At 16.9% CAGR, North America Cold Storage Market is Projected to be Worth US$ 179,605.36 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America cold storage market was valued at US$ 51,341.46 million in 2022 and is expected to reach US$ 179,605.36 million by 2030, registering a CAGR of 16.9% 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 North 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 hamper the growth of North America cold storage market.

Based on application, the North 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 31.2% market share in 2022, amassing US$ 16,002.81 million. It is projected to garner US$ 60,788.33 million by 2030 to register 18.2% CAGR during 2022-2030.

In terms of temperature type, the North America cold storage market is bifurcated into chilled and frozen. The frozen segment held 65.3% share of North America cold storage market in 2022, amassing US$ 33,510.48 million. It is anticipated to garner US$ 1,20,236.27 million by 2030 to expand at 17.3% CAGR during 2022-2030.

By warehouse, the North America cold storage market is segmented into public, and private & semi-private. The public segment held 67.5% share of North America cold storage market in 2022, amassing US$ 34,670.60 million. It is projected to garner US$ 1,17,354.68 million by 2030 to expand at 16.5% CAGR from 2022 to 2030.

Based on country, the North America cold storage market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.8% share of North America cold storage market in 2022. It was assessed at US$ 40,972.22 million in 2022 and is likely to hit US$ 1,48,623.44 million by 2030, registering a CAGR of 17.5% during 2022-2030.

Key players operating in the North America cold storage market are Nafta Frigorificos SA DE CV, Tippmann Group, Nichirei Corp, Frialsa Frigorificos SA de CV, Emergent Cold LatAm Management LLC, Americold Realty Trust Inc, Lineage Logistics Holdings LLC, Burris Logistics Co, United States Cold Storage Inc, and NewCold Cooperatief UA, among others.

• In 2023, Lineage LLC opened a newest facility in Lancaster, Texas. The Lancaster facility in Dallas County expanded Lineage's presence in Texas, which included roughly 20 facilities totaling around 192 million cubic feet of capacity. The 343,250-square-foot location at 4150 N. Dallas Avenue handled a range of client needs and desires, with more than 25,000 pallet spaces.

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