Ever Lasting Demand, Adoption of New Technologies and Government Initiatives had driven Nigeria Cold Chain Market: Ken Research

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Government Initiatives:  Government of Japan provided USD39 million to UNICEF for establishing cold chain settings in Nigeria and 31 countries. The funds would be utilized for purchasing cold chain equipment, including walk-in freezer room, solar vaccine refrigerators, temperature-controlled devices, technical assistance, and facilitate monitoring of vaccine potency. In 2021, the Launch of Your Virtual Cold Chain Assistant (Your VCCA) project, which is data-driven mobile software that bridges gap between post-harvesting infrastructure and technology by increasing access to cold storage facilities in Nigeria, and monitor shelf-life of produce in real-time by farmers. Lagos held 2nd West Africa Cold Chain Summit and Exhibition (WACCSE) which aimed at bringing together the government and banks in private sector which would stimulate cold chain industry. With the grants given by the initiative "PLAN", Cold Hubs Ltd, conceptualized solar and diesel-powered cold storage spaces and refrigerated truck solutions, on easy low-cost repayment model.

Ever Lasting Demand: The demand for cold chain is driven by the growth and presence of agricultural and pharmaceutical companies. Since the population is growing in Nigeria, we can expect the cold chain industry to ultimately grow in the coming decades. Investment by international players such as DHL, have started offering advanced cold chain facilities to cater to pharmaceutical clients. Rising incomes and increased awareness on the nutritional benefits of milk and dairy products, coupled with changes of taste of preferences among Nigeran consumers, have contributed to the growing demand for milk and dairy products.

Adoption of New Technologies: The cold storage facilities need to maintain temperature 24*7, and regular power supply is needed for that. Since, Nigeria is not equipped with right proper power infrastructure yet, solar powered cold storage facilities are an amazing innovation, introduced recently in the market. Cold storage units that use solar electricity as a power source have been introduced to as an innovation to overcome this problem. Companies like cold hubs are the market leaders in this segment.

Analysts at Ken Research in their latest publication “Nigeria Cold Chain Market Outlook to 2026 – Driven by high food produce wastage due to lack of cold chain infrastructure, solar-focused start-ups, and increased disposable income of consumers” by Ken Research observed that Cold Chain market is an emergent market in Nigeria at a growing stage even during the pandemic as well. The rising of E-Commerce Companies and the increase in pharmaceuticals imports, along with the burgeoning demand for Processed and Packaged Foods, is expected to contribute to the market growth over the forecast period. The Nigeria Cold Chain Market is expected to see high growth rate over the forecasted period 2021-2026F.

Key Segments Covered:-

Nigeria Cold Chain Market

By Cold Chain Market Size (by Revenue), 2021 & 2026F

Cold Transportation (Revenue, Reefer trucks, Price)

Cold Warehousing ( Revenue, Price, Space, occupancy rate)

Nigeria Cold Warehousing Market:-

By Pallet Size (by Revenue), 2021 & 2026F

Chilled

Frozen

Ambient

By End-User (by Revenue), 2021 & 2026F

Meat & Seafood

Fruits and Vegetables

Pharmaceuticals

Dairy Products

Others (Horticulture & more)

By Geography (by Revenue), 2021 & 2026F

Lagos State

Ogun State

Others (Imo State, Abuja State).

Nigeria Cold Transportation Market:-

By Mode of Transport (by Revenue), 2021 & 2026F

Land

Air

Sea

By Type of Freight (by Revenue/Price or No of Reefer Trucks), 2021 & 2026F

International Freight

Domestic Freight

By End-User (by Revenue), 2021 & 2026F

Meat & Seafood

Fruits and Vegetables

Pharmaceuticals

Dairy Products

Others (Horticulture & more)

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Key Target Audience:-

Cold Transport Companies

Warehousing Companies

Pharmaceuticals

Food & Vegetables Providers

Meat & Seafood Providers

Dairy products Companies

Government and Institutions

Time Period Captured in the Report:-

Historical Period: 2016-2020

Base Year: 2021

Forecast Period: 2022– 2026F

Companies Covered:-

MDS Logistics

Zenith Carex

TranEX

Red Star

Cold Hubs

Kenie-O-Cold Chain Logistics

Wigmore Trading

Flux Logistics

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Key Topics Covered in the Report:-

Nigeria Cold Chain Market Overview

Nigeria Cold Chain Market Economy

Nigeria Cold Chain Market Demographics

Nigeria Cold Chain Market Value Chains

Ecosystem of Major Entities in Nigeria Cold Chain Market

Current Technologies in Nigeria Cold Chain Market

Current Solar-based Technologies in Nigeria Cold Chain Market

Cross Comparison of Technologies in use in Nigeria Cold Chain Market

Emerging Technologies in Nigeria Cold Chain Market

Logistics Infrastructural Analysis of Nigeria.

