GCC Cold Storage Market – Opportunities & Forecast, 2020-2027

 

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including type, storage type, verticals, application, and countries.

GCC Cold Storage Market drivers:

The GCC cold storage market is witnessing an upsurge in demand during the forecast period. This is mainly due to the rising demand for perishable products, growing automation of refrigerated warehouses, packaged food, and fast expansion of the retail and logistics sector. The increasing government initiatives for food preservation due to the rising concerns regarding the growing population and food wastage in countries like Saudi Arabia bolstered the growth of the GCC cold storage market. The suppliers of temperature-controlled food products are rapidly using third-party logistics to ensure the secure transportation of their products. Saudi Vision 2030, a government initiative, which emphasizes on a nine-point strategy of market liberalization, government & regulatory reforms, infrastructure enhancement, process streamlining, privatization, and new free economic zones to raise the nation’s strategic advantage to develop a “go-to logistics hub” for the GCC region. This initiative supports the growth of the GCC cold storage market.

Instead of going out and shopping, people prefer to buy products from home, even the basic daily use items. This brings in the requirement for cold storage and refrigerated warehouses for the organized retail sector. The logistics companies are widely opting for enhanced refrigeration and improved storage technologies to offer better service as compared to traditional storage. This factor plays an important role in accelerating the growth of the cold storage market. On the other hand, the lack of sufficient infrastructure and limited reliable power hook-ups to carry out the process of storage and transportation will hinder the growth of the market.

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GCC Cold Storage Market Segmentation:

According to the report published by GMI Research, titled “GCC Cold Storage Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Type:

·         Freezer

·         Chiller

·         Blast Freezer

By Storage Type:

·         Refrigerator Ships

·         Refrigerated Containers

·         Air Cargo

·         Warehousing

·         Refrigerated Trucks

·         Other Storage Type

By Verticals:

·         Healthcare & Hospitality

·         Government & Transportation

·         Retail & Logistics

·         Industry & Manufacturing

By Application:

·         Fruits & Vegetables

·         Dairy

·         Fish

·         Meat & Seafood

·         Processed Food

·         Pharmaceuticals

·         Industrial Chemicals

·         Others

By Countries:

·         Saudi Arabia

·         Oman

·         Kuwait

·         UAE

·         Rest of GCC

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