Thailand Cold Chain Logistics Market Size
| Study Period | 2024-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.12 Billion |
| Market Size (2029) | USD 1.78 Billion |
| CAGR (2024 - 2029) | 8.03 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Cold Chain Logistics Market Analysis
The Thailand Cold Chain Logistics Market size is estimated at USD 1.12 billion in 2024, and is expected to reach USD 1.78 billion by 2029, growing at a CAGR of 8.03% during the forecast period (2024-2029).
- Thailand is a popular destination worldwide, with a growth in processed food exports throughout the projected period. The government of Thailand has made considerable investment in creating a whole supply chain for food logistics to realize its aim of making Thailand the world's kitchen.
- The government's attention is seen in the booming cold storage capacity, which will rise significantly during the forecasted period.
- In 2022, the export value of chicken meat and products from Thailand amounted to approximately 142 billion Thai baht (USD 41.2 Billion). This reflects a significant increase in export value from around 103 billion Thai baht (USD 2.98 Billion) in the previous year.
- In 2022, the export value of fresh, chilled, or frozen duck meat from Thailand amounted to approximately 955 million Thai baht (USD 27.7 Billion). This reflects a significant increase in export value from around 541 million Thai baht (USD 15.7 Billion) in the previous year.
- In 2022, the import value of dairy products (excluding cheese) in Thailand amounted to over 1.4 billion U.S. dollars. The imports of such products grew by 17.5 percent from the previous year, which amounted to around 1.2 billion U.S. dollars.
- With the available resources, pharmaceutical production in Thailand generated more than 72.5 billion Thai baht (USD 21.05 Billion) worth of pharmaceuticals in the country in recent years. In terms of distribution, there were around 14 thousand pharmacies in the country, excluding public hospitals. These pharmacies were one of the main types of distribution channels for pharmaceuticals.
- In May 2023, Thailand exported around 138 metric tons of pharmaceutical solutions, which was the highest export volume among other types of pharmaceutical products. In that year, the production volume of pharmaceutical solutions in the country amounted to around 1.5 thousand tons.
Thailand Cold Chain Logistics Market Trends
Development of the Pharmaceutical Sector
With a market value of around 240 billion Thai baht (USD 6.96 Billion), Thailand is one of the leading pharmaceutical markets in Southeast Asia. Its Universal Health Coverage scheme has made pharmaceuticals more affordable and accessible to the public, contributing to the rising market value of Pharmaceuticals in Thailand.
Thailand's pharmaceutical industry benefits from substantial public and private partnerships. The government has implemented initiatives to promote research and development, encourage investment, and support local pharmaceutical manufacturers.
In 2022, the Thai market for vitamins and nutritional supplements was worth over 70 billion baht (USD 2.03 Billion). The growth of medication franchises and sales locations at shopping malls will put further pressure on drug stores in the upcoming year. Regarding governmental rules, the Board of Investment of Thailand permitted a five-year income tax exemption for investments in the pharmaceutical business.
In 2022, Thailand's market share of generic drugs accounted for 55 percent of the market. That same year, the pharmaceutical market value in the country amounted to around 188 billion Thai baht (USD 5.45 Billion).
Rise in demand for Meat and Dairy
Thailand holds a strong position in the fisheries industry and is a significant producer of poultry, especially chicken. Meat is a substantial part of the Thai diet and is included in many local dishes.
Thailand is among the leading countries with the highest pig stock compared to other countries or regions in the Asia Pacific. In Thailand, poultry, particularly broilers, comprises most livestock. Consequently, most of the nation's meat exports are chicken products, while the pig livestock mainly serves domestic demand.
Swine and poultry livestock are essential contributors to the nation’s food security. With a rising middle class and more and more Western cuisine influence on the Thai urban consumption of milk products, the demand for dairy cow stock in Thailand has been on a steady rise over the last decade.
In 2022, Japan was the leading importer of prepared and preserved chicken exported from Thailand, importing more than 50 billion Thai baht (USD 1.45 Billion) worth of such products. This was followed by the United Kingdom, with around 25.3 billion Thai baht (USD 0.73 Billion) worth of prepared and preserved chicken imports from Thailand.
In 2022, the total revenue of the meat market in Thailand amounted to approximately 6.8 billion U.S. dollars. In 2022, the pig stock in Thailand amounted to about 10.76 million heads. The volume of pig stock in the country has been increasing over the past decade. In 2022, the production volume of chicken eggs in Thailand exceeded 15.3 billion units. This reflects an increase from around 15.15 billion units of eggs produced in the previous year, 2021.
Thailand Cold Chain Logistics Industry Overview
The Thailand cold chain logistics market is highly competitive and fragmented, with the presence of local and international players. These players are adapting to advanced technologies to ensure safety, integrity, and efficiency, but problems such as higher operating costs and infrastructure need to be improved in their growth. Significant players include JWD Logistics, Yokrei Cold Storage, Sinchai Cold Storage, Kainoke Cold Storage, and M-Senko Logistics.
