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South Korea Cold Chain Market Outlook to 2023

By Cold Storage (Ambient, Chilled and Frozen Warehousing) and Cold Transport (Land, Sea and Air), By Application (Dairy Products, Fruits and Vegetables, Meat and Seafood, Pharmaceuticals and Others) and By Ownership (Integrated and Third Party Logistics)

Region:Asia

Author(s):Nishika Chowcharia

Product Code:KR917

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Published On

November 2019

Total pages

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About the Report

The report titled "South Korea Cold Chain Market Outlook to 2023 - By Cold Storage (Ambient, Chilled and Frozen Warehousing) and Cold Transport (Land, Sea and Air), By Application (Dairy Products, Fruits and Vegetables, Meat and Seafood, Pharmaceuticals and Others) and By Ownership (Integrated and Third Party Logistics)" provides a comprehensive analysis on the cold chain market in South Korea. The report covers various aspects including overview and market size, market segmentation, stakeholders, value chain analysis, major players, competitive landscape, end-user potential in the cold chain industry and more. It also covers growth drivers, trends and developments, issues and challenges in the cold chain market along with the regulatory framework of the industry and SWOT. The report concludes with market projection for the various segments and analyst recommendations highlighting the major opportunities and cautions for the cold chain market.

South Korea Cold Chain Market Overview and Size

The market was observed to be at a growing stage owing to the increasing dependence of the country on imports of fruits and vegetables to meet its food requirements coupled with the rise of 3PL’s and active participation by the pharmaceutical industry in the country. The growing prominence of e-commerce coupled with the rise in consumer demand for perishable foods and expansion of food retail chains by multinationals have augmented to the growth of cold chain industry over the years. Increasing government investments in logistics infrastructure and warehouse management systems along with technological advancements in packaging, processing, and storage of seafood products are anticipated to drive future growth.

South Korea Cold Chain Market Segmentation

By Type of Market (Cold Storage and Cold Transport): The rising consumption of refrigerated products such as meat, seafood, fruits, and vegetables, dairy among others in the country are the major users of cold storage facilities which require cold transport facilities in order to be transported to the storage warehouses and then finally to the end-users, thus augmenting the growth of cold chain industry in the country.

By End-User Application (Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, Dairy Products, Bakery and Confectionery, and Others): Meat and seafood industry was analyzed to account for the majority share in terms of revenue in 2018. Active participation by the pharmaceutical industry in recent years has positively impacted the cold chain industry in South Korea and contributed the second-highest revenue share followed by other categories such as Fruits and Vegetables, Dairy products, Bakery and Confectionery and Other products.

By Ownership (Owned and Third-Party Logistics (3PL) Warehouses): The Third-Party Logistics (3PL) facilities dominated the Cold Chain market in South Korea, due to the increasing number of 3PL operators providing a wide variety of integrated services which are opted by cold chain operators as the cost of establishing cold storage warehouses and maintaining the fleet for refrigerated transportation is significantly high in the country.

South Korea Cold Storage Market Segmentation

By Temperature Range (Ambient, Chilled and Frozen): Out of the three temperature ranges, chilled storage was observed to be the leading contributor to the revenue of the cold storage industry owing to the huge demand for meat and seafood, pharmaceuticals and other processed foods in the country. The remaining revenue was contributed by ambient and frozen storages.

By Region (North, Central, and South): The northern region comprising of cities such as Seoul and Incheon was analyzed to account for the highest share in the revenue of the cold storage market as it acts as a hub due to the developed infrastructure and highest population in the region. The central region contributed the second-highest share which was followed by the Southern region including Busan and more.

South Korea Cold Transport Market Segmentation

By Mode of Transport (Land, Sea, and Air): Cold transport through land contributed the highest revenue to the cold transport industry due to the excellent road infrastructure and connectivity in the country. Sea and air transport accounted for the remaining share in the industry.

By Mode of Land Transport (40 Footer Reefers, 20 Footer Reefers and Others): Among the land transport facilities available in the country, the 40 footer reefers are the most commonly used ones because the cold transport business except the last mile delivery is usually done in bulk and the capacity of the truck in metric tons is much higher as compared to other reefers. The remaining share was captured by 20 Footer Reefers and others including 6 wheelers, 8 wheelers and 10 wheelers.

By Location (Domestic and International): Cold transportation to domestic markets accounted for the majority of the revenue of the cold transport industry due to the reliance of the country on imports for its food requirements. International cold transport contributed a meager share to the revenue of the industry as very few products such as seafood and pharmaceuticals are exported.

Competitive Landscape in South Korea Cold Chain Market

The South Korea cold chain market is fragmented in nature with the presence of multiple domestic and international players, organized 3PLs and unorganized small players operating in the market. Companies were observed to compete with each other on the basis of parameters such as warehousing space, temperature range, price, location and the provision of other value-added services. Major players in the cold chain market include Lotte Logistics, CJ Logistics, Dongwon Industrial, Borim Logistics, Dongbu Express, Hansol Logistics, DB Schenker, Daelim Corporation, GS Global, DHL, Ottogi Logistics, Pantos Logistics, and Others.

South Korea Cold Chain Market Future Outlook and Projections

In the future, it is anticipated that the South Korea Cold Chain market in terms of revenue will increase at a double-digit CAGR of 13.6% during the period 2018-2023E. The constantly rising demand for products such as meat and seafood, dairy products, fruits and vegetables and other frozen and processed foods in the country coupled with the active participation of the pharmaceutical sector, increase in government initiatives to develop the logistics infrastructure is expected to propel the growth of the cold chain industry in the country. Additionally, increasing adoption of warehouse automation technologies such as EDI, RFID, AS/AR and others are expected to improve the operational efficiency of the South Korea cold chain market over the forecast period 2018-2023E.

Key Topics Covered in the Report

South Korea Cold Chain Market Overview and Genesis
Stakeholders in South Korea Cold Chain Market
Value Chain Analysis of South Korea Cold Chain Market
Infrastructural Analysis of South Korea
Regional Analysis of Major Cities in South Korea (Seoul and Busan)
Comparative Analysis of South Korea Cold Chain Market with other countries
South Korea Cold Chain Market Size, 2013-2018
South Korea Cold Chain Market Segmentation, 2013-2018
South Korea Cold Chain Market Future Outlook and Projections, 2019E-2023E
South Korea Cold Storage Market, 2013-2018
South Korea Cold Storage Market Segmentation, 2013-2018
South Korea Cold Storage Market Future Outlook and Projections, 2019E-2023E
South Korea Cold Transport Market Size, 2013-2018
South Korea Cold Transport Market Segmentation, 2013-2018
South Korea Cold Transport Market Future Outlook and Projections, 2019E-2023E
End-User Potential in South Korea Cold Chain Market
Competitive Advantage for Setting up Cold Chain Facilities in South Korea
Government Regulations in South Korea Cold Chain Market
Growth Drivers and Trends in South Korea Cold Chain Market
Issues and Challenges in South Korea Cold Chain Market
Decision Making Process for Clients in South Korea Cold Chain Market
SWOT Analysis of South Korea Cold Chain Market
Competitive Landscape in South Korea Cold Chain Market
Analyst Recommendations for South Korea Cold Chain Market

Products

Key Target Audience

Cold Chain Companies
Logistics Companies
Private Equity Investors
Government Associations
Construction Companies
Dairy Companies
Meat and Seafood Companies
Fruits and Vegetable Companies
Pharmaceutical Companies
Ice-Cream Companies

