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 Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2022
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the North America cold storage market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for North America cold storage market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of North America cold storage market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

North America Cold Storage Market Categorization:

The North America cold storage market was categorized into five segments, namely warehouse type (Private & semi-private, Public), construction type (Bulk storage, Production stores, Ports), temperature type (Chilled, Frozen), application (Fruits & vegetables, Dairy, Fish, meat & seafood, Processed food, Pharmaceuticals), and region (North America).

Segment Market Methodology:

The North America cold storage market was segmented into warehouse type, construction type, temperature type, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The North America cold storage market was analyzed at a regional level. The globe was divided into North America keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into three countries, namely, the U.S.; Canada; Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

North America cold storage market companies & financials:

The North America cold storage market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Americold Logistics LLC - Americold Logistics LLC is based in the U.S. and is a temperature-controlled warehousing and transportation for the food industry. The company’s solution offering includes producer solutions and retailer solutions. The service under producer solution includes dedicated facilities, public refrigerated warehouses, port facilities, automation, and integrated consolidation programs. The service under the retailer solutions includes integrated consolidation programs, i-3PL supply chain, system integration, port facilities, automation, and network optimization study. The company makes significant investments in technology to stay ahead of the competition. The company has a presence across regions including APAC and Americas. Americold Logistics LLC acquired Cloverleaf Cold Storage in April 2019 and Agro Merchants Group in December 2020.

  • Agro Merchant Group LLC - Agro Merchant Group LLC is based in the U.S. and owns & operates temperature-controlled warehouse and distribution space. The company service offering includes cold storage & warehousing, packaging & value-added services, freight forwarding & transportation. The freight forwarding & transportation service offerings include rail, ship, truck, and air transportation to serve the distribution hub, and production location, and non-asset & on-demand-based transportation services. The value-added service offering includes import and export product inspection and testing, case picking, pet food processing, plate freezing, and seal verification. The company has a presence across regions including Latin America, Europe and North America. In December 2020, Americold Logistics LLC acquired Agro Merchants Group.

  • Burris Logistics, Inc. - Burris Logistics, Inc. is a logistics and supply chain management service company. The company provides temperature-controlled warehousing and transportation services. The company's solution offering includes custom retail distribution, refrigerated warehousing, freight management, and food service redistribution. The freight management solution includes a transportation routing system, radiofrequency controls, and cross-dock solutions. Additionally, the company offers information technology services including network optimization, facility design, tracking software, web-based platforms, and custom applications. The company caters solutions to industries including poultry, meat, frozen food, and dairy products.

  • Cloverleaf Cold Storage Company - Cloverleaf Cold Storage Company is based in the U.S. and owns & operates cold storage and food-grade ambient temperature warehouses. The company’s service offerings include warehouse services and processing services. The company warehouse services include blast freezing programs, third-party sanitation audits, cross-docking, pet food processing, food-grade dry storage, order picking, and RF scanning. The company's processing services include boxing and freezing, heat sealing, boning and trimming, air and water tempering, pre-pricing, and customer-configured processes. The company was acquired by Americold Logistics LLC in April 2019.

  • Henningsen Cold Storage Company - Henningsen Cold Storage Company is a refrigerated warehousing company that offers temperature-controlled warehousing, production support & distribution, cold chain fulfillment, transportation management, and web-based inventory. In addition, the company also provides services such as packaging, labeling & repack, display module assembly, seasonally order spikes, and others. The company offers procurement, inventory, and sourcing management services for packaging, components, raw materials, and finished goods for dry and refrigerated postponement and fulfillment strategies. Henningsen Cold Storage Company was acquired by Lineage Logistic, LLC in July 2020.

  • Kloosterboer - Kloosterboer is a Netherlands-based company that provides logistics and storage services for temperature-controlled goods. The company's service offerings include supply chain consulting; value-added services, conditioned warehousing, logistics, border inspection point, processing juices, stevedoring, IT solutions, and metals storage. The company has a total of 3,500,000 cubic meters of temperature-controlled storage capacity across its 16 branches operating across Europe, South Africa, and North America. The company stores and transports both non-food and food products including french fries, fruit juices, fish, concentrated, and other conditioned food products.

  • Lineage Logistics - Lineage Logistics is a U.S.-based firm that provides warehousing and logistics solutions to users in various industries. The company’s solutions consist of temperature-controlled public warehousing facilities for storing various food commodities including pork, beef, poultry, bakery products, fruits & vegetables, seafood, and ice creams, and vegetables. The company also provides port-centric cold chain facilities on the East and West Coasts to serve containerized markets and break bulk. The third-party facility management services comprise of customized operating solutions for Fortune 500 companies in various consumer and food segments. The company’s solutions also include dry warehousing facilities for storing various industrial and consumer goods, on-site food processing services, supply chain consulting services, and arrangement of third-party transportation solutions.

  • Nordic Logistics and Warehousing, LLC - Nordic Logistics and Warehousing, LLC is a U.S.-based firm that operates cold storage warehouses. Nordic distributes and stores various frozen food products for its customers. The company offers refrigerated warehousing services that consist of rail service, red prairie WMS, cross-docking, consolidation programs, blast freezing, transportation, and fulfillment services. The company also offers port-based cold storage solutions. Nordic provides temperature-controlled distribution and storage solutions to importers, manufacturers, exporters, food service operators, and retailers. Nordic Logistics operates as a subsidiary of AGRO Merchants Group as of October 2, 2016.

  • Preferred Freezer Services, LLC - Preferred Freezer Services, LLC is engaged in the warehousing, cold storage, distribution, and logistics industry. The company offers a full-service, temperature-controlled warehouse in the U.S. to provide services to retail and food service companies. It also offers public refrigerated warehouse services in China, North America, and Vietnam. In addition, the company provides less-than-truckload/truckload, intermodal, and drayage services. Preferred Freezer has its cold storage facilities in Florida, New Jersey, Georgia, California, Illinois, Massachusetts, Texas, Pennsylvania Virginia, China, and Vietnam. Preferred Freezer Services, LLC is a BRC (British Retail Consortium) certified company. Preferred Freezer Services, LLC was acquired by Lineage Logistics (U.S.) in May 2019.

  • Swire Group - Swire Group is based in the UK operating through five business segments including property, aviation, marine services, beverages, trading & industrial, agribusiness & food chain, and marine services. The company’s cold chain service offerings include handling & storage, transport services, and value-added services. The value-added services include refrigerated city distribution, seaborne imports by air, and inspection and quarantine clearance. The company offers services through subsidiaries across the regions including Australia, East Africa, the U.S., the UK, Hong Kong, Papua New Guinea, and China.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

North America Cold Storage Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2020, historic information from 2017 to 2019, and forecast from 2017 to 2028). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

North America Cold Storage Market Report Assumptions:

  • The report provides market value for the base year 2020 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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