Cold Storage Market to Grow by USD 260.4 Billion (2025-2029), Rising Awareness of Food Waste Reduction Boosting the Market, with AI Redefining Market Landscape - Technavio

NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global cold storage market size is estimated to grow by USD 260.4 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 19.3% during the forecast period. Rising awareness about reducing wastage of food is driving market growth, with a trend towards use of fuel cell-based forklifts in refrigerated warehousing. However, seasonal demand for refrigerated products poses a challenge. Key market players include Americold Realty Trust Inc., Beijing Howcool Refrigeration Technology Co. Ltd., Burris Logistics Co., Changzhou Yuyan Refrigeration Equipment Co. Ltd., Coldman Logistics Pvt. Ltd., Commercial Cold Storage Group Ltd., Congebec Logistics Inc., Falcon Refrigeration Industry, Holt Logistics Corp., Indicold Private Limited, Interstate Cold Storage Inc., John Swire and Sons Ltd., Lineage Inc, NewCold Cooperatief UA, Nichirei Corp., Nor AM Cold Storage Inc., RSA Global DWC LLC, snowman logistics ltd, Stellar, and VersaCold Logistics Services.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

Cold storage market is witnessing significant trends due to stricter regulations in the organized retail sector. Technology advancements like cloud technology, conveyor belts, robots, and energy management systems are improving operational efficiency. Truck-loading automation and low-carbon designs are reducing carbon footprint. Perishable product trade is driving the demand for cold storage facilities, especially for pharmaceutical items and food products. Leading players are focusing on regulatory environment, refrigerant usage, and hybrid cooling systems. Temperature range preferences include chilled, frozen, and deep-frozen for various products like eggs, dairy, dry fruits, dehydrated foods, and food and beverages. Warehouse managers use connected devices for monitoring and optimizing storage facilities. Preferred Freeze, RSA Logistics, and Nova Cold Logistics are key players. The dairy segment and food industry are major consumers, with refrigerated warehouses and transport essential for fresh liquid milk, cheese, butter, whole milk powder, and cryogenic slurry. The Chinese government's focus on population expansion and reducing excessive food waste is increasing demand for storage facilities. Investors like Bitpanda and Bitpanda Wealth, family offices, and corporate treasuries are exploring opportunities in this sector. Greenfield facilities and AI models are future growth areas, along with data assets and infrastructures. 

Fuel cell technology is revolutionizing the cold storage market with its application in forklifts. These forklifts utilize hydrogen in an electrochemical reaction to generate energy, producing electricity, heat, and water as byproducts. This technology offers a significant advantage over battery-powered forklifts, particularly in cold storage environments. While a battery-powered forklift can operate for 7-9 hours when fully charged, its functionality declines by 40-60% in cold temperatures. In contrast, fuel cell-based forklifts can operate efficiently even in temperatures as low as -30 degrees Celsius. This technology's reliability and consistency make it an attractive option for businesses operating in cold storage facilities. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

• The cold storage market faces several challenges. Strict regulations require adherence to specific standards for food safety and energy efficiency. Organized retail sectors demand efficient and automated cold storage solutions, leading to the adoption of technologies like conveyor belts, robots, and energy management systems. Perishable product trade necessitates low-carbon designs and environmental auditing. Initial investment in cold storage facilities can be high, but energy-efficient infrastructure, refrigeration systems, and insulation help offset costs. Leading players like RSA Logistics and Nova Cold Logistics compete in the market, with a regulatory environment that favors the dairy segment for products like milk, cheese, butter, and whole milk powder. Temperature range varies from chilled to deep-frozen, serving industries like pharmaceuticals, eggs, dairy, fruits and vegetables, and meat production. Cold rooms and public warehouses are common facilities, with temperature ranges from 0°C to -25°C. Cold storage solutions are essential for preventing food waste and spoilage, especially in population-dense countries like China due to excessive food waste. Innovations like hybrid cooling systems, AI models, and connected devices are shaping the future of the market. Investors like Bitpanda and its wealth platform, family offices, and corporate treasuries are exploring opportunities in refrigerated warehouses and transport.
• The cold storage market experiences seasonal fluctuations due to the demand for refrigerated products. During warmer seasons, the consumption of ice creams and other perishable items increases, necessitating the use of cold storage facilities. Conversely, during colder seasons, the demand for these facilities decreases. Additionally, the refrigerated storage of fresh produce is dependent on harvest seasons, with high demand and production occurring around October-November each year. These seasonal variations pose a challenge for cold storage solution providers in terms of revenue stability.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This cold storage market report extensively covers market segmentation by

