market size was valued at USD 46.52 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2030. Increasing penetration of connected devices and presence of a large consumer base are the key trends bolstering market growth. Furthermore, growing automation of refrigerated warehouses is anticipated to enhance the demand for the product. Automation in warehouses is achieved with the use of cloud technology, conveyor belts, robots, energy management systems, and truck loading automation. Integration of workforce management solutions for picking optimization & workforce forecast has led to reduced labor costs.

U.S. Cold Storage market size and growth rate, 2024 - 2030

Moreover, rising automation in refrigerated warehouses is projected to further boost the demand. Warehouse automation includes cloud technology, robots, conveyor belts, truck loading automation, and energy management. Refrigerated storage has become an integral part of the Supply Chain Management (SCM) when it comes to transporting and storing temperature-sensitive products.

Cold storage is temperature-controlled storage space. The method is used by industries such as fisheries, aquaculture, horticulture, agriculture, processed food, and dairy. Cold storage systems and refrigerated transportation facilities, which connect the farm-level storage facilities, distribution outlets, and processing units, are estimated to improve the efficiency of the supply chain and reduce wastage of agricultural products.

Bilateral free trade agreements such as the North America Free Trade Agreement (NAFTA) have created opportunities for exporters in the U.S. to increase the trading of perishable foods with no import duties. Such trade agreements are projected to work in favor of the market.

The market is likely to witness considerable growth over the forecast period, owing to a combination of factors such as technological advancements in processing, packaging, and storage of seafood products. Integrated refrigerated warehousing is poised to experience high growth over the forecast period.

Cold storage is an integral part of supply chain management and transportation and storage of temperature-sensitive products. Growing trade of perishable products is expected to drive the market growth. Industry players are increasingly adopting alternative energy solutions, such as wind and solar energy, to minimize the overall operating costs.

Market Concentration & Characteristics

The North America cold storage market growth stage is medium. The degree of innovation in the North America Cold Storage Market can be considered medium. While there have been advancements in automation, energy-efficient technologies, and inventory management systems, the overall pace of innovation may not be as high as in some other industries.

U.S. AI In Oncology Market Concentration & Characteristics

The North America Cold Storage Market has witnessed a moderate level of mergers and acquisitions. Companies within the sector often engage in strategic alliances, acquisitions, and partnerships to expand their capacities, regional presence, and service offerings. This activity contributes to the consolidation and competitiveness of the industry.

The impact of regulations on the North America Cold Storage Market is high. Given the critical role cold storage plays in preserving the integrity of temperature-sensitive products, stringent regulations govern aspects such as temperature control, hygiene, and food safety. Compliance with these regulations is crucial for operators in the cold storage industry.

The nature of cold storage, especially in handling perishable goods, results in a low availability of product substitutes. There are limited alternatives for preserving products requiring specific temperature conditions over an extended period. This lack of substitutes contributes to the essential role of cold storage in various industries, including food and pharmaceuticals.

The concentration of end users in the North America Cold Storage Market is high. Industries such as food and beverage, pharmaceuticals, and agriculture heavily rely on cold storage facilities to maintain the quality and safety of their products. This high concentration emphasizes the industry's significance in serving specific sectors with critical temperature-sensitive storage needs.

Type Insights

Based on type, the market is segmented into facilities/services and equipment. The facilities/services segment dominated the overall market, gaining a revenue share of more than 92% in 2023. It is expected to grow at a CAGR of 16.2% from 2024 to 2030 throughout the forecast period. Based on facilities/services, the cold storage industry has been segmented into refrigerated warehouses and cold rooms. The refrigerated warehouses sub-segment is further divided into private & semi-private and public warehouses. These warehouses provide storage spaces to meet clients’ specific requirements, including storage capacities, racking systems, and segregated zones for different products. These warehouses are specifically designed for various applications, including pharmaceutical and food & beverage. Companies across the globe are making notable advancements in the cold storage market to strengthen their market position within the realm of refrigerated warehouses.

The equipment segment is anticipated to grow at the fastest CAGR of 18.1% from 2024 to 2030. Factors such as changing food preferences, changing lifestyles, and growing online food delivery services are driving the demand for frozen food across the region. 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.

