Strategist Michael Antonelli joins Jared Blikre to break down the Fed decision and more at 2 P.M. ET Wednesday.
SAN FRANCISCO , June 17, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Cold Storage Construction – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What’s New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to our digital archives and MarketGlass Research Platform
Complimentary updates for one year
Edition: 10; Released: June 2022
Executive Pool: 456
Companies: 153 – Players covered include A M King; AmeriCold Logistics LLC; Burris Logistics; Hansen Cold Storage Construction; Lineage Logistics Holding, LLC; Nichirei Logistics Group Inc.; Primus Builders, Inc.; Stellar; Tippmann Group; United States Cold Storage, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Production Stores, Bulk Stores, Ports, Other Types); Application (Food & Beverage, Pharma & Healthcare, Chemicals, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
Complimentary Project Preview – This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Amid the COVID-19 crisis, the global market for Cold Storage Construction estimated at US$11.7 Billion in the year 2022, is projected to reach a revised size of US$19.3 Billion by 2026, growing at a CAGR of 14.2% over the analysis period. Production Stores, one of the segments analyzed in the report, is projected to grow at a 15% CAGR, while growth in the Bulk Stores segment is readjusted to a revised 13.8%. The cold storage space has been witnessing notable developments over the last several years due to the strong upsurge in demand for online grocery shopping as a result of changing consumer preferences. Cold storage construction has received a major impetus from the COVID-19 crisis that led pharmaceutical companies to come up with novel vaccines requiring storage as well as distribution at ultra-low temperature settings. While cold storage has experienced major uptick in construction activity in the recent months, the trend goes beyond the healthcare demand and attributed to several factors, primary online grocery shopping.
Online shopping for grocery items is a major driver ticking the demand for cold storage upwards even prior to the COVID-19 pandemic. Fueled by increasing popularity and consumer adoption coupled with pandemic-led favorable trends, online orders are estimated to account for about 10%-15% of the overall grocery shopping in 2022. The development is driving various companies to construct new cold storage facilities for preserving perishable food items and reducing spoilage. These facilities are playing an important role in accommodating massive surge in online grocery shopping. The construction activity is buoyed by surge in food sales in the recent years. The shift towards online grocery shopping was further fast-tracked by the COVID-19 crisis that altered consumer preferences and market conditions.
The scenario enabled the online platform in the grocery industry to report exponential growth, leading to increased demand for cold storage facilities. The COVID-19 infection risk prompted a large number of consumers to shun in-store grocery shipping and instead, consider the online channel to get these products directly delivered to their doorsteps. The growth is anticipated to result in construction of 75-100 million square feet of the cold storage space to meet prospective demand. The cold storage space is also benefitting from rising demand for frozen foods, mainly among health-conscious people. Frozen foods have received a major push from various studies that pointed towards the ability of frozen foods to effectively retain nutrients. Consumer uptick in demand for frozen foods, which was further accelerated by the COVID-19 pandemic, is poised to result in significant investments in cold storage facilities. Cold storage demand in the pre-pandemic scenario can be primarily contributed to significant popularity of the online channel for grocery shopping along with rising consumption of frozen foods for their nutritional and health-related benefits. The trend is slated to create huge requirement for warehouses capable of storing foods bought online. Continuous changes in shopping behavior of consumers are anticipated to result in gradual shift from traditional trips to grocery stores towards online platform. These trends have led to cold storage construction projects covering 4.5 million square feet of space, which are either completed or are underway.
Cold storage construction has also received a massive boost from increasing demand for various pharmaceutical products, including new COVID-19 vaccines, which require cold storage for storage and distribution. Driven by evolving consumer habits, industries such as pharmaceutical and food & beverage are facing high requirement of cold storage units for keeping items at cool or ultra-low temperatures. While cold storage facilities have been reporting high demand prior to COVID-19, the pandemic has played a pivotal role in accelerating cold storage development activity. COVID-19 vaccines remain one of the primary drivers of the cold storage demand in various countries. Some of the newly developed and prospective vaccines must be kept at sub-zero temperatures. The need to store and distribute vaccines at ultra-low temperature settings to maintain their efficacy and avoid spoilage has pushed the development of new cold storage units. For instance, the Pfizer-BioNTech COVID-19 vaccine is maintained at an ultra-low temperature of around minus 94 degrees Fahrenheit, while Moderna’s COVID-19 vaccine is kept at minus 4 degrees Fahrenheit. Offered frozen at minus 13 degree F to 5 degree F, the Moderna vaccine is required to be kept at very low temperature till its expiry date. On the other hand, the Pfizer-BioNTech COVID-19 vaccine is offered frozen at minus 112 degree F to minus 76 degrees F.
The vaccine must be kept at ultra-low temperature settings in specialized containers during its distribution and storage. These storage requirements have created strong need for advanced cold storage facilities for supporting vaccine distribution and rollout programs. The inadequate availability of ultra-cold freezer or cold storage units for these vaccines had prompted various contractors to announce new construction projects for satiating the unmet demand. The construction of several new cold storage facilities helped ultra-cold storage of pharmaceutical products and COVID-19 vaccines. More
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today
s busy business executives intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include – enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
Director, Corporate Communications
Global Industry Analysts, Inc.
Join Our Expert Panel
Connect With Us on LinkedIn
Follow Us on Twitter
Journalists & Media
View original content to download multimedia:https://www.prnewswire.com/news-releases/with-market-size-valued-at-19-3-billion-by-2026–its-an-encouraging-outlook-for-the-global-cold-storage-construction-market-301568445.html
SOURCE Global Industry Analysts, Inc.
Rogers knows a thing or two about making money in turbulent times.
A market rally attempt gained steam as Tesla jumped but investors should be wary. Fed chief Jerome Powell is on tap again.
