Vietnam Cold Chain Market is expected to generate more than $ 600 Mn by 2026F owing to the growing demand by end users and technology upgradation: Ken Research

News provided by

Dec 19, 2022, 05:52 ET

GURUGRAM, India, Dec. 19, 2022 /PRNewswire/ --

The cold storage sector in Vietnam is expected to grow with strong traction, likely driven by import and export orders for medicines and vaccines.
Improved export trade and transportation agreements, global demand for Vietnamese seafood is expected to rise in the future boosting investment trends.
With huge investment in cold storages and rising power prices & labor cost in the country along with rising automation and tech advancements in the country, storage cost is expected to increase in the future.

Technological Advancements: The cold storage industry is experiencing a new wave of technological developments which are essential for end users of cold storage services and for the organic growth of cold storage companies. Technology like- Robotics and Automation, Automated Guided Vehicles (Agvs), Iot Implementation, Advanced Sortation Systems, Drones and Advanced Analytics are being used by cold chain companies to grow their business. Vietnam Cold Storage Market is expected to generate more than $ 600 Mn in 2026F.

New Government Policies and projects supporting the growth of Cold Chain: The government prohibits vehicles older than 20 years to operate on road which negatively impacts the cold transport business. The trend is expected to continue as the cold storage business grows stronger which will result in a decreased revenue share for cold transport by the year ending 2026F. Projects like Ring Road 3 and 4, the highway to the Moc Bai Border Gate and Cai Mep Port project, Long Thanh International Airport, and Hiep Phuoc Port City will boost the development of the sector in the years to come in the Southern Key Economic Region (SKER).

Change in Lifestyle and Urbanization: Fast paced lifestyle and rise in per capita income in Vietnam has increased the demand for frozen, ready-to-cook and other types of food. Thus, result in increase of revenue generated from USD 193.7 Mn in 2016 to USD 3030.3 Mn in 2021. E-commerce at 73.2% in 2021 and food delivery's rapid expansion are having a substantial influence on the cold storage market. Increasing awareness towards overall physical and mental growth and development resulted in increasing consumption of dairy products, fruits and vegetables and high protein animal based products, thereby increasing demand for cold storage warehouses.

Analysts at Ken Research in their latest publication "Vietnam Cold Chain Market Outlook to 2026F- Driven by Rising Meat and Seafood Consumption Owing to Growing Millennial Population Albeit Infrastructure Challenges" by Ken Research observed that Cold Chain market is an emergent transport and storage market in Vietnam at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for cosmetic dentistry, demand among the population along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 14.8% CAGR during 2021-2026F owing to the rise in economy of the country, increasing consciousness towards looks and new government policies.

Key Segments Covered in the report:-

Vietnam Cold Chain Market

By End User

Meat and Seafood
Fruits and Vegetables
Dairy and Bakery
Vaccination and Pharmaceuticals
Others

By Ownership

3PL Cold Chain Facilities
Owned

Vietnam Cold Storage Market:-

By Temperature Range

Frozen
Chillers
Ambient

To learn more about this report Download a Free Sample Report

By Automation

Non-automated Pallets
Automated Pallets

By End User

Meat and Seafood
Fruits and Vegetables
Dairy and Bakery
Vaccination and Pharmaceuticals
Others

By Major Cities

Ho Chi Minh
Hanoi Capital
Binh Duong
Long An
Other

Vietnam Cold Transport Market:-

By Truck Type

Reefer Vans/Trucks
20-foot reefers
40-foot reefers and others

By Mode of Transportation

Land
Sea
Air
In Land Water ways

Visit this Link Request for custom report

By Location

International
Domestic

By Vicinity

Inter-city
Intra-city

By End User

Meat and Seafood
Fruits and Vegetables
Dairy and Bakery
Vaccination and Pharmaceuticals
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 Period: 2016-2021
Base Year: 2021
Forecast Period: 2021-2026F

Companies Covered:-

Lineage
Transimex
Hung Vuong Corporation
AJ Total Vietnam
Mekong Logistics
ARC Bing Duong
ABA Cooltrans
Emergent cold storage
SK Cold Storage
Lotte logistics
Konoike
Hong Lai Group
New Land Logistics
Thang Long Logistics
Crane Worldwide Logistics
ALS Avaition Logistics
Arctic Wolf
Vinafco

