- Government is planning to increase infrastructure expenditure reaching approximately 7% of GDP by 2022. This is projected to positively impact road network for cold transport services.
- Most cold storages in Philippines are NMIS accredited. However, an uptake in the ISO and LEED certifications for cold storages is projected during the period 2021 to 2026 for several cold storage companies.
- Major cities apart from Metro Manila such as Cebu, Davao and Navotas are emerging as a hot bed for frozen warehousing since most of the industrial regions are also located nearby.
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
- By Revenue Split
- Cold Transport
- Cold Storage
- By End User
- Meat and Seafood
- Dairy Products
- Processed Frozen Foods
- Vaccination and Pharmaceuticals
- Fruits and Vegetables
- By Ownership
- 3PL Cold Chain Facilities
- Owned
Philippines Cold Transport Market
- By Truck Type