Industry News

Cloverleaf Cold Storage Plans to Expand its Sioux City Warehouse

Global: Food processing and storage company Cloverleaf Cold Storage is planning USD18 million expansion of its warehouse in Sioux City, Bridgeport Industrial Complex. The expected expansion of the cold storage facility would increase its warehouse space by 50 percent, or 140,000 square feet, allowing it to store more than 750 truckloads of refrigerated food products. Moreover, the company is also planning to add 8 new employees in that facility.

The proposed expansion is required to store the increasing output from Cloverleaf’s local Farmers Produce plant, which has seen continuous growth since 1988. Farmers Produce is a subsidiary of Cloverleaf, which provides custom short-run food processing services to the protein production industry. Cloverleaf Cold Storage is amongst the world’s largest cold storage warehouse company The Company, founded in 1952, and currently operates both ambient and refrigerated food-grade warehouses in 16 locations in the central and eastern United States.

According to TechSci Research, the proposed expansion of the company’s warehousing facility is mainly due to increasing demand from the local production. This expansion will ultimately benefit the company’s production capacity in the country, where it has a strong market presence.  

According to recent report published by TechSci Research, “Global Cold Chain Market Forecast & Opportunities, 2020”, the global cold chain market is expected to grow at a CAGR of over 11% during 2015-20. Currently, global cold chain market is fragmented, with a large number of players operating in the market. However, a number of mergers and acquisitions have been witnessed over the past decade. This trend is expected to continue over the forecast period, owing to which the market is moving towards consolidation in coming years. In terms of revenue contribution, North America captured the largest market share in 2014, and is expected to retain its dominance in global cold chain market over the next five years. Major players operating in the market include AmeriCold Logistics, Lineage Logistics, APL Logistics, Swire Group, Oxford Cold Storage, VersaCold, and Burris Logistics, among others.

Relevant Reports

Relevant News