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Refrigerated Storage in the US Industry Data and Analysis
Refrigerated storage providers faced pandemic-era inventory buildups and adopted "Just In Time" supply chain strategies. This reduced speculative demand for temperature-controlled warehousing. Major cold storage services responded by aggressively consolidating. Lineage Logistics raised $4.4 billion in its 2024 IPO to fund acquisitions, including a $247.0 million expansion deal with Tyson Foods and $740.0 million in facility purchases. At the same time, the provider reduced staff in early 2025 to protect profit amid market uncertainty. Americold reported contractual occupancy declining 470 basis points to 74.7% as inflation-weary consumers reduced food spending. This illustrates the sector's sensitivity to consumer spending patterns and to fluctuations in retail demand. Despite these headwinds, technological differentiation emerged as a critical competitive advantage. Refrigerated storage providers invested heavily in automation, AI-driven predictive maintenance and IoT-enabled temperature-monitoring systems. This technology offset rising labor costs, which account for a substantial share of expenses. Profit share improved from 2.1% of revenue in 2021 to 2.5% in 2026 because automation gains and consolidation benefits offset pressure from normalized inventory levels and competitive pricing. Over the current five-year period through 2026, refrigerated storage service revenue expanded at a 2.1% CAGR. This included 1.5% growth in 2026, bringing total revenue to $9.3 billion.
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What's included in this industry analysis
IBISWorld's research coverage on the Refrigerated Storage industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Refrigerated Storage industry in the United States operates under the NAICS industry code 49312. The Refrigerated Storage industry consists of companies that manage refrigerated warehousing and storage facilities. They provide temperature-controlled services like blast freezing and tempering, along with specialized storage for furs intended for trade. The stored furs serve as raw materials for manufacturing garments and personal accessories, including bags and shoes. Related terms covered in the Refrigerated Storage industry in the United States include radio-frequency identification (rfid), third-party logistics provider (3pl), order picking and blast freezing.
What's included in this industry?
Products and services covered in Refrigerated Storage industry in the United States include Storage of goods, Handling of goods and Transportation of goods.
What companies are included in this industry?
Companies covered in the Refrigerated Storage industry in the United States include Lineage Logistics Holdings, Llc, Americold Realty Trust and United States Cold Storage Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Refrigerated Storage industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Refrigerated Storage industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Refrigerated Storage industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Refrigerated Storage industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Refrigerated Storage industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Refrigerated Storage industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Refrigerated Storage industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Refrigerated Storage industry in the United States.
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Frequently Asked Questions
What is the market size of the Refrigerated Storage industry in the United States in 2026?
The market size of the Refrigerated Storage industry in the United States is $9.3bn in 2026.
How many businesses are there in the Refrigerated Storage industry in the United States in 2026?
There are 1,138 businesses in the Refrigerated Storage industry in the United States, which has declined at a CAGR of 12.8 % between 2021 and 2026.
How may import tariffs affect the Refrigerated Storage industry in the United States?
The Refrigerated Storage industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Refrigerated Storage industry in the United States?
The Refrigerated Storage industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Refrigerated Storage industry in the United States grown or declined over the past 5 years?
The market size of the Refrigerated Storage industry in the United States has been growing at a CAGR of 1.8 % between 2021 and 2026.
What is the forecast growth of the Refrigerated Storage industry in the United States over the next 5 years?
Over the next five years, the Refrigerated Storage industry in the United States is expected to grow.
What are the biggest companies in the Refrigerated Storage industry in the United States?
The biggest companies operating in the Refrigerated Storage industry in the United States are Lineage Logistics Holdings, Llc, Americold Realty Trust and United States Cold Storage Inc.
What does the Refrigerated Storage industry in the United States include?
Providing blast freezing services and Providing tempering services are part of the Refrigerated Storage industry in the United States.
Which companies have the highest market share in the Refrigerated Storage industry in the United States?
The company holding the most market share in the Refrigerated Storage industry in the United States is Lineage Logistics Holdings, Llc.
How competitive is the Refrigerated Storage industry in the United States?
The level of competition is moderate and steady in the Refrigerated Storage industry in the United States.
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