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Philippines Cold Storage Warehousing to Increase and touch USD 1,400 million in 2020: Ken Research
Philippines Cold Chain Market has witnessed significant growth over the period 2010-2015. Government initiatives, high domestic consumption and market’s growing food safety concerns have propelled the Philippines cold chain market over the period 2010-2015.
Philippines Cold Chain Market has witnessed significant growth over the period 2010-2015. Government initiatives, high domestic consumption and market’s growing food safety concerns have propelled the Philippines cold chain market over the period 2010-2015. Additionally, there has been a gradual shift of people purchasing frozen products from supermarkets instead of wet markets in Philippines over the past five years.
Transport and storage are the two critical factors in the cold chain logistics in the Philippines. The cold chain logistics has been largely dominated by cold transportation which has contributed the largest share to the overall market during 2015.
According to Research Associate at Ken Research, Philippines cold chain market can be broadly classified into Express Services and Non-Express services. Non-Express services have dominated the cold chain market over the period 2010-2015. Charges for Non Express services are considerably less as compared to express services. People generally opt for cold chain express services when the shipment they need to send, has a certain time constraint attached to it.
Perishable products such as fish, meat, vaccines, cakes, fruits and vegetable are perishable commodities which require cold chain logistics. Fruits and vegetables are products which are desired fresh by consumers. This makes adequate cold chain facilities as a major requirement for storing and preserving fruits and vegetables.
Medium sized cold storage warehouses have accounted for the largest share of 44.0% in the total cold storage warehousing capacity of Philippines in 2015.
There were 235 cold storage warehouses in Philippines during 2015. The cold storage market is very fragmented with the presence of more than 100+ cold storage companies in the country. In terms of capacity, the market for cold chain logistics has been led by Jentec Cold Storage Inc. Other major players include Glacier, Royal Cargo and Vifel.
Third party cold chain logistics providers are independent companies that provide multiple cold chain logistics services to a purchasing company as integrating customized services for storage and transport. Third party logistics providers are legally bound and responsible for performing the requested cold chain logistics activities for the purchasing company, According to Research Associate at Ken Research.
