Cold Storage Market Size, Share, Growth Analysis, By Storage Type(Facilities/Services (Refrigerated Warehouse (Private & Semi-Private, Public), Cold Room), Equipment (Blast freezer), By Temperature Range(Chilled (0°C to 15°C), Frozen (-18°C to -25°C), Deep-frozen (Below -25°C)), By Application(Food & Beverages (Fruits & Vegetables, Fruit Pulp & Concentrates, Dairy Products (Milk, Butter), By Region - Industry Forecast 2024-2031

Global Cold Storage Market size was valued at around USD 98.6 billion in 2022 and is expected to rise from USD 119.5 billion in 2023 to reach a value of USD 434.2 billion by 2031, at a CAGR of 17.5% over the forecast period (2024–2031).

The expansion of the market has been driven by the growth in e-commerce retailing of fresh produce and increasing warehouse automation. There has been a rise in the use of apps enabling clients to order food within a short span of time and also track the time of delivery. Due to digital retailing, customers can now buy and access products and services from any place. Online purchases of perishable goods have created a trend that has brought forth both new opportunities and challenges. These include the need for low-cost, cutting-edge temperature monitoring devices to ensure the safety of fresh food products, automated warehouse facilities to manage inventories and lower per-item costs, and creative solutions to provide the vital last-mile delivery service. 

In addition, the growing popularity of on-line shopping has lowered the barriers that would otherwise inhibit the growth of brick-and-mortar businesses. In order to alleviate this hurdle, food and beverage retailers have employed certain business strategies such as offering click-and-collect, as well as home delivery services. Demand for temperature-controlled storage solutions is rising as food safety and quality become more and more important. Customers' knowledge of foodborne illnesses and businesses' desire to keep perishable goods fresh are driving this development. The US Department of Agriculture (USDA) began a new initiative in August 2024 to raise the bar for food safety regulations for frozen and refrigerated goods. The campaign focused on the importance of using proper cold storage techniques to keep food from deteriorating.

US Cold Storage Market is poised to grow at a sustainable CAGR for the next forecast year.