Singapore Cold Chain Market — Growth, Trends and Forecasts | Ken Research

Singapore’s Cold Chain Market is in the growing stage, being driven by the change in lifestyle leading to increasing demand for meat products and health care products storage requirements. Major entities in the market are cold storage and cold transport companies that are offering a variety of warehousing and transport services.

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Key Market Findings:

Singapore has focused on the establishment and maintenance of roads and the construction of facilities that lead to the development of the country. Singapore is the first country to have approved the commercial sale of cultivated meat in 2020 and is made available to consumers through home delivery. E-commerce and direct consumer deliveries of temperature-sensitive products will find excellent opportunities in the cold transport market.

Growing demand for temperature-controlled products: The Cold Chain Market in Singapore is anticipated to expand between 2021 and 2026F. The grounds for its constant growth are the well-established infrastructure, a positive business climate, and a high per capita income. After the pandemic, the demand for healthcare products such as vaccinations, biopharmaceuticals, and clinical trial supplies is anticipated to persist. In Singapore, meat and seafood consumption is up in 2021. The country's growing need for items with controlled temperatures as well as government initiatives and programs are expected to drive the market for cold-storage equipment.

Introduction of Centralized data platform and developments in supply chain operations: Singapore Trade Data Exchange (SGTraDex) is a common data platform introduced in 2020 to streamline information flows across a fragmented global supply chain. SGTraDex facilitates information exchange between proponents across the supply chain ecosystem in Singapore, providing "trusted, secure, and inclusive" access. PSA Singapore has opened a new Tuas Port to provide a well-linked supply chain and logistics ecosystem along the western seaboard of the country. The next Generation Port 2030 initiative focuses on making the Singapore port the largest integrated facility in the world.

Thermal Storage Technology and Technological Upgradations: Cold chain operators meet the energy-intensive demands of their products while minimizing pressure on natural resources. Players offer 100% fuel-free and environmentally friendly heat storage technology. Investing in technology is becoming essential to stay ahead of the market and serve consumers most effectively. IoT-enabled temperature monitoring helped him keep an eye on his goods 24/7, and recording temperatures has become much easier than the previous manual method.

Analysts at Ken Research in their latest publication “Singapore Cold Chain Market Outlook to 2026F: Driven By Rising Meat And Seafood Consumption Coupled With Demand For Temperature Sensitive Health Care Products” observed that the Cold Chain market is an emergent market in Singapore at a rebounding stage from the economic crisis after the pandemic. The rising demand for temperature-sensitive healthcare products during the pandemic, increasing infrastructural investments in the city along with government initiatives are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 6.6% CAGR during 2021-2026F owing to the growing demand for processed foods coupled with the opportunities in vaccine transport.

Key Segments Covered

Singapore Cold Chain Market

By Type:Cold TransportCold StorageBy End User:Meat and SeafoodDairy ProductsVaccination and PharmaceuticalsProcessed Frozen FoodsFruits, and VegetablesBy Ownership3PL Cold Chain FacilitiesOwned

Singapore Cold Transport Market

By Truck Type Reefer Vans/Trucks (1 to 10 Tons)20 foot reefers (10 - 20 Tons)40 foot reefers and others (more than 20 tons)

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By Mode of Transportation LandSeaAirBy Location DomesticInternationalBy Vicinity Inter-cityIntra-cityBy End UserMeat and SeafoodDairy ProductsVaccination and PharmaceuticalsProcessed Frozen FoodsFruits, and Vegetables

Singapore Cold Warehouses Market

By Temperature RangeFrozenChilledAmbientBy AutomationAutomated Pallets (Min. of ASRS + RFID + WMS)Non-automated Pallets (Missing any of the above)By End UserMeat and SeafoodDairy ProductsVaccination and PharmaceuticalsProcessed Frozen FoodsFruits, and VegetablesBy Major CitiesChangi North and South AreaFishery Port RoadPandan and PenjuruOthers

Key Target Audience

Cold Storage CompaniesCold Chain CompaniesCold Transport CompaniesCaptive Cold Storage CompaniesCaptive Cold Chain CompaniesLogistics CompaniesNon-captive CompaniesCold Chain AssociationsLogistics AssociationsPrivate Equity FirmsVenture Capitalists

Time Period Captured in the Report:

Historical Period: 2016-2021Base Year: 2021Forecasted Period: 2022-2026F

Companies Covered:

Cold Storage Companies

CWT LogisticsMandai / Lineage LinkSeo Eng JooWLNAStorBestAgilityJurong Cold StoreNCS Cold StoreSharikat Logistics Pte Ltd.Atlas Ice Ptd LtdQAF Fruits Cold StoreCommonwealth Kokubu Logistics Pte LtdKeppel LogisticsITC Cold Chain LogisticsAlliance Cold StoreLogistics Solution HubOthers

 Cold Transport companies

DB Schenker Logistics CompanyDHL LogisticsDTDC ECommerceYusen Logistics ServiceMNX Global LogisticsVolvo GroupPan Ocean

Key Topics Covered in the Report

Overview and Genesis of the Singapore Cold Chain MarketSingapore Cold Chain Industry EcosystemMarket Size of Singapore Cold Chain Market by Revenue, 2016 to 2021Singapore Cold Chain Market Segmentation (by Type, by End User, by Ownership), 2016- 2021Market Size of Singapore Cold Storage Market By Revenue, 2016 to 2021Singapore Cold Storage Market Segmentation (by Temperature Range, by Automation, by End User, by Major Cities), 2021Market Size of Singapore Cold Transport Market By Revenue, 2016 to 2021Singapore Cold Transport Market Segmentation (by Truck Type, by Mode of Transportation, by Location and Vicinity, by End User), 2021Trends and Developments in Singapore Cold Chain MarketTechnological Integration in Singapore Cold Chain MarketIssues and Challenges in Singapore Cold chain MarketRegulatory Landscape of Singapore Cold Chain MarketRegulation of Singapore Cold Chain through SS 668Recent Trends in the Portugal Cold Chain MarketConsumer and End User Analysis of Singapore Cold Chain MarketCompetitive Analysis of Singapore Cold Chain MarketFuture Outlook of Singapore Cold Chain Industry, Cold Storage Market, cold Transport Market, 2021-2026FMarket Opportunities and Analyst Recommendation

For more insights on the market intelligence, refer to the link below:

Singapore Cold Chain Market

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