How much is the U.S. Cold Storage market worth?

 U.S. Cold Storage Industry Overview

The U.S. cold storage market size is estimated to reach USD 66.74 billion by 2030, expanding at a CAGR of 9.2% over the forecast period, according to the new research conducted by Grand View Research, Inc. The U.S. is widely regarded as one of the leading markets in developing technologies responsible for the effective management of cold storage processes. The pharmaceutical industry is expected to offer growth opportunities to the market. Inventory management of pharmaceutical goods, such as vaccines and medicines, is an expensive process that necessitates adequate security measures to maintain product quality. Advanced cold storage technologies that offer beneficial features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly mitigate the possibility of wastage of temperature-sensitive goods.

U.S. Cold Storage Market Segmentation

Grand View Research has segmented the U.S. cold storage market based on warehouse type, construction type, temperature type, application, and state:

Based on the Warehouse Type Insights, the market is segmented into Private & Semi-private and Public.

  • In terms of revenue, the public segment dominated the market with a share of 77.46% in 2021, owing to its significant adoption among consumers for leased or short terms purposes at affordable costs.
  • A public warehouse is operated as an independent business or third-party provider that offers various services, such as handling, warehousing, and transportation for a fixed or variable fee. Public warehouses are also known as duty-paid warehouses that can be owned by an individual or some agency.

Based on the Construction Type Insights, the market is segmented into Bulk Storage, Production Stores and Ports.

  • The production stores segment held the largest revenue share in 2021 and is estimated to register the highest CAGR exceeding 11.1% from 2022 to 2030. 
  • Bulk storage warehouses are suitable for storing fruits and vegetables in large volumes. They can also be used to extend the availability of other bulk materials such as flour, cooking ingredients, and canned goods while protecting them from spoilage and keeping them away from direct sunlight.

Based on the Temperature Type Insights, the market is segmented into Chilled and Frozen.

  • The frozen segment accounted for the largest share exceeding 82.27% in 2021. Increasing awareness about convenience food among individuals has led to a shift in their preference for ready-to-cook meals. These trends have significantly contributed to the rise in the adoption of frozen foods, thereby leading to segment growth.
  • The warehouses falling under the chilled segment maintain their storage temperature in the ranges of above -5°C. They are used to store fresh fruits & vegetables, eggs, dry fruits, milk, and dehydrated foods, among others. 

Based on the Application Insights, the market is segmented into Fruits & Vegetables, Dairy, Fish, Meat & Seafood, Processed Food and Pharmaceuticals.

  • In terms of revenue and market share, the fish, meat & seafood segment captured the largest share of 36.43% in 2021.
  • The pharmaceutical segment is projected to witness significant growth from 2022 to 2030. Pharmaceutical and biotechnology supply chains are prone to risks associated with product adulteration during transport. 

U.S. Cold Storage State Outlook

  • Maine
  • Massachusetts
  • Vermont
  • New Jersey
  • New York
  • Pennsylvania
  • Delaware
  • Florida
  • Georgia
  • Maryland
  • North Carolina
  • South Carolina
  • Virginia
  • Illinois
  • Indiana
  • Michigan
  • Ohio
  • Wisconsin
  • Alabama
  • Kentucky
  • Mississippi
  • Tennessee
  • Iowa
  • Kansas
  • Minnesota
  • Missouri
  • Nebraska
  • North Dakota
  • South Dakota
  • Arkansas
  • Louisiana
  • Oklahoma
  • Texas
  • Arizona
  • Idaho
  • Mexico
  • Utah
  • California
  • Oregon
  • Washington
  • Others

Key Companies Profile

The key industry players engage in implementing several recent developments, such as setting up new facilities to offer avenues for increased profitability through improved customer relationships. Along with this, the companies are actively focused on expansion through mergers and acquisitions.

Some prominent players in the U.S. Cold Storage market include

  • Americold
  • AGRO Merchants Group North America
  • Burris Logistics
  • Henningsen Cold Storage Co.
  • Lineage Logistics Holdings, LLC
  • Nordic Logistics
  • Preferred Freezer Services
  • VersaCold Logistics Services
  • United States Cold Storage
  • Wabash National Corporation

Order a free sample PDF of the U.S. Cold Storage Market Intelligence Study, published by Grand View Research.

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