US Cold Storage Market is expected to reach US$ 148,623.44 million by 2030
Growth in E-Commerce Grocery Sales is Boosting US Cold Storage Market Growth
According to our latest market study on "US Cold Storage Market Forecast to 2030 – Country Analysis – by Application, Temperature Type and Warehouse Type," the US cold storage market size is expected to grow from US$ 40,972.22 million in 2022 to US$ 148,623.44 million by 2030; it is anticipated to grow at a CAGR of 17.5% from 2022 to 2030.
The rising e-commerce grocery sales across the US are supporting the US cold storage market growth. In 2021, the total e-commerce grocery sales in the US accounted for ~13% of the e-commerce sector, which is further expected to surpass a share of ~22% by 2025. The COVID-19 pandemic scenario significantly changed the shopping behavior of consumers, resulting in a massive shift toward online shopping while requiring grocery items to be home-delivered. Such factors are generating the need for cold storage facilities, as the demand for shortening the delivery time of grocery products is witnessing rapid growth. Moreover, the rise in the number of private cold storage warehouses is another major factor supporting the growth of e-commerce grocery sales across the US, which is further driving the US cold storage market growth.
US Cold Storage Market Share — by Country, 2022
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In terms of temperature type, the cold storage market is bifurcated into chilled and frozen. The frozen segment is anticipated to hold a significant US cold storage market share by 2030. A cold storage, or freezer warehouse, maintains specific temperatures using a complex refrigeration system. Coolant, compressor, separator, condenser, receiver, and evaporator are major components of cold storage facilities. The primary objective of cold storage is to store temperature-sensitive goods, including perishable products, such as frozen foods, dairy items, meat and seafood, and pharmaceutical products. This helps maintain their quality and extend product shelf life. Chilled storage facilities primarily cater to preserving dairy products such as milk, fresh cream, curd, milk-based beverages, cheese, processed cream, and medicines (including tablets). On the other hand, frozen storage facilities help preserve frozen meat, processed food, fish, seafood, chemicals, and pharmaceutical products—such as vaccines.
Frozen warehouses or freezer warehouses are primarily operational in sub-zero temperatures, usually between -18°C and -25°C. These facilities are designed and developed to store frozen foods, such as seafood, meats, and frozen desserts. The products that must be kept at low temperatures to avoid bacterial growth and maintain product integrity are suitable for frozen warehouses. Frozen storage is a broadly used method for expanding the shelf life of eventually refrigerated food products. Freezer warehouses must be constructed from sandwich panels—the insulating element that avoids temperature leaks to the outside. The flooring of the freezer warehouse floors should be insulated to prevent condensation. A refrigerated warehouse is also known as a cold storage warehouse or chill store. These facilities primarily maintain a controlled temperature, normally between 2° and 8°, to save the quality of perishable products. Chilled warehouses are generally used for storing fresh produce products such as dairy products and other delicate or perishable products that require a chilled but not frozen environment to maintain their quality. Chilled storage helps in reducing rotting, sprouting, and insect damage. Reefer containers, ships, and trucks are usually equipped with chilled storage facilities for better management of products at the time of transportation as per supply chain requirements. Thus, all these factors are positively contributing to the growing US cold storage market size.
The scope of the US cold storage market report focuses on the US. As per the Department of Agriculture, in June 2022, the US registered 3.73 billion cubic feet of gross refrigerated warehouse capacity. Among these, public storage accounted for 72%, with 517 warehouses, and private and semi-private facilities listed 387 warehouses. In addition, the US accounted for 1,858 refrigerated storage businesses in 2023. Tobin Scientific, United States Cold Storage, Lineage Logistics, Agro Merchant Group LLC, Wabash National Corporation, and Americold Logistics, Inc. are a few of the major cold storage and logistic companies operating in the US. In 2023, CJ Logistics America announced the expansion of its temperature-controlled warehousing capabilities with the inauguration of a 206,000 sq ft storage facility in Nashville, Tennessee. Such strategic initiatives by key market players are anticipated to create various growth opportunities for the US market in upcoming years.
The US cold storage market analysis is carried out by identifying and evaluating key players in the market. Americold Logistics Inc., Lineage Logistics LLC, United States Cold Storage Inc, Interstate Warehousing Inc, Newcold Cooperatief, Kloosterboer, Arcadia Cold Storage & Logistics, CTW Logistics, Burris Logistics, and VersaCold Logistics Services are among the key players analyzed in the US cold storage market report. The report also includes growth prospects in light of current US cold storage market trends and driving factors influencing the market growth.
Companies operating in the US cold storage market highly adopt inorganic strategies such as mergers and acquisitions. The market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The players present in the US cold storage market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings. A few recent developments by the key US cold storage market players are listed below:
Year | News |
2023 | Lineage LLC acquired eight facilities from Burris Logistics (Burris), a temperature-controlled food distribution company. Lineage's warehousing network included eight cold storage facilities in Lakeland, Florida; Jacksonville, Florida; McDonough, Georgia; Edmond, Oklahoma; New Castle, Delaware; Waukesha, Wisconsin; and Federalsburg, Maryland, totalling nearly 1.3 million square feet of capacity and approximately 115,000 pallet positions. |
2022 | Burris Logistics acquired the R.W. Zant Company, a foodservice redistribution in Los Angeles. R.W. Zant has been “an Honor Foods Company” as the food service redistributor in the Mid-Atlantic. Honor Foods expanded its reach and protein capability. Following this acquisition, R.W. |
2023 | Interstate Warehousing inaugurated its new 250,000-square-foot facility in Kingman, Arizona, which is the ninth location in its Interstate Warehousing network. This facility will provide cold storage solutions for the food industry in the Southwest region of the US. |
2023 | Tippmann Group and Cold-Link Logistics have completed a groundbreaking ceremony for a new 198,000-square-foot cold storage facility in Ellisville, Mississippi. The state-of-the-art facility will offer nearly 27,000 pallet positions of frozen and refrigerated storage space. The facility is scheduled to open in July 2024. |
2022 | Americold Realty Trust Inc. opened a plant in Dunkirk, New York. With 181,000 square feet of cold storage and operations space, this LEED-certified facility had 25,000 pallet slots to meet the cold storage demands of western New York. |
2023 | Lineage LLC opened a next-generation cold storage facility in Tauranga, New Zealand. The facility had over three million cubic feet of space and more than 16,000 pallet positions. |
2023 | Lineage LLC opened a cold storage facility at Houston ColdPort. The new facility strengthened Lineage's network in Texas, which now extends over 189 million cubic feet of capacity across 19 sites. |
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