Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "ASEAN Cold Chain Logistics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
SINGAPORE - The latest market analysis report reveals a significant expansion of the ASEAN Cold Chain Logistics Market, with estimations suggesting an increase from USD 8.34 billion in 2023 to USD 12.70 billion by 2028. This notable growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 8.77% during the forecast period from 2023 to 2028.
Key insights from the report highlight the impact of the urban population's growth and changing consumer preferences, which have fueled the need for refrigerated storage and transportation. The shift in distribution methods of food products toward modern supermarkets and convenience stores in Southeast Asia accentuates the increasing demand for efficient cold chain solutions.
In particular, the report underscores the halal food industry as a significant driver of the cold chain logistics market growth. With a large Muslim population in the ASEAN region, global brands are seeking to capitalize on this demographic's increasing purchasing power and changing spending habits. The construction of halal-certified cold storage facilities and advancements made by governments in the halal industry further suppers the anticipated growth.
The report furthermore highlights a microscope view of the escalating meat consumption in ASEAN countries as a catalyst propelling the cold chain logistics market. Diverse consumer meat preferences and rising imports of feedstuffs necessitate the expansion of cold storage facilities to maintain the quality and safety of perishable goods.
ASEAN Cold Chain Logistics Industry Structure
The ASEAN cold chain logistics market showcases a fragmented composition with both global and local market players. While smaller local entities continue to provide essential services, significant international players are expanding their influence by acquiring regional companies and strengthening their operational capacities.
Japanese logistics companies, especially, are becoming integral to this burgeoning market, with investments in land transportation and the construction of strategic supply chains within ASEAN countries for various industries, including but not limited to food, pharmaceuticals, and consumer goods.
Advanced technologies and innovations within the logistics sector, stimulated by the pandemic's influence, have brought about vital changes in operations, supply chain management, regulations, and workforce requirements. This evolution supports the growth trajectory of the refrigerated logistics market and fortifies the foundations for future expansions and developments.
Overall, the report presents an optimized overview of the ASEAN Cold Chain Logistics Market, providing industry stakeholders with valuable data and insights to strategically navigate the industry's future landscape.
This comprehensive analysis provides a beacon for businesses operating within this sector, highlighting lucrative opportunities and industry trends that are expected to shape the lineaments of the cold chain logistics market in Southeast Asia.
The ASEAN cold chain logistics industry is set to experience transformative growth in the coming years, propelled by advancements in the halal food market, increased meat consumption, and concerted efforts by governments to enhance infrastructure to support robust, integrated logistics networks across the region.
For business leaders, industry participants, and investors, this report serves as an essential resource, offering a thorough examination of market dynamics, opportunities, and challenges that will define the ASEAN cold chain logistics market's trajectory.
Additional data from the report and associated insights into the ASEAN Cold Chain Logistics Market and its projected growth are expected to influence strategic business decisions and investments in this burgeoning industry sector.
A selection of companies mentioned in this report includes
- Deutsche Post DHL
- DSV Agility Logistics
- Havi Logistics
- Jentec Storage Inc.
- JWD Logistics
- KOSPA
- MGM Bosco*
- Nippon Express
- NYK (Yusen Logitics & TASCO)
- PT. Pluit Cold Storage
- PT. Wahana Cold Storage
- Royal Cargo
- Sinchai Cold Storage
- Thai Max Co. Ltd
- Tiong Nam Logistics
- United Parcel Service of America
- Yamato Transport Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/cihy9e
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