US Cold Storage Market Growth Insights| 2030
The US cold storage market size was valued at US$ 40,972.22 million in 2022 and is projected to reach US$ 148,623.44 million by 2030; it is expected to register a CAGR of 17.5% during 2022–2030.
Analyst Perspective:
Cold storage warehouse operators and end users are the main stakeholders operating in the US cold storage market ecosystem. The proper maintenance of processed or refrigerated food helps products remain fresh and last long. The cold storage facility is not only required at the time of product manufacturing and processing but also while packaging. These processes require proper temperature, appropriate storage conditions, and systematic product management. Therefore, storage providers hold a potential share of the US cold storage market. Americold Logistics Inc., Lineage Logistics LLC, United States Cold Storage Inc., Interstate Warehousing Inc., Newcold Cooperatief, Kloosterboer, Arcadia Cold Storage & Logistics, CTW Logistics, Burris Logistics, and VersaCold Logistics Services are among the key cold storage facility providers operating in the market. Food product producers, pharmaceutical companies, supermarkets, hypermarkets, and hospitals are a few major end users of cold storage facilities. The rising number of products, such as canned food products, processed food products, inflammable chemical products, pharmaceutical products, and beverages, are likely to provide new opportunities to the US cold storage market players during the forecast period.
Market Overview:
Cold storage facilities help in ensuring the integrity, freshness, and safety of perishable products. It is an exclusive facility used to store temperature-sensitive goods or products. The rising consumer preference for processed and easy-to-cook canned food boosts the demand for cold storage facilities. In addition, the growing adoption of omnichannel grocery shopping and the proliferation of online shopping are benefitting the US cold storage market globally. Consumers are considering online shopping for groceries as it is safe and helps save time. The booming food & beverages sector, due to growing demand for canned and frozen food products, along with development in the pharmaceutical sector, is also propelling the US cold storage market growth.
The growing emergence of quick commerce services is one of the major trends driving the need for cold storage across third party logistics (3PL) warehouses that are majorly utilized for last-mile delivery across different regions. Therefore, the high adoption of last-mile delivery across the US is likely to drive the demand for cold warehouses in the coming years. Further, the rise in the number of internet users, integration of artificial intelligence (AI) and machine learning (ML) into online grocery delivery mobile applications, and improved user interfaces that offer better product ordering experiences to customers are a few other factors boosting the last-mile delivery (LMD) sector. The LMD sector provides its customers with access to their respective daily needs in a specific short period. A few of the products that are delivered through LMD or quick commerce are beauty and personal care, fruits and vegetables, packed food and beverages, staples, dairy products, and many other daily life products. The importance of cold storage in the LMD sector has become one of the major demanding factors that is generating constant demand for cold storage warehouses across different parts of the US.
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US Cold Storage Market: Strategic Insights
Market Size Value in US$ 40,972.22 million in 2022 Market Size Value by US$ 148,623.44 million by 2030 Growth rate CAGR of 17.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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US Cold Storage Market: Strategic Insights
| Market Size Value in | US$ 40,972.22 million in 2022 |
| Market Size Value by | US$ 148,623.44 million by 2030 |
| Growth rate | CAGR of 17.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Rise in Food Waste is Driving US Cold Storage Market Growth
Cold storage facilities can reduce the share of food product waste, as they play a crucial role in supply chain management. According to The Insight Partners Analysis, more than 2.67 million metric tons of food is wasted every year globally, wherein the US wastes more food than any other country worldwide. More than 54.43 million metric tons of food is wasted across the US annually, which is nearly 325 pounds of food waste per person across the country. Such estimates show that ~40% of the total US food supply gets wasted every year. The proper usage of cold storage facilities can reduce the ratio of food wastage as it can preserve and increase the shelf life of dairy, meat, fish, seafood, and processed food products. Optimal usage of cold storage helps food business entities improve their business management. It can reduce the risk of wasting perishable food items for longer periods and also protect the freshness. Moreover, the US Department of Agriculture (USDA) and the US Environmental Protection Agency (EPA) have set their goals to reduce food waste by half across the country by 2030. The rising concern about food waste and its impact on the environment, food business, and the overall economy is boosting the need for cold storage facilities, which is a major driving factor for the US cold storage market.
