Great investment opportunity for cold storage center in Vietnam
According to Jones Lang LaSalle (JLL), the trend of e-commerce platform development in combination with the complicated developments of the Covid-19 pandemic promotes consumers to switch to online ‘shopping’, which causes a sharp increase for demand on cold storage – a segment facing up with a serious shortage of supply in all countries around the world, including Vietnam.
Cold storage is a system that is able to adjust and control temperature as well as humidity to extend storage time for a number of certain items such as food, cosmetics or even vaccines.
According to Prnewswire1, the global cold chain market was valued at 4.7 billion USD in 2019 and is expected to reach 8.2 billion USD by 2025, at an annual average growth rate of 12.5% in the period of 2020 - 2025.
The cold storage can be divided into 3 main types, namely: deep-freeze storage (from -30oC to -28oC), frozen storage (from -20oC to -16oC) and cool storage (from 2oC to 4oC).
At this time, the supply of cold storage is distributed mainly in the southern region due to great demand with approximately 60% of market share hold by foreign investors.
The first commercial cold storage of Vietnam was built in 1996 by Konoike Vinatrans, a joint venture between Japan and Vietnam. In 1998, Swire Cold Storage of Australia commenced to build one of the most modern cold storage facilities at that time. Until 2007, Hung Vuong Joint Stock Company constructed two more cold storages with a total capacity of 40,000 tons of goods. Following that, some enterprises also started construction of cold storage such as LOTTE Sea (2009) and Preferred Freezer Services (2010).
Images of Swire Cold Vietnam cold storage in Bac Ninh
Currently, Swire Cold (Emergent Cold) is the leader in market share and storage technology in Vietnam. Swire Cold plans to develop and expand cold storage system in the Northern provinces and intend to make investment in construction of 3rd cold storage in Bac Ninh with a total expanded area of more than 14,000 m2 – total expected construction area of nearly 8000 m2.
According to Vietnam finace & Vn Express
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