Cold Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Cold Storage Market is Segmented by Construction Type (Bulk Storage, Production Stores, Ports), by Temperature (Chilled, Frozen), by Application (Fruits & Vegetables, Dairy, Fish, Meat, & Seafood, Processed Food, Pharmaceuticals, Others), by Geography (North America, Europe, Asia Pacific, Rest of the World). The Report Offers Market Size and Forecasts for the Cold Storage Market in Value (USD) for all the Above Segments.

Cold Storage Market Size

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Cold Storage Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 151.68 Billion
Market Size (2029) USD 190 Billion
CAGR (2024 - 2029) 4.61 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Cold Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Cold Storage Market Analysis

The Cold Storage Market size is estimated at USD 151.68 billion in 2024, and is expected to reach USD 190 billion by 2029, growing at a CAGR of 4.61% during the forecast period (2024-2029).

 The market has benefitted significantly from the stringent regulations governing the production and supply of temperature-sensitive products.

  • Its expansion can be linked to rising demand for cold storage in commercial and industrial organizations, as well as regulatory compliance demands. The majority of the expansion was seen in emerging nations such as India, China, Brazil, Indonesia, and Mexico, among others.
  • According to the cold storage industry, 53% of enterprises want to enhance their cold storage capacity. Increasing demand for food and pharmaceuticals, as well as a greater emphasis on safety, has resulted in a rise in demand for cold storage space.
  • In 2022, the frozen category led the market, accounting for around 77.3% of worldwide sales. Increasing frozen food consumption in emerging nations such as India and China is pushing the frozen food industry in particular. Warehouses in this category keep their storage temperatures between -10°F and -20°F. They hold frozen vegetables, fruit, fish, meat, seafood, and other items.
  • The absence of infrastructure necessary to support the cold chain is expected to provide a significant hurdle for enterprises looking to grow into emerging economies. Furthermore, the unavailability of power hook-ups for reefer trailers at transportation hubs and ports may stymie industry expansion in these areas. COVID-19 caused lockdowns and travel restrictions in numerous regions of the world, affecting the supply chains of many industries. The consequences of COVID-19 have had a considerable impact on the market.

Cold Storage Market Trends

Rapid Growth in Import and Export Activities of Food Items and Pharmaceutical

Cold storage facilities are witnessing rapid growth in demand owing to the increasing import and export activities. The cold storage market is booming with increasing global trade and the corresponding need for secure storage infrastructure.

India accounts for 5.92% of the worldwide pharmaceutical and medicine market. Formulations and biologics accounted for most of India's exports (73.31%), followed by drug intermediates and bulk medicines. In 2021-22, the country exported pharmaceutical items worth USD 24.62 billion, a 2% increase over the previous year. Exports increased by 18% yearly to USD 24.4 billion in 2020-21.

In March 2022, India exported USD 2.4 billion worth of drugs and pharmaceuticals, a 23% increase from USD 1.97 billion in February 2022. The USA, UK, South Africa, Russia, and Nigeria are India's top five export destinations.

In December 2022, China's pharmaceutical product exports totalled USD 990 million, while imports totaled USD 3.29 billion, resulting in a USD 2.3 billion negative trade deficit. From December 2021 and December 2022, China's pharmaceutical exports fell by USD -3.04B (-75.4%) from USD 4.03B to USD 990M, while imports fell by USD -423M (-11.4%) from USD 3.71B to USD 3.29B.

Cold Storage Market: Revenue of the Over the Counter (OTC) Pharmaceuticals Market in Asia and Australia & Oceania, In USD Billion, By Subregion, From 2016 to 2025

Renewable Refrigeration Technologies to Open New Market Opportunities

Cooling is the fastest-growing energy use, but it is also one of the most crucial energy debate blind spots today. Rising cooling demand is putting a strain on electrical infrastructure and pushing up emissions in several countries. The European Commission's Heating and Cooling Strategy mentions measures such as "raising the percentage of renewables" and "reuse of energy waste from industry" as two essential areas for decarbonizing cooling to meet the EU's climate objectives by 2050. As a result, new technology development and adoption are critical to meet end users' needs promptly by flexibly 'absorbing' renewable energy and/or waste heat and then 'converting into' and storing cooling energy. 

Solar-powered cold storage systems reduce post-harvest loss by roughly 80% and increase the shelf life of perishable foods from two to 21 days. 

There are also cooling systems that use natural refrigerants like ammonia (NH3) or carbon dioxide (CO2) to collect heat from the field and start the cold chain process. Load monitoring in real time also enables the collection of data on location, temperature, humidity, and other variables such as CO2 levels or door opening to improve control.

Increasing the capacity to monitor and control the cold chain allows for timely corrective actions to be taken when a critical variable departs from the ranges established for quality control, providing the opportunity to avoid or reduce losses, while registration itself, the log of conditions throughout the chain, allows the parties involved to validate that the products were kept in the required conditions. 

Intelligent systems based on the 5G (ubiquitous) Internet of Things are an emerging technology in the design of cold chain logistics. With its technological benefits, the Internet of Things is infiltrating the logistics area and replacing the original industrial shape. This provides a solid foundation for wholesalers and retailers to make logistical decisions, and it has significant application value for increasing the logistics efficiency of the whole cold chain.

Cold Storage Market: Commercial Refrigeration Market Size in North America, By Product, In USD Billion, From 2018 to 2022

Cold Storage Industry Overview

The market is somewhat fragmented, with various local players present. These market participants are attempting to increase their market share through techniques such as investments, collaborations, acquisitions, and mergers. Businesses are also investing in the creation of new products. Furthermore, they are concentrating on keeping competitive pricing. Lineage Logistics Holdings, NewCold, Cloverleaf Cold Storage, Burris Logistics, and Americold Logistics LLC are the market's leading participants.