Key Topics Covered in the Report:-

Country Overview and Infrastructure Analysis of Vietnam
Vietnam Cold Chain Market Overview and Genesis
Vietnam Cold Chain Industry Supply Ecosystem
Business Cycle and Genesis of Vietnam Cold Chain Market
Vietnam Cold Chain Market, 2016-2021
Vietnam Cold Chain Market Segmentation (by Cold Storage and Cold Transport, by Ownership and by End Users)
Vietnam Cold Storage Market, 2016-2021
Vietnam Cold Storage Market Segmentation (by Automation, Temperature Range, by End Users and by region)
Vietnam Cold Transport Market Overview, 2016-2021
Vietnam Cold Transport Market Segmentation (by Type of Reefer Truck, by Mode of Transportation, by Location & Vicinity and by end users)
SWOT Analysis of Vietnam Cold Chain Market
Competition Scenario of Vietnam Cold Chain Market
Growth drivers of Vietnam Cold Chain Market
Technological Advancements in the Vietnam Cold Chain Market
Issues and Challenges in the Vietnam Cold Chain Market
Recent Trends in the Vietnam Cold Chain Market
End User Analysis of Vietnam Cold Chain Market
Future Outlook of Vietnam Cold Chain Market, 2021-2026F
Future Outlook of Vietnam Warehousing Market, 2021-2026F
Future Outlook of Vietnam Cold Storage Market, 2021-2026F
Future Outlook of Vietnam Cold Transport Market, 2021-2026F
Market Opportunities and Analyst Recommendation

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

Vietnam Cold Chain Market

Related Reports By Ken Research:-

Portugal Cold Chain Market Outlook to 2026F: Driven by Rising Packaged Foods Consumption Owing to Growing Millennial Population

Portugal's cold chain market was evaluated to grow at single digit CAGR during 2016-2021. The market is currently in the growth stage owing to rising domestic consumption of processed foods, frozen foods, seafood, and meat along with increasing government initiatives and investments in the sector. Due to the increase in demand for pharmaceutical products, as well as the rise in e-commerce resulting from the pandemic the cold chain market in Portugal has seen its share growth in recent years. The Portugal cold chain market is moderately consolidated. The cold warehouse market has fewer companies due to the large captive company presence in the country. There are many cold transportation companies, most of which are small-scale players with a smaller number of fleets. The demand for consuming frozen foods along with increasing meat and seafood consumption is driving the market.

South Africa Cold Chain Market Outlook to 2026F: Driven by Rising Meat and Seafood & Fruits and Vegetables Consumption & Owing to Growing Population and Infrastructural Development

South Africa 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 South Africa 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. The prices in cold storage in South Africa are directly related to inflation and as inflation rises, the prices increase as a result. Other factors affecting prices also include the increasing demand for citrus, meat, and seafood.

Malaysia Cold Chain Market Outlook To 2026 - Driven by Increase in Demand for Perishable Food Items and its Establishment as the Halal Industry Hub, Malaysia Cold Chain Market Experiencing Growth

The cold chain market in Malaysia is at the growth stage. There are not many providers that offer cold chain service for the Malaysian market and it is considered a niche market. Malaysia has established itself as the halal industry hub, making it one of the major trading partners of halal meat and other products. In the review period 2016-2021P, the Malaysia cold chain market has increased at a positive CAGR of 6.9% primarily due to substantial government investments in the freight industry and increase in retail and consumer spending especially in meat and seafood, fruits/vegetables market, and the growing pharmaceuticals industry.

Qatar Cold Chain Market Outlook To 2026 - Driven By FIFA World Cup 2022's Logistics Demand And Infrastructural Growth Along With A Tailwind Of Technological Development, Qatar Cold Chain Market Experiencing Growth

The cold chain market in Qatar is at the growth stage. It has established its position as an important import hub for the GCC countries (after UAE). Most of the goods are transported to the GCC countries after reaching Qatar. The high dependence of the country on imports to meet its food requirements has decreased over the past years and has necessitated the development of cold chain facilities to store domestically produced perishable products. In the review period 2016-2021P, the Qatar cold chain market has increased at a positive CAGR of 5.8% primarily due to substantial government investments in the freight industry and increase in retail and consumer spending especially in meat and seafood, dairy market, and the growing pharmaceuticals industry.

UAE Cold Chain Market Outlook to 2025 – The Cold Chain Market in UAE is Thriving with the Advent of Government's Economic Diversification Plans Coupled with UAE's Increasing Adoption of Technology and Automation

The cold chain market in UAE is at growth stage. It has consolidated its position as a global transhipment hub due to its central location in the GCC region. The high dependence of the country on imports to meet its food requirements has necessitated the development of cold chain facilities. In the review period 2015-2020, the UAE cold chain market has increased at a positive CAGR of 5.0% largely due to heavy government and direct foreign investments in transportation and storage infrastructure, increase in retail and consumer spending especially in groceries, dairy, meat, international food and EXPO 2020.

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-

Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249

Logo: https://mma.prnewswire.com/media/661352/Ken_Research_Logo.jpg

SOURCE Ken Research