Despite some markets cooling down, demand for cold storage continues to surge 🚀
The surge in cold storage demand can be attributed to many factors, and it’s essential to consider various industries and contexts. Here are some main reasons for the increased demand for cold storage:
- E-commerce and Online Grocery
- Globalization of the Food Supply Chain
- Pharmaceutical Storage
- Consumer Preferences
- Regulations and Quality Standards
- Technological Advancements
- Climate Change and Environmental Concerns
- Pandemic Impact
- Increased Demand for Specialty and Gourmet Products
According to Precedence Research, The North America cold storage market size was valued at USD 53,129.6 million in 2023 and is expected to hit USD 134,203.6 million by 2032, growing at a CAGR of 10.48% during the forecast period from 2023 to 2032. The U.S cold storage market size accounted for USD 43.67 billion in 2023 and is projected to reach around USD 107.58 billion by 2032, growing at a CAGR of 11.50% from 2023 to 2032. These are extraordinary growth projections when compared to other storage sectors with significantly lower CAGR forecasts.
Feel free to reach out to Portables360 to learn more about the market and/or discuss your ongoing cold storage needs.