Overview and Scope
Frozen storage refers to the storage of various products, such as vegetables, seafood, fruits, and others, at a temperature below 32°F in cold storage facilities. Frozen storage units are meant to store food items to maintain the nutritional value and freshness of products.
Sizing and Forecast
The frozen storage market size has grown strongly in recent years. It will grow from $134.65 billion in 2023 to $146.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to changing consumer lifestyles and dietary habits, globalization and supply chain dynamics, rise in quick-service and frozen food retailers, seasonal demand for frozen products, increased urbanization and convenience..
The frozen storage market size is expected to see strong growth in the next few years. It will grow to $205.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to expansion of e-commerce in grocery and food delivery, health and wellness trends, technological innovations in cold chain logistics, globalization of food supply chains, focus on food safety and quality.. Major trends in the forecast period include e-commerce and online grocery, globalization of food supply chains, health and safety standards, customization and scalability, urbanization and convenience foods..
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Segmentation & Regional Insights
The frozen storage market covered in this report is segmented –
1) By Warehouse Type: Private and Semi-private, Public
2) By Construction: Bulk Storage, Production Stores, Ports
3) By Application: Processed Food, Fruits and Vegetables, Fish, Meat, and Sea Food, Pharmaceuticals, Other Applications
Top 5 Major Players:
- Americold Logistics Inc
- Lineage Logistics Holdings LLC,
- Burris Logistics Company,
- Barloworld Limited,
- Henningsen Cold Storage Co
North America was the largest region in the frozen storage market in 2023. The regions covered in the frozen storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for perishable products is expected to propel the growth of the frozen storage market going forward. Perishable products refer to those food items that get spoiled or damaged if not stored at 40 °F or below, or not frozen at 0 °F or below. Perishable food items such as fresh vegetables, fruits, frozen foods, pharmaceutical products, and others are refrigerated or kept in cold storage to reduce the rate of food deterioration. Hence, the rise in demand for perishable products will required frozen storage facilities to keep them safe, which will increase the demand for market. For instance, in June 2021, according to the Australian Bureau of Statistics, an Australia-based government organization, the annual revenue generated by perishable goods rose around 3% in the year 2021. The perishable goods revenue in January 2020 was 7.4 % as whereas total revenue in the year 2021 accounted for 9%. Therefore, the rising demand for perishable products is driving the growth of the frozen storage market going forward.
Key Industry Players
Major companies operating in the frozen storage market are integrating their efforts into strategic investments to expand their geographical reach and gain a competitive edge in the market. Strategic investments by frozen storage companies refer to the deliberate allocation of capital or resources to enhance the capacity, technology, and geographic reach of cold storage facilities. Such investments may include the construction of new facilities, the adoption of advanced technologies, and the development of specialized storage solutions to meet the evolving needs of customers. For instance, in October 2023, RealCold, a New Zealand-based cold chain solutions company, announced its plan to build two state-of-the-art cold storage facilities in the Southern United States as part of its national cold chain platform launch. RealCold aims to solve an underserved demand in the industry by providing cold chain services through a network of additional cold storage facilities, which will be anchored by these initial facilities. The need is a result of significant changes in food distribution and fulfillment. Initially, RealCold’s first project will be a 376,000-square-foot facility with approximately 43,000 pallet locations, situated in Lakeland, Florida. The second project, which is slated for Lockhart, Texas, entails building a 310,000-square-foot facility that can initially house more than 36,000 pallets. When coupled with RealCold’s distinctive service offerings, these two mission-critical sites will bolster the company’s strategic goals, which are based on the fundamental shift in customer buying behaviors toward online and grocery delivery.
The frozen storage market report table of contents includes:
1. Executive Summary
2. Frozen Storage Market Characteristics
3. Frozen Storage Market Trends And Strategies
4. Frozen Storage Market – Macro Economic Scenario
5. Global Frozen Storage Market Size and Growth
….
31. Global Frozen Storage Market Competitive Benchmarking
32. Global Frozen Storage Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Frozen Storage Market
34. Frozen Storage Market Future Outlook and Potential Analysis
35. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Frozen Storage Market, Segmentation By Warehouse Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Frozen Storage Market, Segmentation By Construction, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Frozen Storage Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Americold Logistics Inc. Financial Performance
Table 75: Lineage Logistics Holdings LLC Financial Performance
Table 76: Burris Logistics Company Financial Performance
Table 77: Barloworld Limited Financial Performance
Table 78: Henningsen Cold Storage Co. Financial Performance
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