Report : Europe Cold Storage Market Forecast to 2030 - Regional Analysis - by Application (Dairy Products, Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, and Processed Food), Temperature Type (Chilled and Frozen), and Warehouse Type (Public and Private & Semi-Private)
At 16.2% CAGR, Europe Cold Storage Market is Projected to be Worth US$ 91,055.74 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe cold storage market was valued at US$ 27,314.27 million in 2022 and is expected to reach US$ 91,055.74 million by 2030, registering a CAGR of 16.2% from 2022 to 2030. Sustainable refrigeration & storage technologies and increasing demand for convenience food among consumers are among the critical factors attributed to drive the Europe cold storage market growth.
The application of transcritical CO2 systems uses carbon dioxide (CO2) as a refrigerant, which has a very low ozone depletion potential (ODP). Unlike conventional refrigerants such as hydrofluorocarbons (HFCs) or hydrochlorofluorocarbons (HCFCs), which contribute to ozone layer depletion, CO2 does not damage the ozone layer. This characteristic makes cold storage transcritical CO2 refrigeration systems environmentally friendly and supports global efforts to phase out ozone-depleting substances. Transcritical CO2 systems have a substantially minimalized global warming potential (GWP) compared to many conventional cold storage facilities. GWP measures the ability of greenhouse gases to impact global warming over a definite period. CO2 has a GWP of 1, whereas HFCs commonly used in refrigeration systems have GWPs in the thousands or even tens of thousands. By using CO2 as a refrigerant, transcritical systems help moderate climate change and reduce the carbon footprint of cooling and refrigeration applications. Overall, the low environmental impact of cold storage transcritical CO2 systems are driving the market by supporting global environmental objectives. As the need for sustainable refrigeration and storage solutions continues to develop, cold storage transcritical CO2 technology offers a viable and smart option for businesses across various sectors. Furthermore, the application of cold thermal storage technology is also one of the environment-friendly alternatives for storage facilities that can provide opportunities for the cold storage market over the forecast period.
On the contrary, adverse impact of cold storage facilities on environment hurdle the growth of Europe cold storage market.
Based on application, the Europe cold storage market is segmented into dairy products, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. The meat and seafood segment held 31.0% market share in 2022, amassing US$ 8,457.33 million. It is projected to garner US$ 30,584.70 million by 2030 to register 17.4% CAGR during 2022-2030.
In terms of temperature type, the Europe cold storage market is bifurcated into chilled and frozen. The frozen segment held 65.3% share of Europe cold storage market in 2022, amassing US$ 17,849.70 million. It is anticipated to garner US$ 61,083.20 million by 2030 to expand at 16.6% CAGR during 2022-2030.
By warehouse type, the Europe cold storage market is segmented into public and private & semi-private. The public segment held 66.8% share of Europe cold storage market in 2022, amassing US$ 18,235.21 million. It is projected to garner US$ 58,874.13 million by 2030 to expand at 15.8% CAGR from 2022 to 2030.
Based on country, the Europe cold storage market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 32.7% share of Europe cold storage market in 2022. It was assessed at US$ 8,942.68 million in 2022 and is likely to hit US$ 32,060.73 million by 2030, registering a CAGR of 17.3% during 2022-2030.
Key players operating in the Europe cold storage market are Nichirei Corp, Americold Realty Trust Inc, Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Constellation Cold Logistics SARL, and Chiltern Cold Storage Group Ltd, among others.
- In 2024, Constellation Cold Logistics opened its 18,500-pallet expansion project in Nijkerk, The Netherlands. The expansion now has over 65,000 pallet spaces of frozen storage capacity, blast freezing, repacking facilities, and other value-added services.
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