USD 161.5 Billion
Cold Storage Market Size, Share, and Growth Analysis
Cold Storage Market Size, Share, Growth Analysis, By Type (Facilities/Services, Equipment), By Temperature Type (Frozen, Chilled), By Storage (Bulk Storage, Production Stores, Ports), By Application (Food & Beverages, Pharmaceuticals, Others), By Region-Industry Forecast 2025-2032
Report ID:
SQMIG20R2071 |
Region:
Global |
Published Date: July, 2025
Pages:
199
|Tables:
111
|Figures:
70
Format -
Cold Storage Market Insights
Cold Storage Market size was valued at USD 161.5 Billion in 2023 and is poised to grow from USD 190.89 Billion in 2024 to USD 727.33 Billion by 2032, growing at a CAGR of 18.2% in the forecast period (2025-2032).
The cold storage market is experiencing robust growth, driven by increasing demand for temperature-controlled logistics across industries such as food and beverages, pharmaceuticals, and chemicals.
Rising global trade of perishable goods, expanding e-commerce grocery platforms, and stricter food safety regulations are contributing significantly to market expansion. In particular, the need for maintaining product integrity across extended supply chains has accelerated investment in both refrigerated warehousing and transportation infrastructure.
Technological advancements such as IoT-enabled monitoring systems, automated storage and retrieval solutions, and energy-efficient refrigeration units are further shaping the industry. Moreover, the rise in biologics, vaccines, and temperature-sensitive pharmaceuticals has added new urgency to cold storage capabilities in healthcare logistics. Emerging markets are rapidly investing in cold chain infrastructure, while mature economies focus on modernization, capacity expansion, and energy optimization.
How is AI Improving Temperature Control and Monitoring in Cold Storage?
AI is significantly reshaping the cold storage industry by enhancing operational efficiency, reducing energy consumption, and improving inventory accuracy. Through predictive analytics and real-time temperature monitoring, AI helps maintain optimal storage conditions, reduce spoilage, and optimize power usage based on dynamic load and demand. AI-driven warehouse management systems are also enabling better inventory rotation, labor forecasting, and route optimization for cold chain logistics.
- In May 2024, a major logistics firm partnered with a tech startup to deploy an AI-powered temperature optimization system across its cold storage facilities in Europe. The system uses machine learning to predict equipment load cycles, adjust cooling intensity based on product type, and identify energy inefficiencies in real time leading to over 20% energy savings and improved regulatory compliance.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Frozen
Fastest Growth
Chilled
Growth Rate
18.2% CAGR
Global Cold Storage Market ($ Bn)
Country Share for North America Region (%)
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Cold Storage Market Segments Analysis
Global cold storage market is segmented into type, temperature type, storage, application and region. Based on type, the market is segmented into facilities/services and equipment. Based on temperature type, the market is segmented into frozen and chilled. Based on storage, the market is segmented into bulk storage, production stores, and ports. Based on application, the market is segmented into food and beverages, pharmaceuticals, and others. Based on region, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
How does Global Trade Influence the Frozen Storage Market?
The frozen segment holds the largest market share due to its widespread use in preserving perishable goods like meat, seafood, ready-to-eat meals, and dairy products. These products require sub-zero temperatures (typically below –18 °C) to maintain shelf life over long durations, especially during international trade and extended storage. The demand for frozen processed foods, along with global supply chains and food security concerns, supports the dominance of this segment.
As per cold storage market forecast, chilled segment is growing at a faster rate due to rising consumption of fresh produce, beverages, dairy, and pharmaceuticals that require temperature control between 0 °C and 10 °C. Urbanization, increased demand for fresh and organic products, and the growth of online grocery delivery services are fueling this trend. Additionally, the pharmaceutical sector's need for precise temperature conditions for vaccines and biologics is accelerating investments in chilled storage solutions.
How Does Bulk Storage Support Global Supply Chains?
As per the cold storage market outlook, the bulk storage segment is dominating the market. Bulk storage facilities are designed to hold large volumes of perishable goods, often used by food processing companies, distributors, and retailers. These facilities serve as centralized storage points, making them ideal for long-term inventory management of frozen and chilled goods. The dominance of this segment is supported by its scalability, cost-efficiency, and widespread use in global supply chains and food security programs.
As per cold storage market analysis, production stores are growing at a faster pace due to rising demand for integrated cold storage solutions located near or within food processing units. These stores ensure immediate preservation of goods after production, reducing spoilage and improving shelf life. As just-in-time manufacturing and demand for fresh and processed food rise, manufacturers are increasingly investing in on-site or near-site cold storage to support fast-paced distribution.
Global Cold Storage Market By Temperature Type (%)
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Cold Storage Market Regional Insights
How is the Cold Storage Market Positioned in North America?
