Latest 2023 Developments of the Saudi Arabia Cold Storage Market
Saudi Arabia Cold Storage Market witnessed recent development includesGRP sheet for truck bodies further enhances refrigeration and also helps in reducing weight. Directly enhances the carrying capacity for these small trucks. Performance monitoring systems pitch in. They are cheap, provide critical data, enable better decision-making, and above all keep the cold storage’s customers updated and assured that the stock is safe and stored under ambient conditions. When blockchain is introduced in the cold chain it can lead to staggering efficiency improvements and better monitoring. IoT companies could be the immediate knights to save the day for their companies in the cold chains.
Mergers and Acquisitions:
Lineage Logistics acquired Ontario Refrigerators on July 24, 2020.
Saudi Arabia Cold Storage Market Synopsis
Projected growth in the retail market, upcoming new hotels & shopping malls, demand for packaged food items along increasing FDI inflow in the construction and retail sectors are some of the key factors shaping the cold storage market in Saudi Arabia. In Saudi Arabia cold storage market, the retail cold storage vertical segment accounted for the highest market revenues owing to the availability of supporting infrastructure and increasing installation in organized retail units, particularly, hypermarkets and supermarkets.
According to 6Wresearch, Saudi Arabia cold storage market size is projected to reach $2,572 million by 2024. Saudi Arabia market registered a decline in demand during 2014-16 due to deteriorating economic conditions owing to a fall in oil prices. However, the market is anticipated to bounce back with the recovery of oil prices post-2017. Further, growing concerns over food wastage and the increasing population in Saudi Arabia are expected to boost the growth of the cold storage market during the forecast period. Amongst all the verticals, the retail & logistics segment acquired the highest revenue share of the market. Additionally, the hospitality & healthcare, along with government & transportation verticals are expected to witness the highest Saudi Arabia Cold Storage Market forecast revenues over the coming years.
In Saudi Arabia, the Central region held the majority of the Saudi Arabia cold storage market share in terms of revenue on the back of increasing infrastructure development activities, especially in the industrial & manufacturing verticals. The Central region is expected to maintain its market share during the forecast period as well.
The Saudi Arabia cold storage market report thoroughly covers the market by cold storage types, technology, verticals, end-user, and regions. The Saudi Arabia cold storage market outlook report provides an unbiased and detailed analysis of the Saudi Arabia cold storage market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics. Saudi Arabia Cold Storage Market, the concept of the cold storage need is generated products keep fresh while controlling the temperature and level of humidity to keep the things fresh in the cold storage. There are many features of the cols storage long time span, able to keep the packaged food, fruits, vegetables, meat, fish, the dairy product that’s why nowadays day by day demand for packed food items rising consumers can keep it for a long time.
Saudi Arabia, the cold storage market is projected to witness potential growth in the coming timeframe on the back of rising retail outlets and supermarkets in the country as a result of the massive development of the retail sector. Additionally, increased demand for ready-to-eat food and frozen food among the population is estimated to elevate the demand for cold storage systems in order to preserve perishable products for a long time. The rising number of restaurants is expected to generate lucrative opportunities in the market owing to increased demand for frozen desserts which is anticipated to spur the prominent growth of Saudi Arabia cold storage market during the forecast period.
Saudi Arabia cold storage market is anticipated to register sound revenues during the forecast period 2020-26F on the back of the increase in the consumption rate of frozen fruits among the health-conscious population. Further, the rise in the expansion of construction projects in the country like the Red Sea, Neom, Jeddah tower, and Qiddiya are estimated to support the growth and development of the commercial and hospitality sector is estimated to instigate cold storage adoption in the coming year and would bring in opportunities for them to be investors to widen the market landscape and is estimated to secure tremendous growth of the Saudi Arabia cold storage market in the forthcoming years.
Key Highlights of the Report:
• Saudi Arabia Cold Storage Market Overview
• Saudi Arabia Cold Storage Market Outlook
• Historical Data of Global Cold Storage Market for the Period 2014-2017
• Market Size & Forecast of Global Cold Storage Market until 2024
• Historic Data of Saudi Arabia Cold Storage Market for the Period 2014-2017
• Saudi Arabia Cold Storage Market Size & Saudi Arabia Cold Storage Market Forecast of Revenues until 2024
• Historic Data of Saudi Arabia Cold Storage Market Revenues, By Technology for the Period 2014-2017
• Market Size & Forecast of Saudi Arabia Cold Storage Market Revenues, By Technology until 2024
• Historic Data of Saudi Arabia Cold Storage Market Revenues, By Storage Type for the Period 2014-2017
• Market Size & Forecast of Saudi Arabia Cold Storage Market Revenues, By Storage Type until 2024
• Historic Data of Saudi Arabia Cold Storage Market, By End-Use for the Period 2014-2017
• Market Size & Forecast of Saudi Arabia Cold Storage Market, By End-Use until 2024
• Historic Data of Saudi Arabia Cold Storage Market, By Verticals for the Period 2014-2017
• Market Size & Forecast of Saudi Arabia Cold Storage Market, By Verticals until 2024
• Historic Data of Saudi Arabia Cold Storage Market, By Regions for the Period 2014-2017
• Market Size & Forecast of Saudi Arabia Cold Storage Market, By Regions until 2024
• Saudi Arabia Cold Storage Market Drivers and Restraints
• Saudi Arabia Cold Storage Market Trends and Developments
• Saudi Arabia Cold Storage Market Share by Players
• Saudi Arabia Cold Storage Market Overview on Competitive Benchmarking
• Company Profiles and Key Strategic Pointers
Markets Covered
The Saudi Arabia cold storage market report provides a detailed analysis of the following market segments:
By Types:
- Chiller
- Freezer
- Blast Freezer
By End-User:
- Fish, Meat & Seafood
- Dairy
- Pharmaceuticals
- Fruits & Vegetables
- Processed/Frozen Food
- Industrial Chemicals
- Others
By Verticals:
- Government & Transportation
- Healthcare & Hospitality
- Industry & Manufacturing
- Retail & Logistics
By Storage Type:
- Refrigerated Containers
- Refrigerator Ships
- Warehousing
- Air Cargo
- Refrigerated Trucks
- Other Storage Type
By Regions:
- Central
- Eastern
- Western
- Southern
