The global refrigerated warehousing market was valued at $129.80 billion in 2021, and is projected to reach $412.90 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031.
Refrigerated warehousing also referred as cold storage, refers to a system which is utilized to store goods which need to be in optimal temperature to retain their freshness. A refrigerated warehouse works on a refrigeration system which aids in maintaining an adequate temperature and environment as per the specifications of each item being stored. In addition, main components of a cold storage room or refrigerated warehouse comprises compressor, condenser receiver, expansion valve, evaporator, and blowers. Moreover, apart from food, refrigerated warehousing is required for blood samples, camera film, beverages, and others.
The global refrigerated warehousing market is witnessing growth, due to increasing demand for perishable goods, and increase in refrigerated warehouse. However, high operational cost is the factor hampering the growth of the market. Furthermore, adoption of technologies by refrigerated warehousing industry is the factor expected to offer growth opportunities during the forecast period.
The refrigerated warehousing market is segmented on the basis of ownership, temperature, application, and region. By ownership, it is segmented into public, and private & semi-private. By temperature, it is classified into chilled, and frozen. By application, it is fragmented into fruits & vegetables, bakery & confectionery, dairy & frozen desserts, meat & sea food, drugs & pharmaceuticals, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the refrigerated warehousing market report comprises AGRO Merchants Group, LLC, AmeriCold Logistics LLC, Burris Logistics, China Vanke Co. Ltd (VX Logistics), Confederation Freezers, Congebec Logistics Inc., Frialsa Frigoríficos, S.A. de C.V., Lineage Logistics Holding, LLC, NewCold Advanced Cold Logistics, Nichirei Corporation, Nor-Am Cold Storage, Inc., Tippmann Group, Trenton Cold Storage Inc., United States Cold Storage, and XPO Logistics Inc.
Increase in demand for perishable goods
Refrigerated warehouses are designed to protect perishable products from external temperature variation. Consumers are becoming aware of the importance of health and wellness. They are also aware about the impact that food components, especially protein, have on the growth and development of the human body. This has resulted in shift in perishable food consumption patterns such as fruits, vegetables, and other protein-based products.
In addition, emerging economies are witnessing a high demand for perishable products owing to rapid urbanization, changing taste & preferences of consumers in these countries. The market potential for processed and frozen food products is also high in these countries owing to their lower adoption rates. The consumption of ready-to-eat meals such as frozen pizzas, and snacks is surge in steadily in these countries, which in turn is increasing the demand for perishable goods. Thus, increase in demand for perishable goods is driving the growth of the refrigerated warehousing industry during the forecast period.
Increase in refrigerated warehouse
A lot of warehouses comprising refrigerated systems are designed to ensure the ideal storage and transportation conditions for temperature-sensitive products. Multiple export industries are dependent on the vital links that the refrigerated solution systems provide. Businesses invest billions of dollars in their cold chain operations to create effective, efficient, and reliable processes because end-to-end cold chain security is the weak link in the system. Single breakdown in the cold chain logistics chain can lead to catastrophic losses of products and capital. For instance, in September 2021, Pasarnow e-commerce company raised funding worth $3.3 billion for the up-gradation of its fragmented and inefficient supply chain, which includes temperature controlled warehouses and others that increase the productivity of the company. Thus, an increase in refrigerated warehouses is expected to fuel the growth of the refrigerated warehousing market during the forecast period.
The refrigerated warehousing market is segmented into Ownership, Temperature and Application.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the refrigerated warehousing market analysis from 2021 to 2031 to identify the prevailing refrigerated warehousing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the refrigerated warehousing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global refrigerated warehousing market trends, key players, market segments, application areas, and market growth strategies.
Refrigerated Warehousing Market Report Highlights
| Aspects | Details |
 By Ownership |
|
 By Temperature |
|
 By Application |
|
 By Region |
|
 Key Market Players | NewCold Advanced Cold Logistics, Frialsa Frigoríficos, S.A. de C.V., Congebec Logistics Inc., AmeriCold Logistics LLC, VX Cold Chain Logistics, Nor-Am Cold Storage, Inc., Trenton Cold Storage Inc, AGRO Merchants Group, LLC, Confederation Freezers, Interstate Warehousing, Inc., Nichirei Logistics Group Inc., United States Cold Storage, Inc., Burris Logistics, XPO Logistics, Inc., Lineage Logistics Holding, LLC |
Analyst Review
The global refrigerated warehousing market is expected to witness significant growth owing to increasing demand for perishable goods, and increase in refrigerated warehouse.
In refrigerated warehouses, several new technologies have been introduced for easy storage & retrieval of goods. For instance, Automated Storage and Retrieval System (ASRS) unit load cranes are used to store & retrieve goods from the inventory. ASRS are engineered to handle unitized loads in and out of high-density storage. In addition, pallet shuttles uses a cart system to transport pallets quickly through deep-lane storage units. These carts make it possible to store, retrieve and manage products quickly & efficiently. Moreover, mini-load shuttle are utilized to store & retrieve small items in less space & time, and include lightweight alloys that increase speed.
Furthermore, Internet of Things (IoT) helps in providing sophisticated temperature tracking and monitoring solutions. IoT provides live data that allows unmatched visibility into every process and transaction within the refrigerated warehousing. For instance, in 2022, Fresh Factory- a cold-chain logistics company in Indonesia adopted a warehouse management system (WMS) that tracks the goods precisely when products are entered and left. In addition, it uses a fulfilment management system (FMS) that provides inventory-related information such as how much quantity is left at each point of sale. Therefore, adoption of technologies by refrigerated warehousing industry is the factor, expected to offer lucrative opportunities for the market during the forecast period.
The global refrigerated warehousing market was valued at $129.8 billion in 2021 and is projected to reach $412.9 billion in 2031.
Asia-Pacific is the largest regional market for refrigerated warehousing.
Meat & sea food is the leading application of refrigerated warehousing Market.
Some leading companies in the refrigerated warehousing market include AGRO Merchants Group, LLC, AmeriCold Logistics LLC, Burris Logistics, China Vanke Co. Ltd (VX Logistics), Confederation Freezers, and Congebec Logistics Inc. among others.
The upcoming trends in the refrigerated warehousing market include greater demand from drugs & pharmaceutical sector and integration of advanced technologies for warehouse automation.
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