Warehouses are used by manufacturers, importers, exporters, distributors, etc. for storage of various types of products. Refrigerated warehouses are specialty warehouses; which are used to store perishable products under relatively cold temperatures – mostly between 0ºC-10ºC. Refrigerated warehouses are kept operational year round, even when personnel operating are not present.
Rising demand for processed foods, that needs to be stored in refrigerated conditions among individuals in developed and in some developing economies is a major factor boosting growth of the global refrigerated warehousing market. Also, growing health awareness, high demand for specialty refrigeration for seafood and meat are other factors anticipated to aid in growth of the global refrigerated warehousing market to a significant extent.
Moreover, technological advancements in warehousing equipment and increasing trend of automation in warehouses are other factors expected to fuel growth of the global refrigerated warehousing market over the forecast period.
High costs related to setting up, maintenance, and operation of refrigerated warehouses is a major factor hampering growth of the global refrigerated warehousing market. In addition, high competition between players in the market and increasing number of consolidation activities through mergers and acquisition are other factors anticipated to restrain growth of the global refrigerated warehousing market to a significant extent.
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The global refrigerated warehousing market report has been segmented on the basis of temperature, application, and region. On the basis of temperature into, chilled and frozen. On the basis of application into, fruits & vegetables, bakery & confectionery, milk & dairy products, meat, and others. On the basis of region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in Asia Pacific dominated the global refrigerated warehousing market in revenue terms, owing to presence of a number of refrigerated warehouses in emerging economies such as China, Japan, and India. Moreover, rising demand for processed foods among individuals in countries in the region coupled with increasing disposable income are other factors projected to aid in growth of the Asia Pacific market to a significant extent. The North America refrigerated warehousing market accounted for second-highest revenue share in the global market, followed by the markets in Europe, Latin America, and Middle East & Africa respectively.
Prominent players in the global refrigerated warehousing market include AmeriCold Logistics, Lineage Logistics, Preferred Freezer Services, John Swire, AGRO Merchants, Nichirei Logistics, Kloosterboer Services, Interstate Cold Storage, Cloverleaf Cold Storage, and Henningsen Cold Storage.