Cold Storage Construction Market Size to Reach USD 18.59 Billion by 2027.Key players in the market include AmeriCold Logistics LLC, Lineage Logistics, Swire Group, AGRO Merchants Group, LLC, Nichirei Logistics Group Inc., Kloosterboer, NewCold Coöperat..
Cold Storage Construction Market Size to Reach USD 18.59 Billion by 2027 | Rapid Growth of Online Grocery Sales in Developing Economies is Driving the Industry Growth, says Emergen Research
Key players in the market include AmeriCold Logistics LLC, Lineage Logistics, Swire Group, AGRO Merchants Group, LLC, Nichirei Logistics Group Inc., Kloosterboer, NewCold Coöperatief U.A., VersaCold Logistics Services, Tippmann Construction / Interstate Warehousing, Inc. (a Tippmann Group Company) and Frialsa Frigorificos S.A. De C.V.
February 08, 2021 11:00 ET | Source: Emergen Research
Vancouver, British Columbia, Feb. 08, 2021 (GLOBE NEWSWIRE) -- The global cold storage construction market is projected to reach a market size of USD 18.59 Billion by 2027 at a CAGR of 13.8%, and revenue growth is expected to be supported by a robustly expanding food and beverages industry worldwide, according to recent analysis by Emergen Research. The trend of online shopping or placing food orders, and increasing availability of a vast range of food and beverage, meats, dairy, and other perishable products through online sales channels has been increasing significantly in the very recent past. Post the COVID-19 pandemic and subsequent lockdown, consumers have been more reluctant to shop at physical brick-and-mortar stores and retail outlets, and a steadily increasing number of consumers are leveraging the safety and convenience offered by e-commerce channels, and online orders have skyrocketed to new highs as a result.
Products require to be stocked at warehouses or in refrigerated settings, from where they can be home-delivered, and potential of spoilage is resulting in rapid need and growing demand for additional cold storage warehousing space. Food processing industries are increasingly adopting advanced and more efficient cold storage facilities owing to development and introduction of more advanced technologies such as energy-efficient walls, cascade refrigeration systems, high-speed doors, and automated cranes, which is supporting changing preferences and driving demand for cold storage construction.