Gurugram, India, May 20, 2024 (GLOBE NEWSWIRE) -- Vietnam cold chain industry is experiencing a frosty transformation, projected to reach a cool $10.2 billion by 2026. Fueled by a growing appetite for fresh produce, expanding food exports, and rising government support, Vietnam's cold chain infrastructure is undergoing a significant development. This press release, based on Ken Research's insightful report "Vietnam Cold Chain Market Outlook to 2026F- Driven by Rising Meat and Seafood Consumption Owing to Growing Millennial Population Albeit Infrastructure Challenges," explores the key trends propelling this dynamic market and offers valuable insights for investors, logistics companies, and food producers alike.
Chilling the Competition: Key Drivers in the Vietnamese Cold Chain Market
Several key drivers are keeping the Vietnamese cold chain market fresh:
- Food Consumption on the Rise: Demand for Cold Storage Soars: Vietnam's burgeoning population, with a growing middle class and a rising taste for fresh food, is driving the demand for cold storage facilities. The report estimates a significant increase in the consumption of meat, seafood, and dairy products, all requiring efficient cold chain solutions.
- Export Boom Fuels Cold Chain Expansion: Vietnam's booming agricultural exports, particularly seafood and fruits, necessitate a robust cold chain infrastructure. Maintaining product quality and freshness during transportation is crucial for meeting international standards and accessing new markets.
- Government Support Thaws Infrastructure Bottlenecks: The Vietnamese government recognizes the importance of a well-developed cold chain for food security and economic growth. Initiatives aimed at improving infrastructure, such as building new cold storage facilities and upgrading transportation networks, are expected to accelerate market expansion.
Interested to Know More about this Report, Request a Free Sample Report
Alternative Stat-Based Headings
- Foodie Nation: Rising Food Consumption Drives Vietnam's $10.2 Billion Cold Chain Market (Highlights the role of food consumption)
- Export Chill: Expanding Food Exports Fuel Demand for Cold Chain Logistics in Vietnam (Focuses on the impact of exports)
Market Segmentation: Keeping it Cool for Diverse Needs
The Vietnamese cold chain market caters to a variety of food categories and transportation requirements. Here's a closer look at the segmentation within this dynamic market:
- Refrigerated Warehousing Takes the Lead: Significant Market Share Expected for Refrigerated Warehousing: Refrigerated warehouses, providing temperature-controlled storage for perishable food items, are expected to hold a significant market share by 2026. This segment plays a crucial role in maintaining product quality and minimizing spoilage.
- Demand for Refrigerated Transportation Grows: The demand for refrigerated transportation solutions, including refrigerated trucks and reefer containers, is on the rise. This ensures proper temperature control during the movement of perishable goods across the country and for export purposes.
- Focus on Last-Mile Delivery: The growing demand for convenient food delivery services necessitates efficient last-mile cold chain solutions. This segment focuses on maintaining product freshness during the final leg of the journey to the consumer.
Visit this Link :- Request for custom report
Building a Competitive Landscape: Collaboration and Innovation Take Center Stage
The Vietnamese cold chain market features a mix of established players and emerging forces:
- International Giants Enter the Market: Recognizing Vietnam's potential, international cold chain logistics companies are entering the market. They bring global expertise in cold storage technology, logistics management, and best practices.
- Domestic Players Gain Momentum: Domestic Vietnamese cold chain companies are capitalizing on the market growth by expanding their storage capacities and service offerings. These companies offer local knowledge and agility, catering to specific customer needs within Vietnam.
- Focus on Technology Integration: Technology adoption is crucial for optimizing cold chain operations. Companies are implementing solutions like temperature monitoring systems, real-time tracking tools, and warehouse management software to improve efficiency and minimize food waste.
The Future is Smart and Sustainable: Emerging Trends Shaping the Landscape
The Vietnamese cold chain market is poised for exciting advancements:
- Integration of Artificial Intelligence (AI): AI is expected to play a transformative role in Vietnamese cold chain logistics. AI can be used for tasks like demand forecasting, route optimization, and predictive maintenance of cold storage facilities, leading to improved efficiency and cost savings.
- Rise of E-commerce Warehousing: The growth of e-commerce for food products will necessitate the development of a robust network of strategically located cold storage facilities closer to urban centers. This will enable faster delivery times and enhance customer satisfaction.
- Focus on Sustainability: Sustainability is becoming a key consideration for businesses in Vietnam. Green cold chain initiatives, such as using energy-efficient refrigeration technologies and sustainable packaging materials, are gaining traction.
Request free 30 minutes analyst call
Download the full report to gain a comprehensive analysis of the Vietnamese Cold Chain Market and its exciting future. This report equips you with the knowledge needed to navigate this dynamic landscape and position yourself for success in the vital Vietnamese cold chain industry.
Taxonomy
Vietnam Cold Chain Market Segmentation
By Market Type
- Cold Storage
- Cold Transport
By End User
- Pharmaceuticals and Vaccines
- Fruits and Vegetables
- Dairy Products
- Meat
- Processed foods
- Seafood
- Ice cream and frozen desserts
- Others
By Provider Type
- 3PL
- 2PL
Vietnam Cold Storage Market Segmentations
By Temperature Range
- Chilled
- Frozen
By Major Cities
- Dubai
- Abu Dhabi
- Sharjah
- Others
Vietnam Cold Transport Market Segmentation
By Mode of Transportation
- Land
- Sea
- Air
By Location
- International
- Domestic
By Type
- Long Haul (First + Mid Mile)
- Short Haul (Last Mile)
By Temperature Range
- Chilled
- Frozen
By Vicinity
- Inter-City
- Intra-City
For More Insights On Market Intelligence, Refer To The Link Below: –
Related Reports by Ken Research: –
The Australia cold chain market is anticipated to grow with a CAGR of 10.3% due to the ever-growing demand Majority of the end users’ segments are expected to register a robust CAGR in the Australia Cold Chain Market in the upcoming years Demand for perishable food products is expected to increase due to the rising disposable income and retail spending of the people in the country, which will necessitate the development of cold storage facilities and positively affect the market growth.
UAE Cold Chain Market is expected to grow at the rate of 4.6% in the forecast period 2022-2027 UAE Cold Chain Market Revenues are expected to be dominated by Cold Storage with over 50% share in 2027 Revenue in UAE Cold Chain Market is expected to grow with a CAGR of 4.8% till 2027 due to rising grocery spending and demand for small and medium storages.
According to Ken Research estimates, the Global Cold Chain Market will expand at significant rate by 2027, owing to the growing demand of processed ready-to-eat food, rising export volumes, expanding storage capacity and new and advanced technologies.
According to Ken Research estimates, the Indonesia Cold Chain Market grew at a CAGR of 10.7% in the period of 2016-2021 – is expected to grow at a CAGR of 12.9% in the forecasted period of 2021-2026F, owing to the change in lifestyle and urbanization, growing fisheries sector, expansion of existing cold storages and rising domestic consumption of meat.
Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249
