KSA Cold Chain Market Expected to Reach $2.5Bn by 2027. Will it be able to achieve it? Ken Research
The report covers KSA Cold Chain Market, KSA Cold Chain Industry, KSA Cold Chain Sector, Saudi Arabia Cold Chain Market, Saudi Arabia Cold Chain Sector, KSA Cold Storage Market, Saudi Arabia Cold Storage Sector, KSA Meat Cold Chain Market, Frozen Food Storage Industry, Dairy Cold Storage Market, Ice Cream Storage Sector, Pharmaceuticals Cold Storage Market, Vaccines Cold Storage Sector, Bakery Cold Storage Market, Emerging Cold Chain Companies KSA, Major Players Cold Chain Industry KSA, Leading Players KSA Cold Chain Market, Key Competitor KSA Cold Chain Market, KSA Cold Chain Market Trends, Cold Chain Industry Opportunities, Cold Chain Sector Challenges, Wared Cold Chain Market Share, NAQEL Express Cross-Border Logistics, Investment Cold Chain Market, Fund raised Startups Cold Chain Market, Four Winds Cold Chain Market size, Flow Progressive market Share, Sasat Logistics Market Share.
/EIN News/ -- Gurugram, India, July 05, 2023 (GLOBE NEWSWIRE) -- KSA Cold Chain Market is in the growing stage, being driven by rising domestic consumption of meat, increasing seafood exports, rising retail spending, growth of dairy industry, changing lifestyle and societal norms, increasing pharmaceutical imports, rising hygiene and safety concerns and infrastructure development. The Cold Chain Industry in KSA is a highly fragmented market with key players such as Mosanda Logistics, Agility Logistics, Wared Logistics, NAQEL Express, Almajdouie Logistics and others.
- Cold chain industry is experiencing a new wave of technological developments which are essential for end users of cold storage services and for the organic growth companies.
- Majority of the transportation takes place through Reefer Vans due to lack of infrastructure development.
- Riyadh, Jeddah and Dammam are considered as most Prominent Regional Cluster for Cold Storage Penetration in KSA.
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1. Rising Consumption of Meat in KSA
The Kingdom of Saudi Arabia has a high demand for poultry meat, and it has been dependent on imports from other countries to satiate its demand. Thus, the country has been indulging in several trade deals with major meat-producing countries over the years. The growth in red meat consumption, production, and import of live animals for their auspicious occasion, i.e., Eid al Adha feast, utilization of Hajj meat that Islamic Development Bank manages, rise in import of red meat, and government support are some of the major factors driving cold chain logistics in Saudi Arabia as these products have a low shelf life.
2. Increasing Influx of Retail Stores:
Due to the rising young and urban population in the country, there has been a boom in the number of modern retail stores such as hypermarkets and supermarkets in the country as people prefer to purchase products from these stores. The Saudi Vision 2030 aimed to diversify and modernize the economy is expected to lead to the establishment of many new retail stores in the near future, which will positively impact the cold chain market.
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3. Increasing Demand for Temperature-Sensitive Products.
There is a constantly rising demand for products such as meat and seafood, dairy products, fruits and vegetables and other frozen and processed foods in the country. The increasing government impetus to improve the domestic production of food items in the country to diversify the economy is further expected to propel the demand for cold chain facilities. Analysts at Ken Research in their latest publication “KSA Cold Chain Market Outlook to 2027F- Driven By Increase in Retail Spending, Government Initiatives and Infrastructural Development” by Ken Research observed that KSA Cold Chain Market is in the growing phase.
Rising domestic consumption of meat, increasing seafood exports, rising retail spending and infrastructure development are some of the factors that will contribute to the KSA Cold Chain Market growth over the period of 2022-2027F. It is expected that KSA Cold Chain Market will grow at a CAGR of ~15% for the above forecasted period.
Market Taxonomy
- Cold Storage
- Cold Transport
By Ownership
- Owned
- 3PL Companies
By End User
- Meat and Seafood
- Vaccination and Pharmaceuticals
- Frozen Food
- Bakery
- Dairy Products
- Fruits, Vegetables and Others
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Cold Storage Market
By Temperature Range
- Frozen
- Chillers
- Ambient
By Automation
- Automated Pallets
- Non-Automated Pallets
By End User
- Meat and Seafood
- Vaccination and Pharmaceuticals
- Frozen Food
- Bakery
- Dairy Products
- Fruits, Vegetables and Others
By Major Cities
- Riyadh
- Jeddah
- Dammam
- Mecca
- Medina
- Others
Cold Transport Market
By Type of Truck
- Reefer Vans/Trucks
- 20 foot reefers
- 40 foot reefers and others
By Mode of Transportation
- Land
- Sea
- Air
By Location
- Domestic
- International
By Vicinity
- Inter-city
- Intra-city
By End User
- Meat and Seafood
- Vaccination and Pharmaceuticals
- Frozen Food
- Bakery
- Dairy Products
- Fruits, Vegetables and Others
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Due to the country’s big coastline, and high seafood consumption and meat consumption, it is expected that the cold chain market will grow in the forecast period in Portugal, and therefore the meat and seafood segment is expected to have a significant share in warehousing market’s revenue. Intelligent transport systems will make it possible to improve the safety and quality of the network, optimize traffic and relieve congestion in cities, and because of C-Roads, growth is expected in the cold chain market of Portugal. Also with the growing demand for temperature-controlled products and the entry of several new players are anticipated to propel the cold chain market.
The import of pharmaceutical products is expected to increase in the near future escalated due to COVID-19 pandemic. Along with this, the export of perishable products like fruits and vegetables, meat and seafood is also expected to increase as Brazil currently exports only a small portion of total production. This will increase the demand for cold chain services in the country especially the cold transport and will be a key growth driver in the coming future.
The cold chain market is expected to be fueled by increasing demand for temperature-controlled products in the country, the entry of several new players, and government initiatives and programs. Several cold chain operators are expanding their operations and setting up many new cold storage facilities to meet the high and growing demand for cold storage, giving a significant boost to the cold storage industry in Vietnam.
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.
The cold chain market is expected to be fueled by increasing demand for temperature-controlled products in the country, the entry of several new players, and government initiatives and programs. Several cold chain operators are expanding their operations and setting up many new cold storage facilities to meet the high and growing demand for cold storage, giving a significant boost to the cold storage industry in South Africa.
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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249
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