Vietnam Cold Chain Logistic Market Size Set to Expand at Significant CAGR of 12.24% During 2023–2029

Published | 16 May 2023

Vietnam cold chain logistic market is rapidly growing due to deepening penetration of connected devices, automation of refrigerated warehouses, an increase in the number of organized retail locations, trade liberalization, government measures to prevent food waste, and retail chain expansion.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the Vietnam cold chain logistic market size to grow at a CAGR of 12.24% by 2029. The Vietnam cold chain logistics market is expanding due to factors such as rising demand for fresh and frozen foods and beverages, as well as rising demand for pharmaceuticals, vaccines, and healthcare products that require temperature-controlled transportation and storage. Also, the expansion of e-commerce and online grocery delivery services is driving up demand for cold chain logistics. The implementation of cold chain logistics is being driven by government initiatives to increase food safety and hygiene requirements. Technology advancements in refrigeration, tracking, and monitoring systems are making cold-chain logistics operations more efficient and dependable.

Vietnam Cold Chain Logistic Market – Overview

The handling of temperature-sensitive products, such as perishable foods, medications, and vaccines, along the supply chain is referred to as cold chain logistics. It entails the use of temperature-controlled facilities, equipment, and transportation to ensure the integrity and safety of the product from the point of origin to the point of consumption. The cold chain begins with the manufacturer or producer and continues through storage, transit, and distribution until it reaches its final destination. Throughout the cold chain, the temperature is carefully monitored and maintained at a specific level, and any deviations can result in product degradation, spoilage, or even harm to consumers. Product quality, safety, and efficacy are all dependent on effective cold-chain logistics.

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Impact of COVID-19 on Vietnam Cold Chain Logistic Market

The COVID-19 pandemic significantly impacted the Vietnam cold chain logistics market. With the surge in demand for healthcare products, including vaccines and medical supplies, the need for temperature-controlled storage and transportation has increased. The pandemic also highlighted the importance of maintaining a robust and efficient cold chain system to ensure the safety and efficacy of vaccines and other temperature-sensitive products. Thus, the Vietnam government took steps to invest in the country's cold chain infrastructure, including building new facilities and upgrading existing ones. Despite the challenges posed by the pandemic, the Vietnam cold chain logistics market is expected to continue to grow during the forecast period.

Vietnam Cold Chain Logistic Market – By Type

On the basis of type, Vietnam cold chain logistic market is divided into Warehousing and Transportation segments. The transportation segment is further classified into Railways, Airways, Roadways, and Waterways. The transportation segment is a higher contributor to the growth of Vietnam cold chain logistics market. It involves the movement of temperature-sensitive goods from one place to another, such as from warehouses to retail outlets or directly to consumers. The segment is essential for maintaining the quality and safety of perishable goods during transportation, including food, pharmaceuticals, and other sensitive products. The Vietnam cold chain logistics market also includes other segments such as warehousing, but transportation remains the most significant segment due to its critical role in ensuring the efficiency and effectiveness of the entire cold chain logistics system.

Competitive Landscape

Vietnam cold chain logistic market is significantly competitive. Major companies in the market include Americold Logisticss LLC, Burris Logisticss, Cold Box, Conestoga Cold Storage, Congebec, Lineage Logisticss Holdings LLC, Nichirei Corporation, and Tippmann Group. Companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Vietnam cold chain logistic market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Cold Chain Logistic Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Cold Chain Logistic 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.

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