1. Application 
• 1.1 Meat and seafood
• 1.2 Fruits and vegetables
• 1.3 Bakery and confectionery
• 1.4 Dairy and frozen products
• 1.5 Others
2. Type 
• 2.1 Private and semi-private
• 2.2 Public
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Meat and seafood- The meat and seafood segment held the largest share of the global cold storage market in 2024, and it is anticipated to lead the market during the forecast period. The necessity to preserve the quality and nutrition of these perishable foods necessitates refrigeration due to their limited shelf life. Cold chains ensure temperature requirements are met, allowing meat and seafood to maintain their freshness and nutritional value. For instance, fresh seafood requires storage at 32°F (0°C), while frozen seafood needs to be stored at 0.40°F (-18°C) or lower. The increasing consumption of meat, projected to rise by 4 kg (8.8 pounds) per capita from 2015 to 2030, fuels the demand for cold chains. Consumers prefer frozen meat for its convenience, health benefits, and freshness. Popular frozen meats include beef, pork, and mutton. Major meat processors and marketers, such as JBS SA and Tyson Foods Inc., offer frozen meats primarily for export purposes, driving the launch of new frozen food ranges. The rising focus on health and nutrition in the food and beverage industry and the convenience offered by frozen meat are expected to boost the growth of the global cold storage market through the meat and seafood segment during the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The cold storage market is witnessing significant growth due to the increasing demand for perishable product trade and stricter regulations for food safety. Organized retail sectors, including supermarkets and convenience stores, are driving the market's expansion. Advanced technologies like cloud technology, conveyor belts, and robots are being integrated into cold storage facilities for efficient energy management and reduced food waste. The Chinese government's focus on population expansion and reducing excessive food waste is also fueling the market's growth. Low-carbon designs are gaining popularity in the market to minimize the environmental impact. Fish, meat, and various food products are the primary commodities stored in these facilities. Warehouse managers are utilizing battery charging stations and forklift battery replacement systems to ensure uninterrupted operations.

Market Research Overview

The cold storage market is witnessing significant growth due to stricter regulations in the organized retail sector and the increasing trade of perishable products. Cloud technology, conveyor belts, robots, and energy management systems are being adopted for efficient operations. Cold storage facilities are designed with low-carbon structures and undergo regular environmental auditing to reduce carbon footprint. The initial investment for setting up a cold storage facility can be high, but the benefits of temperature-controlled storage for pharmaceutical items, frozen foods, and other perishables outweigh the costs. Refrigeration systems, insulation, and temperature range are crucial factors in cold storage design. Facilities offer various services such as cold rooms, public warehouses, and refrigerated transport for chilled, frozen, and deep-frozen products. Warehouse managers oversee the handling of perishables like eggs, dairy products, dry fruits, and dehydrated foods, ensuring minimal food waste and spoilage. Governments, including China, are investing in cold storage infrastructure to address population expansion and excessive food waste. The market is segmented into private and public sectors, with leading players focusing on innovation in refrigerant usage, hybrid cooling systems, and connected devices. The dairy industry, particularly fresh liquid milk production, cheese, butter, whole milk powder, and cryogenic slurry, is a significant contributor to the market. New players like Bitpanda and Bitpanda Wealth, family offices, and corporate treasuries are entering the market, leveraging AI models, data assets, and data infrastructures to optimize operations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Meat And Seafood
• Fruits And Vegetables
• Bakery And Confectionery
• Dairy And Frozen Products
• Others
• Type
• Private And Semi-private
• Public
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio