According to SPER Market Research, The Vietnam cold chain market refers to the systems and tools that are used to move and keep perishable goods including food, medicines, and other perishable items at a controlled temperature along the whole supply chain. The cold chain is necessary to maintain the quality, safety, and freshness of these products from the point of production to the final consumer. The nation’s growing middle class, rising incomes, and increasing demand for perishable goods are all contributing to the rapid growth of Vietnam’s cold chain sector. A key factor in the development of the nation’s cold chain sector is its strategic location as a hub of trade and commerce in Southeast Asia.
Vietnam Cold Chain Market Overview:
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
Vietnam’s government has realised the importance of building a cutting-edge and efficient cold chain infrastructure in order to increase economic growth and regional competitiveness. Only a few of the policies and programmes the government has implemented to promote investment in the cold chain business include tax incentives and financial support. In conclusion, the Vietnamese cold chain sector is a crucial area of the country’s economy and is currently expanding at a phenomenal rate. Due to an increase in perishables demand and a favourable political environment, it is projected that the industry will continue to expand in the years to come.
The COVID-19 epidemic has had a substantial impact on the Vietnamese cold chain market. The disruptions in global supply networks and the measures taken to stem the virus’s spread have made it more challenging to store and transport perishable goods. COVID-19 has had a substantial impact on the cold chain industry, increasing the need for temperature-controlled storage and transit of medical items, including immunisations, testing kits, and personal protective equipment (PPE). Since the Vietnamese government has prioritised the distribution of vaccines throughout the country, demand for cold chain logistics services has skyrocketed.
However, the epidemic has also led to a decline in demand for a number of perishable goods, such as fruits and shellfish, as a result of trade restrictions and decreased consumer demand. The utilisation of cold storage facilities and refrigerated transportation has decreased as a result, which has an impact on the income and profitability of cold chain operators. The outbreak has also interrupted the supply chain, which has increased the cost of various commodities and caused a shortage of supplies and equipment for the cold chain. As a result of these issues, cold chain operators have been forced to swiftly adapt and put new measures in place to secure the safety of their workers and the things they handle.
Vietnam Cold Chain Market Key Players:
The market study provides market data by the competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ABA Cooltrans, AJ Total Vietnam, ALS Avaition Logistics, ARC Bing Duong, Arctic Wolf, Crane Worldwide Logistics, Emergent cold storage, Hong Lai Group, Hung Vuong Corporation, Konoike, Lineage, Lotte logistics, Mekong Logistics, New Land Logistics, SK Cold Storage, Thang Long Logistics, Transimex, Vinafco.
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Vietnam Cold Chain Market Segmentation:
By End User: Based on the End User, Vietnam Cold Chain Market is segmented as; Dairy and Bakery, Fruits and Vegetables, Meat and Seafood, Vaccination and Pharmaceuticals, Others.
By Ownership: Based on the Ownership, Vietnam Cold Chain Market is segmented as; 3PL Cold Chain Facilities, Owned.
By Region: This report also provides the data for key regional segments of Da Nang, Hanoi, Ho Chi Minh City.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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