Saudi Arabia Cold Storage Market is estimated to reach a significant CAGR in 2027 | Size, Trends & Forecast

Saudi Arabia Cold Storage Market

The Saudi Arabia Cold Storage Market is expected to grow at a robust CAGR over the forecast period (2020-2027).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/saudi-arabia-cold-storage-market/

The factors driving growth of the Saudi Arabia Cold Storage Market includes growing consumption of perishable commodities such as fruits and vegetables across Saudi Arabia, rising concerns related to food wastage, increasing Foreign Direct Investments (FDIs) in construction and retail industries and improvements in the living standards. For instance, the revenue generated from the sales of Vegetables in Saudi Arabia is expected to reach USD 7 billion by the end of 2022, expanding at a CAGR of 4.50%, over the forecast period (CAGR 2022-2027), which will accelerate the market growth in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, developments in the logistics infrastructure, rising popularity ready-to-eat food and frozen food products, increasing number of restaurants and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic partnerships between enterprises, rise in the launch of innovative products and growing demand for cold storage facilities for storing dairy, meat & seafood, pharmaceutical products, are further contributing to the market growth.

However, growth of the Saudi Arabia Cold Storage Market is hindered due to inadequate infrastructure for maintaining cold storage.

The prominent players operating in the market are Bureida Trading and Refrigeration, Atlascool, Almunajem Group, Able Logistics Group, CGS, Storkom, DANA Steel Processing Industry, Himmah Logistics Company, Raqtan, and Omega Engineering Company, among others.

Based on Type, the Chiller segment is predicted to grow at a significant CAGR during the forecast period

Cold storage chillers help in storing pharmaceutical and dairy products, is pushing growth of the segment. 

Based on Application, the Dairy segment is projected to grow at a higher CAGR over the forecast period

Growing consumption of dairy products across Saudi Arabia, changes in consumers eating habits, rise in the number of Free Trade Agreements (FTAs) between the government of Saudi Arabia with government of other countries, are pushing growth of the segment.

Based on Storage Type, the Warehousing segment is anticipated to expand at a remarkable CAGR during the forecast period

As per the Saudi Arabia Cold Storage Market Analysis, increasing use of warehouses for storing meat, vegetables and fruits, expansion of the retail sector and rapid urbanization, are propelling segments growth.

Market Segmentation

Segmentation by Type

Freezer
Chiller
Blast Freezer & Chiller

Segmentation by Application

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

Segmentation by Verticals

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

Segmentation by Storage Type

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

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.