Cold Storage Report 2024: Market Data & Innovation Insights

The cold storage industry is driven by technological advancements, changing consumer behavior, and increasing logistical demand. This cold storage report explores market data as well as the key areas of innovation and their implications for companies in the food, retail, and logistics industries, among others.

The 2024 Cold Storage Report offers a detailed analysis of a sector steadily upgrading to meet global demand. This report presents significant trends, firmographic information, and investment patterns, as well as technological progress and sustainable practices. Some key trends highlighted in this report include temperature-regulated packaging, solar-powered alternatives, and refrigerated warehousing.

This cold storage industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Cold Storage Report 2024


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Executive Summary: Cold Storage Industry Outlook 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 300+ cold storage startups developing innovative solutions to present five examples from emerging cold storage industry trends.

  • Industry Growth Overview: The cold storage industry is seeing an annual growth rate of 0.62% with over 3300 companies listed.
  • Manpower & Employment Growth: The industry employs over 600000 workers globally. An addition of more than 32000 new employees last year indicates workforce expansion.
  • Patents & Grants: Notable for innovation, the industry holds over 4800 patents and has received 488 grants. This shows support and recognition from funding bodies.
  • Global Footprint: The sector has activities in major hubs like the US, India, China, the UK, and Canada, with cities like Mumbai, Singapore, New Delhi, Shanghai, and Dubai.
  • Investment Landscape: The industry’s financial health is solid, with an average investment value of USD 59.1 million per funding round and over 1000 funding rounds closed.
  • Top Investors: Investors, including Blackstone Group, Tiantu Capital, and more have collectively invested more than USD 630 million into the sector.
  • Startup Ecosystem: Highlights include innovative startups such as SINGAUTO (Energy Intelligent Refrigerated Vehicles), SokoFresh (Cold Storage as a Service), Tan90 (Precision Thermal Management), Shandong Excellent Intelligent Technology (Walk-in & Modular Cold Storage), and NB Cold Chain (Cold Plate).
  • Recommendations for Stakeholders: Stakeholders should continue to adopt and invest in emerging trends such as solar cold storage and advanced packaging technologies. There is also a need to focus on sustainability to align with global environmental standards and reduce operational costs.

Explore the Data-driven Cold Storage Report for 2024

The cold storage report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap presents important metrics from our database, which comprises more than 3300 companies, including 377 startups. The industry saw a growth rate of 0.62% in the past year. The creativity within these companies is shown by the considerable number of patents and grants—4800 and 488 respectively.

The global manpower stands at 600K+, with an employee growth of 32K+ in the last year. The top five country hubs are the USA, India, China, the UK, and Canada. Further, the top city hubs are Mumbai, Singapore, New Delhi, Shanghai, and Dubai.

What data is used to create this cold storage report?

Based on the data provided by our Discovery Platform, we observe that the cold storage industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The cold storage industry is noticeable in news coverage and publications, with more than 1900 publications over the last year.
  • Funding Rounds: Our database includes data on over 1000 funding rounds within this industry.
  • Manpower: The manpower in the sector exceeds 600000 workers, with over 32000 new employees added last year.
  • Patents: The industry is notable for innovation and holds more than 4800 patents.
  • Grants: It has received 488 grants, which shows support and recognition from various funding bodies.
  • Yearly Search Growth: The cold storage industry also shows strong global search interest, with a yearly growth of 16.69%.
  • and more. Book a demo to explore all data points used to create this cold storage report.

A Snapshot of the Global Cold Storage Industry

The cold storage industry report presents a sector marked by notable growth and investment. The industry employs over 600000 individuals, with more than 32000 new hires in the last year. At present, our database includes over 3300 companies, showing a solid industry presence.

Explore the Funding Landscape of the Cold Storage Industry

In financial terms, the industry is noteworthy, with an average investment value of USD 59.1 million per funding round. This investment value is backed by more than 500 investors who have collectively closed over 1000 funding rounds. These investments have reached more than 400 companies and demonstrate confidence in the sector’s growth and stability. These figures present the cold storage industry as a contributor to economic development, with significant contributions to employment and investment landscapes.

Who is Investing in Cold Storage?

The cold storage industry has drawn considerable investment, with the top investors collectively directing more than USD 630 million into the sector.

