Cold storage is a commercial service used to store perishable products such as fruits, vegetables, fish, meat, etc. In the cold storage, a controlled environment is maintained to store those items for a longer period of time.
The cold storage can also be classified into two types depending upon the time for which the products are stored. Those can be short term storage or temporary storage and long term storage.
Advantages of Cold Storage:
Store products:
As mentioned above, cold storage helps in the storing of perishable products. Hence, the products that cannot be consumed at once do not get wasted. Rather those can be stored for a longer time and used accordingly.
Less wastage and more profit:
Cold storage helps in fewer wastage producers as well. Hence, the use of cold storage causes more profit to producers. Their products do not get wasted. Rather they get paid for it.
Market Analysis of Cold Storage business growth:
The forecasting period of analysis of the cold storage market is in between 2019 to 2025. So the global market of cold storage is expected to reach 212.54 billion US dollars by the year 2025.
The CAGR growth rate of the cold storage market all over the globe is expected to be 12.4%.
The increased demand for frozen foods and the growth of the organized retail sector have increased demand for cold storage and hence the expansion of the market globally.
If we talk about retail sectors’ organization, then in the emerging economies like India and China; the retail sector is getting organized positively. This trend can cause the expansion of the cold storage market all over the globe in the expected period. Also, the policies of government have come into existence regarding the de-regulation of foreign entries. These policies have caused an increase in Foreign Direct Investment (FDI) in our market’s organized retail sector.
Related Videos:- Cold storage, Cold Chain, Controlled Atmosphere Storage, Refrigerated Warehousing, Warehouse & Rural Godowns, Temperature Controlled Supply Chain
Important Findings from the cold storage market analysis Report:
- The increase in market demand for cold storage has come into a scenario because of environmental auditing, low carbon design, and energy-efficient cold storage.
- The segment of the public warehouse has been valued USD 48.7 billion in the year 2016.
- From the cold storage market, the segment of frozen products may grow at 11.7% as expected by the forecasters.
- Similarly, the processed food segment may experience a CAGR growth rate of 16.1% over the projected period.
- Considering the regional market, Asia Pacific dominates the global market from all aspects, including refrigerated storage capacity.
- India dominates the market globally if you consider cold storage capacity.
The international market analysis of cold storage business:
There are various countries like Japan, where the market of cold storage has been saturated. So they look for opportunities outside their country to expand their business all over the globe.
That’s when the international scope of business comes into the picture. Globalisation has resulted in uninterrupted business among countries. Likewise, in the market of cold storage, the scope of international trade and business has also a separate place.
Conclusion:
NPCS has put forward a detailed report regarding the market analysis of cold storage globally. You can study their reports to know the exact amount of investment that goes into the market and the exact outcomes and profits that the market of cold storage provides to its business holders.
This report has tried its best to provide as exact numbers as it can be. A detailed study of the report can provide you with in- depth knowledge of the cold storage market and what happens globally along with what can happen in the near future.
EVA_Art2021