News
It is projected the cold chain market in Vietnam will continue to grow at an annual average rate of 10.4% from 2016 to 2021 to be valued at US$1.8 billion (approximately \20.14 billion), according to a report recently unveiled by Ken Research, an India-based research company. The report indicated that an increase in the number of supermakets, an expansion in demand for frozen and refrigerated foodstuffs, a steep rise in manufacturers and other factors are underpinning the market.
In Vietnam, there are 20 cold-chain specialists and many small and midsize enterprises. In recent years, cold-storage and refrigerated warehousing service providers have been increasing to meet the growth in demand for perishable food and improve quality.
It is expected that 1,200 to 1,300 supermarkets, 180 shopping malls and 157 department stores will go into operation by 2020. It is envisaged, as such, that to meet subsequent demand hikes, warehouses and distribution centers handling frozen and refrigerated food products will also increase.
However, investments by local and overseas companies in new cold-storage and refrigerated warehouses are being accelerated so much that competition is also being intensified.
