Executive Summary
The Philippines cold chain market is largely driven by rising domestic meat and seafood consumption, expansion of current warehouses, and growing government efforts and investments in the nation.
There are various types of warehouses around the nation, including integrated cold chain facilities, cold storage, and dry storage. The supply chain includes warehousing as a crucial link.
“Warehouses are becoming one of the Prominent Long Term Investment in Philippines”
The Philippines' upcoming major real estate investment is predicted to be warehouses. In the new normal, local businesses who were compelled to shut down physical storefronts and transfer their product inventory to online platforms will continue to see a rise in storage needs for their product inventory. Another growing potential is investing in distribution centres, storage facilities, and warehouses. The conversion of commercial premises into last-mile hubs, micro-warehouses, or storage facilities is another encouraging development in the nation.
“The industrial and retail industries in the Philippines are the main sources of storage. Container freight, cold storage, and agriculture are further significant contributions.”
It's crucial to pay close attention to the development of the e-commerce sector. Online shopping is becoming more and more popular, which has a significant impact on Philippine warehousing. The demand for more warehouse and logistics space will continue to increase locally as more businesses move from offline to online. The combined 1.6 million square meter storage facilities around the nation were 9.1% occupied in the first quarter of 2021.
100% of warehouse rents are occupied in Central Luzon, compared to 98.4% in Metro Manila and 84.24% in Calabarzon.
Performance of Segmentation
By Type of Warehouses: The warehouse market in Philippines by type consists of General purpose warehouse, cold storage, bonded warehouses and others. General purpose storage accounts for the major market share. The growing export-import trade, retail sector, and industrial production are boosting the demand for general warehouses.
By Sectors: As Filipino customers continue to swarm online marketplaces, e-commerce saw an unexpected rise. There is a growing demand for warehousing in the Philippines as more companies look for warehousing operations or services there. Moreover, the retail industry, the Fast-Moving Consumer Goods (FMCG) industry, the pharmaceutical industry, the garment industry, and the accessory industry have all seen considerable growth in recent years. The e-commerce sector is the most well-known of them.
Future Growth Opportunities
Through various growth opportunities present in the market, there is hope that the Philippine warehousing industry would realize its full potential. Since food imports will continue to be a major factor in the growth of the Philippine cold chain business, growth in 2023 is predicted to reach 10%.
The Philippines cold chain market is anticipated to grow positively in next five years as a result of rising infrastructure spending to enhance connectivity for the cold transport industry, high domestic demand for seafood and meat products, growing attention to ISO and LEED certifications for frozen storages, automation in cold storages through ASRS, WMS, and RFID, and the inclusion of quick or blast freezing services.
Scope of the Study
Makreo research has published a study titled “Philippines Warehousing and Cold Chain Market Size and Outlook to 2028-Market by Type of Warehouses (General purpose warehouse, cold storage, bonded warehouses and others.), By Sectors (eCommerce, manufacturing, Industrial & Retail, Agriculture and others)”. This is a detailed evaluation of the logistics market performance in Philippines that discusses past, present and future outlook of the industry. In recent past industry has experienced many fluctuations due to the external environment thus this study offers analysis of the industry during Pre-COVID-19 period and post COVID-19 scenario. The report shed light upon the demand & Supply gap prevailing in the logistics industry of Philippines and also assess future outlook of the industry.
The report examines the Philippines Warehousing and Cold Chain Market Revenue on various parameters-
By Type of Warehouses:
By Sectors:
Key Questions Answered
Table of Content
Report Synopsis
Key Industry Highlights
Industry Overview
1. Research Methodology
1.1. Objective of the Study
1.2. Research Process
1.3. Analytical Framework
2. Philippines Warehousing Market Performance
2.1. Philippines Warehousing Market : An Overview
2.2. Philippines Warehouse Demand Supply Gap
2.3. Current Lease Rates of Warehouses by Cities as of Mar 2023
2.4. Philippines Warehousing Market: Past & Present Performance
2.5. Philippines Warehousing Market Segmentation : by Type of Warehouses
2.6. Philippines Warehousing Market Segmentation : by Sectors
2.7. Philippines Warehousing Market Revenue and Future Outlook
3. Philippines Cold Chain Market Performance
3.1. Philippines Cold Chain Market : An Overview
3.2. Philippines Cold Chain Market: Demand
3.3. Philippines Lease Rates of Refrigerated Warehouses
3.4. Philippines Load Limit Per Pallet
3.5. Philippines Inbound and Outbound Cargo Expenditure
3.6. Philippines Cold Chain Market Challenges
3.7. Philippines Cold Chain Market Revenue and Future Outlook
3.8. Number of Cold Storage and Warehouse Facilities in Philippines
4. Analyst Recommendations
List of Figures
Philippines Warehousing Market Revenue, 2018-2022
Philippines Types of Warehouse in Terms of Revenue (%), 2022
Philippines Warehouse Market by Sectors in terms of Revenue (%), 2022
Philippines Warehouse Market Forecast, 2023F-2028F
Current Lease Rates of Cold Storage Facilities in the Philippines
Load per Pallet for Commodities that Require Cold Storage Facilities for Preservation
Cost Build-up for Inbound and Outbound Cold Storage in Philippines
Philippine’s Cold Chain Market Revenue and Forecast, 2021-2028F
Market Share of Cold Chain Storage by Cities
Philippine Cold Chain Total Capacity, 2021-2023
Philippine Agriculture Cold Storage Facilities by Cities as of Sep 2021
Philippine Agriculture Cold Storage Facilities by Cities as of Sep 2021