Thailand Cold Chain Logistics Market Leaders
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JWD Logistics
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Yokrei Cold Storage
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Sinchai Cold Storage
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Kainoke Cold Storage
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M-SENKO LOGISTICS
*Disclaimer: Major Players sorted in no particular order
Thailand Cold Chain Logistics Market News
- October 2023: Sumisho Global Logistics (Thailand) (SGLT), a subsidiary of the Sumitomo Corporation Group's Sumisho Global Logistics (SGL), has begun construction of a logistics warehouse (“the warehouse") in Thailand’s Wang Noi District with a targeting May 2024. The warehouse’s structure with high ceilings and sufficient load-bearing capacity will give the facility a storage capacity of over 10,000 pallets using high-rise racks, enabling efficient operations.
- March 2023: Kawasaki Kisen Kaisha’s (K LINE’s) company, K LINE CONTAINER SERVICE, based in Thailand, will launch the operation of a new warehouse in the Bang Na district of Bangkok. The new warehouse is located 30 kilometers from Bangkok’s city center, the largest consumption area in Thailand. K Line said the new facility will handle e-commerce goods, and instead of sending products on a per-pallet or per-case basis, it can now dispatch products on a per-item basis.
Thailand Cold Chain Logistics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Growth in Urban Population
4.2.1.2 Rising Processed Food Products
4.2.2 Restraints
4.2.2.1 Equipment Breakdown
4.2.3 Opportunities
4.2.3.1 Increase in number of refrigerated warehouses
4.3 Technological Trends and Automation
4.4 Government Regulations and Initiatives
4.5 Industry Value Chain/Supply Chain Analysis
4.6 Spotlight on Ambient/Temperature-controlled Storage
4.7 Industry Attractiveness - Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers/Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitute Products
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of Emission Standards and Regulations on Cold Chain Industry
5. MARKET SEGMENTATION
5.1 Service
5.1.1 Storage
5.1.2 Transportation
5.1.3 Value-added Services
5.2 Temperature
5.2.1 Chilled
5.2.2 Frozen
5.3 Application
5.3.1 Fruits and Vegetables
5.3.2 Dairy Products
5.3.3 Fish, Meat, and Poultry
5.3.4 Processed Food
5.3.5 Pharmaceuticals
5.3.6 Bakery and Confectionery
5.3.7 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 JWD Logistics
6.2.2 Yokrei Cold Storage
6.2.3 Sinchai Cold Storage
6.2.4 Kainoke Cold Storage
6.2.5 Bangkok Cold Storage
6.2.6 M-SENKO LOGISTICS
6.2.7 Thai Max Cold Storage
6.2.8 SCG Cold Logistics
6.2.9 CTD Cold Storage
6.2.10 Amp-Nineteen Logistics Co., Ltd*
- *List Not Exhaustive
7. FUTURE OF THAILAND COLD CHAIN LOGISTICS MARKET
8. APPENDIX
Thailand Cold Chain Logistics Industry Segmentation
Cold chain logistics is the technology and process that safely transports temperature-sensitive goods and products along the supply chain. It relies heavily on science to evaluate and accommodate the link between temperature and perishability.
A comprehensive background analysis of the Thailand cold chain logistics market covers the current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape. The report also covers the impact of COVID-19 on the market.
The Thailand cold chain logistics market is segmented by service (storage, transportation, and value-added services), temperature type (chilled and frozen), and application (fruits and vegetables, dairy products, fish, meat and poultry, processed food, pharmaceuticals, bakery, and confectionary and other applications). The report offers market size and forecasts in values (USD) for all the above segments.
| Service | |
| Storage | |
| Transportation | |
| Value-added Services |
| Temperature | |
| Chilled | |
| Frozen |
| Application | |
| Fruits and Vegetables | |
| Dairy Products | |
| Fish, Meat, and Poultry | |
| Processed Food | |
| Pharmaceuticals | |
| Bakery and Confectionery | |
| Other Applications |
Thailand Cold Chain Logistics Market Research FAQs
How big is the Thailand Cold Chain Logistics Market?
The Thailand Cold Chain Logistics Market size is expected to reach USD 1.12 billion in 2024 and grow at a CAGR of 8.03% to reach USD 1.78 billion by 2029.
What is the current Thailand Cold Chain Logistics Market size?
In 2024, the Thailand Cold Chain Logistics Market size is expected to reach USD 1.12 billion.
Who are the key players in Thailand Cold Chain Logistics Market?
JWD Logistics, Yokrei Cold Storage, Sinchai Cold Storage, Kainoke Cold Storage and M-SENKO LOGISTICS are the major companies operating in the Thailand Cold Chain Logistics Market.
What years does this Thailand Cold Chain Logistics Market cover, and what was the market size in 2023?
In 2023, the Thailand Cold Chain Logistics Market size was estimated at USD 1.03 billion. The report covers the Thailand Cold Chain Logistics Market historical market size for years: . The report also forecasts the Thailand Cold Chain Logistics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Cold Chain Logistics Industry Report
Statistics for the 2024 Thailand Cold Chain Logistics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Cold Chain Logistics analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
