Global Refrigerated Warehousing Market was valued at USD 22.29 Billion in 2019 and is expected to reach over USD 43.99 Billion by 2026, growing at a CAGR of around 10.2% during the forecast period from 2020 to 2026
Refrigerated Warehousing Market
According to the report, the global Refrigerated Warehousing Market was valued at USD 22.29 Billion in 2019 and is expected to reach over USD 43.99 Billion by 2026, growing at a CAGR of around 10.2% during the forecast period from 2020 to 2026.
The global demand for Refrigerated Warehousing Market is increasing as it is the main node in global food supply chain. Rising demand for frozen food such as meat, sea food, and readymade products is also driving the demand for Refrigerated Warehousing Market.
Global Refrigerated Warehousing Market: Overview
The handling of refrigerated and frozen food products & pharmaceutical products are amongst the most demanding aspect for a pharmaceutical manufacturer and food producer, as well as a logistic trader. A refrigerated warehouse is considered to be one such service which enables optimum administration of cold chain in storing and transporting these products. These warehouses provide an extensive range of temperature for preserving a range of products such as meat, fish and poultry, confectionary, and dairy products, among others.
Global Refrigerated Warehousing Market: Growth Factors
The most important aspect fuelling the demand and popularity for refrigerated warehousing is the rising demand and requirement for perishable foodstuffs such as fruits, as well as dairy products, poultry, and meat products. The increased demand and popularity for frozen foodstuffs these days is another aspect propelling the demand and requirement for refrigerated warehousing market. In addition, rising number of supermarkets and hypermarkets in the Asia Pacific is considerably fuelling more usage of perishable food items, therefore increasing the demand for refrigerated warehousing. Additionally, a growing number of food and beverage companies are manufacturing a flecked range of perishable food products and frozen foodstuffs; since the lifespan of these food products has increased owing to the introduction of refrigeration warehousing systems the demand for the refrigerated warehousing market is increasing.
Global Refrigerated Warehousing Market: Segmentation
The global refrigerated warehousing market can be segmented into technology, temperature, and application. Based on the technology, the global refrigerated warehousing market can be segregated into vapor compression, evaporative cooling, blast freezing, and PLC. Based on the temperature, the market can be bifurcated into chilled and frozen. On the basis of application, the market is fragmented into the bakery, meat, beverages, fruits & vegetables, dairy, and seafood.
Global Refrigerated Warehousing Market: Regional Analysis
North America is anticipated to dominate the global refrigerated warehousing market. This can be accredited to the growing inclination for perishable food products like fruits as well as high demand and popularity from the pharmaceutical division. Western Europe is also experiencing a rapid growth in the refrigerated warehousing market. Asia Pacific region, on the other hand, is projected to be the fastest increasing market. This can be accredited to increasing disposable income along with the rising standards of food choices, in countries, for instance, China and India. The Middle East and Africa and Latin America are also projected to grow with a considerable expansion rate in the coming years owing to rising living standards and the growing demand for the perishable food products. Japan is also likely to account for a considerable market share, owing to huge demand and popularity for refrigerated warehousing particularly from the pharmaceutical division of the country.
Global Refrigerated Warehousing Market: Competitive Players
Some of the most important market players in the global refrigerated warehousing market are Trenton Cold Storage., Nichirei Logistics Group, A.B. Oxford, VersaCold Logistics Services, Kloosterboer, Nordic Logistics & Warehousing, Partner Logistics, Conestoga Cold Storage, Cloverleaf Cold Storage, Burris Logistics, Congebec, Hanson Logistics, Snowman Logistics, Interstate Cold Storage, and Henningsen Cold Storage, among others.
Global Refrigerated Warehousing Market: Regional Segment Analysis
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