PUBLISHER: The Business Research Company | PRODUCT CODE: 1426276
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426276
Farm product warehousing and storage facilities serve as essential locations for storing agricultural produce, offering crucial storage solutions to farmers to safeguard their crops from weather-related damage, particularly from rain.
The main categories within farm product warehousing and storage encompass storage services, handling services, packing services, and other related services. Storage services specifically involve the practice of storing and maintaining goods within a warehouse setting. These facilities find applications within farms and enterprises, catering to the needs of various entities, including private, public, and bonded establishments.
The farm product warehousing and storage market research report is one of a series of new reports from The Business Research Company that provides farm product warehousing and storage market statistics, including farm product warehousing and storage industry global market size, regional shares, competitors with a farm product warehousing and storage market share, detailed farm product warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the farm product warehousing and storage industry. This farm product warehousing and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The farm product warehousing and storage market size has grown strongly in recent years. It will grow from $91.12 billion in 2023 to $98.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. Historical growth in farm product warehousing and storage can be attributed to several key factors. These include the advent of the green revolution that transformed agricultural practices, the expansion of global trade opening up new markets, the introduction of quality standards enhancing storage practices, the development of cold chain infrastructure aiding in preserving produce, and the overall increase in agricultural productivity.
The farm product warehousing and storage market size is expected to see strongly grown in the next few years. It will grow to $129.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. Anticipated growth in farm product warehousing and storage in the forecast period is expected to be driven by several key factors. These include the integration of precision agriculture techniques and IoT (Internet of Things) applications, the implementation of blockchain technology to ensure supply chain transparency, a shift towards sustainable practices within the industry, the rising prominence of e-commerce and direct-to-consumer trends in agricultural products, and government initiatives aimed at ensuring food security.
The expansion of the farm product warehousing and storage market is directly linked to the rising retail penetration. This growth trajectory is bolstered by increased consumer demand leading to product purchases and subsequent storage in warehouses. Notably, the Indian retail sector, valued at $2.77 billion in 2020, witnessed a resurgence, achieving 96% of pre-COVID-19 sales in 2021, according to the Indian Brand Equity Foundation. Such heightened retail activities drive the demand for farm product warehousing and storage.
The upward trend in urbanization serves as a catalyst for the farm product warehousing and storage market. As populations concentrate in urban areas, the demand for farm products in these regions intensifies. Warehousing and storage facilities play a pivotal role in ensuring a consistent supply of agricultural goods to urban centers. The World Bank's publication in October 2022 highlighted that over 50% of the global population lived in urban areas in 2022, with an anticipated increase to 6 billion by 2045. This burgeoning urbanization underpins the escalating need for efficient storage and distribution of farm produce.
Warehouse operators are increasingly focusing on constructing multi-story warehouses in densely populated cities to optimize land utilization and operational efficiency. These multi-story warehouses, prevalent in Asian countries like China, Japan, Hong Kong, and Singapore, cater to high land costs and limited industrial land availability. Notably, Colliers' introduction of the Favco Industrial Park in Sydney, Australia, in September 2021 exemplifies this trend. Featuring multiple levels, recessed loading docks, and high internal clearance, these facilities efficiently manage industrial warehousing demands in areas with space constraints.
Major companies are forging strategic partnerships and collaborations to fortify their market standing. These alliances, aimed at leveraging mutual strengths and resources, facilitate improved supply chain management and efficiency. An example is WayCool Foods' collaboration with Central Warehousing Corporation in April 2023, enhancing supply chain operations for agricultural products in India. This partnership provides dedicated warehousing and related services, aiming to enhance overall efficiency and minimize wastage in the supply chain.
Major companies operating in the farm product warehousing and storage market report are Archer-Daniels-Midland Company, Cargill Incorporated, CBH Group, Americold Realty Trust, Lineage Logistics Holdings LLC, AGRO Merchants Group LLC, United States Cold Storage Inc., VersaCold Logistics Services, Burris Logistics, Cloverleaf Cold Storage Company, Preferred Freezer Services LLC, Hanson Logistics Inc., Interstate Warehousing Inc., Swire Cold Storage Pty Ltd., NewCold Advanced Cold Logistics, Kloosterboer Group B.V., Oxford Cold Storage Limited, Confederation Freezers LP, Trenton Cold Storage Inc., Emergent Cold LLC, Snowman Logistics Limited, Gruppo Marconi Logistica Integrata S.p.A., Frialsa Frigorificos S.A. de C.V., Friozem Armazens Frigorificos Ltda., Eurofrigo BV, Henningsen Cold Storage Co., Richmond Cold Storage Company Inc., Zero Mountain Inc., CS2 Transport Ltd., Great Lakes Cold Storage Inc., Seafrigo USA Inc., Stockhabo S.p.A.
North America was the largest region in the farm product warehousing and storage market in 2023.The regions covered in the farm product warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the farm product warehousing and storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The Farm product warehousing and storage market includes revenues earned by entities by helping in price stabilization of agricultural commodities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Farm Product Warehousing And Storage Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on farm product warehousing and storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for farm product warehousing and storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The farm product warehousing and storage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.