San Francisco, 21
September 2018, The U.S.cold storage market size is expected to reach USD 19.69
billion by 2025, according to a new report by Grand View Research, Inc.,
exhibiting a 3.7% CAGR during the forecast period.
U.S. is widely regarded as one of the
leading markets in developing technologies responsible for effective management
of cold storage processes. The market is expected to offer growth opportunities
for the pharmaceutical industry. Inventory management of pharmaceutical goods
such as vaccines and medicines is an expensive process, which necessitates
adequate security measures to be undertaken for protection of product quality.
Advanced cold storage technologies that offer beneficial features, such as
advanced refrigeration technologies and monitoring and tracking systems of
various products like fruits and vegetables, significantly mitigate the
possibility of wastage of temperature-sensitive goods.
The growth of the cold storage market is
profoundly influenced by extensive demand for perishable goods worldwide,
availability of food and health supplies, and economic and political scenario.
For instance, trade conflicts between U.S. and China is expected to negatively
impact the growth of the cold storage market in U.S. In March 2018, U.S.
imposed a 25.0% tariff on steel and 10.0% on aluminum imported from China. The
latter country, in turn, announced a 15-25.0% tariff on products imported from
U.S., including pork, fruits, wine, nuts, and vegetables. These high tariffs
imposed on food and agriculture produce are expected to negatively affect
market growth.
Furthermore, outsourcing cold and frozen
storage operations offers manufacturers various cost benefits. This can help
eliminate costs associated with warehouse space and management, technology,
transportation, and labor. Operational costs such as employee salaries, heating
and cooling expenses, insurance, and electric power cost can also be reduced by
working with supply chain partners. As a result, manufacturers can increase
their profit margins and focus on core business activities such as quality
product manufacturing, expanding customer base, and satisfaction of customer
needs.
Further
key findings from the report suggest:
·
Rising demand for healthy food, import and
export of refrigerated foods, and increasing private sector participation are
expected to propel market growth
·
Provision of cold storage facilities
assists in extending the shelf life of perishable goods such as fresh
agricultural produce and frozen foods
·
Growing automation in warehouse management
is anticipated to spur the market over the forecast period
·
Numerous initiatives undertaken with the
objective of reducing wastage of post-harvest and processed foods is also
expected to boost the cold storage market
·
Some of the key industry participants are
Americold Logistics, LLC, AGRO Merchants Group North America, Burris Logistics,
Cloverleaf Cold Storage, Henningsen Cold Storage Co., Lineage Logistics
Holdings, LLC, Nordic Logistics, LLC, Preferred Freezer Services, United States
Cold Storage, and Wabash National Corporation.
Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research has segmented the U.S. cold storage
market based on warehouse type, construction type, temperature type,
application, and state:
U.S. Cold Storage Warehouse Type
Outlook (Revenue, USD Billion, 2012 - 2025)
·
Private & Semi-Private
·
Public
U.S. Cold Storage Construction Type
Outlook (Revenue, USD Billion, 2012 - 2025)
·
Bulk Storage
·
Production Stores
·
Ports
U.S. Cold Storage Temperature Type
Outlook (Revenue, USD Billion, 2012 - 2025)
·
Chilled
·
Frozen
U.S. Cold Storage Application Outlook
(Revenue, USD Billion, 2012 - 2025)
·
Fruits & Vegetables
·
Dairy
·
Fish, Meat, & Seafood
·
Processed Food
·
Pharmaceuticals
U.S. Cold Storage State Outlook
(Revenue, USD Million, 2012 - 2025)
·
Maine
·
Massachusetts
·
Vermont
·
New Jersey
·
New York
·
Pennsylvania
·
Delaware
·
Florida
·
Georgia
·
Maryland
·
North Carolina
·
South Carolina
·
Virginia
·
Illinois
·
Indiana
·
Michigan
·
Ohio
·
Wisconsin
·
Alabama
·
Kentucky
·
Mississippi
·
Tennessee
·
Iowa
·
Kansas
·
Minnesota
·
Missouri
·
Nebraska
·
North Dakota
·
South Dakota
·
Arkansas
·
Louisiana
·
Oklahoma
·
Texas
·
Arizona
·
Idaho
·
Mexico
·
Utah
·
California
·
Oregon
·
Washington
·
Others
Access Full
Press Release of this Report:
www.grandviewresearch.com/press-release/us-cold-storage-market-analysis
www.grandviewresearch.com/press-release/us-cold-storage-market-analysis
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
more information: www.grandviewresearch.com
