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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

Region:Africa

Author(s):Hitesh Vij

Product Code:KR1225

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Published on

November 2022

Total pages

75

Table of Content

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About the Report

About the Report

The report “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 provides a comprehensive analysis of the potential of Cold Chain industry in Nigeria. The report also covers overview and genesis of the industry, market size in terms of revenue generated ; market segmentation by Cold Warehousing Pallet Size, by Cold Warehousing End-Users, by Geography, by Mode Of Transport, by Type of Freight, by Cold Transportation End-User; Trends and drivers, challenges and issues, Decision Making Process and Parameters; SWOT analysis; Strengths and Weaknesses; regulatory framework; end user analysis, Competitive Landscape; including competition scenario, market shares of major players present across South Africa. The report concludes with future market projections and analyst recommendations.

Detailed Analysis on the Nigeria Cold Chain Market:

Nigeria is experiencing a huge demand in the Cold Chain market due to rise in import for the cold chain commodities, high waste of food, requirement for vaccines and medicines because of the pandemic. With the development of Infrastructure like LAKAJI Agricultural growth corridor and Lekki Sea-Port, the efficiency of the logistics traffic will significantly increase, and with 42 Free Trade Zones in Nigeria where companies can import and export without being subject to the usual customs and tax, it will also boost the logistics industry significantly. With the Improvement of pharmaceutical cold chain, existing players like Zenith Carex are investing to increase their presence in pharma-logistics by adopting new technologies like Internet of Things Censors, Platooning Technologies, RFID tagging, Automated Storage and Retrieval System etc. The Cold Chain Market is Experiencing high growth rate. The market is still expected to grow in double digit in future, so there is a huge potential in the Nigeria Cold Chain Market.

Nigeria Cold Chain Market Segmentations:
  • By Cold Warehouse
  • By Cold Transportation
Nigeria Cold Warehouse Market Segmentation:
  • By Pallet Size ,2021 & 2026F:
The Ambient segment is the largest segment in the cold warehousing market as Compared to Chilled and frozen. It is forecasted to maintain its share in future. The ambient pallets are used to store vegetables and fruits and, they are a part of the staple diet of the country. Cold Warehousing significantly reduces wastage in this segment.
  • By Geography, 2021 & 2026F:
Lagos State is the largest segment with the majority share of the overall market. Lagos holds such a large share because it is one of the most populous cities in Nigeria. Secondly, it is one of the largest cities along the LAKAJI corridor and one of the best cities to set up cold chain operations and in proximity with the Lagos port complex which is a major export and import hub.
  • By End-User, 2021 & 2026F:
The Meat and Seafood is the largest segment in the cold warehousing market. It is forecasted to decrease slightly over the next 5 years. The meat and seafood, and fruits and vegetables together, are forecasted to make up the majority of the total market. This is because meat and vegetables together, form the staple diet of Nigerians, and the cold chain systems significantly reduce the losses and increase the life of food in these segments. The emergence of start-ups like cold hubs which partner with farmers and are highly focused on food cold chain, has given a boost to the segment.
Nigeria Cold Transportation Market Segmentation:
  • By Mode of Transport, 2021 & 2026F:
The land segment is the largest segment in the cold transportation market during 2021-2026F. It is estimated, this segment will grow in the upcoming years, this is driven by increased refrigerated transport of fruits and vegetables, dairy products, and more.
  • By Type of Freight, 2021 & 2026F:
The international segment dominates the Cold Transportation market during 2021-2026F.It is driven by refrigerated transport of pharmaceutical products like medicines and with the creation of central and zonal hubs for storage of the vaccines. Apart from the government just a handful players like TranEX and Zenith Carex serve the pharmaceutical industry. The presence of just a few competitors coupled with the scarcity of capital, and the necessity of high investment to set up pharmaceutical cold chain operations, together make up a feasible opportunity for a new entrant to enter in the space.
  • By End-User, 2021 & 2026F:
Meat and Seafood dominates the market with majority share of the overall market. It is followed by vegetables and fruits, and pharmaceuticals respectively. The vegetables and meat segment are driven by increased adoption of cold transport systems by locals. New Start-ups such as Cold Hubs collaborate with Farmers by installing a cold storage unit in small farm clusters that are solar or propane powered.
Competitive Landscape in Nigeria Cold Chain Market:
Nigeria Cold Chain Market is in nascent stage due to lack of investment and a smaller number of players to cater to the overall end user’s need. There is a strong opportunity for new international players with access to capital to enter in the market. Major playersinclude MDS, Zenith Carex, Cold Hubs. Other players in the market includes TranEX, red Star, KCCL, Wigmore Trading, Flux Logistics. The cold chain companies in Nigeriaoffer a plethora of services under one roof. Along with providing cold storage and transportation facilities they provide value-added services like packaging, labeling, batch separation, film-stretch application, palletizing, cross-docking, inventory management, documentation for exports, loading, unloading, and distribution among others. Companies in Cold Chain Market in Nigeria are competing based on Location, Price, Temperature Range, Product Range, Warehouse Infrastructure, IT Capabilities, Total Serviceable Locations.

