New York, March 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cold Storage Market By Warehouse Type, By Application, By Construction Type, By Temperature Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06240981/?utm_source=GNW
The role of cold storage is to preserve food or any other items at any cold place or refrigerator. Food can be stored for the long term in the refrigerator. Also, cold storage is an essential part of the supply chain when it comes to storing and transporting products which are needed to be kept under a particular temperature.
Candles are meant to be stored in cold temperatures as they are made of wax and melting will ruin them, resulting in financial loss. Beauty products like lipsticks, mascaras, nail paints, and others can also get ruined in heat and therefore, need arises to store them in low temperatures. Textile companies dealing in cloth material like fur, wool, or skin are also needed to be stored in cold storage as keeping them in higher temperatures can make them unfit for use.
The main cause of food poisoning is the microorganisms which present in perishable products. These microorganisms can themselves be increased at much higher quantity, thus making the food items unfit for consumption. This risk can be eliminated by storing them in an adequate manner at a particular temperature that needs a proper cold chain.
COVID-19 Impact
COVID-19 pandemic was originated from China and then its outbreak in Europe and the U.S. significantly affected various countries. The spread of COVID-19 has affected nearly all industries. Market demand and supply plays a crucial role in the stable ratio of the market. The cold storage market has faced an unexpected downfall during the pandemic period. Governments of many countries have imposed travel restrictions to curb the spread of COVID-19.
It was next to impossible to maintain the supply chains in such situations. Almost all the supply channels were badly affected due to the decline in the consumption of food products. Also, there was a massive disruption in production of products due to limited resources and workforce, thus declined the demand for cold storage systems during the pandemic. However, the cold storage market is also expected to grow post the COVID-19 scenario.
Market Growth Factors:
Growth of Pharmaceutical sector
Manufacturers in the pharmaceutical industry are focused on product sensitivity and quality. Increasing production of advanced biological-based medicines, complex proteins, vaccines, and shipment of hormone treatment is needed to be transported in temperature-controlled vehicles due to their highly perishable nature which can be done through cold chains. The cold storage sector is required to respond in the best possible manner to manage the volume, sensitivity, and quality of products.
Cost-efficient for food and beverage industry
A lot of money is wasted due to deterioration of the commodities from inadequate storage. In such conditions, cold storage warehousing can save the cost by reducing the chances of such wastage of preserved goods as perishable products can get rotten easily if kept under room temperature. However, this is not same in case of storing them in refrigerated warehouses.
Market Restraining Factors:
Health Concerns of consumers
Refrigerating food for long time results in the loss of nutrients that are essential for the body. Also, food can lose its texture, flavor and color too. Consumption of fruits and vegetables which are frozen at a very low temperature can lead to freezing injury which would result in loss of texture of food. Additionally, frozen food contains starch in it in very large quantity and excess consumption of starch can result in diabetes and also damage body tissues.
Warehouse Type Outlook
Based on the warehouse-type outlook, the cold storage market is segmented into private & semi-private and public. In 2020, the public segment dominated the cold storage market by generating maximum revenue share. This is because public warehouses are flexible and affordable than private warehouses. Public warehouses also called duty-paid warehouses owned by an agency or any particular individual.
Application Outlook
Based on application, the cold storage market is segmented into fruits & vegetables, dairy, fish, meat & seafood, processed food, pharmaceuticals. In 2020, the fish, meat & seafood segment dominated the cold storage market. Fish flesh and other seafood items can be prevented from spoiling due to the action of enzymes and bacteria by preserving them in the lower temperature. The use of cold storage for preserving seafood is likely to result in the growth of the segment.
Construction Type Outlook
On the basis of construction type outlook, the cold storage market is categorized into bulk storage, production Stores, and ports. In 2020, the production stores segment dominated the market by acquiring the largest revenue share. Production store are the warehouses which use the production premise for storing the primary produce till the time of sale. There is need to have cold production stores to ensure the safety of produce at production sites.
Temperature Type Outlook
On the basis of temperature outlook, the cold storage market is divided into chilled and frozen. In 2020, the frozen segment procured the maximum revenue share of the cold storage market. Increasing demand for frozen food in developing countries is the major factor responsible for segment’s growth. Consumers prefer these food products because of their ease of use. The temperature of such warehouses is kept between 10 to 20°F. Frozen vegetables, fish, meat, fruits, dehydrated food, and other frozen products are stored in such stores.
Regional Outlook
Region-wise, the cold storage market is analyzed in North America, Europe, Asia Pacific, and LAMEA. In 2020, North America dominated the cold storage market by generating maximum revenue. The rapid increase in connected devices along with the existence of a large number of consumers is the main factor responsible for the growth of the region. Mexico is expected to have the maximum growth in North America. Also, the increasing investments in the market will increase the demand for cold storage.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Americold Realty Trust, Burris Logistics, Lineage Logistics Holdings, LLC, Kalari Pty Ltd. (John Swire & Sons Limited), VersaCold Logistics Services, Wared Logistics, Wabash National Corporation, and Tippmann Group.
Recent strategies deployed in Cold Storage Market
Partnerships, Collaborations and Agreements:
May-2020: Americold entered into a partnership with Ahold Delhaize USA, one of the largest food and consumables retailers in the United States. Through this partnership, the companies aimed to build two previously announced fully-automated frozen warehouses. This would further expand cold-storage space by 24 million cubic feet, or 500,000 square feet. The warehouses would be will be located in Plainville, Conn., and in Lancaster, Pa., which would serve Ahold Delhaize USA’s northern and Mid-Atlantic brands.
