Global Cold Storage Construction Market Overview
Cold Storage Construction Market Size was estimated at 64.2 (USD Billion) in 2022. The Cold Storage Construction Market is expected to grow from 68.78 (USD Billion) in 2023 to 127.9 (USD Billion) by 2032. The Cold Storage Construction Market CAGR (growth rate) is expected to be around 7.14% during the forecast period (2024 - 2032).
Key Cold Storage Construction Market Trends Highlighted
The cold storage construction market is poised for significant growth due to rising demand for perishable food products, pharmaceuticals, and other temperature-sensitive goods. The increasing emphasis on food safety and quality standards has driven the need for efficient and reliable cold storage facilities.
Additionally, the expansion of e-commerce and online grocery shopping has fueled the demand for cold storage solutions to ensure product freshness and minimize spoilage during transportation.
Key market drivers include the growing population and urbanization, which lead to increased consumption of perishable foods and a greater need for storage and distribution facilities.
The rise of the pharmaceutical and biotechnology industries also contributes to market growth as these sectors require specialized cold storage infrastructure for the proper storage and handling of vaccines, biologics, and other temperature-sensitive products.
Recent market trends include the integration of advanced technologies such as automated storage and retrieval systems, temperature control monitoring, and energy-efficient designs.
Additionally, the adoption of sustainable construction practices and the use of environmentally friendly refrigerants are gaining traction to meet regulatory requirements and reduce environmental impact.
The market is also witnessing the emergence of smart cold storage facilities that utilize IoT and cloud-based solutions for real-time monitoring and remote management, optimizing operations and reducing energy consumption.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cold Storage Construction Market Drivers
Increasing Demand for Temperature-Controlled Storage
The demand for temperature-controlled storage is a key force driving the expansion of the cold storage construction market. This trend is attributed to the heightened requirement for storing perishable goods, which include food and beverages, pharmaceuticals, and chemicals, among others.
Additionally, the emergence of the e-commerce market has boosted the adoption of temperature-controlled storage, as many consumers purchase such perishables from online stores.
In conclusion, the demand for temperature-controlled storage will be a factor that drives the cold storage construction market in the future.
Government Regulations on Food Safety
Another major driver of the cold storage construction market is government regulations related to food safety. The regulations require food manufacturers and distributors to have tight temperature control in their supply chains.
Thus, cold storage facilities are in great demand due to the regulation requirements. Moreover, the demand for cold storage construction is expected to increase due to a rise in the use of government regulations related to food safety to ensure the safety of consumers.
Technological Advancements in Cold Storage
Technological advancements in cold storage are also driving the growth of the cold storage construction market. These advancements include the development of new and more efficient refrigeration systems, as well as the use of automation and robotics in cold storage facilities.
These advancements have helped to reduce the cost of cold storage and improve the efficiency of operations.
The increasing adoption of technological advancements in cold storage is expected to continue to drive the growth of the cold storage construction market in the coming years.
Cold Storage Construction Market Segment Insights
Cold Storage Construction Market Storage Temperature Insights
The Cold Storage Construction Market is segmented by storage temperature as ambient controlled storage, refrigerated storage, frozen storage, and ultra-low temperature storage. Among these, the refrigerated storage segment is anticipated to hold the largest market share in the forecasted span.
This kind of storage facility is used for storing temperature-sensitive products which include fruits, vegetables, dairy products as well as pharmaceuticals. The increasing need for these products is potentiated to drive the growth of the refrigerated storage market.
The frozen storage segment which is used to store the products for the long term that require preservation is expected to witness highest CAGR in the span of forecast. This kind of storage facility includes meat products, fish, and poultry.
Increasing consumption of frozen food products is anticipated to drive the growth of frozen storage market. Moreover, the ambient controlled storage segment is used to store products which do not require temperature to be kept under control. The products which come under this segment are dry stored goods and canned goods.
With the growth of the e-commerce industry, the demand for the ambient controlled storage sector is likely to rise as the products are being stored in the warehouses before being shipped to the customers.
The ultra-low temperature storage segment is used to store the products for which the required temperature is very low. It is used for storing vaccines and biological samples. The growth in the healthcare industry is expected to drive the demand for ultra-low-temperature storage facilities.
Overall, the Cold Storage Construction Market is anticipated to grow at a significant rate in the forecasted span.