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Segmental Analysis:
In terms of application, the US cold storage market is categorized into dairy, fish, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. The meat and seafood segment is anticipated to hold a significant US cold storage market share by 2030. The rise in inclination toward processed food and the busy lifestyle of consumers are boosting the requirement for products with a longer shelf life as well as convenient food products, which creates the demand for cold storage facilities. In addition, the growing need for online delivery services and the rising population are boosting the demand for cold storage to store dairy products, meat and seafood, processed foods, and pharmaceutical items, among others.
Cold storage for meat and seafood involves inspecting the products at a controlled room temperature between 8°C and 12°C at the time of dispatch, which ranges from approximately 2°C to 4°C. Raw meat ought to be stored between -2°C and 2°C. All carcass meats should be unwrapped and hung so that air can circulate them, ideally at 1°C in a standard fridge and 3°C in a walk-in refrigerator. Seafood, when freshly caught, has a good taste and eating quality, which ultimately deteriorates each day, making it unhealthy for consumption. Seafood is stored in cold storage, maintaining an ideal temperature so that the seafood is conserved and not spoiled for a longer period. Increasing demand for meat and seafood among consumers, a growing number of restaurants, eateries, and food businesses, and rising import-export of perishable products are a few factors boosting the demand for cold storage to keep the procured meat and seafood fresh for longer periods.
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Regional Analysis:
The scope of the US cold storage market report focuses on the US. Growing demand for processed meat and seafood, along with the rising need for pharmaceutical products, is also pushing the requirement for cold storage facilities in the US. The basic requirement of storing seasonal fruits, meat products, and dairy items for a long is fulfilled by proper cold storage facilities. In addition, the appropriate supply chain management of agricultural products, frozen meat and fish, medicine, and drugs has also surged the demand for cold storage facilities in the US.
The growing demand for meat, canned and processed food, and dairy products, owing to the rising population and changing lifestyle, is driving the US cold storage market. Increasing health consciousness and inclination toward vegan food products is also boosting the US cold storage market share. The requirement for cold storage facilities has amplified in recent years as customers are increasingly procuring online frozen food and groceries. The growing demand for frozen food and ready-to-make food products is boosting the demand for proper cold storage facilities in the US. The changing consumer preference toward convenience food, busy lifestyle, and rising awareness for maintaining food value is contributing to the growing US cold storage market size.
Key Player Analysis:
The US cold storage market analysis is carried out by identifying and evaluating key players in the market. Americold Logistics Inc., Lineage Logistics LLC, United States Cold Storage Inc., Interstate Warehousing Inc., Newcold Cooperatief, Kloosterboer, Arcadia Cold Storage & Logistics, CTW Logistics, Burris Logistics, and VersaCold Logistics Services are among the key players covered in the US cold storage market report. The report includes growth prospects in light of current US cold storage market trends and driving factors influencing the market growth.
Recent Developments:
Inorganic strategies such as mergers and acquisitions are highly adopted by companies in the US cold storage market. The companies adopt these strategies to expand their footprint across the world and to meet the growing customer demand. The market players present in the US cold storage market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings. A few recent developments by the key US cold storage market players are listed below:
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, Temperature Type, and Warehouse Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Cold storage facilities can reduce the share of food product waste, as they play a crucial role in supply chain management. According to The Insight Partners’ Analysis, more than 2.67 million metric tons of food is wasted every year globally, wherein the US wastes more food than any other country worldwide. More than 54.43 million metric tons of food is wasted across the US annually, which is nearly 325 pounds of food waste per person across the country.
As a majority of the cold storage facilities across the US are more than 40 years old, there is a need for modernization of the equipment and facilities for better and more efficient operations of the cold storage warehouses. Several companies, such as Americold and Lineage LLC, have been taking initiatives to upgrade their respective network of cold chain warehouses by either acquiring new warehouses of small players or establishing a new automated cold storage facility across the US.
