The Global Refrigerated Warehousing Market was worth US$ xx million in 2022, and it is foreseen that it will reach a valuation of US$ xx million, rising at an annual development rate (CAGR) of xx% between 2023 and 2028.
Warehouses are commercial buildings that are used mainly by importers, manufacturers, customs, exporters, carriers, wholesalers, etc. to store goods. It is a large flat building, generally located in an industrial area of the city. Refrigerated warehouses are considered one of the services to optimally manage cold chains when storing and transporting these products. Refrigerated warehouses are a special type of warehouse. Perishable goods and merchandise are stored at certain temperatures (mainly sub-zero temperatures). Most of these cold stores operate year-round, even without staff. Refrigerated warehouses are widely used to store perishable goods such as fruits and vegetables, meat, and frozen packaged foods, extending shelf life and preserving product quality and freshness. Refrigerated warehouses are used to store perishable products that can die under normal conditions. Additionally, refrigerated warehouses eliminate the risk of germination and insect damage. These warehouses are connected with logistics such as reefer containers and reefer containers to transport goods to different locations. Also, market demand for refrigerated warehouses has exploded in recent years as trade in perishable goods has increased.
The growing demand for frozen foods in developed and some emerging nations is a major driver of the global refrigerated warehousing market growth.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
xx% |
Segments Covered |
By Technology, Temperature, Application and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Nichirei Logistics Group, Trenton Cold Storage, VersaCold Logistics Services, A.B. Oxford, Nordic Logistics & Warehousing, Kloosterboer, Conestoga Cold Storage, Partner Logistics, Burris Logistics, Cloverleaf Cold Storage, Hanson Logistics, Congebec, Interstate Cold Storage, Snowman Logistics, Henningsen Cold Storage and Others. |
The technological advancements in storage equipment, increased awareness of personal health, high demand for professional refrigeration for meats, seafood, and various perishable products are other factors supposed to help the growth of the global refrigerated warehousing market. The most important aspect of the growing demand and popularity of refrigerated warehouses is the increasing demand and demand for perishable food products such as fruits, poultry, dairy, and meat products. With the increasing demand and popularity of frozen foods these days, the need for refrigerated warehouses is rising. In addition, as the number of supermarkets and hypermarkets in the Asia Pacific region increases, the use of perishable foods has increased significantly, increasing the call for refrigerated warehouses. Additionally, more and more food and beverage companies are manufacturing perishable and frozen foods. As the shelf life of these food products increases due to the introduction of cold storage systems, there is a growing demand for the refrigerated warehousing market. The increase in the consumption of perishable items is mainly driving the market for these warehouses. In addition, the increasing demand for refrigerated warehousing for the expansion of the e-commerce industry and the rise of supermarkets are driving the market demand for this warehousing. Besides, research and development activities are spreading market growth as technological advancements and investments increase. Additionally, the growth of perishable food manufacturers is driving the global refrigerated warehousing market.
Technological advancements in automatic processing, inventory tracking, and real-time temperature tracking, combined with diversification initiatives like freight transport, have further increased competition in the global refrigerated warehousing market. Factors such as rapid urbanization, along with rising disposable income and growing consumer demand for perishable foods, are expected to drive the refrigerated warehousing business in the region. The growing demand for frozen foods in developed and some developing countries is a major driver of the global refrigerated warehousing market growth. Transportation has also been a major growth engine as market innovations such as merchandise tracking have increased. An important and emerging trend in the global cold storage market is the automation of equipment, especially forklifts, hydraulic stackers and pallet trucks used in refrigerated warehousing. This is another factor that is expected to greatly accelerate the growth of the global Refrigerated Warehousing market.
The high costs associated with refrigerated warehouses, especially when a certain temperature is maintained and warehouses operating throughout the year, are a key factor slowing the growth of the global refrigerated warehouse industry. Furthermore, the presence of many players in the market intensifies competition between them, which is another major factor that is estimated to hamper the growth of the global refrigerated warehousing market during the outlook period.
Based on technology, the global Refrigerated warehousing market can be divided into evaporative cooling, flash freezing, vapor compression and PLC. Quick freezing is the most versatile method of freezing meat, fruits, seafood, and vegetables. This technology increases control and protection against bacteria, preserves nutrients in food, and is one of the most cost-effective ways to store food for long periods of time.
The market for refrigerated warehouses is segmented based on the temperature into refrigerated and frozen. The refrigeration sector held a larger market share due to growing demand for perishable food products such as meat, fish and shellfish that require freezing temperatures for storage. There is a growing need for frozen foods, especially in North America.
By application, the refrigerated warehouse market is segmented into bakery and confectionery, fruits and vegetables, meats, seafood, milk and dairy products and beverages. The fruits and vegetables segment had the largest share in 2020. This is due to increased health awareness and higher incomes among consumers, leading to increased consumption of various frozen and refrigerated products, especially fruits and vegetables. In North America and Europe, health problems are growing the need for fruits and vegetables, as consumers prefer healthier and more nutritious options in their diet.
The new coronavirus outbreak has had a major impact on the global refrigerated warehousing market. Additionally, consumers are beginning to look for fresh food rather than canned food to maintain proper health during the pandemic. However, many things in cold chain logistics are expected to change after the pandemic. As food consumption slows, the need for inventories increases. This, in turn, will increase the market demand for refrigerated warehouses. Also, lockdown measures have boosted the e-commerce industry market. As the e-commerce industry expands, the need for cold storage infrastructure will increase. Also, the coronavirus pandemic has disrupted the global food chain supply. Its impact on the food system, especially in China, has caused a loss of the Refrigerated warehousing market demand. The food and beverages industry are also facing many challenges majorly due to implementation of lockdown and restrictions on transportation. Social distancing and home maintenance orders are further closing restaurants and food chains, negatively impacting the Refrigerated warehousing market.
North America is foreseen to dominate the global refrigerated warehousing market. This can be recognized by the growing trend of perishable foods like fruits and the great demand and popularity of the pharmaceutical sector. Western Europe is also experiencing rapid growth in the refrigerated warehousing market. Asia Pacific is expected to be the fastest growing market. This can be recognized as an increase in disposable income, with increasing criteria for food selection, for example, in countries such as China and India. The Middle East, Africa and Latin America are estimated to grow at a significant rate of expansion in the future as living standards rise and the demand for perishable food increases. Japan is expected to occupy a significant market share due to the huge demand and popularity of refrigerated warehouses, especially in the pharmaceutical sector.
Key Players in the Market:
Major Key Players in the Global Refrigerated Warehousing Market are
Frequently Asked Questions
By 2028, it is predicted that the global Refrigerated Warehousing market can reach a valuation of US$ xx million.
The global Refrigerated Warehousing market can expand with a CAGR of xx% during the forecast period.
Nichirei Logistics Group, Trenton Cold Storage, VersaCold Logistics Services, A.B. Oxford, Nordic Logistics & Warehousing, Kloosterboer, Conestoga Cold Storage, Partner Logistics and Others.
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