The rising demand for temperature-controlled storage facilities in many industries is expected to drive the growth of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cold Storage Construction Market Application Insights
The Cold Storage Construction Market is divided based on application into Food Beverage, Pharmaceutical Healthcare, Industrial Manufacturing, and Retail Commercial.
The Food Beverage segment accounted for the largest market share in 2023 and is expected to dominate throughout the forecast period. The growth of the segment can be attributed to the rising demand for cold storage to store perishable food and beverages.
The Pharmaceutical Healthcare segment is also expected to grow significantly over the forecast period owing to the surge in need for the cold storage facilities to store the temperature-sensitive drugs and vaccines.
The Industrial Manufacturing segment is anticipated to exhibit steady growth owing to the rise in demand for the cold storage to store the raw materials and finished goods.
The Retail Commercial segment is also expected to grow over the forecast period due to the surge in demand for the cold storage to store the perishable retail goods.
Cold Storage Construction Market Construction Type Insights
The Cold Storage Construction Market is segmented by construction type into concrete masonry unit, metal panel, tilt-up concrete, and steel frame. Among these, the metal panel segment held the largest market share in 2023, accounting for approximately 38.4% of the market.
The growth of this segment can be attributed to the increasing demand for energy-efficient and sustainable construction materials. Metal panels offer excellent insulation properties, which helps to reduce energy consumption and lower operating costs.
Additionally, metal panels are lightweight and easy to install, making them a cost-effective option for cold storage construction.
The concrete masonry unit segment is expected to witness significant growth over the forecast period, owing to its durability and fire resistance properties. Concrete masonry units are also relatively inexpensive, which makes them a viable option for budget-conscious projects.
The tilt-up concrete segment is expected to grow steadily over the forecast period, driven by the increasing popularity of tilt-up construction for large-scale cold storage facilities. Tilt-up concrete offers several advantages, including speed of construction, durability, and energy efficiency.
The steel frame segment is expected to experience moderate growth over the forecast period, primarily due to its strength and versatility. Steel frames are ideal for constructing large, complex cold storage facilities that require high levels of structural integrity.
Cold Storage Construction Market Automation Level Insights
The Cold Storage Construction Market is segmented by automation level into Manual, Semi-Automated, and Automated. The Automated segment held the largest market share in 2023, and it is projected to continue to grow at the highest CAGR during the forecast period.
The increasing adoption of automation technologies in the cold storage industry is driven by the need to improve operational efficiency, reduce labor costs, and enhance product quality.
Automated systems can perform various tasks, such as product handling, inventory management, and temperature control, with minimal human intervention.
Semi-automated systems, which combine manual and automated processes, offer a balance between cost and efficiency. Manual systems, which rely heavily on manual labor, are still used in smaller facilities or for specialized tasks.
The market growth for the Automated segment is attributed to the rising demand for automated solutions in the food and beverage, pharmaceutical, and logistics industries.
Cold Storage Construction Market Regional Insights
The market growth is attributed to the increasing demand for temperature-controlled storage facilities across various industries, including food and beverage, pharmaceuticals, and chemicals.
Regionally, North America held the largest market share in 2023, accounting for over 35% of the revenue. The region's well-developed cold storage infrastructure and stringent regulations regarding food safety contribute to its dominance.
Europe and APAC are other prominent markets, with significant investments in cold storage construction to support the growing food and beverage industries.
South America and MEA are emerging markets with potential for growth due to increasing urbanization and rising demand for processed and frozen foods.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cold Storage Construction Market Key Players and Competitive Insights
Major players in the Cold Storage Construction Market have a wide range of experience and expertise, with some specializing in specific market segments while others offer a more comprehensive range of services.
The leading Cold Storage Construction Market players are continuously investing in research and development to enhance their offerings and gain a competitive advantage. They also engage in strategic partnerships, acquisitions, and collaborations to expand their market presence and capabilities.
The Cold Storage Construction Market development is driven by factors such as the growing demand for food and beverages, the increasing need for efficient and reliable cold storage solutions, and the rising awareness of food safety and quality standards.
One of the leading companies in the Cold Storage Construction Market is Americold Logistics, which provides temperature-controlled warehousing and logistics services to the food and beverage industry. Americold has a presence with over 200 facilities spread across 30 countries.
The company offers a range of services, including temperature-controlled storage, transportation, and supply chain management. Americold is committed to sustainability and has implemented various initiatives to reduce its environmental impact, such as using energy-efficient technologies and implementing waste reduction programs.
