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. Moreover, apart from food, refrigerated warehousing is required for blood samples, camera film, beverages, and others.
The increased demand for refrigerated warehousing from drugs & pharmaceutical industry has been observed. This segment is anticipated to experience lucrative growth during the forecast period as different storage conditions and stringent temperature control are essential aspects of the storage of drugs and pharmaceuticals products. Numerous healthcare service providing companies are focusing on expansion of their refrigerated warehouse capacity, which in turn contributes to the growth of the segment. For instance, in 2020, Zuellig Pharma announced that it will significantly expand its refrigerated warehouse or cold storage warehouse capacity in key regional markets.
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.
The increased demand for refrigerated warehousing from drugs & pharmaceutical industry has been observed. This segment is anticipated to experience lucrative growth during the forecast period as different storage conditions and stringent temperature control are essential aspects of the storage of drugs and pharmaceuticals products. Numerous healthcare service providing companies are focusing on expansion of their refrigerated warehouse capacity, which in turn contributes to the growth of the segment. For instance, in 2020, Zuellig Pharma announced that it will significantly expand its refrigerated warehouse or cold storage warehouse capacity in key regional markets.
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.
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.
Key Market Segments
By Ownership
- Public
- Private and Semi-private
By Temperature
- Chilled
- Frozen
By Application
- Bakery Confectionary
- Dairy Frozen Desserts
- Meat Sea Food
- Drugs Pharmaceuticals
- Others
- Fruits Vegetables
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- AmeriCold Logistics LLC
- Lineage Logistics Holding, LLC
- XPO Logistics, Inc.
- AGRO Merchants Group, LLC
- NewCold Advanced Cold Logistics
- Nichirei Logistics Group Inc.
- Interstate Warehousing, Inc.
- Frialsa Frigoríficos, S.A. de C.V.
- VX Cold Chain Logistics
- Burris Logistics
- United States Cold Storage, Inc.
- Trenton Cold Storage Inc
- Congebec Logistics Inc.
- Confederation Freezers
- Nor-Am Cold Storage, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: REFRIGERATED WAREHOUSING MARKET, BY OWNERSHIP
CHAPTER 5: REFRIGERATED WAREHOUSING MARKET, BY TEMPERATURE
CHAPTER 6: REFRIGERATED WAREHOUSING MARKET, BY APPLICATION
CHAPTER 7: REFRIGERATED WAREHOUSING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Refrigerated Warehousing Market," the refrigerated warehousing market was valued at $129.80 billion in 2021, and is estimated to reach $412.90 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031.Asia-Pacific is expected to dominate the global refrigerated warehousing market in 2021. Factors such as rapid production of frozen food and need of refrigerated storage in pharmaceutical industry is anticipated to boost the growth of the market in this region. In addition, continuous development of refrigerated warehouse for temperature-sensitive goods fuel the growth of the market in Asia-Pacific.
The increased demand for refrigerated warehousing for fresh fruits and vegetables has resulted in development of new and expanded refrigerated warehousing technology and structural improvements. Several logistics companies are also opening new refrigerated warehouses to store and import/export fruits & vegetables, which supplements the growth of the segment. For instance, February 2022, Transitex, a Lisbon-based logistics operator, opened its first refrigerated warehouse in Elvas, with the initial investment of $2.03 million (EUR 2 million). The new facility will provide integrated services to fruit and vegetable exporters in Portugal and Spain.
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.
COVID-19 Impact Analysis
- The COVID-19 pandemic has affected the refrigerated warehousing market in a negative manner. Owing to pandemic, government enforced lockdowns which resulted in closure of restaurants, supermarket, and others, which in turn affected the demand for refrigerated warehouse.
- COVID-19 also led to a drastic shift in consumer demand away from restaurants, food, service, and other types of “food away from home” toward food consumed at home. Pandemic resulted in decline in demand of packaged food or food consumed in hotel, restaurants and cafes. To maintain proper health throughout the pandemic, consumers started to search for fresh food rather than packaged or canned food. Fruits and vegetables have seen significant rise in demand during pandemic as these provides several health benefits. In addition, food and beverage industry also faced many challenges owing to the implementation of lockdown and transportation.
- However, post-pandemic, demand for refrigerated or cold storage warehousing has been rising globally owing to surge in online grocery shopping. The pandemic has accelerated this trend as consumers place increased emphasis on ready-made meal and online grocery ordering.
- Moreover, government assistance and the start of vaccination campaigns across the globe are expected to boost the growth of the refrigerated warehousing market during the forecast period.
Key Findings of the Study
- By ownership, the private and semi-private segment is anticipated to exhibit significant growth in the near future.
- By temperature, the chilled segment is anticipated to exhibit significant growth in the near future.
- By application, the drugs & pharmaceuticals segment is anticipated to exhibit significant growth in the near future.
- By region, Europe is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global refrigerated warehousing market include 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.
Companies Mentioned
- Americold Logistics LLC
- Lineage Logistics Holding, LLC
- Xpo Logistics, Inc.
- Agro Merchants Group, LLC
- Newcold Advanced Cold Logistics
- Nichirei Logistics Group Inc.
- Interstate Warehousing, Inc.
- Frialsa Frigoríficos, S.A. De C.V.
- Vx Cold Chain Logistics
- Burris Logistics
- United States Cold Storage, Inc.
- Trenton Cold Storage Inc
- Congebec Logistics Inc.
- Confederation Freezers
- Nor-Am Cold Storage, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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