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Cold Storage Market Surges to USD 427.8 Billion by 2030, Propelled by 17.9% CAGR - Verified Market Reports®


News provided by

Verified Market Reports

21 Aug, 2024, 14:00 GMT

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The demand for cold storage is rapidly increasing due to the growth of the food and beverage industry, the expansion of e-commerce, and the rising need for temperature-sensitive pharmaceuticals. Technological advancements in refrigeration and the need for efficient supply chains further drive market growth. However, the market faces restraints such as high initial capital investment, significant operational costs, and the need for constant energy supply. Additionally, regulatory compliance and environmental concerns regarding refrigeration practices pose challenges. Despite these restraints, the cold storage market continues to expand, driven by global demand for perishable goods and temperature-sensitive products.

JERSEY CITY, N.J., Aug. 21, 2024 /PRNewswire/ -- The Global Cold Storage Market is projected to grow at a CAGR of 17.9% from 2024 to 2030, according to a new report published by Verified Market Reports®. The report reveals that the market was valued at USD 139 Billion in 2023 and is expected to reach USD 427.8 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketreports.com/download-sample/?rid=113089 

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VM_Reports

Browse in-depth TOC on Cold Storage Market

202 - Pages
126 – Tables
37 – Figures

Scope of The Report

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2021-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2021-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Cloverleaf Cold Storage, Agro Merchants, Burris Logistics, Americold Logistics, Wabash.

SEGMENTS COVERED

By Type, By Application, By Geography.

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

Global Cold Storage Market Overview

Market Drivers Fueling Growth in the Cold Storage Market

Rising Demand for Perishable Foods: The increasing global population and urbanization have led to higher consumption of perishable foods such as fruits, vegetables, dairy, and meat. This surge in demand necessitates efficient cold storage solutions to maintain product freshness and reduce spoilage. Furthermore, the growing awareness of food safety and quality among consumers has driven the need for advanced cold chain logistics, boosting market expansion.

Growth of E-commerce and Online Grocery Sales: The rapid growth of e-commerce, particularly in the grocery sector, has significantly impacted the cold storage market. Online grocery shopping has become more prevalent, requiring sophisticated cold storage facilities to handle the increased volume of perishable goods. This shift towards online retail has prompted companies to invest in state-of-the-art cold storage infrastructure to ensure timely and efficient delivery of temperature-sensitive products.

Technological Advancements in Cold Storage Solutions: Innovations in cold storage technology, including automation, energy-efficient refrigeration systems, and real-time monitoring, are major drivers of market growth. These advancements enhance the efficiency and reliability of cold storage operations, reducing operational costs and energy consumption. As companies seek to optimize their supply chains and meet stringent regulatory requirements, the adoption of these cutting-edge technologies is fueling the expansion of the cold storage market.

To Purchase a Comprehensive Report Analysis: 
https://www.verifiedmarketreports.com/download-sample/?rid=113089 

Market Restraints Limiting Expansion in the Cold Storage Market

Rising Demand for Perishable Foods: The increasing global population and urbanization have led to higher consumption of perishable foods such as fruits, vegetables, dairy, and meat. This surge in demand necessitates efficient cold storage solutions to maintain product freshness and reduce spoilage. Furthermore, the growing awareness of food safety and quality among consumers has driven the need for advanced cold chain logistics, boosting market expansion.

Growth of E-commerce and Online Grocery Sales: The rapid growth of e-commerce, particularly in the grocery sector, has significantly impacted the cold storage market. Online grocery shopping has become more prevalent, requiring sophisticated cold storage facilities to handle the increased volume of perishable goods. This shift towards online retail has prompted companies to invest in state-of-the-art cold storage infrastructure to ensure timely and efficient delivery of temperature-sensitive products.

Technological Advancements in Cold Storage Solutions: Innovations in cold storage technology, including automation, energy-efficient refrigeration systems, and real-time monitoring, are major drivers of market growth. These advancements enhance the efficiency and reliability of cold storage operations, reducing operational costs and energy consumption. As companies seek to optimize their supply chains and meet stringent regulatory requirements, the adoption of these cutting-edge technologies is fueling the expansion of the cold storage market.

Geographic Dominance

North America currently holds a dominant position in the cold storage market, driven by its well-established infrastructure, advanced technological capabilities, and strong demand for perishable goods. The region's robust supply chain network, coupled with significant investments in automation and energy-efficient cold storage facilities, contributes to its leadership. Additionally, the growing e-commerce sector, particularly in online grocery sales, has further bolstered demand for cold storage solutions. Europe follows closely, benefiting from stringent food safety regulations and a high emphasis on sustainability. Meanwhile, Asia-Pacific is emerging as a key growth region, with rapid urbanization, rising disposable incomes, and expanding food retail sectors driving increased cold storage capacity.

Cold Storage Market Key Players Shaping the Future

Major players, including Cloverleaf Cold Storage, Agro Merchants, Burris Logistics, Americold Logistics, Wabash and more, play a pivotal role in shaping the future of the Cold Storage Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.

Cold Storage Market Segment Analysis

Based on the research, Verified Market Reports® has segmented the global Cold Storage Market into Type, Application and Geography.

  • Cold Storage Market, By Type
    • Private & Semi-Private
    • Public
  • Cold Storage Market, By Application
    • Fruits & Vegetables
    • Dairy
    • Fish
    • Meat & Seafood
    • Processed Food
    • Pharmaceuticals
  • Cold Storage Market, By Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Future of Cold Storage: Top 7 Trends Shaping the Ultra-Low Temperature Freezers (ULT Freezers) Market

About Us

Verified Market Reports® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, Verified Market Reports has been instrumental in providing founders and companies with precise, up-to-date research data.

With a team of 500+ Analysts and subject matter experts, Verified Market Reports leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.

Verified Market Reports' domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.

Verified Market Reports® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights Verified Market Reports' dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.

Contact Us
Mr. Edwyne Fernandes
Verified Market Reports®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketreports.com 
Web: https://www.verifiedmarketreports.com/
Follow Us: LinkedIn | Twitter

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