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The Philippines cold chain market is expected to cross PHP 22 Bn in the future owing to rising domestic consumption of meat and seafood along with increasing government initiatives and investments in the sector: Ken Research
GURUGRAM, India, Sept. 20, 2022 /PRNewswire/ -- Adopting Automation and Modern Technologies: Technological advancement is expected to play a major role and new facilities are being built to improve the efficiency of food supply storage and its distribution. Examples include IoT sensors that monitor food temperature and communicate the data to cloud-based analytics dashboards. Artificial Intelligence (AI) is then used to correlate data from various sources such as power cost, weather, distribution logistics, cooling capacity and schedules to provide the optimum storage and distribution infrastructures.  Expanding Cold Chain Market: Infrastructural development by the government, increasing number of food businesses and inclining number of cold transport companies propelled the market. Moreover, the rapid shift of distribution of food products from traditional markets toward supermarkets and convenience stores is increasing the need for reefer trucks as major distributors hire 3PL for shipping via insulated trucks. Increase Tie-ups with Various End-User Companies: Cold chain companies are collaborating with the producers of temperature-sensitive products such as meat and seafood, fruits and vegetables, dairy products, bakery and confectionery, pharmaceuticals and others, in order to build long-term associations with them and procure bulk orders. Additionally, improving lifestyle, modernization and growing young population, the frozen food service industry is expected to grow at a robust CAGR during the forecast period of 2021 to 2027, thereby augmenting cold chain companies' demand. Analysts at Ken Research in their latest publication "Philippines 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 the market is highly fragmented and is home to 100+ cold transportation & storage players enabling the market to transform over the years. 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, is expected to contribute to the market growth over the forecast period. The Philippines Cold Chain Market is expected to grow at a CAGR of 9.3% over the forecasted period 2021-2026F. Key Segments Covered: Philippines Cold Chain Market
Philippines Cold Transport Market
Philippines Warehousing Market
Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTkyNDgz Philippines Cold Storage Market
Key Target Audience
Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTkyNDgz Companies Covered:
Key Topics Covered in the Report:
For more information on the research report, refer to below links: Related Reports: 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. 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. 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. While the capacity of cold storage solutions has improved considerably at an aggregate level (XX Mn MT in 2020), there is a lack of cold chain infrastructure at farm-gate and transportation level. Snapshots on cold storage solutions of top 5 capacity states – Uttar Pradesh, West Bengal, Gujarat, Punjab and Andhra Pradesh and certain select states – Maharashtra, J&K & Himachal Pradesh, further indicate the inefficiencies as a single commodity storage unit and emphasize on lack of modern technology (controlled atmosphere, pre-conditioning rooms) of such units. The industry is dominated by Sea and land freight Movements considering its huge import and Exports with Asian countries such as China and India. The country has strong trade relations with Australia, European countries, US, and neighboring South East Asian countries such as Thailand and Vietnam. No international freight is by Land due to its geographical limits. Airfreight is quite expensive than any other Mode and is usually used for Express Shipments. Indonesia also has a strong warehousing market segment with huge space catered by warehousing players and renting out at quite high rates. Warehouses are concentrated in areas of Greater Jakarta, Surabaya and Makassar due to high population and presence of Seaports. The Courier, Express, and Parcel market is driven by growth in Last-Mile deliveries and the E-Commerce segment in the country. About Us: Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition. We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators. With a network panel list of 5000+ Industry Veterans and experienced 100+ analysts, consultants and research publishers across the globe, Ken Research aid clients in identifying the demand–supply gap, niche segments and challenges in the ecosystem. We currently caters to clients in verticals such as Education, Automotive, Agriculture, Banking, Financial Services & Insurance (BFSI), Healthcare, Consumer Products, Retail and others segments. Follow Us: LinkedIn | Instagram | Facebook | Twitter | YouTube Contact Us: Logo: https://mma.prnewswire.com/media/661352/Ken_Research_Logo.jpg 
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