Global Market Research Reports : Ken Research: Sea Food market in Oman

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Wednesday, July 18, 2018

Oman Cold Chain Market is Driven by Rising Demand and Change in the Government Economic Policies resulting in Huge Requirement for the Development of Cold Storage Facilities: Ken Research

The report titled “Oman Cold Chain Market Outlook to 2022 - By Type (Cold Storage and Cold Transport); By End-user Industries (Meat and Seafood, Poultry and Eggs, Confectionaries and Others); By Entity (Logistics Owned and 3PL)” by Ken Research suggested a positive CAGR of 11.4% in terms of total revenue of the Oman cold chain logistics market in the next 5 years till 2022.

Most of the food manufacturers and importers in Oman demand cold storage facilities from the contractors owing to cost concerns, consumer preferences and to avoid the complexities involved in the product handling, management and storage.

There has been increase in the cold storage capacity by increase in the number of cold storage pallets and cold transport infrastructure by companies to cater to rising demand in Cold Storage facilities.

Omani government decision to diversify the economy of the country to reduce its huge dependence on oil money has led them to earmark Logistics as key industry. This is majorly to leverage the geographical advantage of Oman as the entry gate of GCC. With this huge investment in logistics infrastructure, Oman will be the entry point of all major goods entering into GCC especially the food import. The cold storage facilities are maximum utilized by meat and seafood importing and exporting companies, followed by Poultry and Eggs. Confectionaries also contribute to a major portion of the usage percentage of the existing facilities. Increase in the number of supermarkets and restaurant have triggered the demand for cold storage and transport systems to keep the products fresh and maintain their quality. There has been a rise in ‘just in time’ inventory systems utilized by various companies to meet the demand for different products such as meat, fisheries and agricultural and food products.

Rise in E-commerce and the growing tech savvy population has triggered the online ordering of food which has enhanced the demand for cold storage systems as various foods and drinks require cold storage. The capacity of Oman Cold chain industry has increased over the years. With the rise in food and pharmaceutical imports in the future the demand for cold storage facilities in Oman is further going to peak up. Major players in the cold chain logistics are preparing for this expected increase in demand by expanding their capacity.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/oman-cold-chain-market/149593-100.html

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https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-cold-chain-market/142347-100.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
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+91-9015378249

Thursday, June 28, 2018

Oman Cold Chain Industry is Heating up with Rising Demand for Meat & Sea Food : Ken Research

New Technological Change in Cold Chain Industry

According to Harsh Mittal, Senior Research Analyst at Ken Research, “Cold chain logistics infrastructure network can be improved by covering all major food consumption and production areas. New technologies involving the use of IOT in the monitoring of the cold chain and new refrigeration technology such as NXT COLD employing Electronic Refrigerant Injection Control Technology can be used to improve energy efficiency as the biggest cost of running a cold storage plant is of electricity.”

Ken Research estimates that the cold chain market in Oman is expected to grow at CAGR of 11.4% for the next five years to reach over USD 75 million by 2022.”

Oman have been chosen as a hot spot for cold chain sector due to strategic location and rapid diversification of economic activities basis which the sector has seen increase in investment activities. The government has made huge attempts to diversify the economy and reduce its dependence on oil. The logistic sector has been identified as the major sector which can contribute to the GDP of the country because of the strategic geographical location of Oman. With the development in the logistics sector and increase in the trade amount of goods with temperature dependent storage requirement, the demand for cold storage infrastructure have continued to prosper.

Early Stage Cold Chain Sector

Cold Chain sector in Oman is currently in its early growth stage however, there are limited players which provide cold chain services to varied end users such as meat, vegetables, dairy, poultry and pharmaceuticals. Cold storage capacity, which is generally measured in the number of pallets, stands at 400,000 as on December 2017 and looking at the focus of the government to make Oman a gateway to all the goods that arrive at GCC by developing the infrastructure and employing the latest technology,

Oman cold chain market is highly concentrated in nature and is at the nascent stage because of poor infrastructure, imperfect logistics system and low promotions. The major players in the country in the cold chain services include Agility Logistics, Al Madina Logistics, Enhance Oman, AL Khaleej Cold Store and ILS Logistics. Cold chain companies compete on various factors including the storage capacity, number of pallets, space, distribution network, number of clients, service verticals and others.

Compelling Potential with Growing End User Industries

Growth in end user industries for cold chain services such as pharmaceuticals, meat & seafood, frozen food and others have increased the demand for both cold transport and cold storage in the country. E-commerce industry has grown at a significantly high rate which has given a boost to the cold chain industry. However, despite of surge in demand, the occupancy rate of the cold storage facilities across the industry currently stands at around 60%. Cold Chain companies usually hold the inventory for 60-90 days. The price for the cold storage facility is OMR 0.35 per pallet per day.

The growing consumption of food and increasing food safety concerns in the market as well as the growing trend among Omani people for the consumption of frozen meat and seafood is anticipated to propel the demand of cold chain services in Oman. In addition to this, growth in pallet capacity by cold chain companies and establishment of global logistics partner will support market growth.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/oman-cold-chain-market/149593-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/india-cold-chain-market/143603-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-cold-chain-market/142347-100.html

+91-9015378249

Friday, June 8, 2018

Oman Cold Chain Market is Led by Rising Demand for Frozen Food, Ready to Eat, Fruits and Vegetable Sector: Ken Research

Analysts at Ken Research in their latest publication “Oman Cold Chain Market Outlook To 2022 - By Type (Cold Storage and Cold Transport); By End user Industries (Meat and Seafood, Poultry and Eggs, Confectionaries and Others); By Entity (Logistics Owned and 3PL)” believe that capacity expansion, tie ups with e-commerce players and using innovative warehousing and cognitive/ smart temperature technologies in the industry will aid Oman cold chain market to develop.

Oman Cold Chain market is expected to register a healthy five year CAGR of around 11.4% during the period 2017-2022. Rising e-commerce and commercialization of warehouse management systems are expected to have positive impact on the demand for cold storage and cold transport.

· The government initiatives to diversify the economy and reduce the dependence of Oman’s economy on oil have led to huge investment in the development of infrastructure to promote Logistics industry and ultimately establish Oman as Logistics hub in GCC. This will increase the demand for cold storage services.

· The rise in the demand for processed meat and seafood is expected to increase in the country which will support the requirement of the cold storage and transport services.

· The express logistics market is expected to drive the cold chain logistics market owing to the shipments consisting of perishable items

Growth in Demand for Reefer Trucks and Cold Storage

There has been a steady growth in the demand for refrigerated trucks in Oman. The increasing demand for frozen food and ready to eat meals triggered the growth in cold transport market in the country. There has been rise in the consumption of frozen foods and ready to eat meals largely due to surge in the business of hyper marts and convenience stores across Oman. The import and export of fruits and vegetables, sea food, meat, confectionary products have driven the temperature controlled logistics industry.

Oman is a large consumer of fish at 28 kgs per person per year and there has been an increased focus from the government to increase the fish production of the country. This will also calls for huge investment in cold storage facilities. The E-commerce market in MENA region is expected to grow substantially in the future which will increase the demand for Cold Storage facilities as a large part of the E-commerce growth are expected to come from online grocery delivery.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/oman-cold-chain-market/149593-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/india-cold-chain-market/143603-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-cold-chain-market/142347-100.html