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cold storage market
cold storage market
DUBLIN, Oct. 17, 2024 (Globe Newswire) — “Cold Storage – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global cold storage market was estimated at USD 155.2 billion in 2023 and is projected to reach USD 776.2 billion by 2033, growing at a CAGR of 17.5% from 2023 to 2033.
Cold storage is a critical element of modern supply chains, especially for industries that handle perishable goods such as food, pharmaceuticals, and certain chemicals. Cold storage refers to a refrigerated or temperature-controlled facility designed to store products that require a specific temperature range to maintain quality and extend shelf life. Without cold storage, the global food supply chain would struggle to get fresh produce, dairy, meat, seafood, and frozen goods to consumers without spoiling. Similarly, the pharmaceutical industry relies on cold storage to store and transport temperature-sensitive medicines, vaccines, and biologics.
Refrigeration facilities maintain appropriate environmental conditions, typically below freezing to below zero, to prevent spoilage, spoilage, and contamination, ensuring product safety and effectiveness from the point of production to the point of sale or use. As demand for fresh produce, health products, and temperature-sensitive goods increases, refrigeration solutions are becoming more sophisticated and popular, making them essential to a variety of industries.
How does cold storage improve product quality and safety?
Refrigerated storage plays an important role in maintaining the quality, freshness, and safety of perishable foods. In the food industry, it slows down the biological processes that cause food spoilage, such as enzymatic reactions, microbial growth, and oxidation. For example, fruits and vegetables stored in cold environments will ripen more slowly and their nutrients will deteriorate, while meat and seafood will prevent the development of harmful bacteria that thrive in warmer environments. By maintaining controlled temperatures, refrigeration helps extend the shelf life of these products and ensures that they retain their nutritional value, texture, and taste. This reduces food waste, allows products to be transported over long distances, and supports global trade in fresh produce. In the pharmaceutical sector, cold storage is essential to maintain the potency and effectiveness of temperature-sensitive medicines and vaccines.
Many drugs, especially biologics and vaccines, must be stored at a specific temperature range (often 2°C to 8°C) to remain effective. When exposed to high temperatures, these products can deteriorate, lose potency, or even become harmful. Refrigeration facilities, including dedicated freezers at ultra-low temperatures (down to -70°C for certain vaccines), ensure that these life-saving products remain stable from the point of manufacture to their final destination (e.g., pharmacy, hospital, hospital) I will. distribution center.
What are the main uses of cold storage in different industries?
Cold storage is used in a variety of industries, each with specific requirements for temperature control and storage conditions. In the food and beverage industry, refrigeration is fundamental to preserving raw and processed foods, including dairy products, fruits, vegetables, meat, seafood, and beverages such as juices and wine. Warehouses with cold storage capabilities allow supermarkets, restaurants, and food distributors to stock large quantities of perishable food while keeping it fresh.
Refrigerated storage also allows the food industry to comply with regulatory standards for food safety, such as the Hazard Analysis and Critical Control Point (HACCP) system, which mandates strict temperature controls to prevent contamination and spoilage. In the pharmaceutical and healthcare industries, cold storage is essential for storing vaccines, blood products, biologics, and other temperature-sensitive medicines. Hospitals, clinics, and pharmacies rely on cold storage to maintain the integrity of critical medical supplies, while pharmaceutical companies use cold storage to store bulk products prior to distribution.
In the life sciences field, research materials such as DNA samples and enzymes are sometimes stored refrigerated and must be kept at a specific temperature to remain stable for experimentation and development. Cold storage is also used in the chemical industry for storing volatile or reactive materials at high temperatures. Certain chemical and industrial products, such as adhesives, coatings, and fertilizers, require a cold environment to prevent spoilage, unwanted reactions, and safety hazards. Additionally, in the flower industry, refrigeration helps preserve flowers and plants, increasing their freshness and marketability at retail stores and events.
What are the main growth drivers of the cold storage industry?
