US Cold Storage Market

Introduction of the US Cold Storage Market Report

The cold storage can be defined as a room designed to preserve the freshness, taste, flavour and shelf life of the commodities by maintaining the desired room temperature and controlled condition for longer periods to retard the activities of microorganisms. The cold storage is used for storing perishable products such as fruits, vegetables, meat, fish, dairy, bakery products, pharmaceutical products, and others by keeping items much cooler than regular room temperature.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing health consciousness among consumers, growth in the demand of healthy and quality food products, surging demand for e-commerce grocery deliveries are some of the major factors expected to boost the growth of the cold storage market in US. Additionally, extensive demand for perishable goods including fruits, vegetables, medicines, processed foods, Dairy products, and seafood among consumers is further anticipated to augment the market growth.

Moreover, according to NAIOP, Inc., the Food Marketing Institute predicted that online groceries ordering in US is expected to account for 13% of total grocery sales by 2022, up from 3% in 2018. Additionally, the owners and operators of US cold-storage warehouses are expected to witness an annual growth of 4% from 2018 to 2022. These factors are expected to propel the growth and development of the cold storage market in US during the forecast period.

Furthermore, cold storage facilities offer various advantages including extending the shelf life of perishable goods including fresh agricultural produce and frozen foods; adjustable temperature to control the moisture content of the products; providing an extra storage area, minimise waste and save money by controlling spoilage of commodities. The growing automation in warehouse management, implementation of monitoring components including telematics, RFID devices, sensors, and data loggers, tracking device, and networking devices for improving refrigerated storage performance and efficiency is projected to witness high growth opportunities to the market over the forecast period.

Restraint in the US Cold Storage Market

However, high capital investment and running costs of the cold storage is expected to restraint the growth of the market. Additionally, lack of skilled labour for the implementation and maintenance of technologies including advanced automation, software system, and tracking systems in cold storage facilities is further hampering the market growth in US.

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The private cold storage facility is expected to grow at a significant rate over the forecast period in US primarily due to the growing development of private warehouses by enterprises owing to various benefits including flexibility and greater control over cost and priorities regarding the overall activities such as handling, storage, and transportation.

On the basis of temperature type, the US cold storage market has been segmented into chilled and frozen. The frozen cold storage segment is anticipated to account for a prominent share in the market. This can be attributed to the rising consumption of ready to eat frozen food, frozen perishable foods including vegetables, fruit, fish, meat, dairy, and frozen bakery products among consumers. The proliferation of retail chains, including hypermarkets, supermarkets, convenience stores, speciality stores is triggering the demand for cold storages in the country.

Increased number of working population, changing consumer preferences toward ready-to-cook meals, and demand for convenience food coupled with hygiene is anticipated to boost the demand of frozen food, which thereby expected to contribute to the growth of the cold storage market in US. Moreover, growth in the demand of inventory management of pharmaceutical goods such as vaccines and medicines, and cosmetics products is further propelling the market growth.

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Top Market Players

Several notable players operating in the market, include, AGRO Merchants Group, Burris Logistics, Lineage Logistics Holdings, LLC, United States Cold Storage, Wabash National Corporation, Americold Realty Trust, Arctic Logistics LLC, A.N. Deringer Inc., DSW Distribution Centers Inc., DSC Logistics and others. 

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Key questions answered in this research report:

• • At what pace is US Cold Storage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in US Cold Storage market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of US Cold Storage market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?