Thailand Cold Chain Market is expected to Generate more than THB 20 Bn in 2026F due to Growing Demand for Frozen Food Products, Growth in Food Delivery Business: Ken Research

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Jan 11, 2023, 06:23 ET

GURUGRAM, India, Jan. 11, 2023 /PRNewswire/ -- The Cold chain market is slightly consolidated with the presence of some big market leaders catering to main end users as Meat and Seafood, Fruits and Vegetables industry. The major growth supporting factors in Thailand cold chain market was the growing export of seafood, fruits and vegetables requiring cold storage and transportation facilities to remain fresh and healthy.

Cold chain operators are catering to the energy-intensive requirements of products while minimizing the pressure on natural resources.
Change in Lifestyle and Urbanization led to Rising Domestic Consumption of Processed food.
Adoption of new and advanced technologies like WMS, Robotics, ASRS automation, Internet of Things.

Growth of retail, frozen food, e-commerce Industry: Fast paced lifestyle and rise in per capita income in the Thailand has increased the demand for frozen ready-to-cook food. Thailand is the home of top e-commerce retails of Southeast Asian region like Shoppe, Lazada, JIB etc. The major retail players like Tesco Lotus, 7-Eleven, Tops Super Market, Big C have expanded their geographical presence in the country.

Shortage of cold storage Space: In the present situation, there is a shortage of cold storage space as compared to the demand, hence creating a supply gap. This creates huge expansion opportunities for companies to increase their capacity and capitalise on the unmet demand. For example: Bangkok cold storage service and k line container service will establish new warehouses in Bang na district near Bangkok.

High Operational Cost Associated with Logistics: Rising cost of electricity and fuel are driving the operational cost of cold storage and transportation services, further narrowing down the margins. Currently, the cost of per Kilowatt hour (Unit of ) Electricity is 4.72 Baht aa t record high level.

Iot-Enabled Temperature Monitoring: Iot-Enabled Temperature Monitoring helps in monitoring goods round the clock, temperature logging has become way easier than manual methods, previously undertaken. This has resulted in increasing demand for data cold chain monitoring during the pandemic.

Analysts at Ken Research in their latest publication- "Thailand Cold Chain Market Outlook to 2026F - Driven by Rising Import-Export Trade Volume and Domestic Consumption of Meat, Seafood and Popularity of Ready to Eat Frozen Processed Food" by Ken Research provides a comprehensive analysis of the potential of Cold Chain Industry in Thailand. With the rising demand for meat and other cold storage items among the population, along with Government initiatives to better roads, ports and transportation facilities, the Cold Chain market has shown significant growth during the current period.

Key Segments Covered:

Thailand Cold Chain Market

By Revenue Split

Cold Transport
Cold Storage

By End User

Meat and Seafood
Dairy Products
Processed Frozen Foods
Vaccination and Pharmaceuticals
Fruits and Vegetables

By Ownership

3PL Cold Chain Facilities
Owned

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Thailand Cold Transport Market

By Truck Type

Reefer Vans/Trucks (1 to 10 Tons)
20 foot reefers (10 - 20 Tons)
40 foot reefers and others (more than 20 tons)

By Mode of Transportation

Land
Sea
Air

By Location

Domestic
International

By Vicinity

Inter-city
Intra-city

By End User

Meat and Seafood
Dairy Products
Vaccination and Pharmaceuticals
Processed Frozen Foods
Fruits, Vegetables and others

Thailand Cold Storage Market

By Temperature range (by number of pallets)

Frozen
Chillers
Ambient

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By Automation (by pallets)

Automated Pallets
Non-automated Pallets

By End User

Meat and Seafood
Dairy Products
Vaccination and Pharmaceuticals
Processed Frozen Foods
Fruits, Vegetables and others

By Region

Bangkok (Including Samut Prakan and Samut Sakhon)
Chonburi
ChiangMai
Others

Key Target Audience:

Cold Storage Companies
Cold Chain Companies
Cold Transport Companies
Captive Cold Storage Companies
Captive Cold Chain Companies
Logistics Companies
Non-captive Companies
Cold Chain Associations
Logistics Associations
Private Equity Firms
Venture Capitalists

Time Period Captured in the Report:

Historical Year: 2016-2021
Base Year: 2021
Forecast Period: 2022P– 2026F

Companies Covered:

