Vietnam Cold Chain Logistics Market is Expected to Register a Robust CAGR through 2028
Rising demand for fresh organic products and growing
opportunities for pharmaceuticals sector are
driving the Vietnam Cold Chain Logistics Market in the forecast period.
According to TechSci Research
report, “Vietnam Cold Chain Logistics Market
- By Region, Competition, Forecast & Opportunities, 2018-2028,”
the Vietnam Cold Chain Logistics Market is expected to boost in the upcoming
years owing to a rise in online shopping and food delivery services, together
with the expanding prospects for the import and export of medicines and
vaccines.. The increasing middle-class population, which has additional funds
to spend, has increased access to and demand high-quality, natural products. As
a result, there is an increase in the demand for cold storage, which leads to
new growth prospects and investment trends in cold supply chains.
The growth of traditional retail and fast-food services
in Vietnam is driven by rapid urbanization, greater incomes, and growing
consumer awareness of food safety in the setting of a highly interconnected
economy thanks to the involvement of free trade agreements (FTAs). The
contemporary retail food industry has performed at a quicker growth rate,
despite the fact that old wet markets and tiny independent retailers still
dominate the retail market system. From 2012 to 2017, the CAGR of sales at
contemporary grocery stores was 14.6%, compared to 9.5% at conventional grocery
stores. Similarly, the quantity of contemporary grocery stores has increased by
260% since 2012, compared to only 5% for conventional grocery stores.
Not only in first-tier cities like Hanoi and Ho Chi Minh
City, but also in second-tier cities and
regions all around Vietnam, contemporary retail food chains are now extending
their distribution networks. Modern supermarkets and convenience stores have
gradually altered consumer behavior and how locals are perceived in lower-tier
cities. This has led to new experiences and assisted consumers in broadening
their horizons, diversifying their options, and shifting their purchases away
from conventional retail channels and toward contemporary ones. Vinmart+ even
made an appearance in third tier cities14 in 2019, taking a strong
position in the ensuing battle for the title of the best modernized retail
chain in Vietnam. This indicates that there is significant potential for
expansion in the interprovincial and regional demand for cold storage services
in the forecast period.
Browse over xx market data Figures spread through xx Pages and an in-depth TOC on the "Vietnam Cold Chain Logistics Market"
Additionally, the presence of contemporary apartment
buildings with food courts, such as Royal City and Times City, as well as mega
malls like Big C, AEON, and LOTTE, as well as the steady expansion of fast-food
chains and the rising popularity of quick-service restaurants in first-tier
cities all help to fuel the growth in demand for cold chain logistics. food
makes up 35% of the market share in Vietnam's food service industry and is one
of the major consumers of the country's cold chain logistics services,
particularly when it comes to imported beef and chicken meat cuts.
As the number of refrigerated warehouses rises and the
pharmaceutical sector expands, there is expectation that the market for cold
chain logistics will grow. Additionally, it is anticipated that the expansion
of the processed food sector would have a substantial impact on market growth.
The lack of uniformity of operating procedures, security, temperature control,
pest management, and high operational expenses, however, are issues that
prevent the industry from growing. On the other hand, the availability of RFID
technology and the utilization of automated software for cold chain logistics
are anticipated to offer lucrative development chances for the market's
players.
Based on
Application, the market is divided into Seafood, Meat, Fruit & Vegetable,
Dairy Products, Alternative Protein, and Others. The meat application now holds
a significant market share and is predicted to continue to grow in the upcoming
years. Despite the fact that fish and shellfish are the most often
consumed and produced meat sources, which are also partially to blame for the
increase in feedstuff need, meat consumption has increased recently. Vietnam
consumes 25 kg of pork per person annually, making it one of the biggest pork
consumer. The demand for cold chain logistics has increased dramatically in
Vietnam since all of these meat items must be sent to retail outlets, and some
are packed as frozen dinners owing to their perishable nature.
Key market players in the Vietnam Cold Chain Logistics
Market include:
- Lotte Global Logistics
Vietnam Co Ltd
- Konoike Vinatrans
Logistics Co. Ltd
- CLK Cold Storage Co.
Ltd
- Hung Vuong Corporation
- New Land Co. Ltd
- Mekong Logistics Joint Stock Company
- Lineage Logistics
Holding LLC
- DSV DB Schenker Vietnam Co. Ltd
- Agility Logistics
Vietnam Co. Ltd
- APL Logistics Vietnam
Co. Ltd
Download Free Sample Report
Customers can also request 10% free customization on
this report.
“Modernizing logistics has contributed beneficial to the
growth of the refrigerated logistics sector. Vietnam saw an unanticipated
increase in demand for cold chain logistics between 2020 and 2021. The
increasing urban population and shifting consumer demands have increased the
demand for cold storage and transportation. In Vietnam, the private market has a
capacity of about 500,000 pallets. Additionally, cold storage facilities are
typically grouped together, primarily in industrial parks, along rivers, and
near seaports. Commercial and independently owned cold storage are the two
primary segments of the domestic market. The Southern area has a highly
developed cold storage industry, mostly as a result of the growth of the marine
and agricultural sectors. Among these, Long An Province has a particularly high
concentration of cold storage facilities due to its close proximity to Ho Chi
Minh City, which attracts a large portion of the country’s population.” Therefore,
these factors are fuelling the market growth of the Vietnam Cold Chain
Logistics market in the upcoming years said,” said Mr Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Vietnam Cold Chain Logistics Market By 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, 2018-2028,” has
evaluated the future growth potential of Vietnam 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 Vietnam Cold
Chain Logistics Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656