Vietnam Cold Chain Logistics Market is anticipated to grow at a steady pace in the forecast period, 2024-2028 & growing at a very high CAGR in the forecast period.
The cold chain includes both the supply chain and temperature-controlled surface transportation. The phrase “cold chain logistics” refers to the freezing processes required to maintain the quality and shelf life of items, such as fresh fruits, vegetables, frozen meals, photographic film, chemicals, and pharmaceuticals. For extending product shelf life, avoiding overcapacity, minimizing transit bottlenecks during peak periods, and assuring product quality, cold chains are essential. The process makes use of temperature-controlled facilities for product storage as well as cold-insulated transport vehicles for product distribution.Using cold chain logistics procedures, products such as fruits, vegetables, meat, livestock, medicines, and other things are often transported and kept. Transport methods that are often used include refrigerated vehicles, railcars, air freight, and refrigerated cargo.The cold chain industry is essential in minimizing the wastage of perishable products and commodities by providing farmers with reasonable prices for their products. In the pharmaceutical industry, cold chain logistics enhances the efficacy of drugs along the supply chain.
Vietnam’s Agricultural Trade Growth
The agriculture sector in Vietnam has had rapid expansion over the past two decades, with an export value compound average growth rate (CAGR) of 12.5%/year from 2001 to 2017 and an import value CAGR of 13.6%/year from 2001 to 2017. . The most popular agricultural exports are, shrimp, cashew nuts, fruits and vegetables, coffee, rice, rubber, and pangasius. Additionally, The biggest growth were seen in fruit and vegetable exports, which increased from less than USD 500 million in 2010 to USD 3.5 billion in 2017.. Meanwhile, significant portions of the country’s agricultural import structure are made up of items connected to cattle, intermediary seafood for further processing, and fruits and vegetables.The demand for cold chain logistics services in Vietnam is primarily driven by perishable goods like seafood, fruit and vegetables, and meat. From the export perspective, chilled/frozen shrimp and pangasius finished products, which together makeup two-thirds of the value of seafood exports, control the growth of the cold service demand. The Mekong River Delta plays a key role in driving demand for cold chain logistics services, since it is where most of the raw materials are prodcued and processing for seafood exports is done. According to Stoxplus (2016), the storage market in Vietnam’s South is 14 times greater than it is in the North.Diseases and unfavorable weather conditions have sometimes caused shortages of shrimp materials supplies in Vietnam’s seafood industry over the past eight years, forcing imports of raw shrimp from India and Ecuador to make up for the shortfall. An emerging phenomenon is the importation of intermediate seafood components by seafood producers with sufficient processing capacity, processing, and re-exportation to foreign markets. The value of all imported frozen salmon, tuna, mackerel, and cod increased from USD25 million to USD400 million between 2005 and 2017, making Vietnam a notable global outsourcing centre for the processing of seafood. It is anticipated that the ongoing trade dispute between the United States and China would encourage a shift in intermediary seafood flows from China to Vietnam.
E-commerce Expansion and More Consumer Options
Vietnam’s e-commerce revenues are rising quickly, tempting several foreign investors to establish offices there. Consumers now have access to products like international food that were previously beyond of their financial range. As more individuals relocate into metropolitan areas, attitudes about frozen and chilled foods have substantially altered. More frozen dinners are being sold online by shops.E-commerce is redefining online shopping, and the increase in sales of chilled and frozen items generates a need for cold chain infrastructures, including refrigerated transportation, storage facilities, and an efficient supply chain. Online customers no longer see e-commerce as a method to get discounts on pricey goods like gadgets; instead, they have broadened their online buying preferences to include less expensive necessities like food, clothes, and cosmetics. Due to the tremendous increase in sales of fresh food, there are also new opportunities and problems for leasing cold storage in the nation. Since supermarkets are under pressure from an increase in online transactions, the responsibility for storage and shipment is falling to other parties. Due to the COVID-19 pandemic, lockdown, modifications in how people shop online, and other things, the need for frozen food is always rising. Cold chain logistics services are used by e-commerce businesses to meet this demand as soon as possible.Download FREE Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=14766
Market Segmentation
The Vietnam Cold Chain Logistics Market is divided into Type, Application, Temperature Type, Technology, Region and Competitive Landscape. Based on Type, the market is divided into Refrigerated Warehouse and Refrigerated Transportation. Based on Application, the market is segmented into Seafood, Meat, Fruit & Vegetable, Dairy Products, Alternative Protein, and Others. Based on Temperature Type, the market is divided into Frozen, Chilled. Based on Technology, the market is segmented into Dry Ice, Gel Packs, Eutectic Plates, Liquid Nitrogen, and Quilts.
Market Players
Major market players in the Vietnam Cold Chain Logistics Market are Lotte Global Logistics Vietnam Co Ltd, Konoike Vinatrans Logistics Co. Ltd, CLK Cold Storage Co. Ltd, Hung Vuong Corporation, New Land Co. Ltd, Mekong Logistics Joint Stock Company, Lineage Logistics Holding LLC, DSV, DB Schenker Vietnam Co., Ltd., Agility Logistics Vietnam Co. Ltd, APL Logistics Vietnam Co. Ltd
AttributeDetailsBase Year2022Historic Data2018– 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in USD Million, and CAGR for 2018-2022 and 2024-2028Report CoverageRevenue forecast, company share, growth factors, and trendsSegments Covered TypeApplicationTemperature TypeTechnologyCountry scopeNorth Vietnam, Central Vietnam, South VietnamKey companies profiledLotte Global Logistics Vietnam Co Ltd, Konoike Vinatrans Logistics Co. Ltd, CLK Cold Storage Co. Ltd, Hung Vuong Corporation, New Land Co. Ltd, Mekong Logistics Joint Stock Company, Lineage Logistics Holding LLC, DSV, DB Schenker Vietnam Co. Ltd, Agility Logistics Vietnam Co. Ltd, APL Logistics Vietnam Co. Ltd.Customization scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and purchase optionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, the Vietnam Cold Chain Logistics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- North Vietnam Cold Chain Logistics Market Outlook
7.1. Market Size & Forecast7.1.1. By Value7.2. Market Share & Forecast7.2.1. By Type7.2.2. By Application7.2.3. By Temperature Type
- Central Vietnam Cold Chain Logistics Market Outlook
8.1. Market Size & Forecast8.1.1. By Value8.2. Market Share & Forecast8.2.1. By Type8.2.2. By Application8.2.3. By Temperature Type
- South Vietnam Cold Chain Logistics Market Outlook
9.1. Market Size & Forecast9.1.1. By Value9.2. Market Share & Forecast9.2.1. By Type9.2.2. By Application9.2.3. By Temperature Type
- Market Dynamics
10.1. Drivers10.1.1. Strong demand for meat, and dairy10.1.2. Rising processed food products10.1.3. Growing Urban Population