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The Cool Truth about Cold Storage
Once upon a time, families would dine on from-scratch meals, with products to make those meals coming from the local grocery store. These days, however, busy consumers are turning more to online shopping. Meanwhile, food sources are more globalized than they’ve been in the past.
This has had a positive impact on industrial’s cold-storage sector. In quoting Research and Markets, Cushman & Wakefield indicated that the global cold storage market was valued at $190 billion in 2024 and is anticipated to grow at a compound annual growth rate of 17% through 2030.
To obtain clarity on where the sector is going, Cushman & Wakefield cold storage experts Greg Millerd, Stephen Fife and Mike Schaeffer shared their insights and outlooks in a recently released article.
Defining Cold Storage
The experts explained that cold-storage facilities are specialized, often purpose-built structures that have the goal of storing various products at controlled temperatures, generally ranging from -20 to 55 degrees Fahrenheit. Their design features 100-foot tall clear heights, special floor systems piped with glycol, vapor barriers to prevent condensation and refrigerated cold-dock areas, among other attributes.
The different types of cold storage facilities include:
- Cool facilities
- Freezer facilities
- Cool or frozen cross dock
- Tri-temp facilities
When choosing the right location for a cold storage facility, developers will consider location, logistics, power supply and zoning requirements.
Cold Storage Trends
The experts noted that consumer preferences drive demand (or lack thereof) in the cold storage industry. Families continue to rely on frozen foods because they’re convenient and reasonably priced. Furthermore, according to the American Frozen Food Institute, frozen food is making its way onto menus and fast-casual restaurants.
Meanwhile, the five states with the largest gross general warehouse capacity (in million cubic square feet) were:
- California (369.8)
- Washington (294.3)
- Wisconsin (289.9)
- Texas (262)
- Florida (236.2)
The Future of Cold Storage
While there has been a move toward fresh, less-processed foods, some food companies are introducing products that appeal to health-conscious, time-strapped consumers. Furthermore, as world economies recover following the pandemic, U.S. trade activity will increase, which will help with the cold storage industry’s growth.
