Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Colombia Cold Chain Logistics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The Colombia Cold Chain Logistics Market size is expected to grow from USD 200.54 million in 2023 to USD 352.68 million by 2028, at a CAGR of 11.95% during the forecast period (2023-2028).
Key Highlights
The market is driven by trade growth in perishable products and the government's favorable support for developing cold chain infrastructure. Colombia's logistics industry has recently improved, ranking 5th in Latin America and the Caribbean.
The government is working hard to improve the decentralized logistics infrastructure. Factors such as the increase in cold storage, the growth of the processed food sector, and the pharmaceutical industry are expected to drive the development of the cold chain logistics market in Columbia.
The pandemic positively impacted the cold chain industry and increased demand for cold chain warehousing. Cold chain service providers adopted pioneering technologies to meet the growing demand for food safety (mainly processed foods). The COVID-19 outbreak led to a shift in an organized retail market to prevent further virus outbreaks.
These developments underscored the need for the food value chain to shift from an open market to a cold chain model to keep perishable items longer. These factors were expected to drive demand for the cold chain during the forecast period.
Colombia Cold Chain Logistics Market Trends
Rising Consumer Demand For Perishable Goods
Consumers are now more aware of health and wellness and the effect that food nutrients, especially protein, have on overall physical and mental growth and development.
This has resulted in a change in the consumption pattern of perishable foods, such as dairy products, fruits and vegetables, and high-protein animal-based products (such as meat, eggs, fish, and seafood). Emerging economies in Asia Pacific and Latin America are witnessing a high demand for perishable food products. This can be attributed to rapid urbanization, changing tastes and preferences, and the rising disposable income of consumers in these countries.
The market potential for processed and frozen food products is also high in among emerging countries such as Colombia due to their lower adoption rates. The consumption of ready-to-eat meals, such as frozen pizzas, desserts, and snacks, is rising steadily in the LATAM countries.
Increasing Demand for Dairy Products and Frozen food is driving the Market Growth
Colombian dairy imports are mostly cream, whey protein, milk powder, and other product ingredients, such as casein. Domestic consumption of dairy products has increased due to promotional efforts that appeal to changes in consumption patterns because of urbanization and income shifts.
Consumers prefer fresh cheese, which is available in modern retail and mostly in wet markets and mom & pop stores due to its artisanal production. Even though hard cheese is seen as expensive and with a strong flavor, retailers like PriceSmart, D1 and Jumbo introduce different cheese varieties, which are key for educating consumers about this product. Colombian milk production reached 7,821 million liters (2,066 million gallons) in 2021.
The dairy manufacturing sector in Colombia includes domestic and multinational companies, such as Nestle, Parmalat, and Danone, and domestic brands, including Colanta, Alpina, and Alqueria.
The Other Dairy Product, Bread consumption per capita is still low at 22 kilograms (48 pounds) compared to other Latin American countries, such as Chile (98 kilograms/216 pounds), Argentina (82 kilograms/180 pounds), and Uruguay (55 kilograms/121 pounds).
Colombia Cold Chain Logistics Industry Overview
The Colombian cold chain logistics market is expected to be fragmented due to the presence of local and international players. The market sees increasingly fierce competition in the field of e-commerce logistics.
The growth in agricultural product exports in the global and domestic markets is expected to attract many international players in the warehousing and storage fields. The major players in the market include Megafin Logistica Para Alimentos, Frigometro, Apix Logistica Especializada SAS, and Transportes Iceberg De Colombia.
A selection of companies mentioned in this report includes
- Megafin Logistica Para Alimentos
- Frigometro
- Apix Logistica Especializada SAS
- Transportes Iceberg De Colombia
- Sefarcol SA
- Rentafrio
- Ransa Colombia Colfrigos
- Frimac
- Sabanagro Ltda
- Transportes Camfri SA
For more information about this report visit https://www.researchandmarkets.com/r/1spej3
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