ASEAN Cold Chain Logistics Market Expected to Grow at Solid CAGR through 2028
Healthy demand for meat, dairy products and processed
food products in ASEAN countries is driving
the Cold Chain Logistics Market.
According to
TechSci Research report, “ASEAN Cold Chain Logistics Market - By Country, Competition, Forecast & Opportunities, 2018-2028F”. The pandemic's devastating
effects have changed the logistics industry's tendency towards cold storage.
The changing demographics and consumer habits in ASEAN are also a significant factor
in the rise in demand for premium cold storage in the area.
Modernizing logistics has
facilitated the growth of the refrigerated logistics sector. Between 2020 and
2021, there was an unexpected rise in the demand for cold chain logistics in
ASEAN nations. The need for cold storage and transportation has risen as a
result of growing urban population and changing customer expectations. The
market for frozen goods in Southeast Asia is growing significantly. Thailand
has a total capacity of 940,000 metric tonnes for governmental and private cold
storage facilities. The capacity of the private market in Vietnam is roughly
500,000 pallets. The capacity numbers for Indonesia and Myanmar are 370,200
metric tonnes and 88,148 metric tonnes, respectively. However, they only
represent the capabilities of large companies. Grocery stores and supermarkets
are gradually replacing traditional marketplaces. Due to the fact that many
large distributors offer insulated truck delivery, obtaining chilled goods is
simple. The rise of meat consumption and production in ASEAN, led by Indonesia
and Vietnam, is being influenced by rising economic levels and lifestyle
changes. The ASEAN pharmaceutical industry will have a market valuation of USD
148.3 billion throughout the anticipated timeframe. The majority of drugs,
including vaccines, must be given to the last mile since they are temperature
sensitive. Logistics in the cold chain are helpful for last-mile delivery.
The market for cold chain
logistics is anticipated to rise as a result of factors such an increase in the
number of refrigerated warehouses and the expansion of the pharmaceutical
industry. Additionally, market growth is predicted to be significantly
influenced by the processed food industry's expansion. However, problems
include a lack of operating procedure standardization, security, temperature
control, pest management, and high operational costs that tend to limit market
expansion. On the other hand, the use of automated software for cold chain
logistics and the availability of RFID technology is expected to provide
profitable development opportunities for the market's competitors.
Global brands have
started to concentrate on the Muslim economy recently to benefit from increased
consumer buying power and evolving customer preferences. In the ASEAN area,
there are over 260 million Muslims, most of whom reside in Indonesia, Malaysia,
Thailand, the Philippines, Singapore, Myanmar, and Brunei. Interest in Islamic
travel, meals, fashion, and cosmetics has increased and campaigns that have
been organized in the region over the past ten years. Indonesia, the most
populous Muslim-majority nation in the world, is concentrating on growing its
halal business to fulfil local and international demand amid the economic
turmoil brought on by the epidemic. The COVID-19 epidemic has put strain on
economies across the world, yet the halal sector has been able to achieve
success.
The industry’s growth
increased at a pace of 3.2% in 2019, prior to the pandemic, which was greater
than the 2.3% growth of the world economy. In 2020, Malaysia's halal
industry—which is expanding quickly—contributed 8.1% in the nation's GDP. By
the end of 2025, the halal industry market in Malaysia is anticipated to be
worth USD 147.4 billion, according to Halal Industry Development Corporation
(HIDC). Halal items were exported by the nation in 2020, for roughly USD 9
billion.
As more food and
beverage (F&B) establishments are opening and more halal certifications are
granted, Singapore's halal dining industry has been booming recently. A total
of USD 1 billion was spent on halal food in Singapore in 2019, with USD 700
million going to local Muslims.
Since meat products make
up the majority of Halal food, they had to be kept in cold chain warehouses
that have received Halal certification from the relevant governments. The
government has recently implemented several initiatives, including the creation
of a Special Economic Zone (KEK), specifically for the halal business.
Additionally, it is anticipated that the National Committee for Sharia
Economics and Finance's (KNEKS) partnership with organizations like Unilever
Indonesia would strengthen the nation's halal business. The Malaysian government
is also taking several steps forward, to dominate the global halal industry.
The government's most recent achievements include the master plan for the halal
industry and the halal park. The halal industry's master plan and halal park
are the recent advancements made by the government. All these Halal Initiatives
are driving the cold chain logistics in ASEAN Countries.
Based on Application
types, there are various sub-segments, for instance, Seafood, Meat, Fruit &
Vegetable, Dairy Products, Alternative Protein, and Others. The meat
application type is dominating with a healthy market share and is expected to
maintain in the upcoming years. In the
area, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are the top
five rising markets. Although fish and shellfish are the most common meat
sources consumed and produced and are partly to blame for feedstuffs demand,
meat consumption has also climbed in recent years. The livestock sector in
Malaysia's poultry industry has the largest production value and is the most
prosperous. With a per capita consumption of close to 50 kg, the nation is
practically self-sufficient in poultry meat. With almost 80% of its chicken
coming from vertically integrated farms, Thailand is the fourth-largest poultry
exporter in the world. In 2020, its yearly per capita consumption was around
7.9 kg. It was noted that Thailand's exports of live pigs surged by 339% in
terms of value in 2020, and it is one of the few nations that has not recorded
any outbreaks of African Swine Fever. Currently, pork production in Thailand is
mostly intended for local consumption. The next two greatest consumers of pork
in the area are Vietnam and the Philippines, with annual per capita consumption
of 25 kg and 14.9 kg, respectively. Since all of these meat products must be
transported to retail locations and some are packaged as frozen meals due to
their perishable nature, the need for cold chain logistics has skyrocketed in
the ASEAN area.
Browse over xx
market data Figures spread through xx Pages and an in-depth TOC on the "ASEAN Cold Chain Logistics Market".
Key market
players in the ASEAN Cold Chain Logistics Market include:
- Nippon Express
- United Parcel
Service of America
- Deutsche Post DHL
- Yamato Transport
Co. Ltd
- DSV Agility
Logistics
- Tiong Nam Logistics
Holdings Berhad
- Sinchai Cold
Storage Co., Ltd
- Jentec Storage
Inc.(Calamba)
- JWD InfoLogistics
- PT. Pluit Cold
Storage
- PT. Wahana Cold
Storage
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“Modernizing
logistics has facilitated the growth of the refrigerated logistics sector.
Between 2020 and 2021, there was an unexpected rise in the demand for cold
chain logistics in ASEAN nations. The need for cold storage and transportation
has risen, as a result of the growing urban population and changing customer
expectations. The market for frozen goods in Southeast Asia is growing
significantly. Thailand has a total capacity of 940,000 metric tonnes for
governmental and private cold storage facilities, whileVietnam’s private
market’s capacity is roughly 500,000 pallets. The capacity numbers for
Indonesia and Myanmar are 370,200 metric tonnes and 88,148 metric tonnes,
respectively. However, it must be noted that they only represent the capacities
of significant firms. Therefore, these factors are fuelling the market growth
of the “ASEAN
Cold Chain Logistics market in the upcoming years,” said Mr Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“ASEAN Cold Chain Logistics
Market, By Service Type (Refrigerated Warehouse, Refrigerated
Transportation), By Application (Seafood, Meat, Fruit & Vegetable, Dairy
Products, Alternative Protein, Others), By Temperature Type (Frozen, Chilled),
By Technology (Dry Ice, Gel Packs, Eutectic Plates, Liquid Nitrogen, Quilts), By
Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of ASEAN Cold Chain
Logistics Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision-makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the ASEAN Cold
Chain Logistics Market.
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