Cold Storage Warehouse Market – Cold storage warehouse is a place where goods at kept at a certain temperature to maintain quality.
- Cold storage warehouse are used to store perishable items, such as fruits, vegetables, meat, seafood, and dairy products, at a desired temperature to maintain the quality of the product for a long time.
- Cold storages plays a critical part in the supply chain that ships groceries, medicines, and other temperature-sensitive products. High initial investment is required to set up a cold storage unit.
- It requires facilities, such as dock-to-stock process (using temperature control docks to move inventory quickly and safely), systems to control humidity and moisture, calculate guaranteed inventory counts, and contingency plans in case of any disaster.
- Cold storage warehouse can be in variety of places. A manufacturer may have a private cold storage facility to warehouse products before sending them to end consumers.
- End-users (for instance, hotels) may have cold storage facilities to store temperature-controlled products after receiving from suppliers. Moreover, cold storage is outsourced to third party logistic provider (3PL) where products stay until they are ready to be shipped to end-users.
Rise in Online Grocery Shopping to Drive the Global Cold Storage Warehouse Market
- Increase in online grocery purchasing trend globally is anticipated to boost the demand for cold storage warehouses. With the advent of several online grocery shopping service providers, such as Walmart, Amazon, Kroger, and Target Corporation, the demand for cold storage warehouses is anticipated to increase.
- These companies serve as a link between grocery sellers and end consumers, and require cold storage units to stock substantial amount of food products. Thus, with rapid urbanization, the demand for online grocery shopping is likely to increase, which, in turn, will fuel the demand for cold storage warehouses.
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Diverse Cooling Requirements and High Initial Investments to Hamper Cold Storage Warehouse Market
- One of the major concerns associated with cold storage warehouses is varied cooling requirements as per different inventory products. Different products have different shelf life and require diverse cooling temperatures to maintain suitable quality. Managing such a diverse product portfolio is a task.
- Additionally, high initial investments and maintenance cost associated with cold storage warehouse restricts the growth of the cold storage warehouse market. Cold storage warehouses requires ammonia, refrigeration, piping systems, and HVAC systems, among others that require high initial investment.
- Cold storage facilities with average cost per square foot range between US$ 80 and US$ 120 based on different markets. Furthermore, high rental cost associated with cold storage facilities also hamper market growth.
Asia Pacific to Hold a Leading Share of Global Cold Storage Warehouse Market
- Geographically, the global Cold Storage Warehouse market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Cold Storage Warehouse market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Cold Storage Warehouse market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Cold Storage Warehouse market is segmented into Brazil, and Rest of South America.
- Asia Pacific dominates the market share due to growing consumer preference for online grocery shopping.
- However, North America is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising demand of chilled and frozen food is projected to drive cold storage warehouse market in the region.
Key Players Operating in the Cold Storage Warehouse Market:
The Cold Storage Warehouse market is competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion to enhance their position in the market.
Companies are focusing on increasing awareness about eco-friendly and zero waste products. Companies are expanding their business across different region to cater to the demand of consumers. The company focuses on emerging markets to expand its customer base. A few of the key players operating in the global Cold Storage Warehouse market are:
- LINEAGE LOGISTICS HOLDING, LLC.
- AmeriCold Logistics LLC
- United States Cold Storage
- DHL International GmbH
- XPO Logistics, Inc.
- VersaCold Logistics Services
- Tippmann Group (Interstate Warehousing)
- NFI Industries
- Penske Logistics, Inc.
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Global Cold Storage Warehouse Market: Research Scope
Global Cold Storage Warehouse Market, by Type
- Private & Semi-private
Global Cold Storage Warehouse Market, by Construction Type
- Bulk Storage
- Production Stores
Global Cold Storage Warehouse Market, by Construction Type
- Fruits & Vegetables
- Dairy Products
- Fish, Meat & Seafood
- Processed Foods
The report on the global Cold Storage Warehouse market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.