PUBLISHER: The Business Research Company | PRODUCT CODE: 1387633
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387633
“Refrigerated Warehousing And Storage Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on refrigerated warehousing and storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for refrigerated warehousing and storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The refrigerated warehousing and storage market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Refrigerated warehousing and storage encompass specialized facilities designed for cold storage needs, offering services such as blast freezing, tempering, and modified atmosphere storage. These facilities are utilized to preserve products that require specific temperature conditions to remain fresh, including food items, medications, and biological samples in research laboratories. They play a crucial role in maintaining product integrity, extending the shelf life of drugs, and preventing cross-contamination.
The primary types within the refrigerated warehousing and storage market include cold storage and frozen storage. Cold storage involves the preservation of items, such as food, in a cold environment. The market can also be categorized by ownership, including private warehouses, public warehouses, and bonded warehouses, as well as by application, covering areas like fruits and vegetables, bakery and confectionery, dairy products, meat, seafood, beverages, and other relevant segments.
The refrigerated warehousing and storage market research report is one of a series of new reports from The Business Research Company that provides refrigerated warehousing and storage market statistics, including refrigerated warehousing and storage industry global market size, regional shares, competitors with a refrigerated warehousing and storage market share, detailed refrigerated warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the refrigerated warehousing and storage industry. This refrigerated warehousing and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The refrigerated warehousing and storage market size has grown strongly in recent years. It will grow from $172.31 billion in 2023 to $187.87 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed during the historical period can be attributed to various factors, including the globalization of the food supply chain, increasing consumer demand for fresh products, the rise of e-commerce and online grocery shopping, and the evolving requirements of the pharmaceutical supply chain.
The refrigerated warehousing and storage market size is expected to see strong growth in the next few years. It will grow to $262.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The projected growth in the forecast period can be attributed to factors such as population growth and urbanization, a focus on sustainability and energy efficiency, economic expansion in emerging markets, and the increasing impact of climate change and extreme weather events. Noteworthy trends in the forecast period include the integration of technology, the emphasis on energy efficiency and sustainability, the growth of e-commerce and the challenges of last-mile delivery, as well as the need for specialized cold storage facilities to support e-pharmacies.
Warehouses are increasingly turning to mobile technologies to enhance the efficiency of their operations. Mobile technology encompasses the use of devices such as tablets, smartphones, mobile printers, and handheld gadgets for communication and access to information. These devices leverage technologies like GPS, RFID, VoIP, digital imaging, and voice commands. Warehouse operators and technicians operating forklifts and other automated material handling equipment are utilizing mobile technologies to access information related to troubleshooting, equipment repairs, and work orders. This grants warehouse managers real-time access to equipment status and performance data, enabling round-the-clock monitoring of warehouse operations. Furthermore, wearable technology like smart glasses is being integrated into warehouse management systems to provide hands-free mobility for workers. According to a report from MHI, a prominent material handling, logistics, and supply chain association, 22% of surveyed respondents are already using mobile technologies in their warehouses, and it is anticipated that the adoption rate will increase to 45% within the next two years.
The expansion of refrigerated warehouses is poised to drive the growth of the refrigerated warehousing and storage market. Refrigerated warehouses are facilities that employ mechanical refrigeration systems to maintain specific temperature ranges for the storage of goods. These specialized warehouses play a crucial role in refrigerated warehousing and storage by offering a controlled temperature environment for storing products that are sensitive to temperature variations. For instance, data from the United States Department of Agriculture in January 2022 revealed that the United States boasted a total gross refrigerated storage capacity of 3.73 cubic feet, with 904 refrigerated warehouses in operation during 2021. Consequently, the proliferation of refrigerated warehouses significantly contributes to the growth of the refrigerated warehousing and storage market.
Prominent companies in the refrigerated warehousing and storage sector are actively developing innovative warehouse facilities to provide reliable services to their customers. Innovative warehouse facilities are modern, technologically advanced storage spaces designed to optimize various aspects of storage, retrieval, and management processes. For instance, in October 2022, FlexCold, a leading provider of revolutionary cold storage warehousing in the United States, introduced a state-of-the-art warehousing facility aimed at modernizing and revolutionizing cold storage and food logistics warehousing. This facility features two versatile chambers suitable for frozen or chilled goods, a freezer room maintaining temperatures below zero and a blast freezer room capable of rapidly freezing items like poultry to sub-zero temperatures in under 36 hours. Additionally, it offers direct connections to 140 ports across 70 countries and is conveniently accessible to more than 98 million consumers within a day's drive.
Major companies operating in the refrigerated warehousing and storage market include AmeriCold Logistics, Nichirei Corporation, Lineage Logistics Holdings LLC, Henningsen Cold Storage Co., Burris Logistics, Toyo Suisan Kaisha Ltd., Agro Merchants North America Holdings LLC, Nippon Suisan Kaisha Ltd., Snowman Logistics Ltd., Lineage Logistics, Americold Reality Trust Inc., United States Cold Storage Inc., NewCold Cooperatief U.A., Nichirei Logistics Group Inc., Emergent Cold LatAm Management LLC, Interstate Warehousing Inc., Frialsa Frigorificos S.A. De C.V., Constellation Cold Logistics, Superfrio Logistica Frigorificada, FreezPak Logistics, Conestoga Cold Storage Limited, Congebec Logistics Inc., METCOLD Supply Network Management Limited, RLS Logistics, Friozem Armazens Frigorificos Ltda., Magnavale Ltd., Confederation Freezers, Trenton Cold Storage Inc., Nor-Am Cold Storage, Burris Logistics, Agri-Norcold A/S, Vertical Cold Storage, ColdPoint Logistics, Hanson Logistics Ltd., Cloverleaf Cold Storage Co., Henningsen Cold Storage Co., Gruppo Marconi Logistica Integrata, Zero Mountain Inc.
Asia-Pacific was the largest region in the refrigerated warehousing and storage market in 2023. North America was the second largest region in the refrigerated warehousing and storage market. The regions covered in the refrigerated warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the refrigerated warehousing and storage market report are: Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The refrigerated warehouse and storage market includes revenue earned by entities by providing refrigeration services to keep produce (often food) at an ideal temperature, prevent rotting, extend its life span, and minimize microbial contamination growth. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.