South Korea Cold Chain Logistics Market Booming to Reach USD 10 Billion by 2030

Published | 11 November 2024

South Korea Cold Chain Logistics Market is flourishing because of a spurring demand for fresh and processed foods and rapid growth of e-commerce.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated South Korea Cold Chain Logistics Market size at USD 5.30 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects South Korea Cold Chain Logistics Market size to expand at a CAGR of 9.50% reaching a value of USD 9.92 billion by 2030. Major growth factors for South Korea Cold Chain Logistics Market include rising demand for non-durable and perishable items as well as the developing e-commerce industry. The market for cold chain logistics in South Korea is projected to be driven also by an increasing demand for fresh and frozen food items, which has been exacerbated by the expanding female workforce and the growing acceptance of a work-from-home trend.

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Opportunity - Rising Demand for Cold Chain Logistics from BioPharma Industry

The growing demand for temperature-sensitive pharmaceuticals, biologics, and vaccines, due to rising prevalence of chronic diseases and rapidly aging population is propelling the growth of South Korea Cold Chain Logistics Market. Cold chain logistics ensure safe and efficient transportation and storage of various drugs and medical products. Many biologic drugs, such as gene therapies or monoclonal antibodies, require controlled environments with temperatures ranging from 2°C to 8°C. Without efficient cold chain logistics, these drugs and medical products can lose their potency, which may result in shortages of products in hospitals and pharmacies, leading to significant losses to the healthcare sector.

Impact of Escalating Geopolitical Tensions on South Korea Cold Chain Logistics Market

Intensifying geopolitical tensions among countries and spreading across the major regions could impact the growth of South Korea Cold Chain Logistics Market. The global supply chain of South Korea is disrupted by geopolitical tensions between the United States and other major nations, including China and North Korea. It has an adverse effect on the region's freight and aviation routes, which raises transportation prices and causes delays in logistical operations. As a result, the cold chain logistics sector may face significant challenges in meeting their goal of delivering perishable commodities. South Korea's trade ties may also be impacted by trade restrictions like tariffs and sanctions, which might lead to a sharp drop in imports and exports and have a ripple effect on the need for cold chain logistics.

Frozen Segment to Grow at Fastest CAGR in South Korean Market

The frozen segment accounts for the higher share of the market owing to the rising demand for frozen food. South Korean customers' busy lifestyles and the growing number of women in the workforce are driving up demand for frozen foods since they are less expensive and require less preparation time. However, because of the strong demand in the pharmaceutical industry, the chilled segment also accounts for a sizeable portion of the market. A cold environment between +2°C and +8°C is necessary for many pharmaceutical products to avoid deterioration and potency loss, which drives its market growth.

Competitive Landscape

The major industry players of South Korea Cold Chain Logistics Market include Yusen Logistics Co., Ltd., HL Holdings Corp., Rhenus Group, Borim Logistics, Dongwon Group, Leschaco, CJ Logistics, Daewoo Logistics, and Lotte Global Logistics. The presence of high number of players intensify the competition as companies focus on gaining significant market share.

These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in South Korea Cold Chain Logistics Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and South Korea Cold Chain Logistics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in South Korea Cold Chain Logistics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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