North America Cold Storage Market Size, Share and Growth Forecast by Regions 2022-2028

Posted on 2022-11-21 by researchinsights in Transportation & Logistics // 0 Comments

San Francisco, California , USA, Nov 21, 2022 — /EPR Network/ —

North America Cold Storage Industry Overview

The North America Cold Storage Market size is expected to reach USD 86.48 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. Technological advancements in cold storage warehouses are stimulating the growth of the market. Increasing automation is changing the conventional warehouse operations, enabling companies to maximize their output. Growing penetration of robotics applications, automated material handling equipment, and high-speed conveyor systems help in achieving the order accuracy.

Rising awareness concerning the low ozone depletion potential (ODP) and low global warming potential (GWP) refrigerants to tackle environmental and social facets along with increasing demand for energy-efficient natural refrigerants are the key factors driving the market. Inorganic refrigerants such as ammonia, CO₂, and hydrocarbon-based refrigerants are the most popular natural refrigerants that are being increasingly preferred by end users for their energy efficiency, low cost, and low GDP & ODP.

High running costs, capital investment, and scalability of different picking methods are the key factors restraining the market over the projected period. Additionally, advanced automation, software system, and high-tech advancements in tracking systems and warehousing have led to high requirements for skilled labor. Dearth of skilled labor can restrict the market from realizing its utmost potential.

North America Cold Storage Market Segmentation

Grand View Research has segmented the North America Cold Storage Market on the basis of warehouse type, temperature type, construction type, application, and region

Based on the Warehouse Type Insights, the market is segmented into Private & semi-private and Public.

The public warehouse segment led the market and accounted for more than 76% share of the regional revenue in 2020. It is anticipated to continue its dominance throughout the forecast period.
Private warehouses offer several benefits such as the ability to make independent decisions about the overall activities and priorities of the warehouse and managing the cost and flexibility of business.

Based on the Temperature Type Insights, the market is segmented into Chilled and Frozen.

The frozen segment led the market and accounted for more than 81% share of the regional revenue in 2020. Increasing awareness of hygiene and convenience, which is shifting consumer preferences toward ready-to-eat and cook meals, is supplementing the growth of the frozen product segment.

Based on the Construction Type Insights, the market is segmented into Bulk storage, Production stores and Ports.

The production stores segment led the market and accounted for more than 49% share of the regional revenue in 2020.
The bulk storage segment is estimated to register healthy growth during the forecast period. The growth of the segment is attributed to its suitability and preference for storing fruits, vegetables, flour, cooking ingredients, and canned goods for a long time without any spoilage.

Based on the Application Insights, the market is segmented into Fruits & vegetables, Dairy, Fish, meat & seafood, Processed food and Pharmaceuticals.

The fish, meat and seafood segment led the market and accounted for more than 36% share of the regional revenue in 2020.
The processed food segment is expected to exhibit the highest CAGR over the forecast period owing to continuous innovations in packaging materials. Advancements in packaging materials increase the shelf life of the food, which has increased the trading of processed foods over the past years.

Key Companies Profile

Cold storage operators are constantly upgrading their technology to stay ahead in the competition and ensure efficiency, integrity, and safety. Despite high initial investments for automating warehouses, factors such as reduced labor and operational costs, improved productivity, fewer warehouses’ accidents, and improved order accuracy help in decreasing the overall cost.

Some prominent players in the North America Cold Storage market include

Americold Logistics LLC
Burris Logistics, Inc.
Cloverleaf Cold Storage Company
Lineage Logistics
VersaCold Logistics Services
Henningsen Cold Storage Company

Order a free sample PDF of the North America Cold Storage Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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