Cold Storage Transportation Market Size - By Mode of Transportation (Roadways, Railways, Airways, Waterways), By Temperature Type, By Technology, By End-User, By Application & Forecast, 2024 - 2032

Cold Storage Transportation Market Size

Cold Storage Transportation Market size was valued at USD 126 billion in 2023 and is anticipated to grow at a CAGR of over 5% between 2024 and 2032. The increasing consumption of perishable goods, including fresh produce, dairy products, and pharmaceuticals, is a significant driver for the market. For instance, in January 2024, A.P. Moller – Maersk announced a significant expansion in cold chain logistics with a new 260,000 sq. ft. cold store facility in Mehsana, Gujarat. The INR 113 crore investment aims to enhance frozen food storage for HyFun Foods, featuring advanced temperature control, sustainable practices, and integrated logistics solutions.
 

The cold storage transportation market is experiencing robust growth due to technological advancements in refrigeration systems. Innovations such as energy-efficient cooling technologies, IoT-enabled temperature monitoring, and automated climate control systems enhance the efficiency and reliability of cold storage transportation. These technologies help in maintaining optimal temperature conditions, reducing spoilage, and ensuring compliance with stringent food safety regulations, thus driving market expansion.
 

Stringent food safety regulations and standards imposed by governments worldwide are driving the cold storage transportation market. Compliance with regulations such as the Food Safety Modernization Act (FSMA) and Good Distribution Practice (GDP) requires robust cold storage solutions that ensure the safe and secure transport of perishable goods. The need to adhere to these regulations has prompted investments in advanced cold storage technologies and infrastructure, fostering market growth.
 

Cold storage transportation involves significant expenses related to advanced refrigeration systems, energy consumption, and facility maintenance. The installation and upkeep of state-of-the-art cooling technologies and infrastructure can be costly. Additionally, maintaining optimal temperature conditions requires substantial energy input, which can drive up operational costs. These high costs can impact profitability and pose a challenge, especially for smaller operators or those with limited financial resources.
 

Navigating the complex and evolving landscape of food safety regulations presents a major challenge for the cold storage transportation market. Different regions and countries have varying regulations regarding the handling and storage of perishable goods, which can complicate operations for companies operating internationally. Ensuring compliance with these regulations requires continuous monitoring and adaptation, adding to operational complexity and costs.
 

Cold Storage Transportation Market Trends

The adoption of Automated Storage and Retrieval Systems (ASRS) is significantly influencing the cold storage transportation industry. Utilizing robotics and sophisticated software, ASRS automates the processes of storing and retrieving goods, which boosts operational efficiency and accuracy. By minimizing manual handling, these systems reduce errors, streamline inventory management, and optimize space within cold storage facilities. This technological advancement enhances operational speed and accuracy while also contributing to cost savings and improved adherence to stringent food safety regulations.
 

For instance, in June 2024, Agro Merchants Group invested in automated storage and retrieval systems to enhance its cold storage operations. This investment aims to improve efficiency and accuracy in handling temperature-sensitive products, ensuring better service for its customers in the food and pharmaceutical industries.
 

Cold Storage Transportation Market Analysis

Based on end user, the market is divided into food and beverages, healthcare, pharmaceuticals, chemicals, plants and flowers, cosmetics, and others. The food and beverages segment are expected to reach a value over USD 50 billion by 2032.
 

• There is a rising consumer preference for fresh and processed foods, which necessitates efficient cold storage solutions to maintain product quality and extend shelf life. This demand drives the need for extensive cold storage infrastructure and logistics.
   
• The globalization of food supply chains, including international trade and e-commerce, increases the requirement for advanced cold storage and transportation solutions to handle perishable items across long distances and various climates.

Based on technology, the cold storage transportation market is divided into vapor compression systems, air-blown evaporators, and eutectic devices. The air-blown evaporators segment is the fastest growing segment with a CAGR of over 5% between 2024 and 2032.
 

• Air-blown evaporators offer superior cooling efficiency by using air to enhance the heat exchange process. This results in more effective temperature control and reduced energy consumption compared to traditional systems, making them an attractive choice for cold storage applications.
   
• Air-blown evaporators are versatile and can be adapted to various cold storage environments, including those with space constraints. Their ability to provide uniform cooling across different types of storage setups drives their increasing adoption in diverse applications.

North America dominated the global cold storage transportation market in 2023, accounting for a share of over 35%. The region benefits from advanced infrastructure and technological innovations, which enhance efficiency and reliability in cold storage and logistics. The presence of major players and significant investments in state-of-the-art facilities contribute to the market's growth. Additionally, stringent food safety regulations and high consumer demand for perishable goods drive the need for robust cold storage solutions.
 

