The Cold Storage Market was at US$ 112 Billion in 2021 and is growing to approx US$ 330 Billion by 2030, with a CAGR growth of 11% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, February 13, 2023 /EINPresswire.com/ -- According to the study, The Global Cold Storage Market was estimated at USD 112 Billion in 2021 and is anticipated to reach around USD 330 Billion by 2030, growing at a CAGR of roughly 11% between 2022 and 2030.

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Cold Storage Market: Overview

By 2050, the world’s population is projected to reach 9.7 billion people, which suggests a potential increase in food demand. However, it is getting harder for farmers in some regions of the world to grow food as a result of climate change and other causes. Businesses are using cold storage as a solution to keep food storage feasible and reasonably priced for consumers. The worldwide cold storage market is expected to rise as a result, according to projections.

Cold Storage Market: Growth Drivers

The stringent regulations controlling the manufacturing and distribution of temperature-sensitive goods have greatly benefited the market. During the projection period, the industry is expected to experience exceptional growth as a result of the expanding organized retail markets in emerging economies. Additionally, it is anticipated that increased automation in refrigerated warehouses will further increase demand.

Over the coming years, it is also projected that the expanding commerce in perishable goods would contribute to an increase in demand for refrigeration storage options. Cold chain shipping has an impact on the environment, and users and suppliers of temperature-controlled packaging technologies are working to lessen it. In addition, promoting formal Corporate Social Responsibility (CSR) initiatives, strict government restrictions, and shifting consumer expectations all provide significant obstacles to the creation of an effective packaging system.

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Key Insights:

A) As per the analysis shared by our research analyst, the Cold Storage market is estimated to grow annually at a CAGR of around 11% over the forecast period (2022-2030).
B) In terms of revenue, the Cold Storage market size was valued at around USD 112 Billion in 2021 and is projected to reach USD 330 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Consumption of various goods and products has rapidly expanded in a worldwide economy, driving up demand for the cold storage sector.
D) All supply lines were broken, and during the lockdowns, food consumption and subsidiary sales fell. Additionally, there was a sharp decline in global infrastructure spending.
E) The expansion of global trade brought on by trade liberalization is the main factor propelling the market for cold storage systems. Trade liberalization, improvements in communications and transportation infrastructure, and the rise of multinational corporations in the food retail industry are all factors that have contributed to an increase in globalization.
F) There are several limitations and difficulties that will impede the expansion of the market as a whole. The market’s expansion is being hampered by issues including inadequate infrastructure and unreliable power supplies at cold warehouses.

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Regional Landscape

In 2021, the North American geographical segment dominated the market and contributed over 35% of global revenue. One of the main drivers of the region’s growth is the abundance of connected devices combined with a sizable user base. Due to the expansion of the network of warehouses and increased investments in the construction of the logistics infrastructure, Mexico is predicted to see exponential growth in North America. These would also operate as the primary drivers of the cold chain’s demand.

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Key Players

Americold Logistics LLC
Lineage Logistics Holdings
Nichirei Corporation
The United States Cold Storage
Henningsen Cold Storage Co.
Tippmann Group
VersaCold Logistics Services
NewCold
Congebac Inc.
Snowman Logistics Pvt Ltd
Cloverleaf Cold Storage
Wabash National Corporation

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The Cold Storage Market is segmented as follows:

By Type

Public
Private/Semi-Private

By Construction Type

Ports
Bulk Storage
Production Stores

By Temperature

Frozen
Chilled

By Application

Dairy
Pharmaceuticals
Fish, Meat, & Seafood
Fruits & Vegetables
Processed Foods
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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