Demand for Industrial Cold Storage
The industry benefited from rising consumer spending levels and growing trade activity from 2015-2020, which increased the volume of goods being shipped and generated demand for industry storage services.
Temperature-controlled services include blast freezing and tempering. Additionally, although some downstream companies decided to manage their own warehouse facilities instead of outsourcing these functions to industry operators, this trend has not substantially hindered industry performance.
Shortage of Cold Storage in the U.S.
The quickly increasing demand for cold storage will have to be met with an increase in supply. According to real estate brokerage CBRE, the US will need an additional 100 million square feet of new cold storage space over the next 5 years.
