The global refrigerated warehousing market revenue was around US$ 146 billion in 2022 and is estimated to reach US$ 421 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period from 2023 to 2031.
Refrigerated warehousing refers to a system that is used to store products that require to be in optimal temperature to maintain their freshness. A refrigerated warehouse works on a refrigeration system that assists in maintaining an adequate environment and temperature as per the specifications of the individual item being stored.
Market Driving Factors
The surging integration of mobile technologies in warehouses is estimated to propel the market growth. This is mainly owing to the refrigerated warehouses are progressively utilizing mobile technologies to monitor warehouse procedures proficiently. Mobile technology includes utilizing tablets, mobile printers, smartphones, and other handheld devices for details and contact. These devices utilize the Global Positioning System (GPS), digital imaging, Radio-frequency identification (RFID), and voice technology. As a result, these devices provide warehouse managers access to performance reports and equipment status and permit them to track warehouse processes around the clock.
The surge in demand for refrigerated warehouses is predicted to boost the market expansion. Many warehouses comprising refrigerated systems are designed to provide the perfect storage and transportation circumstances for temperature-sensitive products. In addition, various export industries are dependent on the essential links that the refrigerated solution systems offer. As a result, companies invest billions of dollars in their cold chain operations to make efficient, effective, and reliable processes due to end-to-end cold chain security is the powerless link in the system.
Raising millennial consumption of convenience and frozen food products such as fries, patties, and nuggets is a main element for the market expansion. This is generally owing to the working population globally shifting toward frozen food and frozen convenience. As a result, people are eating frozen foods more often than ever, which increases the need for refrigerated warehouses to keep these products fresh.
High operational price is the element impeding the market growth.
Regional Analysis
North America dominated the market in terms of revenue and is estimated to continue its dominance. This can be largely attributed to the existence of some of the largest refrigerated warehouse players, such as Conestoga Cold Storage and Lineage Logistics Holding. Moreover, developed technical infrastructure and the adoption of automation among the region's firms boosted the region's growth. For instance, U.S.-based Americold Logistics, Inc. utilized robotics and automation at its warehouses. As a result, government initiatives to create temperature-controlled facilities significantly drive the market.
Asia-Pacific dominates the market in terms of shares. This is primarily owing to various factors such as the immediate production of frozen food and the requirement for refrigerated storage in the pharmaceutical industry. Additionally, the constant development of refrigerated warehouses for temperature-sensitive products is predicted to boost the market growth in the region.
Segmentation Insights
Ownership Insight
The public segment dominates the market in terms of shares. This is because public refrigerated warehouses are operated and owned by Third-Party Logistics (3PL) companies and the government. Public warehouses handle products on behalf of their customer companies. In addition, public warehouses are less expensive, more convenient, and more versatile than private and semi-private warehouses. Moreover, public warehouses are seeing rapid expansion as more companies concentrate on their areas of competence due to their lower costs and ability to offer value-added services like assembly and quality control.
The private and semi-private segment is estimated to dominate the market in terms of the highest rate. This is primarily due to that these are owned and operated by distributors, manufacturers, and wholesalers. These warehouses need substantial investment in construction and facility maintenance. Therefore, they are more appropriate for large corporations than Small and Medium-sized Enterprises (SMEs). However, private & semi-private temperature-controlled warehouses provide advantages such as large control over warehouse procedures and inventory for businesses, which is propelling the segment growth.
Prominent Companies
Segmentation Outline
The global refrigerated warehousing market segmentation focuses on Ownership, Temperature, Application, and Region.
By Ownership
By Temperature
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL REFRIGERATED WAREHOUSING MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: REFRIGERATED WAREHOUSING MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL REFRIGERATED WAREHOUSING MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL REFRIGERATED WAREHOUSING MARKET, BY OWNERSHIP
5.1 OVERVIEW
5.2 PUBLIC
5.3 PRIVATE AND SEMI-PRIVATE
6 GLOBAL REFRIGERATED WAREHOUSING MARKET, BY TEMPERATURE
6.1 OVERVIEW
6.2 CHILLED
6.3 FROZEN
7 GLOBAL REFRIGERATED WAREHOUSING MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 BAKERY & CONFECTIONARY
7.3 DAIRY & FROZEN DESSERTS
7.4 MEAT & SEA FOOD
7.5 DRUGS & PHARMACEUTICALS
7.6 FRUITS & VEGETABLES
7.7 OTHERS
8 GLOBAL REFRIGERATED WAREHOUSING MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL REFRIGERATED WAREHOUSING MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 VX COLD CHAIN LOGISTICS
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 NEWCOLD ADVANCED COLD LOGISTICS
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 TRENTON COLD STORAGE INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 CONGEBEC LOGISTICS INC.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 AMERICOLD LOGISTICS LLC
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 UNITED STATES COLD STORAGE INC
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 LINEAGE LOGISTICS HOLDING LLC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 NICHIREI LOGISTICS GROUP INC.
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 BURRIS LOGISTICS
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 INTERSTATE WAREHOUSING INC.
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 FRIALSA FRIGORÍFICOS
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 NOR-AM COLD STORAGE INC.
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 XPO LOGISTICS INC.
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 CONFEDERATION FREEZERS
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 AGRO MERCHANTS GROUP LLC
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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