Report Overview

Singapore Cold Chain Logistics Market – Industry Trends & Forecast Report, 2030

Singapore Cold Chain Logistics Market size by value was estimated at USD 4.27 billion in 2023. During the forecast period between 2024 and 2030, the Singapore Cold Chain Logistics Market size is expected to expand at a CAGR of 6.67% reaching a value of USD 5.69 billion by 2030. The driving factors of the Singapore Cold Chain Logistics Market include the country's strategic geographic location, serving as a regional hub for distribution, an increasing demand for perishable goods like food & beverages and pharmaceuticals due to population growth and rising income levels, stringent regulations ensuring quality control and safety standards, adoption of advanced technologies for temperature-controlled transportation and storage, and the expansion of the healthcare and food industries. Additionally, the emphasis on sustainability and environmental concerns is pushing companies towards more efficient and eco-friendly cold chain solutions, further fueling the growth of Singapore Cold Chain Logistics Market.

Cold Chain Logistics – Overview

Cold chain logistics refers to the management of temperature-sensitive products, ensuring their integrity throughout the supply chain, from production to consumption. It involves specialized storage, transportation, and monitoring processes to maintain specific temperature conditions, typically between 2°C and 8°C for perishable goods like pharmaceuticals, food, and vaccines. Effective cold chain logistics relies on refrigeration technology, efficient packaging, and rigorous quality control measures to prevent spoilage, contamination, or degradation of products. Cold chain logistics is crucial for industries, such as pharmaceuticals, healthcare, and food where maintaining product quality and safety is paramount, ensuring consumer health and satisfaction.

Singapore Cold Chain Logistics Market

Growth Drivers

Increasing Number of Refrigerated Warehouses

A surge in the number of refrigerated warehouses is a pivotal growth driver for Singapore Cold Chain Logistics Market. With rising demand for perishable goods, including pharmaceuticals and fresh produce, the need for temperature-controlled storage facilities has intensified. The expansion of these warehouses enhances the efficiency and reliability of the cold chain infrastructure, ensuring the preservation of goods' quality throughout the supply chain. Moreover, Singapore's strategic geographical location as a regional distribution hub amplifies the significance of these facilities, attracting investments and fostering the country's position in the global cold chain logistics landscape.

Challenges

Spoilage and Wastage

Effective temperature monitoring systems must be implemented throughout the Singapore cold chain logistics network to mitigate spoilage and waste. This includes real-time tracking of temperature fluctuations at every stage of the supply chain, from storage facilities to vehicles. Additionally, stringent adherence to proper handling protocols and timely disposal of expired or damaged goods are imperative. Investing in advanced technologies such as IoT sensors and data analytics can enhance traceability and enable proactive measures to prevent spoilage, ultimately optimizing efficiency and reducing waste in the Singapore cold chain logistics market.

Impact of Escalating Geopolitical Tensions on Singapore Cold Chain Logistics Market

Escalating geopolitical tensions can significantly impact the Singapore Cold Chain Logistics Market. Trade restrictions and sanctions can disrupt the supply chain, leading to shortages of raw materials and components necessary for manufacturing respiratory devices. For instance, the trade war between the US and China resulted in increased tariffs on medical equipment imports, affecting the market. Furthermore, political instability in key manufacturing regions can disrupt production and distribution channels, causing delays and increased costs. Additionally, heightened tensions can lead to reduced healthcare spending as governments prioritize defense and security expenditures over healthcare investments, impacting the adoption and sales of respiratory care devices globally. Overall, geopolitical tensions create uncertainty and volatility, challenging the stability and growth of the respiratory care devices market.

Singapore Cold Chain Logistics Market

Segmental Coverage

Singapore Cold Chain Logistics Market – By Business Type

Based on business type, Singapore Cold Chain Logistics Market is bifurcated into Warehousing and Transportation segments. The transportation segment further divided into Railways, Airways, Roadways, and Waterways segments. The transportation segment holds a higher share in the Singapore Cold Chain Logistics Market. Among the transporation subsegments, the roadways subsegment tends to dominate due to its extensive network and flexibility in reaching various destinations efficiently. With Singapore's well-developed road infrastructure and connectivity, road transport plays a crucial role in the cold chain logistics industry, ensuring the timely and safe delivery of perishable goods across the region. The prominence underscores the significance of road transport in Singapore's cold chain logistics framework, facilitating the smooth flow of goods throughout the supply chain.

