Published Date: 3-Nov-2023
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According to a new report, published by KBV research, The Global Refrigerated Warehousing Market size is expected to reach $281.8 billion by 2030, rising at a market growth of 16.5 % CAGR during the forecast period.
The Pharmaceuticals segment is showcasing a CAGR of 17.2% during (2023 - 2030). Pharmaceutical cold storage is complicated due to strict regulations and tight temperature tolerances. Hence, companies in the pharmaceutical business need to ensure compliance by maintaining the quality and shelf life of pharmaceutical products. Companies such as India-based Jam Jams Group and U.K.-based Alloga offer temperature-controlled warehouses for the pharmaceutical industry. Moreover, the pharmaceutical sector incurs vast losses due to temperature-control failures across the supply chain. The need to comply with strict regulations is driving the segment's growth.
The Frozen (-18°C to -25°C) segment is leading the Global Refrigerated Warehousing Market, By Temperature Range in 2022 thereby achieving a market value of $170.9 billion by 2030. Temperature-sensitive goods such as poultry, beef, pork, and bakery & confectionary products must be kept at frozen temperatures to preserve quality. According to the American Frozen Food Institute (AFFI), 2022 frozen food sales in the U.S. reached USD 72.2 billion, growing by 8.6% from 2021. Consumers are shifting to frozen foods due to their more significant shelf life than fresh foods, reducing food wastage. The rising consumption of frozen food is driving the growth of the frozen (-18°C to -25°C) segment.
The Private & Semi-Private segment has shown the high growth rate of 17.1% during (2023 - 2030). Private & semi-private warehouses are owned and operated by manufacturers, distributors, and wholesalers. These warehouses require significant investment in the construction and maintenance of the facility. Hence, they are more suitable for large corporations than small and medium-sized enterprises (SMEs). Private & semi-private temperature-controlled warehouses offer benefits such as greater control over warehouse operations and inventory for businesses, driving segment growth.
The North America region dominated the Global Refrigerated Warehousing Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $92 billion by 2030. The Europe market is anticipated to grow at a CAGR of 16.1% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 17.3% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Lineage Logistics Holdings, LLC, Americold Realty Trust, Inc, Burris Logistics, Tippmann Group, Nichirei Corporation, Conestoga Cold Storage, NewCold Cooperatief UA, United States Cold Storage, Inc. (Swire Pacific Limited), FreezPak Logistics and Confederation Freezers.
By Temperature Range
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