Market research, 07 March 2024
Refrigerated warehousing also referred as cold storage, refers to a system which is utilized to store goods which need to be in optimal temperature to retain their freshness. 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. In addition, main components of a cold storage room or refrigerated warehouse comprises compressor, condenser receiver, expansion valve, evaporator, and blowers. Moreover, apart from food, refrigerated warehousing is required for blood samples, camera film, beverages, and others.
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.
Some leading companies profiled in the refrigerated warehousing market report comprises 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.
Refrigerated warehouses are designed to protect perishable products from external temperature variation. Consumers are becoming aware of the importance of health and wellness. They are also aware about the impact that food components, especially protein, have on the growth and development of the human body. This has resulted in shift in perishable food consumption patterns such as fruits, vegetables, and other protein-based products.
In addition, emerging economies are witnessing a high demand for perishable products owing to rapid urbanization, changing taste & preferences of consumers in these countries. The market potential for processed and frozen food products is also high in these countries owing to their lower adoption rates. The consumption of ready-to-eat meals such as frozen pizzas, and snacks is surge in steadily in these countries, which in turn is increasing the demand for perishable goods. Thus, increase in demand for perishable goods is driving the growth of the refrigerated warehousing industry during the forecast period.
A lot of warehouses comprising refrigerated systems are designed to ensure the ideal storage and transportation conditions for temperature-sensitive products. Multiple export industries are dependent on the vital links that the refrigerated solution systems provide. Businesses invest billions of dollars in their cold chain operations to create effective, efficient, and reliable processes because end-to-end cold chain security is the weak link in the system. Single breakdown in the cold chain logistics chain can lead to catastrophic losses of products and capital. For instance, in September 2021, Pasarnow e-commerce company raised funding worth $3.3 billion for the up-gradation of its fragmented and inefficient supply chain, which includes temperature controlled warehouses and others that increase the productivity of the company. Thus, an increase in refrigerated warehouses is expected to fuel the growth of the refrigerated warehousing market during the forecast period.