Genesis of Nigeria Cold Chain Market

Nigeria Cold Chain Market Size and Segmentations

COVID Impact on Cold Chain Industry of Nigeria

Trends and Developments in Nigeria Cold Chain Market

Issues and Challenges in Nigeria Cold Chain Market

Decision Making Process and Factors for selecting a logistics partner in Nigeria

Decision Making Parameters for selecting a logistics partner in Nigeria

Strengths, Weaknesses, Opportunities and Threats for Nigeria Cold Chain Industry

Competition Landscape

Strengths and Weaknesses of Major Players in Nigeria Cold Chain

End-User Potential in Nigeria Cold Chain Market

Future Market Outlook and Segmentations for Nigeria Cold Chain Market

Cold Transportation Future Market size by Revenue and Segmentation, 2022-26F

Cold Chain Future Market Segmentation by End Users, 2022-26F

Analyst Recommendations

For more insights on the market intelligence, refer to below link:-

Nigeria Cold Chain Market

Related Reports By Ken Research:-

Philippines Cold Chain Market Outlook To 2026F

Malaysia Cold Chain Market Outlook To 2026

Qatar Cold Chain Market Outlook To 2026

The Nigeria cold chain is a blue ocean market with a vast opportunity for new players to set-up operations: Ken Research

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1.  Nigeria Cold Chain Market is growing at a CAGR of 11.2% with ample of unexplored opportunities available in the market to grow in future 

There is wide-spread food wastage of fresh fruits and vegetables. According to certain estimates as much as 30%-40% of the total post-harvest losses can be attributed to the absence of supporting infrastructure. Nigeria is witnessing the development of pharmaceutical cold chain infrastructure beyond metropolitan cities and increased number of cold chain companies like Philips Pharmaceutical Nigeria Ltd which will add to the revenue of cold chain market.

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2.  The new breakthrough cold chain technologies in Nigeria include solar cold rooms, solar refrigerators, and solar ice-makers

These are powered through solar energy. They use a combination of solar panels and lead-acid batteries is used to store generated energy for periods when sunlight is unavailable. The temperature range for these are between 0 degree Celsius to 10 degrees Celsius.

The blocks of ice are created during daylight hours and kept at 0ºC within the ice maker at night using battery power. The thermal capacity of the solar ice makers allows for the use of ice as energy storage, which preserves food for multiple days at a time in the absence of sunlight.

Solar Freezers use the energy from sunlight, to maintain sub-zero-degree Celsius temperature to store commodities at freezing temperatures. Temperature ranges to -18 degree Celsius and below. These are primarily used in areas with improper electricity supply.

3.  The Cold Transportation market is expected to grow at CAGR of 10.6% during 2021-2026F

• The penetration rate of reefer trucks is expected to remain less than a percent in 2026F in Nigeria Cold transportation market.
• The revenue generated from land cold transportation is expected to grow at a CAGR of ~12% during 2021-2026F.
• The average revenue to be earned by a reefer truck in 2026F is expected to increase in future due to growing demand of Food and Beverage, Healthcare industry and sustained efforts made by International Organisations and Government Authorities to improve infrastructure in the country.
• Overall market outlook to 2026F is bullish since the number of reefer trucks, the no. of players in cold transportation market and average revenue earned by a reefer truck is expected to increase over the years.

For more insights on the market intelligence, refer to below link:-

Nigeria Cold Chain Market

Related Reports By Ken Research:-

Philippines Cold Chain Market Outlook To 2026F: Driven By Rising Meat And Seafood Consumption Owing To Growing Millennial Population Albeit Infrastructure Challenges

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

Qatar Cold Chain Market Outlook To 2026 - Driven By FIFA World Cup 2022’S Logistics Demand And Infrastructural Growth Along With A Tailwind Of Technological Development, Qatar Cold Chain Market Experiencing Growth