NEW YORK, Feb. 21, 2024 /PRNewswire/ — Global Cold Storage Market is set to achieve a remarkable Compound Annual Growth Rate (CAGR) of 13.83% from 2024 to 2028. The market’s trajectory is forecasted to witness a significant upswing, reaching a valuation of USD 145.71 billion during this period. The growing emphasis on minimizing food wastage is a pivotal factor propelling market expansion. Food wastage poses a significant global challenge, largely stemming from inadequate freezing storage capabilities. Additionally, perishable food items often traverse fluctuating temperatures along the supply chain, resulting in spoilage and waste. With the global population poised for steady growth, there’s a corresponding surge in food demand and heightened focus on waste reduction. This necessitates enhanced storage solutions worldwide. Cold warehousing emerges as a crucial tool in addressing food insecurity, providing a stable environment for food products throughout the supply chain. Consequently, heightened awareness regarding waste reduction is set to drive demand for cold warehousing facilities, catalyzing market growth in the forecast period. For a comprehensive understanding of the regional impact on market growth, access our free sample report
|
Report Coverage |
Details |
|
Page number |
166 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 13.83% |
|
Market Growth 2024-2028 |
USD 145.71 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
15.11 |
|
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 52% |
|
Key countries |
US, China, India, Japan, and UK |
The growth of the APAC market is expected due to the widespread presence of suppliers and consumers in both the food and healthcare product industries.
Some of the leading companies such as Americold Realty Trust Inc., Beijing Howcool Refrigeration Technology Co. Ltd., Changzhou Yuyan Refrigeration Equipment Co. Ltd., Burris Logistics Co., and others are implementing diverse strategies to enhance their market presence. The report includes a detailed analysis of the competitive landscape, providing information about 20 companies in the market.
For the Global Cold Storage Market, segmentation is done based on Application, Type and Region.
- Application Outlook: Meat and Seafood, Fruits and Vegetables, Bakery and Confectionery, Dairy and Frozen Products, and Others
- Type Outlook: Private, Semi-private, and Public
- Regional Analysis: APAC region is set to contribute 52% to the global market’s growth
Additionally, Japan and China exhibit a significant demand owing to increased disposable income and a growing geriatric population. The region experiences heightened expenditure on healthcare, driving demand for temperature-controlled products like biopharmaceuticals and vaccines. Download our PDF sample for additional insights on regions.
Related Reports:
The frozen food cold chains market size is estimated to grow at a CAGR of 17.36% between 2022 and 2027. The market size is forecast to increase by USD 214.02 billion.
The cold chain logistics market share in the UK is expected to increase by USD 9.17 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.22%.
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Competitive Landscape
Companies Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