Time Period Captured in the Report

Historical Period: 2013-2018
Forecast Period: 2018-2023E

Companies

Key Segments Covered

By Type of Market

Cold Storage

By Temperature
Frozen
Chilled
Ambient

By Region

North
Central
South
Cold Transport

By Mode of Transport

Land
Sea
Air

By Location

Domestic
International

By Mode of Land Transport

40 Footer reefers
20 Footer reefers
Others (6,8,10 wheelers and more)

By Vicinity

Inter-city
Intra-city

By End-User Application

Meat and Seafood
Fruits and Vegetables
Pharmaceuticals/Healthcare
Dairy Products
Bakery and Confectionary
Others

By Ownership

Owned/Integrated
Third-Party Logistics (3PL)

Companies Covered

Lotte Logistics
CJ Logistics
Dongwon Industrial
Borim Logistics
Dongbu Express
Hansol Logistics
DB Schenker
Daelim Corporation
GS Global
DHL
Ottogi Logistics Service Co., Ltd.
Pantos Logistics

1. Executive Summary

2. Research Methodology

2.1. Market Definitions

2.2. Abbreviations

2.3. Market Size and Modeling

2.4Consolidated Research Approach

2.5Market Sizing Aproach– South Korea Cold Chain Market

2.6Sample Size Inclusion Table

2.7Limitations

2.8Final Conclusion

2.9Variable (Dependant and Independent)

2.10Multi Factor Based Sensitivity Model

3. Stakeholders in South Korea Cold Chain Market

4. South Korea Cold Chain Market Overview and Genesis

5. Value Chain Analysis for South Korea Cold Chain Market (Inter-Entity Relationship and Margin Analysis)

6. Infrastructural Analysis of South Korea

6.1. Road and Rail Network

6.2. Sea Network

6.3. Air Network

6.4. Free Economic Zone Infrastructure

7. Regional Analysis of Major Cities in South Korea (Seoul and Busan)

8. Comparative Analysis of South Korea Cold Chain Market with Cold Chain Markets in Other Countries, 2013-2018

9. South Korea Cold Chain Market Introduction

9.1. By Revenue, 2013-2018

9.2. Existing Technologies in South Korea Cold Storage Market

Radio Frequency Identification (RFID)

9.3. South Korea Cold Chain Market Segmentation

9.3.1. By Type of Market (Cold Storage and Cold Transport), 2013-2018

9.3.2. By End-User Application (Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, Dairy
Products, Bakery and Confectionary and Others), 2013-2018

9.3.3. By Ownership (Owned and 3PL Cold Chain Facilities), 2013-2018

9.4. South Korea Cold Chain Market Future Outlook and Projections, 2018 – 2023E

9.4.1. By Type of Market (Cold Storage and Cold Transport), 2019E-2023E

9.4.2. By End-User Application (Meat and Seafood, Fruits and Vegetables, Pharmaceuticals, Dairy
Products, Bakery and Confectionary and Others), 2013-2018

