Colombia Cold Chain Logistics Market Size

Colombia Cold Chain Logistics Market Analysis

The Colombia Cold Chain Logistics Market size is estimated at USD 224.5 million in 2024, and is expected to reach USD 394.83 million by 2029, growing at a CAGR of 11.95% during the forecast period (2024-2029).

• The market is driven by trade growth in perishable products and the government's favorable support for developing cold chain infrastructure. Colombia's logistics industry has recently improved, ranking 5th in Latin America and the Caribbean. The government is working hard to improve the decentralized logistics infrastructure. Factors such as the increase in cold storage, the growth of the processed food sector, and the pharmaceutical industry are expected to drive the development of the cold chain logistics market in Columbia.
• The pandemic positively impacted the cold chain industry and increased demand for cold chain warehousing. Cold chain service providers adopted pioneering technologies to meet the growing demand for food safety (mainly processed foods). The COVID-19 outbreak led to a shift in an organized retail market to prevent further virus outbreaks. These developments underscored the need for the food value chain to shift from an open market to a cold chain model to keep perishable items longer. These factors were expected to drive demand for the cold chain during the forecast period.
• The pharmaceutical industry has widely accepted the potential benefits of cryogenic cold chain utilities in storing vaccines, blood samples, and other cell testers, with massive demand for the cold chain market. Moreover, the need for cold storage in online grocery stores has increased. The growth in online grocery sales in the market is expected to increase the demand for cold storage space in the next five years.