Cold storage facilities offer substantial untapped growth opportunities in Asia Pacific despite the market moderating from a 2021 high. According to JLL, refrigerated warehouse capacity demonstrated consistent growth from 2014 to 2020. It is projected to rise by 25 percent over the next five years and reach more than 1,100 million cubic meters by 2030 globally, with Asia Pacific driving the bulk of activity.
Cold storage facilities remain a promising long-term investment asset class backed by strong market fundamentals — Asia Pacific’s emerging middle class is expected to drive consumption, and ecommerce as a share of total retail sales is expected to rise from 17.3 percent in 2024 to 21.4 percent by 2029 globally.
The cold storage sector demonstrates resilience, with demand for essential services involving perishable goods such as groceries and online food delivery on the rise, while the region’s aging population spells growing demand for pharmaceuticals, biotec