Singapore Cold Chain Logistics Market – By End Use Industry

Based on end use industry, Singapore Cold Chain Logistics Market is divided into Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Drugs & Pharmaceuticals, and Meat, Fish, and Sea Food segments. The meat, fish, and sea food segment is the largest end use industry segment in the Singapore Cold Chain Logistics Market, given the country's significant consumption of meat, fish, and sea food products. Singapore's diverse culinary culture and high demand for fresh and quality meat and sea food contribute to the prominence of the segment. With strict regulations ensuring food safety standards, including the import of meat products, an efficient cold chain logistics network becomes imperative. The meat, fish and sea food segment encompasses various products such as beef, pork, poultry, fish, and sea food catering to both local consumption and international trade, thereby making it a substantial component of Singapore's cold chain logistics industry.

Competitive Landscape

Major players in the Singapore Cold Chain Logistics Market include DB Schenker Logistics Company, DHL Logistics, DTDC ECommerce, MNX Global Logistics, Pan Ocean, Volvo Group, and Yusen Logistics Service. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In November 2023: The YCH Group disclosed strategic alliances with Shanghai Shine-link International Logistics and New Land-Sea Corridor Operation Co., Ltd, providing advantages for Chinese companies seeking expansion into the ASEAN market.

• In September 2023: Expanding beyond its existing terminal business, DP World aimed to enhance its logistical and supply chain expertise in Southeast Asia.

Scope of the Report

By Business Type

• Warehousing

• Transportation

• Railways

• Airways

• Roadways

• Waterways

By End Use Industry

• Fruits & Vegetables

• Bakery & Confectionary

• Dairy & Frozen Desserts

• Drugs & Pharmaceuticals

• Meat, Fish & Sea Food

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Singapore Cold Chain Logistics Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increase in refrigerated warehouses
         2. Growth in processed food sector
         3. Growth of organized retail
         4. Expanding E-commerce market
      2. Restraints
         1. High operational Cost
         2. Spoilage and waste
      3. Opportunities
         1. Adoption of automated software for cold chain logistics
         2. Growing pharmaceutical and biotech industries
      4. Challenges
         1. Lack of standardization
         2. Skilled labor shortage
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Singapore Cold Chain Logistics Market: Pricing Analysis
5. Singapore Cold Chain Logistics Market: Marketing Channels
6. Singapore Cold Chain Logistics Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Business Type
         1. Warehousing
         2. Transportation
            1. Railways
            2. Airways
            3. Roadways
            4. Waterways
      2. By End Use Industry
         1. Fruits & Vegetables
         2. Bakery & Confectionary
         3. Dairy & Frozen Desserts
         4. Drugs & Pharmaceuticals
         5. Meat, Fish, and Sea Food
         6. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Singapore Cold Chain Logistics Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Singapore Cold Chain Logistics Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. DB Schenker Logistics Company
   2. DHL Logistics
   3. DTDC ECommerce
   4. MNX Global Logistics
   5. Pan Ocean
   6. Volvo Group
   7. Yusen Logistics Service
   8. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.   Quantitative Research
    3.   Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5.   Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Singapore Cold Chain Logistics Segmentation

Figure 2       Singapore Cold Chain Logistics Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Singapore Cold Chain Logistics Market Size, By Value (USD Billion), 2019–2030

Figure 5       Singapore Cold Chain Logistics Market Share, By Business Type, By Value, 2019–2030

Figure 6       Singapore Cold Chain Logistics Market Share, By End Use Industry, By Value, 2019–2030

List of Tables

Table 1        Singapore Cold Chain Logistics Market Size, By Value (USD Billion), 2019–2030

Table 2        Singapore Cold Chain Logistics Market Size, By Business Type, By Value, 2019–2030

Table 3        Singapore Cold Chain Logistics Market Size, By End Use Industry, By Value, 2019–2030

Table 4        DB Schenker Logistics Company: Company Overview

Table 5        DB Schenker Logistics Company Financial Overview

Table 6        DHL Logistics Company Overview

Table 7        DHL Logistics Financial Overview

Table 8        DTDC ECommerce Company Overview

Table 9        DTDC ECommerce Financial Overview

Table 10      MNX Global Logistics Company Overview

Table 11      MNX Global Logistics Financial Overview

Table 12      Pan Ocean Company Overview

Table 13      Pan Ocean Financial Overview

Table 14      Volvo Group Company Overview

Table 15      Volvo Group Financial Overview

Table 16      Yusen Logistics Service Company Overview

Table 17      Yusen Logistics Service Financial Overview