JWD Infologistics
Thai Yokorei co Ltd
Sinchai Cold Storage
Konoike Cool Logistics (Thailand)
Bangkok Cold Storage Service ltd.
CTD Cold Storage
Thaimax Cold Storage
SCG Nicherei Logistics
Lucky Star
Mon Logistics
Mobile Logistics
Piti Cold Storage
Interexpress
Kerry Cool Logistics
Chomthana

Key Topics Covered in the Report:

Thailand Cold Chain Market Overview
Thailand Market Overview
Ecosystem of Thailand Cold Chain Market
Business Cycle and Genesis of Thailand Cold Chain Market
End User Analysis of Thailand Cold Chain Market
Flowchart of Thailand Cold Chain Market
Industry Analysis of Thailand Cold Chain Market
SWOT Analysis of Thailand Cold Chain Market
Major Challenges and Bottlenecks in Thailand Cold Chain Market
Regulatory Framework in Thailand Cold Chain Market
Competitive Landscape in in Thailand Cold Chain Market
Market Share of Major Cold Storage Services in Thailand Cold Chain Market
Detailed Analysis on Thailand Cold Chain Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2022-2027F)
Market Opportunity and Analyst Recommendations

For more insights on the market intelligence, refer to below link:

Thailand Cold Chain Market

Related Reports By Ken Research:

Indonesia Cold Chain Market Outlook to 2026F-- Driven by Rising Fisheries Industry & Convenience Food Consumption Owing to Growing Population and Infrastructural Development

The Indonesia Cold Chain Market witnessed a growth during the period 2016-2021 and the market would continue to grow owing to increasing demand for temperature- controlled products in the country, entry of several new players. The nation has also started projects to bring down supply chain and logistics expenses, notably by creating a national logistics platform and a sea toll program. As the demand for transporting refrigerated products is increasing, so will the demand for value-added services such as repackaging and consolidation, which will increase the demand for 3PLs in the country. In addition, a 3PL can offer customized warehouses based on customer needs.

Singapore Cold Chain Market Outlook to 2026F-- Driven By Rising Meat and Seafood Consumption Coupled With Demand for Temperature Sensitive Health Care Products

According to Ken Research estimates, the Singapore Cold Chain Market – which grew from approximately SGD ~10.0 Bn in 2016 to approximately SGD ~14.0 Bn in 2021 – is forecasted to grow further into SGD ~19.0 Bn opportunity by 2026F, owing to the rising household expenditure on food products and investments in the health care sector.

Brazil Cold Chain Market Outlook to 2027- Driven by increasing exports and imports and consolidation of the market by large players

The evolution of Cold Chain is being driven by the appearance of new companies with a vision of opportunity in the business and aim to capture market share. The Cold Chain market in Brazil is emerging with key projects due to high exports of fruits and vegetables. Brazil Cold Chain Market is currently at the growth stage and the market is currently increasing at a double digit CAGR owing to rising growth in export of meat products and import of pharmaceuticals.

Nigeria Cold Chain Market Outlook to 2026 – Driven by high food produce wastage due to lack of cold chain infrastructure, solar-focused start-ups, and increased disposable income of consumers

Nigeria Cold Chain Market is Expected to grow at a CAGR in double digits between 2021 and 2026F, one of the major determinants for the surging growth in coming years is the development of infrastructure, Improvement of pharmaceutical cold chain, Government Efforts and big Investments like, Triple I, an investment fund that invests in Sub-Saharan businesses to drive social impact decided to make an investment in the cold chain industry of Nigeria. The president of Organization for Technology Advancement of Cold Chain in West Africa, has recently urged all the state(s) and federal governments to invest in cold chain to reduce food wastage.

Vietnam Cold Chain Market Outlook to 2026F- Driven by Rising Meat and Seafood Consumption Owing to Growing Millennial Population Albeit Infrastructure Challenges

Vietnam cold chain market was evaluated to grow at a double-digit CAGR during 2016-2021.The market is currently in the growth stage owing to rising domestic consumption of meat and seafood along with increasing government initiatives and investments in the sector. Correspondingly, the Vietnam Cold Chain Industry Ecosystem is driven by large-scale 3PL companies with Real Estate companies investing in logistics services. The occupancy rate in the cold storage market has been increasing owing to undersupply of cold storage warehouses, especially in the major cities and ports where demand for cold storage is exceeding the supply. Other factors affecting prices also include the increasing demand for citrus, meat, and seafood.

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SOURCE Ken Research