  • Blackstone Group has allocated USD 275 million across two companies, indicating its strategic commitment to enhancing industry capabilities.
  • Tiantu Capital has invested USD 173.1 million across two companies, showing a focused approach to fostering growth within the sector.
  • Lineage Logistics has invested USD 166.7 million in two companies, highlighting its focus on operational excellence and expansion.
  • East Ventures has invested USD 19.4 million in four companies, indicating a commitment to nurturing early-stage innovations.
  • SOSV has invested USD 625,000 in three companies, showing an approach to drive innovation through strategic capital allocation.
  • and more. Book a demo to explore all investment data in the cold storage industry

Here are a few emerging trends within the cold storage industry along with the firmographic insights:

  • Temperature-controlled packaging is a developing trend in the cold storage industry, with 123 companies currently identified. These companies employ around 20000 workers and have added 823 new employees over the last year, indicating growth. The sector’s annual trend growth rate is 14.08%, highlighting its growing relevance.
  • Solar cold storage is a notable trend with 76 companies identified, employing about 5200 individuals. This sector has added 394 new employees in the past year. With an annual trend growth rate of 11.16%, solar cold storage is showing progress, particularly as industries look for more sustainable and energy-efficient storage solutions.
  • Refrigerated warehousing & storage remain a constant in the cold storage industry, with 95 companies identified and a workforce of 20800 employees. The addition of 616 new employees last year suggests consistent growth. Further, the annual trend growth rate is 0.81%.

5 Top Examples from 300+ Innovative Cold Storage Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

SINGAUTO develops Energy Intelligent Refrigerated Vehicles

Singaporean startup SINGAUTO develops urban distribution commercial vehicles, with a focus on environmental sustainability and innovation. Its product, the SINGAUTO S1, is a notable advancement in the field of refrigerated transport vehicles. These trucks incorporate modern battery technology with chassis design, leading to a reduction in weight and improvements in ergonomics. The safety features include assisted driving functions at the L2 level and real-time monitoring of the cargo compartment.

SokoFresh provides Cold Storage as a Service

Kenyan startup SokoFresh offers cold storage rental services through mobile, solar-powered units. These units maintain a temperature range of 4°C to 15°C and provide features such as real-time condition monitoring and remote control via mobile. The technology uses 20-foot container dimensions, a solar kit, and R407F refrigerant, which allows for portability and operation without a traditional power grid. SokoFresh provides both short-term and long-term rental options, making it a viable choice for a variety of industries, including horticulture and pharmaceuticals.

Tan90 enables Precision Thermal Management

Indian startup Tan90 provides cold storage solutions for a variety of industries. Its offerings include Phase Change Material (PCM) sachets and panels, which allow for accurate temperature control during transportation and storage. These sachets and panels maintain temperatures from deep freeze to controlled ambient levels, making them suitable for pharmaceuticals, food, and other perishable items. The company also provides insulated shipper boxes and thermal bags that incorporate its PCM technology, facilitating efficient last-mile delivery. This technology ensures consistent temperature, which is vital for the preservation of sensitive products. Tan90’s solutions are reusable and designed with environmental considerations to reduce the carbon footprint associated with traditional cold chain logistics.

Shandong Excellent Intelligent Technology offers Walk-in & Modular Cold Storage

Chinese startup Shandong Excellent Intelligent Technology manufactures refrigeration equipment. Its product line includes modular and display walk-in cold rooms, designed for adaptability and efficiency in diverse environments. These products provide suitable cold storage conditions for numerous industries by maintaining steady temperatures. The company incorporates advanced technologies for accurate temperature control and energy efficiency. These equipments are designed with user-friendly interfaces and robust construction, which contributes to its durability.

NB Cold Chain builds Cold Plate

Japanese startup NB Cold Chain is involved in the global transportation of sensitive items such as medicines and vaccines. It offers a variety of products, including functional ice packs and specialized cold storage containers. Its Crescent F series ice packs and Container Crescent base series boxes contribute to secure temperature-controlled transport. Further, the Mobile Transport Fridge provides mobile cold storage solutions. These products maintain specific temperature ranges during transportation.

Looking for Comprehensive Insights into Cold Storage Trends, Startups, or Technologies?

As we wrap up our 2024 cold storage report, it’s evident that the sector’s future holds notable growth and technological incorporation. Trends on the rise, such as solar cold storage and advanced temperature-controlled packaging, are expected to bring innovation and provide more sustainable and efficient solutions. Book a platform demo to explore all 300+ startups and scaleups, as well as all industry trends impacting cold storage companies.

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