Los Angeles, January 6, 2020 -Demand for refrigerated warehouse is expected to rise in the coming years as industries, institutes, and commercial are poised to rise. QY Research has recently published a report titled “Global Refrigerated Warehouse Market Research Report 2019”, predicting the growth and opportunities that lie in the global market. According to the report, the global refrigerator warehouse market was worth US$27016 mn during 2018 and is expected to reach US$36482 mn by the end of 2025, registering a CAGR of 4.35% during the forecast period of 2019 to 2025.
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Food and Beverage Industry to Boost Demand for Global Refrigerated Warehouse Market
Refrigerated warehouses will witness a surge in demand as they provide solutions to rotting, sprouting, and damage by insects for the food and beverage industry. Controlled temperature plays a vital role in improving the shelf life of products in this particular industry. It is beneficial in stabilizing market prices with even distribution of goods in regards to time and demand. It is economical in operation and compensates the initial investment. It is used for multiple logistics transportation such as reefer truck, reefer ship, and reefer container. As they provide the exact temperature at which certain goods are needed to stored, it is expected to be adopted by rising number of industries.
Rising Trend of Aquaculture to Augment the Fish, Meat, and Seafood Segment in the Coming Years
The fish, meat, and seafood segment is expected to rise in demand during the forecast period as they are imported and exported throughout the world, which demands long periods of refrigeration. Demand for farmed fish, meat, and seafood is rising due to technological advancements that has resulted in aquaculture and meat production easy in various countries.
Cheap Labour Cost to Boost Asia Pacific’s Market
North America is likely to lead the global refrigerated warehouse market as it has the largest pharmaceutical industry in the world owing to government’s investment efforts in healthcare sector.
Asia pacific is also expected to rise in the global market as a promising market as it has cheaper labour cost, which allows many key players of various industries to outsource from this region.
United States Cold Storage (USCS) has recently opened its second refrigerator warehouse in Turlock, CA, which will serve as a dedicated location for Blue Diamond Growers, world’s leading almond processor and marketer.
The key players operating in the global refrigerator warehouse market are Lineage Logistics, Americold Logistics, United States Cold Storage, AGRO Merchants, Nichirei Logistics, Kloosterboer, NewCold Advanced Cold Logistics, VersaCold Logistics Services, Interstate Warehousing, and Frialsa Frigorificos.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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