The escalating wastage of fruits and vegetables due to the lack of infrastructure in terms of transportation and cold chains is one of the prime factors contributing to the demand for cold stores across the globe. According to United Nation Environment, nearly 50% of all the fruits and vegetable across the globe are wasted every year which includes around 30% of cereals, 20% oil seeds, Meat and Dairy products, 30% for fish, and 40-50% root crops, fruits, and vegetable.
Moreover, the susceptible change in climate and temperature in the regions such as Europe and North America across the globe is resulting in the demand for the colder stores. Also, the growing demand for processed and packaged food with the long shelf life and an enhanced version such as organic packaged food, halal packaged food across the globe is propelling the need for the global cold storage market.
Also, the stringent government regulations regarding the production and supply of perishable products across the globe are resulting in the development of new cold storage. Additionally, the technological advancement in cold storage such as automation, cloud technology, product loading and unloading automation in cold storage is helping the cold storage market to grow.
According to the MarkNtel Advisors’ research report, “Global Cold Storage Market Analysis, 2020”, the global cold storage market is set to grow at a CAGR of around 11.50% during 2020-25 on account of the expansion of food retail outlets and the rise in the food truck concept in the countries due to the growth in the demand for the processed and packaged food. Moreover, increasing cross border trade activities of the fruits, vegetables and other perishable items across the globe is generating the need for the cold storages. Moreover, the government’s support to increase the FDI in the industry is contributing to the growth of the cold storage market.
In 2019, the bulk storage segment dominated the global cold storage market on account of the benefits such as suitability for fresh fruits and vegetables as well as for canned & packaged goods, cooking ingredients and flours, etc. Also, growing food manufacturing and processing facilities across the globe are generating the need for bulk storage. Moreover, the frozen segment dominated the cold storage market in 2019 owing to the increasing trend of processed and packaged food due to the busy and hectic lifestyle of consumers and ease of cooking.
In 2019, the public warehouse dominated the global cold storage market on account of increasing the government’s support and investment for the cold storage. For instance, the government of India announced to invest around USD 2.95 billion to upgrading and setting up new cold storage in the country during 2019-2013. Moreover, the government of Mexico has changed the custom regulation which is expected to drive the cold storage market, as revealed by MarkNtel Advisors, in its report on “Global Cold Storage Market Analysis, 2020”
According to MarkNtel Advisors, the leading players operating the industry are Agro Merchants Group, Cloverleaf Cold Storage, Wabash National Corporation, Americold Logistics LLC, etc. The companies are adopting strategies such as technological advancement, tie-ups with retail stores, mergers, and acquisition for the geographical and product portfolio expansion. For instance, Barloworld Logistics announced to launch a 22000 square ft, new cold storage facility in UAE in 2019. Moreover, “Burris logistics” launched a 25000 square foot public refrigerated warehouse in Georgia in 2018.
“Global Cold Storage Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for cold storage service providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Construction Type (Bulk Storage, Production Stores, Ports)
2. By Temperature (Chilled, Frozen)
3. By Application (Processed Food, Fruits & Vegetables, Dairy, Fish, meat & Sea food, Pharmaceutical)
4. By Warehouse Type (Public, Private & Semi-Private)
5. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
6. By Country (The United States, Canada, Mexico, Brazil, Germany, The U.K, France, Italy, Saudi Arabia, UAE, Qatar, Turkey, South Africa, China, India, Japan, South Korea)
7. By Competitors (Barloworld Limited, Cloverleaf Cold Storage, Agro Merchants Group, Burris Logistics, Americold Logistics LLC, Others)
Key questions answered in the study
1. What are the current and future trends of the global cold storage market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global cold storage industry?
6. What are the customer orientation, purchase behavior, and expectations from the cold storage service provider across various regions?