Singapore Cold Chain Market Outlook to 2026F Driven By Rising Meat and Seafood Consumption Coupled With Demand for Temperature Sensitive Health Care Products

Singapore Cold Chain Market Outlook to 2026F Driven By Rising Meat and Seafood Consumption Coupled With Demand for Temperature Sensitive Health Care Products

The report provides a comprehensive analysis of the potential of the Cold Chain industry in Singapore. The report covers an overview and genesis of the industry, and market size in terms of revenue generated.

Its market segmentations include segmentation by Cold Transport and Cold Storage, By End User (Meat and Seafood, Dairy Products, Vaccination and Pharmaceuticals, Processed Frozen Foods, Fruits, and Vegetables) and by Ownership (3PL Cold Chain Facilities and Owned Facilities). The cold storage market is segmented by Temperature Range, Automation, End User, and demand from major cities and by major companies (market share of major players). The cold transport market is divided by Truck Type, Mode of Transportation, Location and Vicinity, End User; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Singapore Cold Chain Market – which grew from approximately SGD ~10.0 Bn in 2016 to approximately SGD ~14.0 Bn in 2021 – is forecasted to grow further into SGD ~19.0 Bn opportunity by 2026F, owing to the rising household expenditure on food products and investments in the health care sector.

Singapore’s Cold Chain Market has grown at a CAGR of 6.2% from 2016-2021 driven primarily by demands from the advanced and significant food service and healthcare industry.

Singapore Cold Storage Market has grown at a CAGR of 7.5% from 2016-2021 driven primarily by the high investment made in the form of new infrastructure, and increasing pallet capacities.

Singapore’s Cold Transport Market has grown at a CAGR of 3.6% from 2016-2021 driven by the increasing requirement for vaccine transportation and rising demand for processed foods in Singapore.

Key Trends by Market Segment:

Cold Chain Market

By End User: Blast freezing is necessary to guarantee the highest level of safety and quality for fruits, vegetables, processed frozen goods, and meat and seafood. Less than 1% of Singapore's total land area is used for the production of fruits and vegetables in 2021 because agriculture is not a significant part of Singapore's economy.

Cold Storage market

By Major Cities: Singapore is a developed nation that has adequate infrastructural facilities in all the major cities. During Covid-19, Singapore’s Airport Terminal Services acted as a ground handler with 18 cold storage rooms.

Future Outlook

The Singapore Cold Chain Market witnessed significant growth during the period 2016-2021, owing to the Growing Demand for Processed Foods coupled with the opportunities in vaccine transport.

The growth rate of the total Cold Chain Market is going to increase over the period as there will be the adoption of new and advanced technologies like WMS, automation, and IoT in the Cold chain market in Singapore.

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