The Philippines Cold Chain Market was estimated to develop at a CAGR of XX% between 2020 and 2025 as a result of the 2004 launch of the ‘Philippines National Cold Chain Program,’ which aided in the establishment of cold chain facilities in main areas of North, Central, and South Philippines. The cold storage over transit business has mostly pushed the market.
According to the research report, “Philippines Cold Chain Market Outlook to 2025: Driven by Rising Processed Food Consumption Owing to Growing Millennial Population Albeit Infrastructure Challenges” asserts that government initiatives will propel the Philippines Cold Chain Market during the forecast period of 2025. Government initiatives such as the ‘Philippines Cold Chain Project,’ which was established in 2014, the ‘Build, Build, Build’ project, which was introduced in 2018, and the yearly Philippines cold chain expos held by CCAP have been good for industry growth. Furthermore, the cold chain business has been fueled by expanding meat consumption, constant seafood output, and an increase in preventable diseases among Filipinos, which has increased the demand for vaccinations and pharmaceuticals.
Cold storage has been a primary growth driver for the cold chain industry. During peak seasons, such as Ber season for meat and seafood, occupancy rates are similarly high, often exceeding 100% capacity, forcing enterprises to act as intermediaries between customers and their sister/partner companies. Royale Cold Storage, ORCA Cold Chain, Vifel Ice Plant, and Cold Storage, Koldstor, and Polar Bear Freezing and Storage Corporation are some of the industry’s leading cold storage companies. The government has also shown its support for the sector by increasing its subsidies for cold storage.
Cold transport is defined as the moving of temperature-sensitive goods along the supply chain using heated and frozen packaging methods and logistical planning to extend the shelf life of consignments. Product transportation techniques include refrigerated trucks and railcars, frozen cargo ships, and air freight. Furthermore, 4, 6, and 8-wheeler reefer trucks with capacities ranging from 1 to 10 tonnes can be found plying the roads of the Philippines.
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Some major key players in the Philippines Cold Chain Market are Aspen Cold Storage, Koldstor Inc., Big Blue Logistics, VVS Cold Storage, Royal Cargo, Frabelle Cold Storage, Met Logistics, Glacier Megafridge, Jentec Cold Storage, San Simon Cold Storage, Technofreeze, WCL Cold Storage, Igloo Supply Chain, and Others.
Among these players, there are five main players having the highest share in the market namely Jentec Storage, Glacier Megafridge, Mets Logistics, Royal Cargo, and Big Blue Logistics. Furthermore, cold chain firms competed on characteristics such as location, pricing, temperature range, and degree of integrated services. These businesses also invest substantially in social media marketing and directly schedule meetings with potential customers to pitch their products.
Over the forthcoming years, the Philippines Cold Chain Market will have a rapid boost due to the rising food service businesses. The market is expected to have a positive CAGR of 9.9% during the anticipated period of 2020-2025. Changes in lifestyle and consumption habits, increased infrastructure investment to improve connectivity for cold transport businesses, high domestic demand for fish, seafood, and meat products, increased emphasis on ISO and LEED certifications for cold storage, automation in cold storage through ASRS, WMS, and RFID, and incorporation of quick or blast freezing services are some of the other factors.
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Ankur Gupta, Head Marketing & Communications