Americold Logistics LLC also plans to extend its activities in Europe, South America, the United States, and Australia with the acquisition of Agro Merchants Group, the world's fourth-biggest cold storage operator and the third-largest in Europe.

Cold Storage Market Leaders

  1. Lineage Logistics Holdings

  2. Americold Logistics LLC

  3. Nichirei Corporation

  4. The United States Cold Storage

  5. NewCold

*Disclaimer: Major Players sorted in no particular order

Cold Storage Market Concentration
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Cold Storage Market News

  • March 2023: Lineage Logistics, one of the top global suppliers of temperature-controlled industrial REIT and logistics solutions, established a new Southern Europe headquarters in Madrid, Spain. Lineage's new offices in Madrid demonstrate the company's ongoing commitment to the area and create the groundwork for future expansion. Also, the increasing attention on Southern Europe strengthens ties to the hub network of Lineage Logistics in Northern Europe and elsewhere. 
  • March 2023: The official launch of the facility extension at Santa Perpetua Barcelona, Spain, was just announced by Americold Property Trust, a pioneer in temperature-controlled warehouses and logistics for the food sector. As a result of the extension, clients in the area will have access to more temperature-controlled goods and services thanks to the addition of 11 loading bays and 12,000 pallet places. The new building is situated in Santa Perpetua, Barcelona, on Poligono Industrial La Torre del Rector Calle. The Santa Perpetua facility has more than 20,000 pallet spaces available for the storage of frozen, refrigerated, and ambient produce as a result of this development. The facility also offers transportation, order preparation, and a wide range of value-added services to clients in Spain and around Europe. Americold has four sites in Spain: Valencia, Algeciras, and Palau. This is one of them. Americold, based in Atlanta, Georgia, owns and manages 242 temperature-controlled warehouses across North America, Europe, Asia-Pacific, and South America, with a combined storage capacity of around 1.4 billion cubic feet.

Cold Storage Market Report - Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Current Market Scenario

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Value Chain / Supply Chain Analysis

    4. 4.4 Industry Policies and Regulations

    5. 4.5 General Trends in Warehousing Market

    6. 4.6 Technological Developments in the Logistics Sector

    7. 4.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers/Buyers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitute Products

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Impact of COVID-19 on the Market


    1. 5.1 By Construction Type

      1. 5.1.1 Bulk storage

      2. 5.1.2 Production stores

      3. 5.1.3 Ports

    2. 5.2 By Temperature

      1. 5.2.1 Chilled

      2. 5.2.2 Frozen

    3. 5.3 By Application

      1. 5.3.1 Fruits & Vegetables

      2. 5.3.2 Dairy, Fish, Meat, & Seafood

      3. 5.3.3 Processed Food

      4. 5.3.4 Pharmaceuticals

      5. 5.3.5 Others

    4. 5.4 By Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia Pacific

      4. 5.4.4 Rest Of the World


    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Lineage Logistics Holdings

      2. 6.2.2 Americold Logistics LLC

      3. 6.2.3 The United States Cold Storage

      4. 6.2.4 NewCold

      5. 6.2.5 Nichirei Corporation

      6. 6.2.6 Kloosterboer

      7. 6.2.7 Tippmann Group

      8. 6.2.8 Congebac Inc.

      9. 6.2.9 Snowman Logistics Pvt Ltd

      10. 6.2.10 Burris Logistics

      11. 6.2.11 Cloverleaf Cold Storage

      12. 6.2.12 VX Cold Chain Logistics

      13. 6.2.13 Constellation Cold Logistics*

    3. *List Not Exhaustive

  8. 8. APPENDIX

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Cold Storage Industry Segmentation

Cold storage refers to the preservation of food or other items in a refrigerator or other cold location. Refrigerated food keeps for a longer period of time. Furthermore, storing or moving temperature-sensitive items is an important aspect of the supply chain management process. Cold storage technology office benefits such as superior refrigeration technology and maintenance and tracking systems for diverse items such as fruits and vegetables significantly minimize the likelihood of temperature-sensitive products being wasted.

A comprehensive background analysis of the Cold Storage Market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The impact of COVID-19 has also been incorporated and considered during the study.

The Cold Storage Market is segmented By Construction Type (Bulk Storage, Production Stores, Ports), By Temperature (Chilled, Frozen), By Application (Fruits & Vegetables, Dairy, Fish, Meat, & Seafood, Processed Food, Pharmaceuticals, Others), By Geography (North America, Europe, Asia Pacific, Rest of the World). The report offers market size and forecasts for the Cold Storage Market in value (USD) for all the above segments.

By Construction Type
Bulk storage
Production stores
By Temperature
By Application
Fruits & Vegetables
Dairy, Fish, Meat, & Seafood
Processed Food
By Geography
North America
Asia Pacific
Rest Of the World
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Cold Storage Market Research Faqs

The Cold Storage Market size is expected to reach USD 151.68 billion in 2024 and grow at a CAGR of 4.61% to reach USD 190 billion by 2029.

In 2024, the Cold Storage Market size is expected to reach USD 151.68 billion.

Lineage Logistics Holdings, Americold Logistics LLC, Nichirei Corporation, The United States Cold Storage and NewCold are the major companies operating in the Cold Storage Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Cold Storage Market.

In 2023, the Cold Storage Market size was estimated at USD 144.69 billion. The report covers the Cold Storage Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Cold Storage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Cold Storage Industry Report

Statistics for the 2024 Cold Storage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cold Storage analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Cold Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)