Nio (NYSE: NIO) stock surged Tuesday morning as the broader U.S. market rose, and was trading 10.2% higher as of 12:23 p.m. ET. Ironically, the electric vehicle (EV) maker just got a massive price target downgrade, but investors right now appear to care less about what analysts think and more about what's happening in Nio's home market of China. On Tuesday morning, Citigroup analyst Jeff Chung slashed his price target on Nio to $41.10 per share from $87 a share, according to TheFly.com.
Last month, the annualized rate of inflation hit 8.6%, the highest in more than 40 years. Last week, in response, the Federal Reserve bumped up its benchmark interest rate by 75 basis points, the largest such hike since 1994. The combination of high inflation and aggressive tightening action by the central bank sent an already jittery stock market to its worst single week since the onset of the COVID crisis, and has economists talking gloomily about a repeat of the late 1970s and early 1980s, wh
Buffett's success is largely due to his unwavering ability to buy high-quality companies when the market is selling everything.
If you’re thinking of pulling your 401(k) out of the stock market, or you’re too terrified to invest more, you need to meet my friend Betty Badluck. Poor old Betty has had the worst luck of any stock market investor you’ve ever met. In the last 40 years she has invested in the stock market just six times.
(Bloomberg) — Jack Ma’s Ant Group Co. is poised to apply for a key financial license as soon as this month, according to people familiar with the matter, a sign that its lengthy overhaul following a squashed 2020 listing is getting closer to satisfying China’s financial regulators.Most Read from BloombergLiz Cheney Is Paying the Price in Her Home State for Crossing TrumpSwitzerland Imports Russian Gold for First Time Since WarThe World’s Bubbliest Housing Markets Are Flashing Warning SignsStock
Wall Street is nervous a recession is right around the corner. But analysts think some S&P 500 companies have sunk into one already.
Equities were set to give back gains seen at the start of the week, with recession worries and expectations for continued tighter Fed policy in focus.
(Bloomberg) — Oil plunged for the second time in a few days on concerns that a global economic slowdown will ultimately hobble oil demand. Most Read from BloombergLiz Cheney Is Paying the Price in Her Home State for Crossing TrumpSwitzerland Imports Russian Gold for First Time Since WarThe World’s Bubbliest Housing Markets Are Flashing Warning SignsStocks Surge After $2 Trillion Wipeout; Bonds Fall: Markets WrapElon Musk Sounds Off on Recession Risk, Twitter Deal and TrumpWest Texas Intermediat
STOCKSTOWATCHTODAY BLOG Diamondback Energy surged on Tuesday after the oil explorer said it would increase its base dividends from $2.80 to $3 per common share annually, a 7.1% jump, beginning at the end of the month.
(Bloomberg) — Stocks in Europe fell along with US futures and commodities amid ever-louder warnings that Federal Reserve rate hikes may lead to an economic downturn. Most Read from BloombergLiz Cheney Is Paying the Price in Her Home State for Crossing TrumpSwitzerland Imports Russian Gold for First Time Since WarThe World’s Bubbliest Housing Markets Are Flashing Warning SignsStocks Surge After $2 Trillion Wipeout; Bonds Fall: Markets WrapElon Musk Sounds Off on Recession Risk, Twitter Deal and
Yahoo Finance crypto reporter David Hollerith joins the Live show to explain the bounce back seen in bitcoin's pricing after weeks of volatility in the cryptocurrency space and Magic Eden's rise to prominence as a crypto marketplace.
Polestar, the electric-vehicle unit of Volvo Car, should begin trading under a new stock symbol this week if the SPAC merger is approved by shareholders.
(Bloomberg) — Retail investors dashed into Revlon Inc. again on Tuesday as a stronger appetite for risky assets led to a more than 30-fold jump in trading for the bankrupt cosmetics giant. Most Read from BloombergLiz Cheney Is Paying the Price in Her Home State for Crossing TrumpSwitzerland Imports Russian Gold for First Time Since WarThe World’s Bubbliest Housing Markets Are Flashing Warning SignsStocks Surge After $2 Trillion Wipeout; Bonds Fall: Markets WrapElon Musk Sounds Off on Recession
The S&P 500 just came out of its worst week since March 2020 and is still down by over 21% from the beginning of the year, with a move downward from 4,800 to under 3,800. The Real Estate Select Sector SPDR Fund (NYSEArca: XLRE) has dropped from $51.50 to $39.75, down about 22.5% for the year. That’s the benchmark for REITs and it’s not outperforming the market as a whole, an indicator that, in general, this sector is failing to provide investors with better returns than the stock market taken as
Investors are back to worrying that the Federal Reserve's aggressive plans to tighten monetary policy could lead the U.S. into a recession. Fed Chairman Jerome Powell appears before Congress on Wednesday.
The Federal Reserve will deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September, and won't scale back to quarter-percentage-point moves until November at the earliest, according to economists polled by Reuters. Last week the Fed hiked the federal funds rate by three-quarters of a percentage point, its largest rate increase since 1994, after official data just a few days earlier showed inflation unexpectedly rose despite expectations it had peaked. The latest poll results, released on Wednesday before Fed Chair Jerome Powell was due to appear before the Senate Banking Committee as part of his twice-yearly monetary policy testimony to Congress, show momentum is still behind the U.S. central bank doing more, not less, despite rising recession concerns and a steep sell-off in financial markets.
Jefferies Equity Research Analyst Brent Thill joins Yahoo Finance Live to discuss market volatility, tech stocks, and the outlook for investors.
The founder of ARK Invest, Wall Street's best-known tech sector evangelist, warns leading economic indicators are flashing red.
Strategist Michael Antonelli joins Jared Blikre to break down the Fed decision and more at 2 P.M. ET Wednesday.