Cold storage is heating up in Canada. Can operators capitalize?

Our recent blog on frozen food showed how consumer preferences and trade are reshaping Canada’s frozen-food market. Those products, along with meat, seafood, dairy and fresh produce, depend on temperature-controlled infrastructure. In this report, we look at Canada’s cold storage operators and how they can capitalize on increasing demand for their services.

Demand for cold storage is strong

Cold storage demand is driven by the volume and mix of food moving through Canada’s food system. Domestic production, food processing and international trade all influence how much product may require refrigerated or frozen storage.

Indeed, the production of Canadian food products that require refrigeration continues to grow. In 2025, vegetable production increased 8.0% to roughly 2.6 billion kilograms, poultry production rose 0.7% to 1.6 billion kilograms and hog slaughter increased 2.0%. The expansion of the food-processing industry also creates demand for refrigerated storage, distribution and specialized logistics services. Frozen food manufacturing, which covers establishments that primarily make frozen fruits and vegetables, as well as frozen dinners and side dishes of several ingredients (except seafood), illustrates this trend. Revenue from the industry rose from $5.4 billion in 2020 to $8.0 billion in 2024, an increase of roughly 48%.

Demand for refrigerated storage from exporters has also grown strongly. We estimate that this year will see a more than 30% increase from 2020 levels for exports of frozen fruit and vegetable preparations, fresh or chilled vegetables and fresh or chilled meat (Table 1). Growth has, however, eased recently. Compared with 2025, export volumes in 2026 are expected to be broadly stable for frozen fruit and vegetable preparations, fresh or chilled vegetables and fresh or chilled meat, while seafood exports are set to rise sharply (fresh or chilled up 16%, frozen up 18%).

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