Ordering groceries online? Every time your pint of Chubby Hubby arrives unmelted, you can thank 2 kingpins of cold storage — Americold and Lineage Logistics.
Cold storage is a pretty chill gig: For decades, the 2 specialists have had the market pretty much to themselves.
But now the industry is heating up
The average cold storage warehouse is entering middle age. Because of the pandemic, we’re cramming more and more produce into them.
With online grocery sales booming, some analysts say we could need 50% more cold-storage space in the next 5 years.
Could the freezer titans get iced out?
Real estate giants like PGIM are investing millions in the red-hot biz. The $98B industry will expand by more than 12% each year through 2025, one report said.
The booming business does more than just keep your ice cream cold. All those peanuts that aren’t being sold in ballparks? They’re waiting out COVID-19 in giant warehouse fridges.