As per regional outlook, North America holds a leading position in the global cold storage market, supported by robust infrastructure, advanced logistics networks, and rising demand for frozen and packaged food. The presence of key players, regulatory compliance for food safety, and heavy investment in automation technologies contribute to the market's maturity in the region.
Cold Storage Market in U.S.
The U.S. dominates the North America cold storage market due to the high consumption of processed and frozen foods, growing pharmaceutical cold chain needs, and advanced warehouse technologies. The surge in e-commerce grocery and meal kit services is further boosting the demand for temperature-controlled logistics and large-scale frozen storage facilities.
Cold Storage Market in Canada
As per regional forecast, Canada is experiencing growing demand for cold storage driven by expanding agri-food exports, seasonal produce storage, and government efforts to enhance food supply security. Investments in cold warehousing infrastructure and energy-efficient systems are increasing, particularly in regions like Ontario and British Columbia.
What is Fueling the Growth of the Cold Storage Market in Asia-Pacific?
Asia-Pacific is the fastest-growing region in the cold storage market, propelled by rapid urbanization, population growth, and increasing demand for processed food and pharmaceuticals. The region also benefits from rising exports and government-backed improvements in logistics and cold chain infrastructure.
Cold Storage Market in Japan
As per industry analysis, Japan’s cold storage sector is highly developed, with strict temperature control standards and widespread use of automation. The country has a strong demand for cold chain services in seafood, pharmaceuticals, and convenience foods. Aging demographics and increasing health awareness are also boosting demand for temperature-sensitive products.
Cold Storage Market in South Korea
South Korea is witnessing rapid growth in cold storage facilities due to the rise in online grocery platforms, demand for imported foods, and export-oriented seafood and biotech industries. Advanced IoT-based monitoring systems and energy-efficient warehousing are being integrated into the sector to improve operational efficiency.
How is the Cold Storage Market Developing in Europe?
Europe’s cold storage market is growing steadily due to strict food safety regulations, sustainability mandates, and increasing pharmaceutical logistics needs. Cold storage providers in the region are focusing on energy-efficient and automated facilities to meet regulatory and environmental standards.
Cold Storage Market in Germany
Germany leads the European cold storage market, supported by a strong food processing sector, large export volumes, and pharmaceutical distribution. Adoption of smart warehousing technologies and green energy systems is rising, driven by both compliance and operational cost concerns.
Cold Storage Market in UK
The UK is witnessing expansion in cold storage capacity, especially due to post-Brexit logistics restructuring and the rise of online grocery retail. Demand for frozen ready meals and chilled dairy products has grown significantly, prompting investment in flexible, modular cold storage solutions.
Cold Storage Market in Italy
Italy's cold storage sector is supported by its rich agricultural output, processed food exports, and demand for chilled wine, dairy, and meat products. Growth is also seen in pharmaceutical cold chain logistics, especially for vaccines and temperature-sensitive biologics, leading to increased investments in regionally distributed cold warehouses.
Global Cold Storage Market By Geography
- Largest
- Fastest
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Cold Storage Market Dynamics
Cold Storage Market Drivers
Rising Demand for Perishable Food Logistics
- The cold storage market is being significantly driven by the increasing global demand for perishable food items. Consumers are shifting toward fresh, organic, and ready-to-eat products that require reliable temperature-controlled handling throughout the supply chain. This market trend is pushing grocery retailers, food manufacturers, and online delivery platforms to expand their cold storage capacities to maintain freshness, reduce waste, and comply with food safety standards.
Expansion of Pharmaceutical Cold Chain Needs
- The rapid growth of biologics, specialty drugs, and global vaccination programs has heightened the need for cold storage infrastructure in the pharmaceutical sector. These products are highly temperature-sensitive, requiring precise, uninterrupted cold chain logistics. As healthcare systems and biotech firms scale up operations, cold storage providers are responding by investing in validated, pharma-grade warehousing and transport systems.
Cold Storage Market Restraints
High Energy Consumption and Operating Costs
- Cold storage facilities consume substantial energy to maintain constant low temperatures, especially in regions with high ambient heat or aging infrastructure. Electricity costs make up a major portion of operational expenses. As energy prices rise and environmental regulations tighten, operators are under pressure to adopt energy-efficient systems or risk losing competitiveness and profit margins.
Infrastructure Limitations in Emerging Markets
- In developing countries, cold storage market growth is hindered by inadequate infrastructure. Many regions still struggle with unreliable power supply, poor transportation links, and outdated storage equipment. These limitations result in high spoilage rates, inefficiencies, and missed opportunities in key sectors like agriculture, fisheries, and healthcare.
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Cold Storage Market Competitive Landscape
The cold storage industry is becoming increasingly consolidated, with major players like Lineage Logistics and Americold Realty Trust leading through aggressive acquisition strategies and global expansion. These companies have built extensive networks of temperature-controlled facilities, offering end-to-end cold chain solutions across multiple regions.
