Nigeria Cold Chain Market Overview
Nigeria Cold Chain Overview
Cold Chain Market is still in the nascent stage, transitioning to growth stage, amounting to USD ~Million revenue in 2021, growing at a CAGR of ~% during the period 2016-2021E. The new innovative start-ups are targeting farmers, to tackle the food wastage problem that arises due to the lack of cold storage facilities. There are not many providers that offer cold chain service for the Nigeria market, and it is considered a niche market and is also at nascent stage with huge demand due to high wastage of fruits & vegetables.
How Is Rapid Cold Chain Market Is Positioned In Nigeria?
Nigeria Cold Chain Market Overview
Industry is still in the nascent stage, transitioning to growth stage, amounting to USD ~ Million revenue in 2021P, growing at a CAGR of ~% during the period 2016-2021E. There are not many providers that offer cold chain service for the Nigeria market, and it is considered a niche market and is also at nascent stage with huge demand due to high wastage of fruits & vegetables.
The market is moderately concentrated with only a handful of companies that partner with MNCs. Most of the companies operate on a smaller- scale due to a lack of investment. The new innovative start-ups are targeting farmers, to tackle the food wastage problem that arises due to the lack of cold storage facilities.
Nigeria Cold Chain Market Segmentations
By Cold Chain Market Size (by Revenue): Most of the cold warehousing players operate in the transportation market as well. This gives them an additional opportunity to increase their top-line, and the clients don’t have to look for another transportation partner.
By Cold Warehouse End-user: The meat and seafood, and fruits and vegetables together, are forecasted to make up majority of the total market.
By Cold Warehouse Geography: Lagos holds such a large share because it is one of the most populous cities in Nigeria. Secondly, it is in proximity with the Lagos port complex which is a major export and import hub.
By Cold Warehouse Pallets: The majority of the temperature-controlled warehouses have the capability to be converted from chilled to ambient and vice-versa. This gives the cold warehouse administrators the flexibility to serve to multiple end users industry with the same warehousing space.
By Type of End-User: Meat and Seafood is forecasted to be the largest segment share of the overall market. It is followed by vegetables and fruits, and pharmaceuticals. The vegetables and meat segment are driven by increased adoption of cold transport systems by locals.
By Mode of Transportation: The land segment dominates the cold transportation market during 2021-2026F. This is driven by increased refrigerated transport of fruits and vegetables, dairy products, and more.
By Type of Freight: The revenue generation from the international segment is the higher than domestic segment during 2016-21. This is driven by imports of pharmaceutical products such as vaccines in Nigeria. The development of Lekki Sea-port, which is going to be one of the largest ports in Nigeria once in operation, will further boost the international logistics market.
Supply Side Ecosystem For Nigeria Cold Chain Market
Nigeria Cold Chain Market is moderately consolidated with presence of both global and local companies; competing in the market with a total of ~XX major players are seizing the opportunity.
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Competition Scenario in Nigeria Cold Chain Market
The market is moderately consolidated with a few large companies holding up to majority stake of the market. The majority of other small players serve to only a small share of the market. Due to the lack of investment and pull from end-users, companies don’t usually investment in large fleet sizes. MDS, Red Star Logistics, TranEX, and Zenith Carex are some of the top players in the cold chain logistics industry. They offer warehousing as well as transportation services. These include packaging, labeling, batch separation, film-stretch application, palletizing, cross-docking, inventory management, documentation for exports, loading, unloading, and distribution among others.
Key Segments Covered:-
Nigeria Cold Chain Market
By Cold Chain Market Size (by Revenue), 2021 & 2026F
Cold Transportation (Revenue, Reefer trucks, Price)
Cold Warehousing (Revenue, Price, Space, occupancy rate)
Nigeria Cold Warehousing Market:-
By Pallet Size (by Revenue), 2021 & 2026F
Chilled
Frozen
Ambient
By End-User (by Revenue), 2021 & 2026F
Meat & Seafood
Fruits and Vegetables
Pharmaceuticals
Dairy Products
Others (Horticulture & more)
By Geography (by Revenue), 2021 & 2026F
Lagos State
Ogun State
Others (Imo State, Abuja State).
Nigeria Cold Transportation Market:-
By Mode of Transport (by Revenue), 2021 & 2026F
Land
Air
Sea
By Type of Freight (by Revenue/Price or No of Reefer Trucks), 2021 & 2026F
International Freight
Domestic Freight
By End-User (by Revenue), 2021 & 2026F
Meat & Seafood
Fruits and Vegetables
Pharmaceuticals
Dairy Products
Others (Horticulture & more)
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Key Target Audience:-
Cold Transport Companies
Warehousing Companies
Pharmaceuticals
Food & Vegetables Providers
Meat & Seafood Providers
Dairy products Companies
Government and Institutions
Time Period Captured in the Report:-
Historical Period: 2016-2020
Base Year: 2021
Forecast Period: 2022– 2026F
Companies Covered:-
MDS Logistics
Zenith Carex
TranEX
Red Star
Cold Hubs
Kenie-O-Cold Chain Logistics
Wigmore Trading
Flux Logistics
For more insights on the market intelligence, refer to the link below:-
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