Europe Cold Storage Market Opportunities, Forecast, Size, Competitive Analysis (2022-2030)
The Europe cold storage market was valued at US$ 27,314.27 million in 2022 and is expected to reach US$ 91,055.74 million by 2030; it is estimated to register a CAGR of 16.2% from 2022 to 2030.
Increasing Demand for Convenience Food Among Consumers Drives Europe Cold Storage Market
The global market for processed, canned, and ready-to-eat food items is experiencing a significant surge in demand. This trend is a direct result of a growing population, increasing urbanization, rising disposable incomes, and the pervasive busy lifestyles of consumers worldwide. These convenience foods fundamentally require precise storage conditions to maintain their quality and safety for consumption. The paramount importance of cold storage facilities is undeniable, as processed foods face a high risk of spoilage within days or weeks if not properly preserved. The maintenance of optimal temperatures and appropriate storage conditions is crucial for extending the shelf life of processed or canned food. Over the years, consumer lifestyles have undergone a drastic transformation, and the growing number of working individuals is a primary catalyst for the cold storage market. Furthermore, enhanced marketing exposure of processed food is effectively attracting a younger demographic towards its consumption. This surge in demand for canned and processed food is significantly boosting the global need for cold storage facilities. For example, in 2021, the food processing sector in Germany produced around US$ 203 billion in revenue, representing 5.8% of the country’s GDP. Meat (24%), dairy (15.5%), bakery (9.4%), confectionery and long-life bakery products (7.8%), and processed fruits and vegetables (6.3%) were the top subsectors by value. Thus, the increasing consumer inclination toward processed food is acting as a major driver for the cold storage market.
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Europe Cold Storage Market Overview
The cold storage market has benefited significantly from an increasing population, rising consumer income, and a growing preference for processed and canned food. The popularity and vital importance of cold storage facilities have soared in recent years, fueled by increased expenditure on convenience and frozen food, probiotics, pharmaceuticals, and fresh produce. Various industries, including food & beverages, pharmaceuticals, and chemicals, rely on cold storage facilities to preserve their products. In the food industry, the mounting demand for frozen and fresh foods has made cold storage facilities indispensable for preserving product freshness and preventing spoilage. The pharmaceutical industry immensely depends on cold storage to conserve the effectiveness of temperature-controlled vaccines and drugs.
Europe Cold Storage Market Segmentation
Europe Cold Storage Market By Application
Dairy Products
Meat and Seafood
Fruits and Vegetables
Pharmaceuticals
Processed Food
Europe Cold Storage Market By Temperature Type
Chilled and Frozen
Europe Cold Storage Market Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Europe Cold Storage Market leaders and key company profiles
Nichirei Corp
Americold Realty Trust Inc
Lineage Logistics Holdings LLC
NewCold Cooperatief UA
Constellation Cold Logistics SARL
Chiltern Cold Storage Group Ltd
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