Acquisitions and Mergers:
Nov-2021: Americold Realty Trust entered into an agreement to acquire Nova Cold Logistics, a Canadian temperature-controlled operator. By this acquisition, the company aimed to improve its presence in Three Gateway Canadian Cities, strengthen its presence in Mid-Atlantic. The acquisition aimed to expand infrastructure and existence in Canada and Mid-Atlantic U.S. with these highly strategic locations and modern facilities which offer nice growth opportunities.
Nov-2021: Lineage Logistics acquired Sørensen Group’s cold storage division. By this acquisition, the company aimed to partner with Sørensen Group across the whole of Europe in the future. The company brought important connectivity to Denmark with world-class air freight and maritime shipping infrastructure. In addition, the acquisition would add significant volumes in strategic locations near Danish ports and food production centers.
Nov-2021: Lineage Logistics took over Kantaro SRL, a cold chain warehousing provider in Italy, from Interporto Rivalta Scrivia. Under this acquisition, the company took over three warehouses in Nocetolo to improve its presence in the Italian cold storage market and enhance the company’s existing European footprint which includes Spain, France, Belgium, the Netherlands, Germany, Denmark, Norway, Poland, and the UK.
Oct-2021: Lineage Logistics took over Kloosterboer Group, a Netherlands-based, family-owned cold storage company. This acquisition aimed to improve the facility network in key European markets by focusing on sustainability and innovation in the temperature-controlled supply chain. In addition, the acquisition would strengthen the company’s ability to serve consumers all over the world, including locations in France and Germany with better supply chain efficiencies.
Aug-2021: Lineage Logistics completed the acquisition of Hanson Logistics, one of the most popular cold storage organizations in the Midwest. Through the acquisition, the company aimed to serve consumers with a full suite of services at each step of the supply chain by the company’s warehousing and transportation solutions and Hanson’s frozen food consolidation program, Velocities.
Jul-2021: VersaCold Logistics Services acquired a strategic portfolio of cold storage warehouse assets from H&R Real Estate Investment Trust and Crestpoint Real Estate Investments. From this acquisition, the company aimed to provide consistent and trusted service to consumers. In addition, the company would also expand a targeted number of these buildings to increase its capacity and accommodate the growth of consumer partners.
May-2021: Lineage Logistics acquired Crystal Creek Logistics, a direct-to-consumer fulfillment business. Under this acquisition, the company aimed to launch Direct-To-Consumer Fulfillment Capabilities to enter a swiftly growing e-commerce space for meeting the rising demand for fulfillment services from existing and new consumers.
Dec-2020: Americold Realty Trust took over Agro Merchants Group, an operator of warehouse and distribution spaces. Under this acquisition, Americold acquired 46 facilities, totaling 236 million refrigerated cubic feet, located in 10 countries.
Aug-2020: Americold acquired AM-C Warehouses, operator of the full-service warehouse and customized distribution company. Under this acquisition, the company acquired two cold storage and a newly constructed cold storage facility in Tampa, Florida. By the acquisition, the company aimed to offer greater value to existing and new consumers.
Jul-2020: Lineage Logistics acquired Henningsen Cold Storage, a full-service, public refrigerated warehousing company. From this acquisition, the company aimed to strengthen its existing presence in the Pacific Northwest by adding 14 facilities in Oregon, Washington, Idaho, Pennsylvania, North Dakota, and Oklahoma.
Jun-2020: Lineage Logistics acquired Kanalholmen 15, a large cold storage facility located in Hvidovre. By this acquisition, the company aimed to expand its geographical footprints in Nordic Region and all over Europe.
Geographical Expansions:
Sep-2021: Lineage Logistics expanded its geographical footprints in the U.K. by opening a new cold-storage warehouse. Through this expansion, the company aimed to serve with more storage capacity for major food manufacturing, service, and retail brands. In addition, this new warehouse would play a crucial role in UK food distribution and utilize 75% less energy than the European average owing to advanced technologies that maximize warehouse space utilization.
Sep-2021: Lineage Logistics expanded its geographical footprint in the UK by establishing the latest advanced cold storage facility. This advanced warehouse would play a crucial role in UK food distribution and utilize 75% less energy than the European average due to advanced technologies which maximize warehouse space usage.
Jan-2021: Tippmann Innovation expanded its geographical footprints in Hamilton, Ontario, Canada by starting construction of a $65m cold storage facility. Through this expansion, the company aimed to achieve energy efficiency and advanced warehouse management, and provide value-added service to refrigerated food providers along with continuing the growth and expansion of development footprint and would advance the cold chain infrastructure investment in North America.
Aug-2020: Wared warehousing & distribution expanded its geographical footprint by introducing a chilled warehouse in Jeddah, KSA. This warehouse has the best feature viz. “zoned” temperature-controlled corridor which results in incrementally cooler sectors making sure a steady temperature in the storage chamber irrespective of the quantity stored. The storage area is furnished with high-density racking and would accommodate a selective and large amount of storage.
Scope of the Study
Market Segments covered in the Report:
By Warehouse Type
• Public and
• Private & Semi-private
By Application
• Fish
• Meat & Seafood
• Processed Food
• Dairy
• Fruits & Vegetables
• Pharmaceuticals and
• Others
By Construction Type
• Production Stores
• Bulk Storage and
• Ports
By Temperature Type
• Frozen and
• Chilled
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Americold Realty Trust
• Burris Logistics
• Lineage Logistics Holdings, LLC
• Kalari Pty Ltd. (John Swire & Sons Limited)
• VersaCold Logistics Services
• Wared Logistics
• Wabash National Corporation
• Tippmann Group
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06240981/?utm_source=GNW
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