Nigeria Cold Chain Market Future Outlook and Projections:

Nigeria Cold Chain Market is Expected to grow at a CAGR in double digits between 2021 and 2026F, one of the major determinants for the surging growth in coming years is the development of infrastructure, Improvement of pharmaceutical cold chain, Government Efforts and big Investments like, Triple I, an investment fund that invests in Sub-Saharan businesses to drive social impact decided to make an investment in the cold chain industry of Nigeria. The president of Organization for Technology Advancement of Cold Chain in West Africa, has recently urged all the state(s) and federal governments to invest in cold chain to reduce food wastage.
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 (Space, Revenue, Price, Occupancy rate)
  • By Pallet Size (by Revenue & Price), 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)
Key Target Audience
  • Cold Transport Companies
  • Warehousing Companies
  • Pharmaceuticals
  • Food & Vegetables Providers
  • Meat & Seafood Providers
  • Dairy products Companies
  •  Governments 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
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

Products

Products

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 (Space, Revenue, Price, Occupancy rate)

  • By Pallet Size (by Revenue & Price), 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)

Key Target Audience

  • Cold Transport Companies
  • Warehousing Companies
  • Pharmaceuticals
  • Food & Vegetables Providers
  • Meat & Seafood Providers
  • Dairy products Companies
  •  Governments and Institutions

Time Period Captured in the Report:

  • Historical Period: 2016-2020
  • Base Year: 2021
  • Forecast Period: 2022– 2026F


Companies

Companies Covered:

  • MDS Logistics
  • Zenith Carex
  • TranEX
  • Red Star
  • Cold Hubs
  • Kenie-O-Cold Chain Logistics
  • Wigmore Trading
  • Flux Logistics

Table of Contents

Table of Contents

1. Executive Summary

1.1   Executive Summary of the Nigeria Cold Chain Market Report

2. Country Overview of Nigeria Cold Chain Market

2.1.  Overview of Nigeria – Economy, and Demographics

3. Market Overview of Nigeria Cold Chain

3.1.   Executive Summary of Nigeria Cold Chain Market

3.2.   Value Chain of Nigeria Cold Chain

3.3.   Ecosystem of Major Entities in Nigeria Cold Chain Market

3.4.   Current Technologies in Nigeria Cold Chain Market

3.5.   Current Solar-based Technologies in Nigeria Cold Chain Market

3.6.   Cross Comparison of Technologies in use in Nigeria Cold Chain Market

3.7.   Emerging Technologies in Nigeria Cold Chain Market

4. Logistics Infrastructural Analysis of Nigeria

4.1.   Infrastructure: Airports

4.2.   Logistics Infrastructure: Road Network

4.3.   Logistics Infrastructure: Sea-ports

5. Nigeria Cold Chain Market Size and Segmentations

5.1.   Genesis of Nigeria Cold Chain Market

5.2.   Cold Chain Market Size by Revenue, 2016 – 2021P

5.3.   Nigeria Cold Warehousing Market Size, 2016 – 21P

5.4.   Nigeria Cold Warehouse Market Segmentation, 2016-21P

5.5.   Nigeria Cold Transportation Market, 2016-21P

5.6.   Nigeria Cold Transportation Market Segmentation, 2016-21P

5.7.   Nigeria Cold Chain Market Segmentation by Type of End Users and Domestic/ International Freight

5.8.   Demand Push by Growth in End User Industries

5.9.   COVID Impact on Cold Chain Industry of Nigeria

6. Industry Analysis of Nigeria Cold Chain Market

6.1.   Trends and Developments in Nigeria Cold Chain Market

6.2.   Issues and Challenges

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

6.4.   Decision Making Parameters for selecting a logistics partner in Nigeria

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

6.6.   Government Regulations/Guidelines and Associations in Nigeria Logistics Service Market

7. Competition Landscape

7.1.   Nigeria Cold Chain Industry Competitive Landscape.

7.2.   Strengths and Weaknesses of Major Players in Nigeria Cold Chain`

8. End User Potential in Nigeria Cold Chain Industry

8.1.   Major Product Categories in Nigeria Cold Chain Market

8.2.   End-User Potential in Nigeria Cold Chain Market

8.3.   Strategic FTZ (Free Trade Zones) Locations to Drive Cold Storage Demand

9. Future Market Outlook and Segmentations for Nigeria Cold Chain Market

9.1.   Nigeria Cold Chain Market Future Market Size, 2022-26F

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

9.3.   Cold Transportation Segmentation, 2022-26F

9.4.   Cold Storage Future Market size by Revenue and Segmentation, 2022-26F

9.5.   Cold Storage Segmentation, 2022-26F

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

10. Analyst Recommendation

10.1  Analyst Recommendations for Success in Nigeria Cold Chain Market

10.2  Success Case Study: Cold Hubs

11. Research Methodology

11.1   Market Definitions

11.2   Glossary Definitions

11.3   Abbreviations

11.4   Market Sizing Approach

11.5   Sample Size Inclusion

11.6   Primary Research Approach

11.7   Research Limitation

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