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NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global cold storage market size is estimated to grow by USD 145.71 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 13.83% during the forecast period. Rising awareness about reducing wastage of food is driving market growth, with a trend towards use of fuel cell-based forklifts in refrigerated warehousing.
However, seasonal demand for refrigerated products poses a challenge market players include Americold Realty Trust Inc., Beijing Howcool Refrigeration Technology Co. Ltd.
, Burris Logistics Co., Changzhou Yuyan Refrigeration Equipment Co. Ltd.
, Coldman Logistics Pvt. Ltd., Commercial Cold Storage Group Ltd.
, Congebec Logistics Inc., Falcon Refrigeration Industry, Holt Logistics Corp., Indicold Pvt Ltd.
, Interstate Cold Storage Inc., John Swire and Sons Ltd., Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Nor AM Cold Storage, RSA Global DWC LLC, Snowman Logistics Ltd.
, Stellar, VersaCold Logistics Services, and Nichirei Corp.. Key insights into market evolution with AI-powered analysis.
Explore trends, segmentation, and growth drivers- View Free Sample PDF Cold Storage Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 13.83% Market growth 2024-2028 USD 145.71 billion Market structure Fragmented YoY growth 2022-2023 (%) 15.
11 Regional analysis APAC, North America, Europe, Middle East and Africa, and South America Performing market contribution APAC at 52% Key countries US, China, India, Japan, and UK Key companies profiled Americold Realty Trust Inc., Beijing Howcool Refrigeration Technology Co. Ltd.
, Burris Logistics Co., Changzhou Yuyan Refrigeration Equipment Co. Ltd.
, Coldman Logistics Pvt. Ltd., Commercial Cold Storage Group Ltd.
, Congebec Logistics Inc., Falcon Refrigeration Industry, Holt Logistics Corp., Indicold Pvt Ltd.
, Interstate Cold Storage Inc., John Swire and Sons Ltd., Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Nor AM Cold Storage, RSA Global DWC LLC, Snowman Logistics Ltd.
, Stellar, VersaCold Logistics Services, and Nichirei Corp. Market Driver Cold storage market is witnessing trends such as stricter regulations, organized retail sectors, and advancements in technology. Cloud technology, conveyor belts, and robots are being used for efficient energy management and truck-loading automation.
The perishable product trade is a significant market driver, with a focus on low-carbon designs and environmental auditing. Initial investment in a cold storage facility can be high, but leading players like RSA Logistics and Nova Cold Logistics are expanding their infrastructure. The regulatory environment impacts the dairy segment, with pharmaceutical items requiring specific refrigerant usage and hybrid cooling systems.
End-user concentration is high in the food and beverages sector, including frozen foods like eggs, dairy products, dry fruits, and dehydrated foods. Temperature range varies from chilled to frozen and deep-frozen, with warehouses catering to fruits and vegetables, medications, and meat production. Connected devices and AI models are preferred for monitoring and managing temperature and data assets.
Preferred Freeze, Bitpanda, and Bitpanda Wealth are exploring opportunities in the private segment, while public segments cater to a wider range of perishables. The Chinese government's focus on reducing food waste and population expansion is driving the demand for more storage facilities. Warehouse managers must address food spoilage and maintain temperature ranges for various products.
Fuel cell technology is revolutionizing the cold storage market by powering forklifts with hydrogen-generated energy. This clean energy source produces electricity, heat, and water through an electrochemical reaction, making it ideal for refrigerated warehouses where battery-powered forklifts struggle. In cold temperatures, battery-operated forklifts can only function for 30-40% of their normal operating hours.
However, fuel cell-based forklifts can operate optimally even in sub-zero temperatures, offering significant advantages in terms of productivity and efficiency for cold storage businesses. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This cold storage market report extensively covers market segmentation by 1.1 Meat and seafood- The meat and seafood segment is the largest in the global cold storage market due to the requirement for temperature-controlled storage to preserve their nutritional value and extend their shelf life.
Meat and seafood have distinct temperature requirements: fresh seafood needs to be stored at 32 degrees F (0 degrees C), while frozen seafood requires 0.40 degree F (-18 degree C) or less. Cold storage facilitates these conditions, ensuring the quality and freshness of these perishable goods.
The increasing consumption of meat, projected to rise by 4 kg (8.8 pounds) per capita from 2015 to 2030, necessitates cold storage to maintain freshness and prevent spoilage. Frozen meat is preferred for its convenience, health benefits, and longer shelf life.
Major players like JBS SA and Tyson Foods Inc. Cater to this demand, increasing the need for cold storage infrastructure. New entrants, such as Planterra Foods, are launching frozen food lines to meet consumer preferences.
Cold storage plays a crucial role in food safety by preventing pathogenic microorganisms and spoilage, making it an essential component of the food industry's growth. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The cold storage market is experiencing significant growth due to the increasing demand for preserving perishable products, particularly in the organized retail sector and convenience stores. Strict regulations imposed by governments, including the Chinese government due to population expansion, are driving the need for advanced cold storage solutions.
Cloud technology, conveyor belts, and robots are being integrated into these facilities for efficient energy management and reduced food waste. Low-carbon designs are also gaining popularity to minimize the carbon footprint. The market caters to various sectors, including fish, meat, and food products, with a focus on minimizing food spoilage and extending shelf life.
Warehouse managers rely on battery charging stations and forklift battery replacement to ensure uninterrupted operations. Market Research Overview The cold storage market is witnessing significant growth due to stricter regulations in the organized retail sector and the increasing trade of perishable products. Cloud technology, conveyor belts, robots, and energy management systems are being adopted for efficient operations.
Infrastructure development, including insulation and refrigeration systems, is crucial for cold storage facilities. The market encompasses various storage types such as cold rooms, public warehouses, and refrigerated facilities. Temperature ranges vary from chilled to deep-frozen, catering to a wide range of products including fruits and vegetables, dairy items, frozen foods, and pharmaceutical products.
Energy management and low-carbon designs are key considerations to reduce initial investment and environmental impact. Hybrid cooling systems and connected devices are also gaining popularity. The market is segmented into private and public segments, with the dairy industry being a significant contributor.
Regulatory environment, refrigerant usage, and temperature control are key challenges. China, with its population expansion and excessive food waste, presents a significant opportunity for growth. Warehouse managers must balance food preservation and spoilage while adhering to environmental auditing standards.
Innovations in AI models, data assets, and data infrastructures are transforming the industry. Emerging players like RSA Logistics, Nova Cold Logistics, and Bitpanda are making their mark in the market. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company.
Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: SOURCE Technavio MENAFN11112024003732001241ID1108873929 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article.
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