How Philippines Cold Chain Market is Positioned?
Cold chain industry’s evolution in Philippines commenced after the construction of Philippines Nautical Highway System in 2003 which is a ~ kilometre long and has reduced the previous usual travel time to the different key cities in Philippines. It is also called the Roll-On/Roll-Off system or the RO-RO system. RO-RO happens to be a key mode of sea transport for cold chain in the country till 2018.
Cold chain industry is a capital intensive business with the dependence on seasonality due to perishable processed food industry. The industry witnesses over half year of normal season and few months of the peak season. In the peak season, the demand is somewhere from ~% to ~% of normal season volume. In the peak season, the cold storage needs to have streamlined coordination between the producers, storage operations and market operations.
The Philippines cold chain market has witnessed significant growth after the launch of ‘Philippines National Cold Chain Program’ in the year 2004. According to the program, cold chain facilities were established sector. Assistance was provided to interested entrepreneurs and investors to set-up their own cold chain enterprises.
Furthermore, project also provided a cold chain technology databank and market linkage program. Additionally, tramline systems were also established in the highland areas where temperate vegetables were in major areas of North, Central and South Philippines. The project has been implemented in significant collaboration with the private grown. The market has experienced growth after the launch of this program in 2004.
The Philippines cold chain market was evaluated to be PHP ~ billion in the year 2018 and has grown at a CAGR of ~% during the period of 2013-2018. The market witnessed a significant growth after the launch of ‘Philippines National Cold Chain Program’ in 2004 which helped in establishment of cold chain facilities in major areas of North, Central and South Philippines. Government initiatives such as ‘Philippines Cold Chain Project’ launched in 2014, the ‘Build, Build, Build’ government initiative launched in 2018 to improve the state of infrastructure in the country, the annual Philippines Cold Chain Expo by CCAP and the growing number of quick service restaurants in the country have also been vital factors for the growth in market.
HOW Philippines Cold Chain Market is Segmented?
By Type of Market: In Philippines Cold Chain Market, Cold Storage accounted for the largest share in the overall cold chain market during 2018. The share has enhanced from ~% in 2013 to at ~% in 2018. This increase in the share of cold storage market has been perceived on the grounds of increasing subsidies by the government on infrastructure development in the country under its ‘Build, Build, Build’ initiative. On the other hand, the market share of cold transport in the overall revenues of cold chain market of Philippines has consistently declined from ~% in 2013 to ~% in 2018. The key contributive factors include the on-going truck ban in the country which limits the number of transport vehicles on road during specific hours of the day and the rising demand for cold storage requirements in the country.
By Products: Perishable products such as fish, meat, vaccines, cakes, fruits and vegetables are perishable commodities which require cold chain logistics. Meat and seafood have accounted for the largest revenue share of ~% in the Philippines cold chain market during 2018. Fruits and vegetables happen to be the second leading category in the cold chain business of the country. They are common daily need products such as bananas, berries, onions, lettuce and more which are desired fresh by consumers. This makes adequate cold chain facilities a major requirement for storing and preserving fruits and vegetables. The category with third highest market share in the industry was calculated to be dairy products which includes products like milk, cheese and butter. Dairy products are also very common and have a high demand in Philippines. Bakery and confectionary comprises of items such as milk, curd, ice creams and others which could easily perish in minutes under hot and humid climatic conditions of Philippines. This makes cold chain an essential requirement for such products in Philippines. Vaccines and other pharmacy products have contributed ~% to the revenues of the cold chain industry in Philippines during 2018. Other products such as chemicals, eggs, animal feed, processed foods such as hotdogs fries and more have contributed to the remaining share of ~% in the cold chain market of Philippines in 2018.
Future Outlook to Philippines Cold Chain
Philippines cold chain market has witnessed notable growth over the period 2019-2023. Growing demand for temperature controlled products in the country, entry of several new players and government initiatives and programs have propelled the cold chain market over the period 2019-2023. Additionally major players such as Jentec Cold Storage, Royal Cargo and Glacier Megafridge have significantly expanded the capacity of their cold storage facilities during the period 2013-2018. This has resulted in an impressive growth in the market at a CAGR of ~% over the period 2013-2018. Thus, the market was evaluated to reach PHP ~ billion in the year 2018. The future prospects of the cold chain industry in Philippines look quite promising. The growth of the Philippines cold chain market is expected to accelerate over the forecasted period 2019-2023 owing to initiation of the Philippines Cold Chain Project and other cold chain programs conducted by both the government and CCAP. Furthermore, augmenting sales of meat, seafood and pharmaceuticals are expected to lay the foundation for growth in Philippines cold chain market during the period 2019-2023.
Key Segments Covered:-
Philippines Cold Chain Market
Philippines Cold Chain Market Size
Philippines Cold Chain Market Segmentation
By Type of Market
By Products
Philippines Cold Chain Market Future Outlook
Philippines Cold Storage Market
Philippines Cold Storage Market Size
Philippines Cold Storage Market Segmentation
By Operations
By Temperature
By Size of Firms
By Region
By Ownership
Philippines Cold Storage Future Outlook
Philippines Cold Transportation Market
Philippines Cold Transportation Market Size
Philippines Cold Transportation Market Segmentation
By Mode of Transport
By Mode of Land Transport
By Location
By Vicinity
By Ownership
Philippines Cold Transportation Future Outlook
Key Target Audience:-
Cold Storage Companies
Cold Chain Companies
Active and Passive Pallet Manufacturers
Freight Forwarding Companies
Companies Seeking Col Chain Solutions
Cold Chain Logistics Companies
Companies seeking logistics services
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Companies Covered:-
Jentec Storage Inc.
Vifel Ice Plant and Cold Storage Inc.
Glacier Megafridge Inc.
Royal Cargo Inc.
Royal Cold Storage Inc.
Koldstor Inc.
Polar Bear Freezing & Storage Corporation
Big Blue Logistics Corporation
Arctic Cold Storage
Antarctica Cold Storage
Frabelle Cold Storage
Mets Logistics
Royal Cargo
2Go Logistics
Jentec Cold Storage Inc
LBC Express
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