Cold Storage Market - Databook 2025 to 2034

The global cold storage market size surpassed USD 167.33 billion in 2024 and is predicted to reach around USD 458.27 billion by 2034, registering a CAGR of 10.6% from 2025 to 2034.

Highlights of the Cold Storage Market

• North America dominated the global market in 2024.
• Asia Pacific is anticipated to grow at the fastest rate in the market during the forecast period.
• By warehouse type, the private segment held a dominant presence in the market in 2024.
• By warehouse type, the public segment is expected to grow at the fastest rate in the market during the forecast period of 2025 to 2034.
• By temperature type, the frozen food segment accounted for a considerable share of the market in 2024.
• By temperature type, the chilled segment is projected to experience the highest growth rate in the market between 2025 and 2034.
• By application, the fish, meat, and seafood segment led the cold storage market.
• By application, the dairy segment is set to experience the fastest rate of market growth from 2025 to 2034.

Industry Valuation and Growth Rate Projection

Cold storage is a specialized warehouse for the storage of goods that require specific conditions of temperature to sustain their quality, air temperature, and shelf life, such as fresh food, frozen food, or pharmaceutical goods. Refrigerated warehouses operate within a range of 2-8 degrees Celsius to prevent loss of chill and stock fresh fruits, vegetables, and dairy products. In contrast, frozen warehouses function at temperatures below 0 degrees in order to avert any tissue integrity problems posed by bacterial growth.

Cold storage is in increasing demand, propelled by changing consumer tastes, a growing world population, and emerging investments in industries such as food and beverages, chemical products, pharmaceutical products, and technology. Cold storage warehouses are the lifeline for the food industry to keep food fresh and safe from being spoiled. The cold supply chain is highly used by the pharmaceutical industry to ship medicines and vaccines that require cold storage to ensure their effectiveness. The technological industry also takes its share from it.

Today, the world as a whole is integrated into the market along with technology in transportation and logistics. Therefore, with globalization, cold storage will have an increasingly higher demand to allow products to reach consumers at their doorsteps in as best condition possible while keeping the temperatures as may be required.

Cold Storage Market: Stats and Figures

• In 2020, there are 8186 cold storages with a capacity of 374.25 Lakh MT available in India for storing perishable horticulture produce like fruits and vegetables.
• The USDA estimates the size of the U.S. cold storage market to be roughly 3.0 billion usable cubic feet as of late 2023, down 1.2% from late 2021.
• Over the next 10 years, the U.S. population is expected to expand by nearly 12 million people. With a current inventory of roughly 1.9 square feet per capita, the increase in population alone would generate demand for nearly 24 million square feet of cold storage space.

How AI Has Benefitted the Market

• Management of Competing Priorities: AI assists carriers in resolving operational disputes through two-way reefer controls and predictive data.
• Improvement in Temperature Reporting: AI eliminates the frequent inspections in the case of reefer trailers' temperature.
• Get by Real-Time Inventory: Using real-time data, the AI algorithms find temperature anomalies.
• Data Mining & Compliance Monitoring: Data Mining involves analyzing huge amounts of temperature data trends and checking against regulatory compliance.
• Route Optimization: AI on the route monitors the actual movement against the planned route, checks for temperature compliance, and manages exceptions in real time, improving the efficiency of operations.

Industry Leader Announcements

• Greg Lehmkuhl, President and Chief Executive Officer of Lineage.:

“The Lineage network is stronger today with the closing of our acquisition of Henningsen Cold Storage, not only from a capacity and location standpoint but also because their values-driven culture aligns exceptionally well to ours.”

• Harld Peters, Senior Vice President for Europe at Lineage:

“We look forward to integrating their state-of-the-art facilities and diverse services so we can better serve our customers in Europe and around the world. It’s also clear that we have cultural alignment with a shared focus on leading the industry in sustainability and innovation.”

Geographical Insights

The global cold storage market is experiencing significant growth, with North America maintaining its position as the dominant region while the Asia-Pacific emerges as the most opportunistic market.

North America

• North America is the strongest continent in the world in terms of cold storage, and it will continue to dominate in a few years. The region's rapid growth can be directly attributed to the addition of cold storage facilities to the organized retail industry. The rapidly shifting taste of consumers and the main flavor of frozen and ready-to-eat products is where the difference is found in this upward push.
• With the quick pace of life and the demand for convenience in preparing meals, the need is growing like crazy for efficient cold storage infrastructures is growing like crazy. The other powerful building blocks for the market have been further established by enhanced purchasing power and the preference for maximum quality and safety in food by consumers, which drove both retailers and food suppliers to invest more in temperature-controlled solutions.

Asia-Pacific

• The new emerging and fastest-growing region in the cold storage business is Asia Pacific. Urbanization and changing eating habits have also proven to be growth accelerators in this part of the world.
• As the population slowly transits to packaged, frozen, and convenience food, the need becomes even more pressing for improved cold chain infrastructure. The existing trend toward organized retail channels and a more health-conscious segment of the population further boosts the application of modern cold storage technology across the region.

Europe

• Europe has a rather mature cold storage atmosphere still developing as of today. Food safety, adherence to regulatory provisions, and persistence in supply chain practices have generated momentum toward system upgrading for cold storage systems. The growing concern about environmental awareness has also spurred innovations in energy-efficient and eco-friendly refrigeration systems.
• A cold storage infrastructure in the region is very much catering to continuous growth by increasing demand for organic, frozen, and premium perishables, along with improvements in logistics and automation.

The table presents data on temperature-controlled warehouses owned, leased, or managed by Lineage, Inc. in the global warehousing segment for the year ending December 31, 2024.

Recent Developments:

• In April 2025, Dr. YS Parmar University of Horticulture and Forestry inaugurated an AI-enabled, solar-powered modular cold storage facility to enhance sustainable post-harvest practices and minimize crop losses.
• In April 2025, Quirch Foods, a Palladium affiliate, expanded its distribution network with the addition of a 146,000-square-foot warehouse, bringing it to 23 distribution centers across North America and the Caribbean.

Competitive Landscape

The market is moderately fragmented, with local players like Americold Logistics, Lineage Logistics Holdings, Nichirei Corporation, Burris Logistics, Agro Merchants Group, Kloosterboer, etc., wishing to take the time to edge their presence through investments, partnerships, acquisitions, and mergers. They also invest in product development and competitive pricing. These strategies will promote market growth and lucrative opportunities for market players.

• Company Name: Americold Logistics
• Year of Incorporation: 1903
• Headquarters: Atlanta, Georgia, U.S.

Americold is investing in new facilities, including a $79 million state-of-the-art facility development with strategic partners and a $34 million customer-driven expansion in Christchurch, New Zealand.

• Company Name: Lineage Logistics Holdings
• Year of Incorporation: 2012
• Headquarters: Novi, Michigan, United States

In 2023, Lineage Logistics' total revenue reached $5.34 billion, representing an increase from $4.93 billion in 2022. The company also experienced an 8.5% jump in its funds from operations (FFO).

• Company Name: Nichirei Corporation
• Year of Incorporation: 1942
• Headquarters: Chuo City, Tokyo, Japan

In 2023, Nichirei Corporation's revenue reached 680.09 billion Japanese Yen.