Refrigerated Warehousing Market By Type Of Technology [Blast Freezing, Programmable Logic Controller (PLC), Vapour Compression System (VCS), Vapour Absorption System (VAS)], Temperature (Chilled And Frozen) Applications (Pharmaceuticals, Fruits & Vegetables, Meat & Seafood, Food & Beverages, Bakery & Confectionery, Milk & Dairy Products), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast To 2027
Newark, NJ, May 18, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global refrigerated warehousing market is expected to grow from USD 22.46 billion in 2019 to USD 49.93 billion by 2027, at a CAGR of 10.5% during the forecast period 2020-2027. North America is the most significant player in this market. This is primarily due to increasing demand for frozen food, and with urbanization and busy lifestyle, consumers prefer ready-to-eat meals for convenience and rise increasing demand for pharmaceuticals. Europe is also emerging rapidly after North America. Asia-Pacific is set to grow at the highest growth rate, due to urbanization, increase in demand for frozen food and beverages, and an increasing number of supermarkets and hypermarkets.
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Some of the key players of the global refrigerated warehouse market are Nichirei Logistics Group, Trenton Cold Storage, Kloosterboer, A.B. Oxford, VersaCold Logistics Services, Nordic Logistics & Warehousing, Conestoga Cold Storage, Partner Logistics, Cloverleaf Cold Storage, Burris Logistics, Congebec, Snowman Logistics, Interstate Cold Storage, Hanson Logistics, and Henningsen Cold Storage.
The type of technology segment includes blast freezing, Programmable Logic Controller (PLC), Vapour Compression System (VCS), Vapour Absorption System (VAS). The temperature segment includes chilled and frozen, where chilled is temperature above freezing point and frozen is temperature below freezing point. The frozen refrigerators dominate this market in terms of market share, owing to the rising demand for frozen food, meat, and seafood which require temperature below freezing point for storage. The demand for frozen food is increasing, particularly in the North American region. The application segment includes pharmaceuticals, fruits & vegetables, meat & seafood, food & beverages, bakery & confectionery, milk & dairy products. In fruits & vegetables account for the largest market share in this segment, owing to consumer becoming more health and diet conscious in North America and Europe.
Due to coronavirus, there a sudden rise in the demand of the cold storage and refrigerated warehousing, because consumers are panic buying and they need refrigerated warehouses to store the food items. Lineage, one of the dominant company in this industry, based in Novi, is hiring people as demand spiked and workers are working in shifts.
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About the report:
The global refrigerated warehousing market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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