The global cold storage market size is expected to reach USD 485.32 billion by 2030, registering a CAGR of 17.2%, according to a new study conducted by Grand View Research, Inc. 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.
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 organized retail sector, the demand for cold storage solutions is expected to grow over the projected period. Organized retail supports different outlet formats depending on spending power and proximity to 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.
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Low carbon design, environmental auditing, and construction of energy-efficient cold storage warehouses are anticipated to fuel the demand for cold storage
Growing supermarket shopping culture and rising consumer preference toward private labels are the key factors for the expansion of food retail chains across the globe
The frozen segment is anticipated to register a CAGR of 16.2%. 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 20.6% over the projected period
The market in Japan is becoming increasingly saturated, resulting in cold storage operators in the country seeking avenues to enhance international trade.
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 - 2030)
Private & Semi-private
Cold Storage Construction Type Outlook (Revenue, USD Billion, 2017 - 2030)
Cold Storage Temperature Type Outlook (Revenue, USD Billion, 2017 - 2030)
Cold Storage Application Outlook (Revenue, USD Billion, 2017 - 2030)
Fruits & Vegetables
Fish, Meat & Seafood
Cold storage Regional Outlook (Revenue, USD Billion, 2017 - 2030)
The Middle East and Africa (MEA)
List of Key Players in the Cold Storage Market
Americold Logistics, LLC
Cloverleaf Cold Storage
Henningsen Cold Storage
Wabash National Corporation
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