In the U.S., the cold storage transportation industry is particularly strong due to its well-developed infrastructure and significant investments in advanced refrigeration technologies. The country's large consumer base and high demand for a variety of perishable goods, including fresh produce, dairy products, and pharmaceuticals, drive the need for extensive cold storage facilities. The U.S. also benefits from stringent food safety regulations that require rigorous cold chain management, further fueling market growth.
 

In China, the cold storage transportation market is experiencing rapid growth driven by the country’s expanding urbanization and increasing consumer demand for perishable goods. The rise of middle-class consumers and the growing preference for fresh food items are fueling the need for advanced cold storage facilities.
 

South Korea's cold storage transportation industry is growing steadily, supported by a technologically advanced logistics sector and increasing consumer demand for high-quality, fresh products. The country's focus on maintaining stringent food safety standards drives the need for state-of-the-art cold storage solutions. Moreover, the rise of online grocery shopping and food delivery services is boosting demand for efficient and reliable cold chain systems.
 

In Japan, the cold storage transportation market is expanding due to a combination of factors including a high standard of food safety and a growing preference for fresh and processed foods. The country's advanced technological landscape supports the development of sophisticated cold storage solutions, enhancing efficiency and reliability. Japan's aging population and increasing demand for convenience foods also drive the market, as there is a heightened need for effective cold chain management.
 

Cold Storage Transportation Market Share

Americold Logistics and Lineage Logistics hold a significant share in the cold storage transportation industry. Americold Logistics and Lineage Logistics are leading players in the cold storage transportation market, commanding substantial market shares due to their extensive global networks and advanced cold storage solutions.
 

Americold Logistics stands out for its expansive network of temperature-controlled facilities, which enhances its ability to deliver efficient and reliable cold storage services across various regions. Lineage Logistics maintains a strong market presence with its comprehensive range of cold storage and logistics services. Lineage’s focus on integrating cutting-edge technology and expanding its facility footprint supports its significant market share.
 

Cold Storage Transportation Market Companies

Major players operating in the cold storage transportation industry are:

• Agro Merchants Group
• Americold Logistics
• Lineage Logistics
• Nichirei Logistics Group
• OOCL Logistics
• Swire Cold Storage
• VersaCold Logistics Services  
   

Cold Storage Transportation Industry News

• In April 2024, VersaCold Logistics Services announced the completion of its acquisition by Lineage Logistics. This acquisition is expected to strengthen Lineage’s position in the North American cold storage market and enhance its service offerings through VersaCold’s extensive network of temperature-controlled facilities.
   
• In February 2024, Americold Logistics announced plans to develop its first cold storage facility in Kansas City, Missouri, through a strategic collaboration with Canadian Pacific Kansas City (CPKC). The $127 billion facility will enhance Americold’s presence in the U.S. Midwest and support CPKC’s Mexico Midwest Express service, optimizing temperature-controlled logistics across North America.
   
• In September 2023, Swire Cold Storage announced the expansion of its cold storage facilities in Australia to meet the growing demand for temperature-controlled logistics. The expansion includes the addition of new warehouses equipped with advanced refrigeration technology to ensure the safe storage and transportation of perishable goods.
   

The cold storage transportation market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD billion) from 2021 to 2032, for the following segments:

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Market, By Mode of Transportation

• Roadways
• Railways
• Airways
• Waterways

Market, By Temperature Type

• Frozen
• Chilled

Market, By Technology

• Vapor Compression Systems
• Air-blown Evaporators
• Eutectic Devices

Market, By End-User

• Food and Beverages
• Healthcare
• Pharmaceuticals
• Chemicals
• Plants and Flowers
• Cosmetics
• Others

Market, By Application

• Dairy Products
  • Milk
  • Cheese
  • Butter
  • Yogurt
  • Ice Cream 
• Fruits & Vegetables
  • Fresh Fruits
  • Fresh Vegetables
  • Berries
  • Leafy Greens
  • Citrus Fruits
• Meat, Fish, and Seafood
  • Beef
  • Pork
  • Poultry
  • Fish
  • Shellfish
• Bakery & Confectionery
  • Baked Goods
  • Chocolates
  • Candies
  • Pastries
  • Doughs
• Pharmaceuticals
  • Vaccines
  • Biologics
  • Insulin
  • Blood Products
  • Specialty Drugs
• Chemicals
  • Industrial Chemicals
  • Specialty Chemicals
  • Agricultural Chemicals
  • Hazardous Materials
  • Laboratory Reagents
• Processed Food
  • Ready-to-Eat Meals
  • Frozen Foods
  • Canned Foods
  • Packaged Snacks
  • Sauces and Condiments
• Others
  • Cosmetics
  • Electronics
  • Art and Antiques
  • Medical Devices
  • Perishable Goods

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA