US Cold Storage Market Poised to Grow at a Substantial Pace Owing to Higher Demand from Food and Beverage Industry

 
US Cold Storage Market Demand

The US cold storage market provides temperature-controlled facilities for storage of perishable food products along with other temperature sensitive items like food ingredients, pharmaceuticals, chemicals, and more. Cold storage facilities help in extending the shelf-life of products by maintaining optimum temperature ranges along with high air quality and moisture levels. Rapidly evolving customer demands, rising exports of perishables, and requirement for year-long product availability has augmented the demand for cold storage infrastructure in the country.

The US cold storage market is estimated to be valued at USD 41.38 Bn in 2024 and is expected to reach USD 92.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.

Key Takeaways

Key players operating in the US cold storage market are Lineage Logistics, Americold Logistics, U.S. Cold Storage, Inc., Interstate Warehousing, Inc., FreezPak Logistics, Conestoga Cold Storage, Burris Logistics, Vertical Cold Storage, ColdPoint Logistics. These players are focusing on capacity expansion and technological advancements to strengthen their foothold.

The US Cold Storage Market Demand provides numerous opportunities for players in terms of value-added services, multi-temperature facilities, automation & digital solutions. Moreover, rising exports of perishables from the country also present new avenues.

North America dominates the global cold storage market owing to high consumption of frozen food. However, Asia Pacific is expected to witness fastest growth on back of growing middle-class, changing dietary habits, and focus toward reducing food wastage in developing countries of the region.

Market drivers

Higher demand from the food and beverage industry acts as a key driver for the US cold storage market. Cold storage infrastructure plays a vital role in effectively storing, preserving and distribution of perishable food items. Growing household consumption of frozen food, dairy, meat and seafood has augmented the requirement for cold warehouse facilities from food processors and retailers. This rising demand from the food sector is estimated to propel the market growth over the forecast period.

PEST Analysis

Political: The US cold storage market is subjected to various regulations related to food safety and standards set by regulatory bodies like FDA and USDA. Changes in trade policies and tax policies also impact the market.

Economic: A stable economy and rising disposable incomes drive the demand for convenience and ready-to-eat food products in the country that require cold storage facilities. Higher domestic consumption and export opportunities benefit market players.

 Social: Changing lifestyles and busy schedules have increased the demand for packaged, ready-to-eat foods that need to be stored and transported at specified temperatures leading to market growth. Growing health-consciousness also supports cold storage of perishables.

Technological: Automation of warehouses and implementation of technologies like IoT, robotics and automated material handling equipment help achieve greater efficiency and reduce operational costs. Adoption of renewable energy sources in cold storage facilities further drives the market.

The Western region accounts for the largest market share currently mainly due to strong demand from states like California and abundance of food production and processing industries. The Northeast region is also a major market led by states like New York and Pennsylvania that have a large number of cold storage facilities.

The Southern region comprising states like Texas, Florida and Georgia is witnessing fastest growth supported by population growth, expanding logistics infrastructure and investments in food processing. Inland locations are also emerging as low-cost alternatives for cold storage facilities catering to the growing regional demand.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)



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