Philippines Cold Chain Logistics Market Overview:
The Philippines Cold Chain Market has seen a comprehensive and a significant growth over the last few years owing to rising domestic consumption of meat and seafood, expansion of existing warehousing by companies and increasing government initiatives and investments.
This results in high demand for low temperature control services including cold transport and cold storage pallets for frozen food products and pharmaceuticals. While the majority of Philippines had been in a state of lockdown, cold chain businesses were still open as the sector was classified as essential, during Covid-19 crisis. There was an acute shortage of cold chain solutions especially in rural areas which augmented the demand in this industry. The market also faced few challenges of high maintenance costs indicating a dire need for government and private initiatives to instill momentum in the sector. However, the country witnessed an increase in online food retail, inevitably affecting the food supply chain and positively impacting the cold chain sector as they witnessed an increase in demand for pallet space in their facilities as a result of the pandemic.
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The rise in the demand for processed food in the country has necessitated the development of cold chain facilities in the country and has propelled the growth of the industry in Philippines.
Presently, the market is in its growth stage owing to rising domestic consumption of meat and seafood, expansion of existing warehousing by companies and increasing government initiatives and investments in the country. Also, the rising middle class, booming e-commerce market and the decentralization trend outside of Metro Manila are shaping the Philippines Cold Chain Industry Market.
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Philippines Cold Chain Market Segmentation:
By End User: Meat & Seafood segment dominates majority of the market revenue share, followed by others.
By Ownership: The Philippines Cold Chain Industry Ecosystem is Driven by Large Scale 3PL Companies. This holds for both storage and transportation.
By Type: The Philippines Cold Chain market can be further classified into Cold Storage and Cold Transport.
Philippines Cold Transport Market Segmentation:
Philippines cold transport market was evaluated to grow positively during 2016-2021. Infrastructural development by the government, increasing number of food businesses and inclining number of cold transport companies are propelling the market growth. Correspondingly, increasing 3PL services for reefer trucks and rising demand for fast food from quick service restaurants has been the major growth driver for cold transport market in Philippines. However, due to the extreme weather conditions, moving cold chain commodities such as pharmaceutical and dairy products within Philippines always bears a higher risk. Government is planning to increase infrastructure expenditure reaching significant proportion of GDP by 2022. This is projected to positively impact road network for cold transport services.
By Truck Type: Mostly smaller vans with 5-10 tons capacity are used due to underdeveloped road infrastructure.
By Mode of Transportation: Cargo transportation is done by road and RORO facility which is more economical way to transport the goods between the Islands.
By Location: Philippines cold transport market is largely import oriented.
By End User: Meat & Seafood segment dominates majority of the market revenue share, followed by others.
Philippines Cold Storage Market Segmentation:
By Temperature range (by number of pallets): The companies charge varying prices from their clients on per pallet per day basis.
By Automation (by pallets): Surge in demand of value-added services has made cold storage companies opt for automation services.
By Region: There is high concentration of warehouses in Luzon Island group owing to several factors.
Market Size of Major End Users:
The report also cover market size of major End Users of Frozen Storage market in Philippines such as Meat and Seafood market, Dairy Products market, Pharmaceutical market and Ready-to-Eat market.
Competition Landscape in Philippines Cold Chain Market?
The Cold chain market is highly fragmented and is home to triple digit cold transportation & storage players (not including captives). Additionally, Cold chain companies are competing on parameters such as number of Warehouses, Location, Temperature range offered, Pallet Positions, Pallet Positions by type, Prices, Occupancy rate, Revenue PHP. Increased technological innovations, expansion of pallets by major companies, entry of new players such as Antarctica Cold Storage, Aspen Logistics, San Simon and more have added more competition parameters in the market. Other companies include Glacier Megafridge, Royale Cold Storage, Big Blue Logistics, Mets Logistics, ORCA Cold Chain, Fast Logistics Group, Igloo Supply Chain, Arctic Cold Storage, VVS Cold Storage (Vifel), Antarctica Cold Storage, Crystal Cold Storage, JM Processing, San Simon Cold Storage, Estrella Cold Storage, Cebu Subzero Logistics, Everest Cold Storage, Aspen Cold Storage
What is the Future Outlook of Philippines Cold Chain Market?
Philippines cold chain market is expected to register a positive CAGR during 2021-2026F owing to increasing infrastructure investment to improve connectivity for cold transport business, high domestic demand for seafood and meat products, growing focus on ISO and LEED certifications for frozen storages, automation in cold storages through ASRS, WMS and RFID and incorporation of quick or blast freezing services. 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.
Key Topics Covered in the Report
- Executive Summary
- Temperature Controlled Storage Market Philippines
- Research Methodology including market definitions, market size and modeling
- Industry Value Chain for Philippines Cold Chain companies
- Philippines Cold Chain Market size (by revenue)
- Philippines Cold Chain Market Segmentation (by Cold Storage & Cold Transport, by End User Application, by Ownership)
- Landscape on Philippines Warehousing Market
- Snapshot on Philippines Cold Storage Market
- Snapshot on Philippines Cold Transport Market
- Industry Analysis for Philippines Cold Chain Market
- Issues and Challenges in Philippine Cold Chain Market
- SWOT Analysis of Philippines Cold Chain Industry
- Competitive Landscape in Philippine Cold Chain Market
- Philippines Cold Chain Market Future Market size and predictions
- Analyst Recommendations
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