Development of Better Infrastructure: Development of LAKAJI Agricultural growth corridor and Lekki Sea-Port will significantly increase the efficiency of the logistics traffic. The 42 Free Trade Zones in Nigeria where companies can import and export without being subject to the usual customs and tax, boosts the logistics industry significantly. Improvement of pharmaceutical cold chain, existing players like Zenith Carex are investing to increase their presence in pharma-logistics. Increased investment will drive technological development, and will potentially lead to automation of warehouses and installation of IoT devices. This is will improve real-time data collection and analysis that will in turn lead to better cold chain management.
Adoption of New Technologies: Increased adoption of new technologies such as RFID, IoT, Temperature sensing systems, by players like Zenith Carex and MDS Logistics. Start-ups like cold hubs have emerged that work on cooling as a service model and offer solar powered storage units to tackle the problem of irregular power supply.
Increasing Imports of Cold Chain Commodities: Increased demand by pharmaceutical clients was witnessed in the wake of the COVID-19 pandemic, driven by the higher demand of medicines. Horticulture products, like flowers, also require ambient cold warehousing. The demand for these products decreased during the pandemic due to decreased social gatherings. Since the population of Nigeria is growing at a decent pace, and is expected to double by 2050, we can expect the demand of these substances to grow.
Increase in Investments: For the last few years the market is witnessing the entry of new innovative players like Cold Hubs. There has been a trend of new investments by international investment funds e.g., Triple I, an investment fund that invests in Sub-Saharan businesses to drive social impact decided to make an investment in the cold chain industry of Nigeria. The president of Organization for Technology Advancement of Cold Chain in West Africa, has recently urged all the state(s) and federal governments to invest in cold chain to reduce food wastage.
Analysts at Ken Research in their latest publication “Nigeria Cold Chain Market Outlook to 2026 – Driven by high food produce wastage due to lack of cold chain infrastructure, solar-focused start-ups, and increased disposable income of consumers” by Ken Research observed that Cold Chain market is an emergent market in Nigeria at a growing stage even during the pandemic as well. The rising of E-Commerce Companies and the increase in pharmaceuticals imports, along with the burgeoning demand for Processed and Packaged Foods, is expected to contribute to the market growth over the forecast period. The Nigeria Cold Chain Market is expected to see high growth rate over the forecasted period 2021-2026F.
Key Segments Covered:-
Nigeria Cold Chain Market
By Cold Chain Market Size (by Revenue), 2021 & 2026F
Cold Transportation (Revenue, Reefer trucks, Price)
Cold Warehousing ( Revenue, Price, Space, occupancy rate)
Nigeria Cold Warehousing Market:-
By Pallet Size (by Revenue), 2021 & 2026F
Chilled
Frozen
Ambient
By End-User (by Revenue), 2021 & 2026F
Meat & Seafood
Fruits and Vegetables
Pharmaceuticals
Dairy Products
Others (Horticulture & more)
By Geography (by Revenue), 2021 & 2026F
Lagos State
Ogun State
Others (Imo State, Abuja State).
Nigeria Cold Transportation Market:-
By Mode of Transport (by Revenue), 2021 & 2026F
Land
Air
Sea
By Type of Freight (by Revenue/Price or No of Reefer Trucks), 2021 & 2026F
International Freight
Domestic Freight
By End-User (by Revenue), 2021 & 2026F
Meat & Seafood
Fruits and Vegetables
Pharmaceuticals
Dairy Products
Others (Horticulture & more)
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Key Target Audience:-
Cold Transport Companies
Warehousing Companies
Pharmaceuticals
Food & Vegetables Providers
Meat & Seafood Providers
Dairy products Companies
Government and Institutions
Time Period Captured in the Report:-
Historical Period: 2016-2020
Base Year: 2021
Forecast Period: 2022– 2026F
Companies Covered:-
MDS Logistics
Zenith Carex
TranEX
Red Star
Cold Hubs
Kenie-O-Cold Chain Logistics
Wigmore Trading
Flux Logistics
Key Topics Covered in the Report:-
Nigeria Cold Chain Market Overview
Nigeria Cold Chain Market Economy
Nigeria Cold Chain Market Demographics
Nigeria Cold Chain Market Value Chains
Ecosystem of Major Entities in Nigeria Cold Chain Market
Current Technologies in Nigeria Cold Chain Market
Current Solar-based Technologies in Nigeria Cold Chain Market
Cross Comparison of Technologies in use in Nigeria Cold Chain Market
Emerging Technologies in Nigeria Cold Chain Market
Logistics Infrastructural Analysis of Nigeria.
Genesis of Nigeria Cold Chain Market
Nigeria Cold Chain Market Size and Segmentations
COVID Impact on Cold Chain Industry of Nigeria
Trends and Developments in Nigeria Cold Chain Market
Issues and Challenges in Nigeria Cold Chain Market
Decision Making Process and Factors for selecting a logistics partner in Nigeria
Decision Making Parameters for selecting a logistics partner in Nigeria
Strengths, Weaknesses, Opportunities and Threats for Nigeria Cold Chain Industry
Competition Landscape
Strengths and Weaknesses of Major Players in Nigeria Cold Chain
End-User Potential in Nigeria Cold Chain Market
Future Market Outlook and Segmentations for Nigeria Cold Chain Market
Cold Transportation Future Market size by Revenue and Segmentation, 2022-26F
Cold Chain Future Market Segmentation by End Users, 2022-26F
Analyst Recommendations
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