Cold Storage Construction Market Growth, Business Analysis, Revenue, Statistics
Increasing initiatives by government to promote adoption of cold storage facilities in order to reduce food wastage is among other major factors driving global cold storage construction market growth.
The global cold storage construction market is expected to reach a market size of USD 18.59 Billion by 2027, according to recent analysis by Emergen Research. High revenue growth of the market can be attributed to rising demand for processed and perishable food products. Increasing initiatives of governments to increase adoption of cold storage facilities to reduce food loss and wastage has been driving demand for and deployment of cold storage construction and services.
Key Highlights of Report
- In June 2020, Lineage Logistics, which is an innovative and well-established provider of temperature-controlled logistics solutions provider, announced completion of acquisition of Emergent Cold. The acquisition is expected to help the company in providing more advanced and innovative logistics services globally.
- The perishable food segment accounted for largest market share of 36.0% in 2019. Rising disposable income of consumers in developing economies has been resulting in increasing demand for perishable food products.
- Production stores segment revenue is expected to expand at a rapid CAGR of 14.4% during the forecast period. The increased need for protection of food products and raw materials against spoilage and contamination during various production processes has been driving demand for production stores.
- The refrigerated containers segment accounted for a significantly high revenue share in the cold storage construction market in 2019. The refrigerated containers are increasingly adopted by the grocers as they are cost-effective and offer the best solution for cold storage warehouses of temperature-sensitive products.
Asia Pacific accounted for largest revenue share contribution to the global cold storage construction market as compared to other regional markets in 2019. Growth of major online grocery platforms such as Suning.com and JD.com in China, and Big Basket in India has been driving increasing need for construction and deployment of larger and additional cold storage systems and facilities.
The Global Industry report is furnished with key market statistics organized in the form of charts, graphs, tables, diagrams, figures, and other pictorial representations. The report offers an exhaustive analysis of the key market aspects like market size, volume, share, current and emerging trends, production and consumption rate, and other key elements that offer an idea about the prospective expansion of the industry.
Key players in the market include AmeriCold Logistics LLC, Lineage Logistics, Swire Group, AGRO Merchants Group, LLC, Nichirei Logistics Group Inc., Kloosterboer, NewCold Coöperatief U.A., VersaCold Logistics Services, Tippmann Construction / Interstate Warehousing, Inc. (a Tippmann Group Company) and Frialsa Frigorificos S.A. De C.V.
Source Link https://www.emergenresearch.com/industry-report/cold-storage-construction-market