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.
Refrigerated warehousing is essential for preserving the freshness and quality of fish, meat, and seafood products. These products are highly perishable and can spoil quickly at higher temperatures. Hence, the Fish, Meat, & Seafood segment would capture approximately 1/4th share of the Food & Beverages type market by 2030. Cold storage facilities maintain the desired temperature and humidity levels to slow down bacterial growth, enzymatic activity, and oxidation, thereby extending the shelf life of the products. The fish, meat, and seafood industry often involve international trade. Refrigerated warehousing near ports is crucial for the efficient import and export of products. These facilities help maintain the cold chain during transit, ensuring that products reach their destination in optimal condition. Some of the factors impacting the market are increasing adoption in numerous food and beverage industries, rising automation in the refrigerated warehouse, and high operating expenses and capital expenditures.
Consumers have an increasing preference for fresh and minimally processed food products. In order to meet this demand, food and beverage companies are investing in refrigerated warehousing to keep the freshness and quality of their products from production to consumption. The need for refrigerated storage facilities has grown as the global food supply chain becomes more interconnected. These facilities enable companies to import and export perishable goods while preserving quality. These facilities are essential for storing and distributing fresh and frozen products to meet the needs of online retailers and food delivery services. These facilities play a vital role in maintaining the safety and quality of temperature-sensitive products in a dynamic and competitive industry. Additionally, the increasing automation in refrigerated warehouses has the potential to grow the market significantly. Automation brings numerous highly attractive advantages to businesses operating in this sector. Automation in refrigerated warehousing streamlines operations and reduces the reliance on manual labour. Automated systems, including advanced warehouse management software, enable precise inventory tracking. This leads to reduced stockouts, minimized product losses due to expiration, and better control over inventory levels. These benefits make it likely that the trend toward increasing automation will continue to drive growth of the market.
However, refrigerated warehousing facilities require substantial amounts of energy to maintain temperature-controlled environments. Electricity and refrigerants can be a significant portion of operating expenses, especially for large facilities. Implementing energy-efficient technologies and practices is essential to reduce operating costs. However, upgrading or retrofitting existing facilities with energy-efficient systems can involve substantial upfront capital expenditures. Maintenance costs can be high, and unexpected breakdowns can result in additional expenses. Overall, the high operating expenses and capital expenditures are challenges in the market, which will decline the market growth in the future.
Based on temperature range, the market is fragmented into chilled (0°C to 15°C), frozen (-18°C to -25°C), and deep-frozen (Below -25°C). The chilled (0°C to 15°C) segment garnered a significant revenue share in the market in 2022. Chilled temperature storage is a critical component of the market, serving a wide range of industries and ensuring the availability of fresh and high-quality products for consumers. As global supply chains evolve and consumer demand for freshness and convenience persists, the need for chilled storage solutions will remain strong.
On the basis of type, the market is segmented into private & semi-private and public. In 2022, the public segment dominated the market with the maximum revenue share. Public refrigerated warehouses are owned and operated by the government or third-party logistics (3PL) companies. Public warehouses handle goods on behalf of their client companies. Public warehouses are more adaptable, cost-effective, and convenient. Public warehouses are witnessing significant growth as they are more cost-effective, and many provide value-added services such as assembling and quality control, which helps businesses focus on their core expertise.
By application, the market is categorized into food & beverages, pharmaceuticals, and others. In 2022, the food & beverages segment registered the highest revenue share in the market. Food & beverage goods need controlled temperature environments to remain fresh and avoid contamination. Moreover, the growth in online food delivery, boosted by the COVID-19 pandemic, is driving the need for more refrigerated space for food & beverage products. According to the Food and Agricultural Organization (FAO), 30 to 40 percent of food produced is lost before it reaches the market due to a lack of proper processing, storage, and transport. Hence, growth in online food delivery and the need to reduce food wastage drive the segment's growth.
Under food & beverages type, the market is further divided into fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat & seafood, processed food, bakery & confectionery, and others. The dairy products segment covered a considerable revenue share in the market in 2022. Dairy products include many items, such as milk, cheese, butter, yogurt, and various dairy-based desserts. Refrigerated warehousing facilities are crucial for managing the cold chain of dairy products. They help maintain consistent temperatures from when the products leave the dairy processing plant to arrival at retail outlets or distribution centers. Dairy products undergo rigorous quality control measures both at the processing plant and during storage in refrigerated warehouses.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 84.3 Billion |
| Market size forecast in 2030 | USD 281.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 16.5% from 2023 to 2030 |
| Number of Pages | 360 |
| Number of Table | 560 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Temperature Range, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating maximum revenue share in the market in 2022. The market's growth in the region can be attributed to some of the most prominent market players, such as U.S.-based Lineage Logistics Holding, LLC, and Canada-based Conestoga Cold Storage. Moreover, developed technological infrastructure and adoption automation among the region's companies drive the region's growth. For instance, U.S.-based Americold Logistics, Inc. uses robotics and automation at its warehouses. Moreover, government initiatives to develop temperature-controlled facilities significantly boost the market.
Free Valuable Insights: Global Refrigerated Warehousing Market size to reach USD 281.8 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include 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 Application
By Temperature Range
By Type
By Geography
This Market size is expected to reach $281.8 billion by 2030.
Increasing adoption in numerous food and beverage industries are driving the Market in coming years, however, High operating expenses and capital expenditures restraints the growth of the Market.
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.
The Private & Semi-Private segment has shown the high growth rate of 17.1% during (2023 - 2030).
The Frozen (-18°C to -25°C) segment is leading the Market, By Temperature Range in 2022 thereby achieving a market value of $170.9 billion by 2030.
The North America region dominated the 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.
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