Temperature Range Insights

Based on temperature range, the market has been segmented into chilled (0°C to 15°C), frozen (-18°C to -25°C), and deep-frozen (below -25°C). The frozen (-18°C to -25°C) segment dominated the overall market, gaining a revenue share of more than 64% in 2023. It is expected to grow at a CAGR of 17.5% throughout the forecast period. The primary benefit of frozen storage is its ability to effectively preserve perishable goods such as meat, poultry, seafood, and frozen vegetables. Maintaining low temperatures helps extend shelf life, preventing spoilage and food waste. Moreover, the increasing demand for frozen convenience foods, including frozen dinners, pizza, and frozen fruits, has fueled the need for frozen storage. Consumers appreciate the convenience and longer shelf life of these products. In the pharmaceutical industry, frozen storage is crucial for storing vaccines, biologics, and temperature-sensitive medications to ensure the stability and effectiveness of these products.

The chilled (0°C to 15°C) segment is anticipated to grow at a CAGR of 14.5% throughout the forecast period. In the chilled segment, warehouses store a variety of items, including fresh fruits and vegetables, eggs, dairy products, dry fruits, and dehydrated foods. The temperature within this segment is akin to that of a standard refrigerator, effectively inhibiting the growth of harmful bacteria on perishable food items and thereby preventing decomposition. The growth of this segment is primarily fueled by the necessity to store and prolong the shelf life of products that are sensitive to temperature variations.

Application Insights

Based on application, the market is segmented into pharmaceuticals, food & beverages, and others. The food & beverages segment dominated the North America Cold Storage industry, gaining a market share of 78% in 2023. Anticipated advancements in technology pertaining to the storage, packaging, and processing of seafood are expected to contribute to the growth of this sector. Nevertheless, the processed food segment is projected to experience substantial growth in the coming years, primarily due to ongoing innovations in packaging materials. The progress in packaging materials plays a key role in extending the shelf life of food products, consequently leading to increased sales of processed foods in recent years.

North America Cold Storage market share and size, 2023

The pharmaceuticals segment is expected to grow at a considerable CAGR of 18.1% over the forecast period. The robust demand for products in the pharmaceutical segment can be ascribed to its critical role in preserving the effectiveness and safety of pharmaceuticals. Vaccines are biological preparations to protect humans from harmful viruses and bacteria. Being a biological product, too low or too high temperatures are likely to degrade active ingredients and hamper the effectiveness of vaccines. Moreover, vaccines cannot be restored once they lose their effectiveness. Hence, temperature-controlled facilities and equipment play a crucial role in the storage and transportation of vaccines. The optimum temperature range to store and transport vaccines is 2°C - 8°C. Equipment to facilitate this include cold boxes, ice packs, and refrigerators. Various cold storage market players, such as Burris Logistics and National Cold Chain Inc. offer cold storage solutions and vaccine services.

Country Insights

U.S. Cold Storage Market Trends

The U.S. cold storage market size was valued at USD 36.91 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.1% from 2024 to 2030. The growth can be attributed to several critical factors, such as technological advancements in packaging, processing, and storage of perishable food products and temperature-sensitive items. The market has also benefitted significantly from the stringent government regulation toward the production and supply of temperature-sensitive products.

Canada Cold Storage Market Trends

Cold storage facilities in Canada accommodate a range of products, including fruits, vegetables, dairy, meat, seafood, pharmaceuticals, and other temperature-sensitive items. The market contributes significantly to the distribution and logistics network, ensuring the efficient and safe transportation of temperature-sensitive goods across the country. Cold storage providers offer customized solutions to meet the unique needs of various industries, including frozen storage, chilled storage, and specialized storage for pharmaceuticals or other sensitive products.

Key North America Cold Storage Company Insights

Some of the key players operating in the market include e LINEAGE LOGISTICS HOLDING, LLC; Americold Logistics, Inc.; among others.

  • LINEAGE LOGISTICS HOLDING, LLC is a U.S.-based firm that provides warehousing and logistics solutions to users operating in various industries. The company’s solutions consist of temperature-controlled public warehousing facilities for storing various types of food, including pork, beef, poultry, bakery products, fruits & vegetables, seafood, ice creams, and vegetables. The company also provides port-centric Cold Storage facilities on the East and West Coasts of the country to serve containerized markets and break bulk for its customers. The third-party facility management services comprise customized operating solutions for Fortune 500 companies in various consumer and food segments.

  • In April 2023, LINEAGE LOGISTICS HOLDING, LLC announced the opening of a new facility in Port Wentworth, Georgia. The facility is 220,000 square feet in size and offers cross-docking services. With this expansion, the company aimed to meet the needs of port-centric warehousing.

