In the cold and frozen food sector, tremendous growth combined with a serious shortage of capacity is severely constraining companies today. “The frozen food market is currently experiencing remarkable growth, with its global value soaring to $265 billion. In the U.S. alone, new frozen food sales have impressively surpassed the $72 billion mark,” states Rick Kingery in the Colliers’ article “Capitalizing on the $265 Billion Frozen Food Market: Cold Storage’s Crucial Role.”
Adding to the challenge, “We estimate the U.S. will need up to 100-million-square-feet of additional cold storage space in the coming years,” states Marty Khait in an article posted on the Refrigerated & Frozen Foods Magazine website, “The Cold Reality: Why America’s Cold Storage Capacity is Running Low.”