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US Cold Storage Market
US Cold Storage Market
The US Cold Storage Market size is projected to witness an expansion of 3.7% over the forecast period, i.e., 2019-2025. The growth is attributed to a number of vital factors, such as ongoing technological modernizations in the processing, packaging, and storage of putrescible food items.
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US Cold Storage Market Dynamics
US Cold Storage Market Dynamics
The growth in the US cold storage market is majorly attributed to the increasing demand for nutritious and qualitative food products. Also, the cold storage facilities provide several beneficial features, which include enlarged shelf life, more storage area, modifiable temperature to manage the moisture content of the products, reducing wastage, and conserving money by suppressing the spoilage of products. Further, the rising recognition of health has strengthened the market growth. Besides this, e-commerce grocery deliveries have witnessed huge growth. Moreover, as stated by the NAIOP, Inc., the Food Marketing Institute projected that the online groceries orders in the US accounted for 13% of total sales by 2022. Also, the operators and owners of US cold-storage warehouses are likely to perceive an annual surge of 4% from 2018 to 2022. These factors together will proliferate the market size.
The robust demand for biodegradable goods such as vegetables, fruits, processed foods, and dairy items will compel market growth. The rising mechanization in warehouse management with an increasing application of supervision instruments such as data loggers, tracking devices, RFID devices, and sensors to enhance the effectiveness of refrigerated storage performance will elevate the market growth.
However, the huge capital investment and inflated cold storage costs are projected to hamper the market growth. Additionally, the insufficient accessibility of competent labor for the implementation of technologies such as software systems, mechanized automation, and tracing systems in cold storage facilities will hinder the US Cold Storage Market opportunities.
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