The growth of the cold storage industry is driven by several key factors, such as increasing global trade in fresh produce, increasing consumer demand for fresh and frozen produce, and expansion of the pharmaceutical industry. One of the key drivers is the increased consumption of temperature-sensitive foods such as fresh produce, dairy, seafood, and meat, and maintaining quality and safety throughout the supply chain requires robust cold storage. Requires chain infrastructure. As consumers become more health conscious and demand fresher, less processed foods, there is a need for expanded refrigeration facilities to store and distribute these products.
Additionally, with the rise of e-commerce and online grocery shopping, companies need to fulfill direct-to-consumer orders for perishables while ensuring timely delivery without compromising product quality, so refrigerated Demand for storage space is increasing. Another major factor driving the growth of the cold storage industry is the increasing reliance on temperature-sensitive medicines and vaccines. As the pharmaceutical industry continues to grow and develop biological therapies that are highly sensitive to temperature changes, there will be a continued demand for specialized cold storage solutions. Advances in technology also play an important role in the growth of the cold storage industry. Innovations in refrigeration, energy efficiency, and automated warehousing systems have improved the performance and sustainability of cold storage facilities, making them more cost-effective and environmentally friendly. Smart technologies such as IoT sensors and remote monitoring enable precise temperature control and real-time tracking of cold storage environments, reducing the risk of spoilage and ensuring compliance with strict regulatory standards.
Finally, expanding global supply chains and increasing demand for international trade in fresh produce are driving the need for additional cold storage facilities around the world. Emerging markets, particularly in Asia and Latin America, are seeing increased demand for cold storage infrastructure as they import more fresh and frozen goods. This global expansion, coupled with the rise of more stringent food safety regulations, is creating new growth and investment opportunities in the cold storage sector. As industry and consumers continue to prioritize fresh, high-quality, and safe products, the cold storage industry is expected to play an increasingly important role in supporting these evolving demands.
Key insights:
Market Growth: Understand the significant growth trajectory of the private warehousing sector. This sector is expected to reach USD 490.8 billion by 2033 at a CAGR of 17.5%. The public warehousing segment is also expected to grow at a CAGR of 17.5% during the analysis period.
Regional Analysis: Gain insight into the US market, estimated to be worth $42.3 billion in 2023, and the China market, expected to grow at an incredible 17.5% CAGR and reach $130.4 billion by 2033. Review growth trends in other key regions including Japan, Canada, Germany, and Asia Pacific.
Report features:
Comprehensive market data: Independent analysis of annual sales and market forecasts (USD million) from 2023 to 2033.
Detailed regional analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa.
Company Profile: Covers major players in the cold storage market, including American Thermal System, Americold, Burris Logistics, Darwin Chambers, FCL Builders, John Swire & Sons, Kloosterboer, KPS Global, Lineage, Nichirei, and more.
Free Updates: Receive 1 year of free report updates to stay on top of the latest market trends.
Answers to key questions:
How is the global cold storage market expected to develop by 2033?
What are the key drivers and constraints impacting the market?
Which market segment will grow the most during the forecast period?
How will the market share of different regions and segments change by 2033?
Who are the key players in the market and what is its future?
Key attributes:
report attributes
detail
Number of pages
84
Forecast period
2023-2033
Estimated market value in 2023 (USD)
$155.2 billion
Projected market value to 2033 (USD)
$776.2 billion
compound annual growth rate
17.5%
Target area
global
Main topics covered:
Market overview
Market trends and drivers
Rising demand for fresh food drives growth in cold storage solutions
Growing interest in food safety expands market opportunities for refrigerated storage
Growth in e-commerce drives adoption of cold storage in grocery stores and food delivery sectors
Innovation in energy-efficient refrigeration systems strengthens business case for cold storage facilities
Rising demand for temperature-controlled pharmaceuticals accelerates increase in cold storage requirements
Growing demand for frozen and processed foods presents opportunities for cold storage companies
Increased investment in automated cold storage solutions drives market expansion
Increasing adoption of cold storage in agriculture sector drives market growth
Surging demand for vaccines and biologics creates new growth opportunities for medical cold storage
Advances in IoT and remote monitoring technology will drive cold storage market towards greater efficiency
Focus on selected players (42 notable players in total):
For more information on this report, please visit https://www.researchandmarkets.com/r/6aopm3.
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