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:
Ankur Gupta, Head Marketing & Communications