South Korea Cold Chain Industry is Driven by Increasing Import of Fruits and Vegetables along with Higher Ambient Warehousing Demand for Vaccines and Blood Products: Ken Research

“Increasing consumption of meat and seafood in the country coupled with rising consumer retail spending and growth of international trade of perishable foods has driven the cold chain market in South Korea”

The report titled South Korea Cold Chain Market Outlook to 2023 – By Cold Storage (Ambient, Chilled and Frozen Warehousing) and Cold Transport (Land, Sea, and Air), By Application (Dairy Products, Fruits and Vegetables, Meat and Seafood, Pharmaceuticals and Others) and By Ownership (Integrated and Third-Party Logistics) believe that the cold chain market in South Korea will witness a positive CAGR of 13.6% in terms of revenue during the forecasted period 2018-2023E, owing to growth in international trade of perishable foods, technological advancements in refrigerated storage & transport, government support for infrastructure development of the cold chain industry and increasing need for medicines owing to the aging population of South Korea.

Increasing Demand for Temperature-Sensitive Products: The increase in demand for perishable food products and rising imports of food items such as meat and seafood, fruits and vegetables due to the rising disposable income and retail spending of the people in the country will necessitate the requirement of cold transport facilities in order to transport goods to the storage warehouses and then finally to the end-users, thus augmenting the growth of cold transport industry in the country.South Korea Cold Chain Market Outlook

Increasing Number of Organized Retail Stores: Modern retail businesses, such as hypermarkets, grocery supermarkets, convenience stores, and online retailing is consistently growing from the past few years and witnessed a 7.5% annual growth between 2015-2018. Hypermarket chains have been the largest shopping channels, since they provide competitive prices on foods and household products, while also offering private label products. Currently, E-mart, Homeplus, Lotte Mart and Costco Wholesale Korea Ltd are South Korea’s leading hypermarket chains. As the number of women in workplaces is increasing, the demand for processed and frozen foods has also risen, which has positively impacted the cold chain market of South Korea.

Rise of E-Commerce: South Korea E-commerce market increased its revenue by 3.9% in 2018 and it was witnessed that food products were the second most purchased item online, solely comprising 15.2% of the total market revenue. As diverse food products are being purchased online in high numbers and frequency, companies feel a much higher need for systematic cold chain logistics operation to serve the customers with the right quality. Moreover, with the increase in the number of single-person households from 3.3 million in 2017 to 5.6 million in 2018; the fresh food e-commerce market has witnessed a strong growth which has impacted positively on the cold chain market in the country.

Key Segments Covered:-

By Type of Market

Cold Storage

By Temperature

Frozen

Chilled

Ambient

By Region

North

Central

South

Cold Transport

By Mode of Transport

Land

Sea

Air

By Location

Domestic

International

By Mode of Land Transport

40 Footer reefers

20 Footer reefers

Others (6, 8, 10 wheelers and more)

By Vicinity

Inter-city

Intra-city

By End-User Application

Meat and Seafood

Fruits and Vegetables

Pharmaceuticals/Healthcare

Dairy Products

Bakery and Confectionary

Others

By Ownership

Owned/Integrated

Third-Party Logistics (3PL)

Key Target Audience

Cold Chain Companies

Logistics Companies

Private Equity Investors

Government Associations

Construction Companies

Dairy Companies

Meat and Seafood Companies

Fruits and Vegetable Companies

Pharmaceutical Companies

Ice-Cream Companies

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2023E

Companies Covered:-

Lotte Logistics

CJ Logistics

Dongwon Industrial

Borim Logistics

Dongbu Express

Hansol Logistics

DB Schenker

Daelim Corporation

GS Global

DHL

Ottogi Logistics Service Co., Ltd.

Pantos Logistics

Key Topics Covered in the Report:-

Cold Chain Businesses South Korea

South Korea Refrigerated Truck Market

South Korea Reefer Truck Market Size

South Korea Food and Drink Storage Industry

South Korea Lotte Logistics Market Revenue

South Korea CJ Logistics Market Analysis

Cold Storage Seoul Market Growth

South Korea DHL Logistics Competitors

Number of warehouses in South Korea

Dairy Industry Market Size in South Korea in KRW Billion

South Korea Processed Meat and Seafood Market

Confectionery Market Size in South Korea

For More Information, Refer To Below Link:-

South Korea Cold Chain Market

Related Reports by Ken Research:-

Philippines Cold Chain Market Outlook To 2023 – By Service Mix (Cold Storage Market And Cold Transportation)

Indonesia Cold Chain (Cold Transport And Storage) Market Outlook To 2021 – By End Users (Meat And Seafood, Vaccines And Other Pharma Products, Bakery And Confectionary, Fruits And Vegetables And Others)

Thailand Cold Chain Market Forecast To 2022 – By Type (Cold Storage And Cold Transport), By 3PL, By Temperature Range, By Region, By International And Domestic Cold Transport And By Modes Of Transport (Ground, Air, And Sea)

Contact Us:-

Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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