In the past, families used to enjoy homemade meals made with ingredients purchased from their local grocery store. However, in today’s fast-paced world, more and more people are turning to online shopping for convenience. As a result of this shift in consumer behavior and the globalization of food sources, there has been a positive impact on the industrial cold storage sector.
According to Research and Markets quoted by Cushman & Wakefield, the global cold storage market was valued at $190 billion in 2024 and is expected to grow at an annual compound rate of 17% until 2030.
To gain insight into where this industry is headed, Cushman & Wakefield experts Greg Millerd , Stephen Fife , and Mike Schaeffer shared their perspectives on current trends and future outlooks in a recently published article.
Cold storage facilities are specialized structures designed specifically for storing products at controlled temperatures ranging from -20 to 55 degrees Fahrenheit. These facilities typically have high clear heights (upwards of 100 feet), special floor systems with glycol piping for temperature control, vapor barriers to prevent condensation buildup,and refrigerated dock areas among other features.
There are different types of cold storage facilities including cool or freezer warehouses as well as tri-temp facilities that can accommodate both frozen and chilled products simultaneously. When selecting a location for these specialized buildings developers consider factors such as logistics infrastructure,power supply availability,and zoning requirements.
Consumer preferences play a significant role in driving demand within the cold storage industry.Frozen foods continue being popular due mainly because they offer convenience at an affordable price point.Moreover,frozen food items have also found their way onto menus even within fast-casual restaurants accordingtothe American Frozen Food Institute’s research findings.The top five states with largest gross general warehouse capacity (in million cubic square feet) were California(369.8),Washington(2943),Wisconsin(2899,Texas262andFlorida2362).
While there has been a growing trend towards fresh, less-processed foods, some food companies are introducing products that cater to health-conscious and time-strapped consumers. As the world economy recovers from the pandemic,U.S.trade activity is expected to increase which will further drive growth in the cold storage industry.
In conclusion,the future of cold storage looks promising as consumer preferences continue evolving,and global trade activity increases. With experts predicting continued growth in this sector,it’s clear that cold storage facilities play an essential role in meeting consumer demand for convenient and affordable food options.
