Asia-Pacific Cold Storage Market Survey Report 2024 Along with Statistics, Forecasts till 2032
The Asia-Pacific Cold Storage Market is pivotal in ensuring food security, reducing wastage, and enhancing the efficiency of the supply chain for perishable goods. As the nation grapples with increasing demand for fresh produce and processed foods, the cold storage sector emerges as a crucial player in maintaining the integrity of these products. This report delves into the dynamic landscape of the Asia-Pacific Cold Storage market, highlighting the trends and factors driving its growth.
The Cold Storage market in Asia-Pacific is experiencing significant growth, driven by rising consumer demand for fresh and frozen food products, advancements in cold chain logistics, and supportive government policies. The cold storage market share is valued at $143.5 billion in 2023. The cold storage industry is expected to grow from $163.59 billion in 2024 to $409.4 billion in 2032, registering a compound annual growth rate (CAGR) of 12.15% during the forecast period (2024-2032).
Key Drivers of Market Growth
Asia-Pacific growing population and rising incomes have led to increased consumption of perishable goods, such as fruits, vegetables, dairy products, and meat. This surge in demand necessitates efficient cold storage solutions to maintain product quality and safety from farm to fork.
Government Initiatives and Policies
The Indian government has launched various initiatives to boost the cold storage sector, including subsidies, grants, and tax incentives. Schemes like Pradhan Mantri Kisan Sampada Yojana (PMKSY) and the Mega Food Parks scheme aim to enhance cold storage infrastructure, supporting the development of a robust cold chain network across the country.
Technological Advancements
Advancements in refrigeration technologies and automation are driving the efficiency and reliability of cold storage facilities. Modern cold storage solutions offer precise temperature control, energy efficiency, and real-time monitoring, ensuring optimal conditions for different types of perishable goods.
Expansion of E-commerce and Food Retail
The rapid growth of e-commerce and food retail sectors has significantly boosted the demand for cold storage facilities. Online grocery platforms and organized retail chains require efficient cold storage solutions to manage inventory, reduce spoilage, and meet customer expectations for fresh products.
Key Players and Strategic Initiatives
Leading companies in the Asia-Pacific Cold Storage companies are focusing on expanding their facilities, adopting advanced technologies, and forming strategic partnerships to enhance their market presence. Key players include Lineage Logistics Holdings (US). Americold Logistics LLC (US). Nichirei Corporation (Japan), Kloosterboer (Netherlands), Tippmann Group (US), The United States Cold Storage (US), Henningsen Cold Storage Co. (US), VersaCold Logistics Services (Canada), Congebac Inc. (Canada), NewCold (Netherlands), Snowman Logistics Pvt Ltd (India), Wabash National Corporation (US), Cloverleaf Cold Storage (US). These companies are investing in modern cold storage solutions and expanding their reach to underserved regions, ensuring comprehensive coverage across the country.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America +1 628 258 0071
Email:sales@marketresearchfuture.com
Website:https://www.marketresearchfuture.com
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Russian
Romaian