The objective of an automated cold storage facility is to improve safety for both the employees and the products and streamline processes for better inventory management. Palletizers, conveyors, automated picking solutions, automated storage and retrieval systems (ASRS), automated truck loading/unloading systems, and other types of material handling equipment are used to shift large volumes of inventory with high precision.
Americold Logistics Inc, Lineage Logistics LLC, United States Cold Storage Inc, Interstate Warehousing Inc, Newcold Cooperatief, Kloosterboer, Arcadia Cold Storage & Logistics, CTW Logistics, Burris Logistics, and VersaCold Logistics Services are the key market players operating in the global US Cold Storage market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. US Cold Storage Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Storage Providers
4.3.2 End Users
5. US Cold Storage Market – Key Market Dynamics
5.1 US Cold Storage Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Food Waste
5.2.2 Growth in E-Commerce Grocery Sales Across the US
5.2.3 Increasing Demand for Convenience Food Among Consumers
5.3 Market Restraints
5.3.1 Adverse Impact of Cold Storage Facilities on Environment
5.3.2 Rising Cold Chain Prices
5.4 Market Opportunities
5.4.1 Construction of New Cold Chain Warehouses
5.5 Future Trends
5.5.1 Automation in Cold Storage Facilities
5.6 Impact of Drivers and Restraints:
6. US Cold Storage Market – US Market Analysis
6.1 US Cold Storage Market Revenue (US$ Million), 2022–2030
6.2 US Cold Storage Market Forecast Analysis
7. US Cold Storage Market Analysis – by Application
7.1 Dairy Products
7.1.1 Overview
7.1.2 Dairy Products: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Meat and Seafood
7.2.1 Overview
7.2.2 Meat and Seafood: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Fruits and Vegetables
7.3.1 Overview
7.3.2 Fruits and Vegetables: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Pharmaceuticals
7.4.1 Overview
7.4.2 Pharmaceuticals: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Processed Food
7.5.1 Overview
7.5.2 Processed Food: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
8. US Cold Storage Market Analysis – by Temperature Type
8.1 Chilled
8.1.1 Overview
8.1.2 Chilled: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Frozen
8.2.1 Overview
8.2.2 Frozen: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
9. US Cold Storage Market Analysis – by Warehouse Type
9.1 Public
9.1.1 Overview
9.1.2 Public: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Private and Semi-Private
9.2.1 Overview
9.2.2 Private and Semi-Private: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
10. US Cold Storage Market – Impact of COVID-19 Pandemic
10.1 Pre & Post COVID-19 Impact
11. Competitive Landscape
11.1 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 Americold Realty Trust Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Lineage Logistics Holdings LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 United States Cold Storage Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 NewCold Cooperatief UA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Burris Logistics Co
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Consolidated Transfer and Warehouse Co Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 EVO Logistics Worldwide Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Tippmann Group
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Arcadia Cold LLC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 ColdPoint Logistics
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. US Cold Storage Market Segmentation
Table 2. US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Table 3. US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 4. US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million) – by Temperature Type
Table 5. US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million) – by Warehouse Type
List of Figures
Figure 1. US Cold Storage Market Segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. US Cold Storage Market Revenue (US$ Million), 2022–2030
Figure 6. US Cold Storage Market Share (%) – by Application (2022 and 2030)
Figure 7. Dairy Products: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Meat and Seafood: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Fruits and Vegetables: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Pharmaceuticals: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Processed Food: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. US Cold Storage Market Share (%) – by Temperature Type (2022 and 2030)
Figure 13. Chilled: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Frozen: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. US Cold Storage Market Share (%) – by Warehouse Type (2022 and 2030)
Figure 16. Public: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Private and Semi-Private: US Cold Storage Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Company Positioning & Concentration
The List of Companies - US Cold Storage Market
- Americold Logistics Inc
- Lineage Logistics LLC
- United States Cold Storage Inc
- Interstate Warehousing Inc
- Newcold Cooperatief
- Kloosterboer
- Arcadia Cold Storage & Logistics
- CTW Logistics,
- Burris Logistics
- VersaCold Logistics Services
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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