Global Market Research Reports : Ken Research: Malaysia Cold Chain Market 2021-2026 By Target Audience, Companies, Trends, Revenue, Demand, Growth: Ken Research

Wednesday, May 11, 2022

Malaysia Cold Chain Market 2021-2026 By Target Audience, Companies, Trends, Revenue, Demand, Growth: Ken Research

Malaysia’s Logistics and Trade Facilitation Masterplan: Economic Planning Unit (EPU) developed the Logistics and Trade Facilitation Masterplan to provide the strategic direction for the development of the logistics industry to further improve its productivity and competitiveness. The Logistics and Trade Facilitation Masterplan (2015-2020) is overseen by the National Logistics Taskforce and sets out five key strategies and 21 action items, with the vision for Malaysia to become the preferred logistics gateway to Asia. This will positively contribute to the cold chain sector’s growth in the future and draw more investments into Malaysia’s logistics industry.

Malaysia Transport Policy: The government wants to enhance the integration, connectivity & accessibility for seamless journey by 2030. Also, the aim is to expand global footprint by promoting internationalization of transport services. The Transport Policy mentions Malaysia’s commitment towards an efficient connectivity for first and last mile services. Malaysia’s transport sector represents a critical enabler for its logistics sector development. The efficiency of Malaysia’s transportation system directly correlates to trade and economic growth.

Technological Advancement and Automation: Malaysia is behind in technology adoption. Although, technologies like RFID, Wireless Sensor Network, WMS are available in the market, most cold chain operators still control their operation with manual methods. This poses a threat for Malaysian cold chain industry as it can prove to be less competitive in comparison to other countries like Singapore in the region. Major cold chain operators are using technology as a means to differentiate themselves from the competitors in the country.

Halal Hub: Malaysia is the leading global halal hub. The country plays host to the Malaysia International Halal Showcase (MIHAS) and the World Halal Forum (WHF). Malaysia, being the forefront of International Halal Food Hub has designated Halal Industrial Park which caters to halal food among other services offered and allows businesses to share common facilities such as storage, cold chain warehousing and support services. The growing demand and supply for Halal food in the country are contributing to the expansion of cold chain in Malaysia.

Analysts at Ken Research in their latest publication “Malaysia Cold Chain Market Outlook To 2026 - Driven by Increase in Demand for Perishable Food Items and its Establishment as the Halal Industry Hub, Malaysia Cold Chain Market Experiencing Growth“ believe that the Cold Chain market in Malaysia is expected to experience positive growth owing to the increase in e-commerce and government’s initiatives to improve the logistics infrastructure in the country as part of Malaysia’s ‘National Transport Policy’. The market is expected to register a positive CAGR of 7.6% in terms of revenue during the forecasted period 2021P - 2026F.