9.4.1. By Ownership (Owned and 3PL Cold Chain Logistics), 2019E-2023E

9.4.2. Emerging Technologies in South Korea Cold Chain Market

10. South Korea Cold Storage Market

10.1. By Cold Storage Revenue and Number of warehouses, 2013-2018

10.2. South Korea Cold Storage Market Segmentation

10.2.1. By Ownership (Owned and 3pl Cold Storage Warehouses), 2018

10.2.2. By Temperature (Ambient, Chilled and Frozen), 2018

10.2.3. By Region (North, Central and South), 2018

10.1. South Korea Cold Storage Market Future Outlook and Projections, 2019E-2023E

10.1.1. By Ownership (Owned and 3PL Cold Storage Warehouses), 2019-2023E

10.1.2. By Temperature (Ambient, Chilled and Frozen), 2019E-2023E

10.1.3. By Region (North, Central and South), 2018

11. South Korea Cold Transport Market

11.1. By Cold Transport Revenue, 2013-2018

11.2. South Korea Cold Transport Market Segmentation

11.2.1. By Ownership (Owned and 3PLCold Transport Facilities), 2018

11.2.2. By Mode of Transport (Sea, Air, Land), 2018

11.2.3. By Mode of Land Transport (40 Footer Reefers, 20 Footer Reefers and Others), 2018

11.2.4. By Location (Domestic and International Cold Transport), 2018

11.2.5. By Vicinity (Inter-City and Intra-City Cold Transport), 2018

11.3. South Korea Cold Transport Market Future Outlook and Projections, 2019E-2023E

11.3.1. By Ownership (Owned and 3PLCold Transport Facilities), 2023E

11.3.2. By Mode of Transport (Sea, Air, Land), 2023E

11.3.3. By Mode of Land Transport (40 Footer Reefers, 20 Footer Reefers and Others), 2023E

11.3.4. By Location (Domestic and International Cold Transport), 2023E

12. End- User Potential in South Korea Cold Chain Market (Overview, Major Products, Major

Companies, Type of Storage Required, Temperature Range, Decision Making Factors for Clients,

Cold Storage Expenditure, Market Orientation, Preferred Location, Distribution Channels,

Facilities Required and Future Outlook, Market Size and Market Share of Companies)

12.1. Major Product Categories in South Korea Cold Chain Market

12.2. Meat and Seafood Industry

Requirements for Setting up a Cold Storage Warehouse for Meat and Seafood Products

12.3. Fruits and Vegetables Industry

12.4. Dairy Industry

12.5. Bakery and Confectionery Industry

12.6. Pharmaceutical Industry

12.7. Ideal Temperature Range for Cold Storage of Major Products in South Korea

Desirable Set-up Locations of Cold Storage Infrastructure Components

Factors Determining Cold Storage Design in South Korea

U-Flow Warehouse

Through Flow Warehouse

13. Competitive Advantage for setting up Cold Chain facilities in South Korea

Challenges Encountered By Cold Chain Companies in South Korea

14. Regulatory Scenario in South Korea Cold Chain Market

Incentives for foreign investors in free trade zones and free economic zones

15. Growth Drivers and Trends in South Korea Cold Chain Market

High Demand for Seafoods in the Country

Free Trade and Economic Zones

Increasing Pharmaceutical Industry in the Country

Surging in E-Commerce Logistics

Growth of Retail Sector

Rising Demand for Processed Food in the Country

16. Issues and Challenges in South Korea Cold Chain Market

Bases and Infrastructure are still insufficient

Irregularities in the Rules and Regulations Governing the industry

Lacking Technological Advancement

Inefficient Logistics Systems

Land and Space Utilization

Swift and various logistics services are relatively weak

17. Decision Making Process for Clients in South Korea Cold Chain Market

18. SWOT Analysis of South Korea Cold Chain Market

19. Competitive Landscape in South Korea Cold Chain Market

19.1. Competition Scenario in South Korea Cold Chain Market (Competition Stage, Major Players,
Competing Parameters)

19.2. Market Share of Major Players (Lotte Logistics, CJ Logistics, Dongwon Industrial Co.,
Ltd, Hanjin Corporation, Borim Logistics And Others, 2018

19.3. Cross Comparison of Major Players in South Korea Cold Chain Market (Basis of
Local/International, Number of Branches, Locations and Temperature Range Offered)

19.4. Company Profiles of Major Players in South Korea Cold Storage Market (Including Service
Portfolio, USP, Business Strategies, Business Strengths, Business Sectors, Logistics Hubs,
Insurance, IT System, Fleet Size, Minimum Lease for Shipping Centers, Clientele, Recent
Developments, Recognitions and Global Presence)

19.4.1. Lotte Global Logistics

19.4.2. CJ Logistics

19.4.3. Dongwon Industrial Co., Ltd

19.4.4. Borim Logistics

19.4.5. Dongbu Express

19.4.6. Hansol Logistics

19.4.7. Schenker Korea Ltd.

19.4.8. Daelim Corporation

19.4.9. GS Global

19.4.10. DHL Korea

19.4.11. Ottogi Logistics

19.4.12. Pantos Logistics

20. Analyst Recommendations for South Korea Cold Chain Market

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