As per market strategies, in 2024, Lineage Logistics made headlines by going public in July with a $4.4 billion IPO, the largest of the year, signaling its intention to scale further and invest heavily in infrastructure and technology.
In recent years, the cold storage industry has seen a surge in innovative startups focused on transforming traditional warehousing with smart, sustainable, and data-driven solutions. These companies are leveraging technologies like IoT-based temperature monitoring, AI-powered energy management, and autonomous drones for inventory tracking to optimize operations in cold environments. Unlike conventional providers, these startups often specialize in modular cold storage units, mobile cooling systems, or niche services such as pharmaceutical cold chains.
- Vaara (Founded in 2022): Vaara was founded in 2022 with the objective of transforming cold chain logistics through portable, battery-powered refrigerated containers. The startup focuses on creating smart, self-contained cold storage units that can operate without traditional refrigerated vehicles. These containers are designed for flexibility and sustainability, offering real-time temperature monitoring and cellular connectivity to maintain cold chain integrity during urban and last-mile deliveries.
- Figorr (Founded in 2019): Figorr, originally launched as Gricd in 2019, aims to enhance cold chain transparency and efficiency through IoT-enabled monitoring solutions. The company's core objective is to reduce losses in healthcare, agriculture, and food sectors by providing real-time data on temperature, humidity, and location. By ensuring that perishable products remain within safe conditions, Figorr supports quality assurance and reduces spoilage in regions with underdeveloped cold storage infrastructure.
Top Player’s Company Profiles
- Americold Realty Trust
- Vertical Cold Storage
- Gather AI
- Lineage Logistics
- United States Cold Storage (USCS)
- NewCold
- Agro Merchants Group (now part of Americold)
- Burris Logistics
- Frialsa Frigorificos
- Nichirei Logistics Group Inc.
- Henningsen Cold Storage
- Snowman Logistics
- Congebec Logistics
Recent Developments in Cold Storage Market
- In March 2025, Americold Realty Trust expanded its U.S. operations by acquiring a large-scale cold storage facility in Houston, Texas. The facility includes over 10.7 million cubic feet of cold storage space, with adjacent land earmarked for future expansion. This acquisition is part of Americold’s strategic effort to strengthen its presence in high-demand regions and support growing grocery retail partnerships.
- In April 2025, Vertical Cold Storage completed its acquisition of Arctic Logistics, a Michigan-based cold chain logistics provider. This marks the company’s fifth acquisition within a year, significantly enhancing its capacity, blast-freezing capabilities, and cross-border cold chain services. The deal positions Vertical Cold as a top-tier player in North America’s cold storage industry.
- In November 2024, Gather AI introduced a drone-powered inventory monitoring solution specifically designed for freezer and cold storage environments. The technology allows for autonomous real-time scanning, lot tracking, and expiration monitoring within harsh, low-temperature warehouses. This innovation helps reduce labor costs and increase inventory accuracy, supporting the market’s shift toward automation.
Cold Storage Key Market Trends
- Integration of AI and Automation Technologies: Technological advancements are reshaping how cold storage facilities operate. AI, IoT, and automation are being used to monitor temperature in real time, predict maintenance needs, and manage inventory with greater accuracy. In 2024, multiple cold storage companies rolled out AI-powered cooling systems that adjust compressor loads to optimize energy use, reducing operational costs, and improving sustainability outcomes.
- Rising Focus on Sustainability and Green Operations: Sustainability is becoming a core focus in cold storage strategies. Companies are shifting to eco-friendly refrigerants, solar-powered infrastructure, and thermally efficient warehouse designs to reduce their carbon footprint. Investors and clients alike are favoring operators who demonstrate a commitment to green building standards and low-emission operations, making sustainability both a regulatory and market-driven imperative.
Cold Storage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, key drivers of market growth include the increasing global demand for food and drugs and an increase in investments in advanced cold chain's logistics technologies. The market undergoes stable and significant growth, which is driven by the increasing demand for temperature-controlled logistics in industries such as food and drink, drugs and chemicals. The world’s population is on the rise and so is urbanization, which has significantly increased the need for perishable goods, which includes fruits and vegetables, dairy, and even frozen goods. With consumers growing quality and convenience conscious, food retailers and manufacturers have no choice but to invest in effective cold storage solutions to keep their food products fresh for longer periods. Technological advances, especially in automation, IoT monitoring and AI-operated energy optimization, shape operational models, improve efficiency, and lower costs. The global cold storage market is highly saturated with operational challenges owing to huge energy consumption, maintenance and radical cooling systems’ costs. Such costs are likely to compress the profit margins for the operators, especially the small ones which will affect their quest to put in place the essential infrastructural changes, thereby curtailing the growth prospects of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 161.5 Billion |
| Market size value in 2032 | USD 727.33 Billion |
| Growth Rate | 18.2% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cold Storage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cold Storage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cold Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cold Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cold Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cold Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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