Report : South & Central America 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 15.4% CAGR, South & Central America Cold Storage Market is Projected to be Worth US$ 35,503.39 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America cold storage market was valued at US$ 11,300.82 million in 2022 and is expected to reach US$ 35,503.39 million by 2030, registering a CAGR of 15.4% from 2022 to 2030. Automation in cold storage facilities and increasing demand for convenience food among consumers are among the critical factors attributed to drive the South & Central America cold storage market growth.
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. These systems can be substantially advantageous from the perspectives of food quality, labor, safety, throughput, supervision, time-saving, and tracking. Automation in cold storage facilities increases productivity, as in subzero environments, only automation ensures high-frequency inflow and outflow series. Automated systems also save the operational time, energy, and cost. Automated cold storage warehouses ensure the protection of employees and products, and they also help reduce goods management mistakes. The automation system in cold storage facilities also increases the overall operational efficiency and reduces the level of human errors. Because of all these factors, automation in cold storage facilities is anticipated to be a major trend in the cold storage market during the forecast period.
On the contrary, adverse impact of cold storage facilities on environment hurdle the growth of South & Central America cold storage market.
Based on application, the South & Central America cold storage market is segmented into dairy products, meat and seafood, fruits and vegetables, pharmaceuticals, and processed food. The meat and seafood segment held 31.6% market share in 2022, amassing US$ 3,569.97 million. It is projected to garner US$ 12,344.13 million by 2030 to register 16.8% CAGR during 2022-2030.
In terms of temperature type, the South & Central America cold storage market is bifurcated into chilled and frozen. The frozen segment held 62.9% share of South & Central America cold storage market in 2022, amassing US$ 7,107.91 million. It is anticipated to garner US$ 22,950.68 million by 2030 to expand at 15.8% CAGR during 2022-2030.
By warehouse, the South & Central America cold storage market is segmented into public, and private and semi-private. The public segment held 66.8% share of South & Central America cold storage market in 2022, amassing US$ 7,545.02 million. It is projected to garner US$ 23,265.19 million by 2030 to expand at 15.1% CAGR from 2022 to 2030.
Based on country, the South & Central America cold storage market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 76.2% share of South & Central America cold storage market in 2022. It was assessed at US$ 8,609.66 million in 2022 and is likely to hit US$ 26,705.27 million by 2030, registering a CAGR of 15.2% during 2022-2030.
Key players operating in the South & Central America cold storage market are SuperFrio Armazens Gerais SA, Frialsa Frigorificos SA de CV, Friozem Armazens Frigoreticos Ltda, Emergent Cold LatAm Management LLC, and Americold Realty Trust Inc, among others.
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