The ‘United States Cold Storage Market Growth, Size, Share, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the United States cold storage market, assessing the market on the basis of its segments like warehouse type, construction type, temperature type, and application.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
United States Cold Storage Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 18 billion
- Forecast CAGR (2023-2028): 4.30%
- Forecast Market Size (2028): USD 23.1 billion
The surging demand for cold storage among various industries like food and beverage and pharmaceutical, among others along with the high existence of a large consumer base is driving the cold storage market in the United States. Strict government rules for the supply and production of temperature-sensitive products like several FDA regulation for cold chain is expected to bolster the market growth of cold storage in the country.
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The development of online grocery sales along with the rise in pharmaceutical requirements is likely to propel the demand for the United States cold storage market. There is a presence of a large consumer base as the remaining cold storage tenants sense the requirement to transform their buildings into more efficient spaces to hold up with consumer needs. This is consequently expected to boost the demand for the cold storage market during the forecast period.
The installation of cold storage aids in the reduction of waste, saves money, and is used for backup during a power outage, acting as extra storage. These aspects are further supporting the demand for cold storage among consumers. Moreover, cold storage has multiple variations as such units consisting of temperature-adjustable modes and are also airtight which shields the product inside from intense temperature changes that occur in the environment.
Furthermore, the moisture is expected to be controlled by employing a dehumidifier to dry out the surroundings as needed and is likely to transform a cold room into a blast freezer. This is further expected to propel the United States cold storage market growth over the upcoming years.
United States Cold Storage Industry Definition and Major Segments
Cold storage is a service that mainly preserves food products that are highly prone to get ruined beneath ordinary conditions and are short-lived. These involve vegetables, fruits, meat, and fish, among others. Such food items are preserved under ideal temperatures which are primarily low, along with a humid environment as needed for every item. Mostly all cold storage areas are built in such a way that the assets are pre-designed on the basis of the product that is to be stored in the confined space.
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Based on warehouse type, the United States cold storage market is divided into:
- Private and Semi-Private
By construction type, the market is segregated into:
- Bulk Storage
- Production Stores
On the basis of temperature type, the market is bifurcated into:
Based on application, the market is categorised into:
- Fruits and Vegetables
- Fish, Meat, and Seafood
- Processed Food
United States Cold Storage Market Trends
The increasing investments in the expansion of the logistics infrastructure along with developing economic growth and rapid urbanisation are expected to fuel the United States cold storage market growth of cold storage over the coming timeframe. The rising demand for innovative developments owing to the outdated nature of current cold storage space and the existence of old infrastructure is likely to boost the cold storage market demand. This is due to the older facilities not being nearly as flexible as newer developments, and residents are gradually looking for less rigid space layouts.
Going further, with the changing living habits of consumers, manufacturers require the skill to switch seamlessly between chilled and frozen refrigerated spaces. Evolving technology in processing, storage, as well as packaging of consumable food items along with temperature-sensitive items are expected to gain momentum in the United States cold storage market in the coming years.
Technology capabilities of newer developments like AI and machine learning are enhancing quality control techniques along with mobile racking becoming more accessible for cold storage use. These aspects are expected to fuel market growth and gain consumer traction. With the rapid changes in food trends and the surging food and beverage industry in the United States, the growth of the cold chain is likely to bolster the market. This is due to the increase in production and ingredients manufacturing in the food and beverage industry.
Key Market Players
The major players in the United States cold storage market report are :
- Americold Logistics LLC
- Agro Merchant Group LLC
- Burris Logistics, Inc.
- Lineage Logistics Holdings, LLC
- United States Cold Storage, Inc.
- Wabash National Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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