Refrigerated Warehousing Market Size, Global Industry Analysis Report, Regional Outlook, Trend, Competitive Market Share & Forecast, 2021 – 2027

Report ID: GMI4933

Summary Methodology

Refrigerated Warehousing Market size is set to capture substantial gain through 2027 due to growing demand from the pharmaceutical and frozen foods industry. The emergence of several diseases and health crisis, such as COVID-19 pandemic, are creating a huge demand for refrigerated storage of vaccines and other medicines. These medicines need to be stored in cold temperatures throughout their delivery cycle to ensure preservation and quality. Market players are leveraging this opportunity to enhance their portfolio of refrigerated warehousing systems and increase their revenues. For instance, in September 2020, Kool-ex partnered with IndoSpace to develop temperature-controlled warehouses in India to fulfil the need of providing cold storage facilities for COVID-19 vaccines.

The growing trend of consumption of packaged food in several countries globally is likely to drive the refrigerated warehousing market demand. Busy lifestyles and hectic work schedules have led to a rapid increase in the consumption of ready-to-eat meals bought from supermarkets and local retailers.

Increasing adoption of refrigerated warehousing systems by major food & beverage industry players, such as Nestle, PepsiCo, and Tyson Foods, to preserve their products will positively impact the industry. According to a 2019 report published by the Economic Research Service of the U.S. Department of Agriculture, over 60% of potatoes and 40% of fruits were consumed by the citizens of the U.S. in frozen form. The statistics also report a 3.2% increase in consumption of frozen food across the U.S. in 2019 compared to 2018.

Factors, such as high energy consumption and infrastructural cost required for setting up refrigerated warehousing systems, will hamper the market growth. Refrigerated warehouses require special equipment and infrastructural facilities to maintain a consistently cold temperature. Components, such as evaporators and compressors, integrated with refrigeration systems consume high amount of electricity for providing consistently cold temperature. High energy bills associated with the operation of refrigeration systems will hinder the growth of the refrigerated warehousing market.

Increasing investments by government authorities in the development of sustainable cold chain infrastructure are supporting the refrigerated warehousing market expansion. For instance, in September 2020, the Government of India announced its plans to invest approximately over USD 100 million in the development of 27 new cold storage facilities. The investment is aimed at strengthening the food industry and food processing sector across the country.

The positive outlook of the food retailing sector and growing urbanization in Asia Pacific region will create more refrigerated warehousing market growth opportunities. The increasing demand for frozen food in China, Japan, India, and Australia is also contributing to the market revenue. Moreover, the cold storage logistics sector is showing exponential growth in the Asia Pacific owing to growing opportunities for drug and vaccine imports and exports.

The blast freezing segment is poised to experience a high demand during 2021 to 2027. The ability of blast freezing technology to preserve meat, fruits, vegetables, and seafood without compromising their quality will propel the segment growth. The increasing usage of blast freezing techniques by hotels and restaurants to store a large inventory of raw food items is improving the overall market statistics. For instance, in September 2020, AGRO Merchants Group (part of Americold) expanded its blast freezing capabilities in the UK. This additional development can freeze 26 tonnes of food products per cycle.

The frozen segment is estimated to fuel the refrigerated warehousing market revenue through 2027. The increasing demand for preserving perishable food items, such as meat & seafood, requires frozen temperature for storage. Logistics and freight forwarding companies across the globe are investing in development of cold storage facilities driving the market trends. For instance, in April 2020, Maersk opened its cold storage facilities in Russia. These facilities will provide specialized cold storage solutions for extending the life cycle of perishable goods.

The fruits & vegetables application is anticipated to hold a significant market share till 2027. Rising disposable income and growing health awareness in consumers will propel the demand for frozen and canned fruits and vegetables globally. The increasing usage of frozen fruits and vegetables in the restaurant industry in North America will increase the demand for refrigerated warehouses.

Asia Pacific displays a high growth potential in the refrigerated warehouses market through 2027 driven by increasing population and rising import and exports of drugs and vaccines. Increasing investments by domestic players in cold storage facilities for storage of COVID-19 vaccines will also contribute to the industry growth. In November 2020, Thermo King launched cold storage solutions for COVID vaccines in India.

Some of the key refrigerated warehouses market players include Americold, Lineage Logistics, Nichirei Logistics, and Burris Logistics among others. The companies are focusing on developing cold storages, which are suitable for perishable goods with the use of various advanced technologies such as PLC and RFID. The industry players are working on merger and acquisition strategies to expand their foothold in the region. In December 2020, Amercold acquired Agro Merchants Group to expand its business operations. Through this acquisition, the company acquired 46 new facilities in 10 countries.  

The refrigerated warehousing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:

Market, By Technology

  • Programmable logic controller (PLC)
  • Radio frequency identification (RFID)
  • Vapor compression system (VCS)
  • Blast freezing
  • Evaporative cooling

Market, By Temperature

  • Frozen
  • Chilled

Market, By Application

  • Fruits & vegetables
  • Milk & dairy products
  • Pharmaceutical
  • Beverages
  • Bakery products
  • Meat & seafood

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa



What Information does this report contain?

Historical data coverage: 2016 to 2020; Growth Projections: 2021 to 2027.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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