South Korea Cold Chain Market Revenue is expected to grow at a forecasted CAGR of 13.6% during the period 2019-2023: Ken Research

• Modern retail businesses, such as hypermarkets, grocery supermarkets, convenience stores and online retailing has rapidly grown over the years driving the demand for cold storage and cold transportation.
• The active participation by the pharmaceutical sector due to the growing middle class and the aging population in the country is expected to augment the cold chain industry in the country.
• The adaption of modern technologies in the refrigerated warehouses, as well as transportation fleets, will augment the growth of the cold chain industry.

Growing Prevalence of Internet Retailing: It is estimated that mobile internet retailing will witness rapid growth in South Korea and will account for ~60% of total internet retailing sales in the coming years. While online retailers have already expanded their channel to mobile, offline players are also actively improving their mobile platforms. Moreover, the increase in a number of single-person households in the country is expected to further push the South Korean retail industry towards growth, which will result in a higher demand for cold chain facilities in the country.

Growth of the Pharmaceutical Sector: The South Korean pharmaceutical industry is a dynamic and growing market and the 10th largest market in the world. The pharmaceutical sector is one of the major end-users of cold chain facilities as these products are generally temperature-sensitive. The anticipated surge in pharmaceutical products due to the growing middle class and aging population in the country is expected to augment the growth of the cold chain industry in the country.

Rising Demand for Bakery and Confectionery Products: Changing food habits and increasing levels of disposable income are triggering the demand for bakery and confectionery products. The bakery market is expected to grow at a rate of 3.3% whereas the confectionery market is bound to grow at a rate of 2.1% over the period 2019-2023. Shippers are collaborating with third-party logistics companies to cater to this rising demand and to ensure that products are delivered in optimal conditions in the specified timelines.

Analysts at Ken Research in their latest publication “South Korea Cold Chain Market Outlook to 2023 – By Cold Storage (Ambient, Chilled and Frozen Warehousing) and Cold Transport (Land, Sea, and Air), By Application (Dairy Products, Fruits and Vegetables, Meat and Seafood, Pharmaceuticals and Others) and By Ownership (Integrated and Third Party Logistics)” believe that the cold chain market in South Korea will increase owing to the growth in international trade of perishable foods, technological advancements in refrigerated storage & transport, government support for infrastructure development of the cold chain industry and increasing need for medicines owing to the aging population of South Korea. The market is expected to register a positive CAGR of 13.6% in terms of revenue during the forecasted period 2018-2023E.

For More Information On Market Research Report, Please Refer To The Link Below:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/south-korea-cold-chain-market-outlook/279683-100.html

Key Segments Covered:-
By Type of Market
Cold Storage

By Temperature
Frozen
Chilled
Ambient

By Region
North
Central
South
Cold Transport

By Mode of Transport
Land
Sea
Air

By Location
Domestic
International

By Mode of Land Transport
40 Footer reefers
20 Footer reefers
Others (6, 8, 10 wheelers and more)

By Vicinity
Inter-city
Intra-city

By End-User Application
Meat and Seafood
Fruits and Vegetables
Pharmaceuticals/Healthcare
Dairy Products
Bakery and Confectionary
Others

By Ownership
Owned/Integrated
Third-Party Logistics (3PL)

Key Target Audience
Cold Chain Companies
Logistics Companies
Private Equity Investors
Government Associations
Construction Companies
Dairy Companies
Meat and Seafood Companies
Fruits and Vegetable Companies
Pharmaceutical Companies
Ice-Cream Companies

Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2023E

Companies Covered:-
Lotte Logistics
CJ Logistics
Dongwon Industrial
Borim Logistics
Dongbu Express
Hansol Logistics
DB Schenker
Daelim Corporation
GS Global
DHL
Ottogi Logistics Service Co., Ltd.
Pantos Logistics

Key Topics Covered in the Report:-
South Korea Cold Chain Market Overview and Genesis
Stakeholders in South Korea Cold Chain Market
Value Chain Analysis of South Korea Cold Chain Market
Infrastructural Analysis of South Korea
Regional Analysis of Major Cities in South Korea (Seoul and Busan)
Comparative Analysis of South Korea Cold Chain Market with other countries
South Korea Cold Chain Market Size, 2013-2018
South Korea Cold Chain Market Segmentation, 2013-2018
South Korea Cold Chain Market Future Outlook and Projections, 2019E-2023E
South Korea Cold Storage Market, 2013-2018
South Korea Cold Storage Market Segmentation, 2013-2018
South Korea Cold Storage Market Future Outlook and Projections, 2019E-2023E
South Korea Cold Transport Market Size, 2013-2018
South Korea Cold Transport Market Segmentation, 2013-2018
South Korea Cold Transport Market Future Outlook and Projections, 2019E-2023E
End-User Potential in South Korea Cold Chain Market
Competitive Advantage for Setting up Cold Chain Facilities in South Korea
Government Regulations in South Korea Cold Chain Market
Growth Drivers and Trends in South Korea Cold Chain Market
Issues and Challenges in South Korea Cold Chain Market
Decision Making Process for Clients in South Korea Cold Chain Market
SWOT Analysis of South Korea Cold Chain Market
Competitive Landscape in South Korea Cold Chain Market
Analyst Recommendations for South Korea Cold Chain Market

Related Reports by Ken Research:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/philippines-cold-chain-market/186336-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/indonesia-cold-chain-market/172009-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/thailand-cold-chain-market/154987-100.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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