Cold Storage Market Regional Analysis:
North American Market Insights
North America industry is set to hold largest revenue share of 36% by 2035. The market growth in the region is also expected on account of the abundance of connected devices. For instance, it is anticipated that there will be 5.4 billion consumer and industrial Internet of Things (IoT) connections in North America by 2025.
The region's market has grown dramatically as cold chain logistics has become more popular in the organized retail sector. Also, the presence of major key players in the region including LINEAGE LOGISTICS HOLDING, LLC, Americold Logistics, Inc., and others is influencing the market growth in the region.
The US dominates the market in large part because of the size of the nation and the huge need for cold storage facilities. Also, the favorable business environment in this region is another factor impacting the market growth in the US.
APAC Market Insights
The APAC region will also encounter huge growth for the cold storage market through 2035 owing to the growing technological advancements in the region. Service providers can now tap into these growing markets by deploying innovative solutions that overcome transportation-related obstacles. This is made possible by advancements in refrigerated transportation and warehouse management, as well as government subsidies that have fueled the growth of the cold chain industry in the region.
Fresh food and products in China that are sensitive to temperature changes are in greater demand as the nation's population grows and becomes more urbanized. As a result, there is now more pressure on the supply chain to maintain product quality and safety as a result of this increase in demand, which increases the need for effective cold storage.
The cold storage market expansion in Korea can be due to the growing reliance on fruit and vegetable imports to meet its food needs, along with the growth of third-party logistics companies and the active involvement of the pharmaceutical sector.
People who support the selling of frozen goods frequently want to see a move to healthy life expectancy as the Japanese population matures. In hypermarkets, drugstores, and supermarkets, it also rose noticeably. Therefore, these factors are influencing the growth of the market in Japan.
