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Qatar Cold Chain Market -- Increase in Demand for Perishable Food Items, Development of Infrastructure, Government's Initiatives to Improve the Logistics Infrastructure in the Country as Part of the 'Qatar National Vision 2030': Ken Research
The Qatar Rail Development Program (QRDP) envisages development of a long distance passenger and freight rail network to connect major centres of population and industries in Qatar and to form part in planned Gulf Cooperation Council (GCC) railway network linking the six countries in GCC (namely, State of Qatar , Kingdom of Saudi Arabia , United Arab Emirates , Kuwait , Kingdom of Bahrain and Sultanate of Oman ). Moreover, the project involves the construction of passenger and freight railway line linking the border with Saudi Arabia to Mesaieed and the New Doha Port project on the east coast of the peninsula as well as an inland station known as Doha West International, which will connect to Doha Metro. The establishment of these trade and passenger routes will facilitate the growth of the exports and imports of temperature sensitive products, thereby increasing the reliance on cold warehousing and transportation in the country.
3PL partnerships and cold storage warehouses requiring clients are availing shorter contract terms. Shortening contract terms is leading to longer contract terms being incentivized. Post-Covid, companies have been hesitant to sign 3-5 years contract commitment. Standard warehouse space and 3PL partnership contract terms are being lowered to 1-2 years to increase the number of customers availing a company's cold storage warehouse facility. JSL is one such company offering short & long term cold warehouse contract facilities.
Analysts at Ken Research in their latest publication believe that the Cold Chain market in Qatar is expected to experience positive growth owing to the increase in demand for perishable food items, development of infrastructure and freight routes and government's initiatives to improve the logistics infrastructure in the country as part of the 'Qatar National Vision 2030'. The market is expected to register a positive CAGR of 6.6% in terms of revenue during the forecasted period 2021P-2026F.
The cold chain market in Malaysia is at the growth stage. There are not many providers that offer cold chain service for the Malaysian market and it is considered a niche market. Malaysia has established itself as the halal industry hub, making it one of the major trading partners of halal meat and other products. In the review period 2016-2021P, the Malaysia cold chain market has increased at a positive CAGR of 6.9% primarily due to substantial government investments in the freight industry and increase in retail and consumer spending especially in meat and seafood, fruits/vegetables market, and the growing pharmaceuticals industry.
The cold chain market in UAE is at growth stage. It has consolidated its position as a global transhipment hub due to its central location in the GCC region. The high dependence of the country on imports to meet its food requirements has necessitated the development of cold chain facilities. In the review period 2015-2020, the UAE cold chain market has increased at a positive CAGR of 5.0% largely due to heavy government and direct foreign investments in transportation and storage infrastructure, increase in retail and consumer spending especially in groceries, dairy, meat, international food and EXPO 2020.
The Filipino E-commerce industry has witnessed a moderate rise over the past 5-6 years with an increase in internet penetration into the country. Escalation in the number of smartphones in the country, fast-growing middle-class population, high consumer confidence, changing consumer preferences, etc. has augmented the growth of e-commerce leading to surging demand for e-commerce logistics as well in the country. Manila and some other cities including Central Quezon City, Cebu, and Davao have emerged as the key hub for demand and supply of e-commerce logistics The COVID-19 pandemic has also pushed the demand in the market as the need for social distancing have forced people to rely on online shopping. The growth in E-commerce orders for logistics has been majorly driven by an increase in internet affinity and demand for value-added services.
The logistics sector in Indonesia is expected to grow in the future with a dip in 2020 due to a lockdown for few months that disrupted the Imports and Export Movements by all Modes which is expected to revive back in 2021. Tech startups are filling the gap and capturing new business opportunities. Several key technologies deployed by logistics startups include radio frequency identification (RFID), GPS, cloud computing, and data analytics. New concepts such as micro-warehousing as done by Credible and cross-border e-commerce fulfillment AllSome are gaining popularity in the Indonesian market. The pharma logistics segment and the e-commerce logistics segment are expected to drive growth in the future, given the expected increase in medical products requirements post COVID-19 and continuous funding in Express companies such as SiCepat Ekspres and Aggregator such as Kargo in Indonesia .
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Ken Research
Ankur Gupta , Head Marketing & Communications
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