Jonathan Epstein explains how shifting consumer behaviors, such as the rise of mobile food ordering, have increased demand for cold storage in urban areas with limited real estate footprints. He discusses how COVID-19 further accelerated supply chain changes, particularly in the pharmaceutical sector, prompting a shift to newer, more efficient cold storage buildings. Epstein highlights the critical need for logistics optimization, factoring in transportation routes and labor availability. He predicts that 90% of existing cold storage facilities in North America will require replacement within the next decade, with similar trends unfolding in Europe and Asia. The growing global population, particularly in developing regions like India, is expected to drive an exponential increase in cold chain demand.
