Begnaluru, April 11, 2016:KEN RESEARCH announced its latest publication on “PHILIPPINES COLD CHAIN MARKET OUTLOOK TO 2020- PHILIPPINES COLD CHAIN PROJECT AND RISING CONSUMER DEMAND FOR FROZEN FOOD TO FOSTER FUTURE GROWTH” which provides a comprehensive analysis of the cold chain market in Philippines. The report covers various aspects such as market size of Philippines cold chain market, segmentation on the basis of cold storage and cold chain transport, B2B and B2C segments, Type of Deliveries-Express and Non-Express, products, regional cold storage warehousing capacity and others. The report will help industry consultants, manufacturing companies of temperature sensitive goods, cold chain service providers in the country and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. The market comprises of a number of cold chain service providers such as Jentec Cold Storage, Glacier, Polar Bear, Royal Cargo, Vifel, Royale Cargo, Igloo , 2GO Logistics and others.
The cold chain market for Philippines will continue to grow at a considerable pace in the next few years with addition of new players and continuous support from government. The market is predicted to grow at a CAGR of ~% from 2016-2020. Philippines cold chain market has been valued at INR ~ million in 2015. Over the last few years from 2010-2015, the industry has observed an average annual growth of ~% in value terms. The growth in the cold chain market over the period 2010-2015 was primarily supplemented by growing demand for temperature controlled products in the country, entry of several new players and government initiatives and
programs. Additionally major players such as Royal Cargo, Jentec Cargo and Glacier have expanded their cold storage capacity and operations in the country over the period 2010-2015.
According to the research report, the Philippines cold chain market will grow at a considerable CAGR rate reaching USD ~ million by 2020 due to Philippines Cold Chain Project and other cold chain programs. Furthermore, augmenting sales of Pharma and other temperature controlled products will provide the impetus for growth in Philippines cold chain logistics market over the period 2016-2020.
“According to Research Associate at Ken Research, the Government should take certain measures to reduce the rate of electricity and cut down certification cost in order to provide spurt to market revenues. On the other hand, domestic players in the market should establish their operations in the untapped areas as the competition is very less and potential for growth is huge.
Corporate Comm India (CCI Newswire)