  • Americold Logistics, Inc., based in the U.S., provides temperature-controlled warehousing and transportation for the food industry. The services provided under producer solution include dedicated facilities, public refrigerated warehouses, port facilities, automation, and integrated consolidation programs. The services provided under the retailer solutions include integrated consolidation programs, i-3PL supply chain, system integration, port facilities, automation, and network optimization study. It has marked its presence across regions such as Asia Pacific and the Americas.

  • In June 2023, Canadian Pacific Kansas City (CPKC) and Americold announced a strategic partnership for the co-location of Americold’s warehouse facilities on the CPKC network. The main objective of the partnership is the optimization of temperature-controlled logistics across North America by building a facility in Kansas City, Missouri, bringing together cold storage and value-added-services and connecting major markets in the U.S. Midwest and Mexico.

  • NewCold and Tippmann Group are some of the emerging companies in the North America cold storage market

  • NewCold, a prominent player in the North America Cold Storage Market, has established a notable presence in the region. Known for its innovative and automated cold storage solutions, NewCold brings advanced technology and expertise to the storage and distribution of temperature-sensitive products. With a focus on serving various sectors such as food and beverages, pharmaceuticals, and other industries with stringent cold storage requirements, NewCold contributes significantly to the advancements and competitiveness of the North America Cold Storage Market. As the demand for efficient, reliable, and sustainable cold storage solutions continues to rise, NewCold's innovative approach positions it as a key player in shaping the future of the cold storage industry in North America.

  • Tippmann Group is a provider of cold storage construction and warehousing solutions for the food industry. According to the Global Cold Storage Alliance (GCCA), Interstate Warehousing, a Tippmann Group subsidiary, held the fourth position in terms of operated temperature-controlled space in North America as of May 2023. The company has a presence in several U.S. states, including Illinois, Colorado, Arizona, and Virginia. In June 2021, Tippmann Group introduced the Pallet Fit door as an enhancement to its QFR Zone blast-freezing solution. This door offers increased flexibility for rapidly freezing palletized products. The company aimed to enhance the efficiency of its blast-freezing solution with this upgrade.

Key North America Cold Storage Companies:

The following are the leading companies in the North America cold storage market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these North America cold storage companies are analyzed to map the supply network.

  • Americold Logistics, Inc
  • Burris Logistics
  • Wabash National Corporation
  • United States Cold Storage
  • Tippmann Group
  • NFI Industries
  • Penske
  • Seafrigo Group
  • NewCold

Recent Developments

  • In June 2023, Canadian Pacific Kansas City (CPKC) and Americold have unveiled a strategic collaboration to co-locate Americold's warehouse facilities on the CPKC network. The primary goal of this partnership is to enhance the efficiency of temperature-controlled logistics throughout North America. This involves the establishment of a facility in Kansas City, Missouri, where cold storage and value-added services will be integrated. The initiative aims to create seamless connectivity between key markets in the U.S. Midwest and Mexico.

  • In December 2022, Interstate Warehousing, a Tippmann Group’s company, announced the expansion of its facilities by holding a groundbreaking ceremony in Kingman, Arizona. The facility was built on a 92 acre site to address the cold storage needs on the West Coast.

North America Cold Storage Market Report Scope

Report Attribute


Market size value in 2023

USD 46.52 billion

Revenue forecast in 2030

USD 131.75 billion

Growth rate

CAGR of 16.3% from 2024 to 2030

Actual Data

2017 - 2022

Forecast period

2024 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, temperature range, application, country

Regional scope

North America

Country scope

U.S.; Canada

Key companies profiled

Americold Logistics, Inc.; LINEAGE LOGISTICS HOLDING, LLC; United States Cold Storage; Burris Logistics; Wabash National Corporation; NewCold; Sonoco ThermoSafe (Sonoco Products Company); United Parcel Service of America, Inc.; A.P. Moller - Maersk; NICHIREI CORPORATION; Tippmann Group

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

North America Cold Storage Market Report Segmentation

This report forecasts revenue growths at regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the North America cold storage market report based on type, temperature range, application, and country:

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

    • Chilled (0°C to 15°C)

    • Frozen (-18°C to -25°C)

    • Deep-frozen(Below -25°C)

  • Application Outlook (Revenue, USD Billion; 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

  • Country Outlook (Revenue, USD Billion; 2017 - 2030)

    • U.S.

    • Canada

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