GCC Cold Storage Market

GCC Cold Storage Market Overview

Cold Storage refers to a system that is used to store food or any other item and is temperature-controlled. Cold storage prevents these items from decaying or diverting from regulations and laws that apply to that substance. The manufacturer provides these items to a third-party logistics provider (3PL) for cold storage before shipping it to the end-users. It is a prominent part of supply chain management, as it needs high attentiveness in the process of storing and transportation temperature-sensitive items. It is used in several end-use applications such as meat processing, fruits & vegetables, dairy products, pharmaceuticals, and seafood storage.

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Major GCC Cold Storage Market Drivers

The key factors driving the growth of the GCC cold storage market include growing demand for perishable products, packaged food, increasing automation refrigerated warehouses, and fast expansion of the retail and logistics sector. The rise in government initiatives for food preservation due to the growing concerns related to increasing population and food wastage in countries like Saudi Arabia is surging the growth of the GCC cold storage market. The suppliers of temperature-controlled food products are increasingly using third-party logistics to ensure secure transportation of their products. Saudi Vision 2030, a government initiative, which focuses on a nine-point strategy of market liberalization, infrastructure enhancement, privatization, process streamlining, government & regulatory reforms, and new free economic zones to increase nation’s strategic advantage to develop “go-to logistics hub” for the GCC region. This initiative aids the growth of the GCC cold storage market.

Nowadays, rather than going out and shopping, people prefer to buy products from home, even the essential daily use items. This brings in the need for cold storage and refrigerated warehouses for the organized retail sector. The logistics companies are largely opting for improved refrigeration and enhanced storage technologies to provide better service as compared to the traditional storage. This factor plays a significant role in propelling the growth of the cold storage market. On the contrary, lack of sufficient infrastructure and lack of reliable power hook-ups to carry out the process of storage and transportation might hamper the growth of this market.

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Based on the storage type, the market is segmented into refrigerator ships, refrigerated containers, air cargo, warehousing, refrigerated trucks, and other storage type. The warehousing segment is anticipated to witness a faster CAGR over the forecast period. Rapid urbanization has increased the rate of shopping from online platform, which has further grown the necessity of warehouse to store groceries such as fruits, meat, vegetables, among others, to secure it from spoilage for a longer period.

Based on application, the market is segmented into fruits & vegetables, dairy, fish, meat & seafood, processed food, pharmaceuticals, industrial chemicals, and others. The processed food segment is projected to grow at a higher CAGR during the forecast period. This is due to the growing improvements and constant advancement in the packaged food sector. Various principles have been governed to essentially increase refrigerated warehousing to prevent several processed foods from deterioration. These factors are surging the growth of the processed food segment growth.

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Based on the countries, the GCC Cold Storage market is segmented into Saudi Arabia, Oman, Kuwait, and the rest of GCC. Saudi Arabia is expected to dominate the cold storage market owing to its rapid industrialization and growing population. The government has taken various initiatives to prevent the spoilage of several food items while keeping in mind the scarcity of water resources for agricultural practices These regulations are driving the demand for cold storage systems.

Key Developments: 

• • In 2020, Kloosterboer started the construction of Cold Port II, which will be a a new state-of-the-art fully automated high-bay cold-storage facility, with a storage capacity of 60000 pallets.
  • In 2018, Lulu Group International announced to build cold storage for processing food and Lulu Logistics General Trading to build a warehouse for storage of food in ZonesCorp’s Abu Dhabi Food Zone.
  • In 2018, RSA built its new dangerous goods warehouse to expand the portfolio of services for customers across GCC region. This is a chemical warehouse with capacity of 13000 pallets, adding to its current capacity of 1800 TEU tank containers.

The GCC cold storage market has been segmented on the basis of type, storage type, verticals, application, and countries. Based on type, the market is segmented into freezer, chiller, and blast freezer. Based on storage type, the market is segmented into refrigerator ships, refrigerated containers, air cargo, warehousing, refrigerated trucks, and other storage type. Based on verticals, the market is segmented into healthcare & hospitality, government & transportation, retail & logistics, and industry & manufacturing. Based on application, the market is segmented into fruits & vegetables, dairy, fish, meat & seafood, processed food, pharmaceuticals, industrial chemicals, and others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the rest of GCC.

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Market Segmentation:

GCC Cold Storage Market by Type

• • Freezer
  • Chiller
  • Blast Freezer

GCC Cold Storage Market by Storage Type

• • Refrigerator Ships
  • Refrigerated Containers
  • Air Cargo
  • Warehousing
  • Refrigerated Trucks
  • Other Storage Type

GCC Cold Storage Market by Verticals

• • Healthcare & Hospitality
  • Government & Transportation
  • Retail & Logistics
  • Industry & Manufacturing

GCC Cold Storage Market by Application

• • Fruits & Vegetables
  • Dairy
  • Fish
  • Meat & Seafood
  • Processed Food
  • Pharmaceuticals
  • Industrial Chemicals
  • Others

    GCC Cold Storage Market by Countries

• • Saudi Arabia Cold Storage Market All-Up (Option 1: Free 25% Customization)
  • Oman Cold Storage Market All-Up (Option 2: Free 25% Customization)
  • Kuwait Cold Storage Market All-Up (Option 3: Free 25% Customization)
  • UAE Cold Storage Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC Cold Storage Market All-Up (Option 5: Free 25% Customization)