According to a new market report by Technavio, the global market for cold storage is expected to grow by USD118.3bn between 2022 and 2027, at a CAGR of 13.47%. The market was worth USD48.71 billion in 2017. Rising consumer awareness of the need to reduce food waste, an increase in the consumption of frozen foods, and regulatory compliance will all contribute to market expansion.
Throughout the anticipated period, the market for meat and seafood will experience significant expansion. Meat and fish goods have a short shelf life, so refrigeration is necessary to preserve their quality. During the course of the projection period, the segment will experience significant market expansion due to the increased global meat consumption.
Research company Technavio has taken into account 15 major vendors, including Americold Realty Operating Partnership LP, Beijing Howcool Refrigeration Technology Co. Ltd., Burris Logistics, Changzhou Yuyan Refrigeration Equipment Co. Ltd., Coldman Logistics Pvt.Ltd., Commercial Cold Storage Group Ltd., Congebec Logistics Inc., Holt Logistics Corp., Interstate Cold Storage Inc., John Swire and Sons Ltd., Lineage Logistics Holdings LLC, NewCold Cooperatief UA, Nichirei Corp., Nilkamal Ltd., Nor AM Cold Storage Inc., RSA Global DWC LLC, Snowman Logistics Ltd., Stellar Development Foundation, VersaCold Logistics Services, and Wabash Valley Cold Storage.
Find out more at: https://www.technavio.com/