A notable competitor in the Cold Storage Construction Market is Lineage Logistics, which offers a comprehensive suite of temperature-controlled warehousing and logistics services. Lineage has a network of over 300 facilities in 20 countries.
The company provides a wide range of services, including temperature-controlled storage, transportation, and value-added services such as inventory management and order fulfillment. Lineage is focused on innovation and has invested in technology to enhance the efficiency and accuracy of its operations.
The company is also committed to sustainability and has implemented various programs to reduce its environmental footprint, such as using renewable energy sources and reducing waste.
Key Companies in the Cold Storage Construction Market Include
- Americold Logistics
- United States Cold Storage
- Blue Frog Cold Storage
- Emergent Cold
- Henningsen Cold Storage
- VersaCold Logistics Services
- Coldwell Banker Commercial NRT
- A1 Cold Storage
- Lineage Logistics
- Matson
- Burris Logistics
Cold Storage Construction Market Developments
The growth of the market is attributed to the increasing demand for cold storage facilities due to the rising consumption of perishable food products, the growth of the e-commerce industry, and the stringent regulations regarding food safety and quality.
The Asia-Pacific region is expected to dominate the market throughout the forecast period, owing to the increasing population and urbanization in the region.
Key market players are investing in research and development to introduce innovative cold storage solutions, such as automated storage and retrieval systems and temperature-controlled packaging.
Recent news developments include the acquisition of Lineage Logistics by Blackstone in 2023, creating one of the largest temperature-controlled logistics companies ly.
Prologis also announced plans to invest USD 1 billion in the development of cold storage facilities in the United States. These developments indicate the growing importance of cold storage construction in the supply chain.
Cold Storage Construction Market Segmentation Insights
Cold Storage Construction Market Storage Temperature Outlook
- Ambient Controlled Storage
- Refrigerated Storage
- Frozen Storage
- Ultra-Low Temperature Storage
Cold Storage Construction Market Application Outlook
- Food Beverage
- Pharmaceutical Healthcare
- Industrial Manufacturing
- Retail Commercial
Cold Storage Construction Market Construction Type Outlook
- Concrete Masonry Unit
- Metal Panel
- Tilt-up Concrete
- Steel Frame
Cold Storage Construction Market Automation Level Outlook
- Manual
- Semi-Automated
- Automated
Cold Storage Construction Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
64.2(USD Billion) |
| Market Size 2023 |
68.78(USD Billion) |
| Market Size 2032 |
127.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.14% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Americold Logistics, United States Cold Storage, Blue Frog Cold Storage, Emergent Cold, Henningsen Cold Storage, VersaCold Logistics Services, Coldwell Banker Commercial NRT, A1 Cold Storage, Lineage Logistics, Matson, Burris Logistics |
| Segments Covered |
Storage Temperature, Application, Construction Type, Automation Level, Regional |
| Key Market Opportunities |
Growing demand for temperature-controlled food storage Government regulations for food safety and energy efficiency Advancements in construction technologies Expansion of e-commerce and cold chain logistics Increasing investments in pharmaceutical and healthcare cold storage |
| Key Market Dynamics |
Increasing demand for perishable goods Government initiatives for food security Growing e-commerce sector Advancements in refrigeration technology Stringent regulations for food safety and quality |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cold Storage Construction Market is expected to reach a valuation of approximately USD 68.78 billion in 2023.
The market is expected to register a CAGR of 7.14% from 2024 to 2032.
By 2032, the market is projected to reach a valuation of approximately USD 127.9 billion.
The Asia-Pacific region is expected to dominate the Cold Storage Construction Market, accounting for a significant market share.
Cold storage construction finds applications in various industries, including food and beverage, pharmaceuticals, and logistics.
Key players in the Cold Storage Construction Market include Americold Logistics, Lineage Logistics, and Swire Cold Storage.
Factors such as rising demand for temperature-controlled storage, increasing investments in food and beverage, and pharmaceutical industries, and growing e-commerce are contributing to market growth.
Challenges include fluctuating raw material prices, stringent regulations, and intense competition in the market.
Advancements in automation, IoT, and sustainable construction practices are influencing the market's development.
The market is anticipated to experience continued growth, driven by factors such as rising demand for cold storage facilities, technological advancements, and increasing investments in emerging markets.
