ASEAN Cold Chain Logistics Market Size

ASEAN Cold Chain Logistics Market Analysis

The ASEAN Cold Chain Logistics Market size is estimated at USD 9.18 billion in 2024, and is expected to reach USD 14 billion by 2029, growing at a CAGR of 8.80% during the forecast period (2024-2029).

• The growing urban population and changing consumer perception have boosted refrigerated storage and transport demand. The market for refrigerated/frozen products is rapidly growing in Southeast Asia.
• The distribution of food products is rapidly shifting from traditional markets toward supermarkets and convenience stores. Refrigerated and frozen products are easier to procure, as major distributors offer shipping via insulated trucks.
• The quality of local cold-chain services varies widely. Food products have been damaged due to the lack of refrigeration. It is estimated that 90% of Southeast Asia's food waste is created during transport.
• Indian cold chain business is still in its early stages, it is one of the most promising industries in the cold chain warehousing and logistics industry.
• By 2027, India will have the world's fifth-largest economy. Investment in India's supply chain infrastructure is likely to increase year on year since it is a well-established, important player in the global market.
• Fortunately, the Indian government is a driving factor in the development of the cold chain industry, encouraging private participation through a variety of subsidy programs and incentives. The Ministry of Food Processing Industries (MoFPI) has initiated a cold chain, value addition, and preservation infrastructure program.
• Rising income levels in ASEAN countries and lifestyle changes are key factors for the growth of meat consumption and production in these regions. Indonesia and Vietnam are mainly driving the growth.