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Demand to soar for cold storage
By Cao Qian |
September 16, 2009, Wednesday
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Print Edition
Print Edition
CHINA'S market for refrigerated warehouses is expected to grow by about 24 percent for each of the next five years amid a thriving consumer market and food-export sector, real estate services provider Jones Lang LaSalle predicted yesterday.
A change in eating habits and heightened awareness of food safety standards are boosting domestic demand for cold storage logistics, a report by the company said.
"China's cold chain market is seriously underdeveloped,'' said Stuart Ross, head of industrials for Jones Lang LaSalle's China operation. "It's estimated that only 15 percent of products that should be temperature-controlled are now handled properly.''
Inadequate regulations and underdeveloped infrastructure are to blame for the gap, industry analysts said.
On a state level, instead of having a dedicated department overseeing the cold chain logistics industry, the market is now supervised by a multitude of authorities.
Too few quality refrigerated vehicles, railcars and containers and a relatively low stock of refrigerated warehouse space have also hindered development of the industry.
In China, the per capita stock of refrigerated warehouse space stood at only 0.01 cubic meter in 2008, compared with 0.29 cubic meter in Australia, 0.23 cubic meter in the United States and 0.22 cubic meter in Japan, according to the International Association of Refrigerated Warehouses and the China Statistics Year Book.
"The change of eating habits by Chinese people is closely related to the country's economic growth,'' Maggie Zhou, who has been working for a Denmark-based meat exporter for more than five years, told Shanghai Daily.
"Demand for frozen meat products, dairy products and other foods is set to increase as the Chinese, like people in developed countries, eat more animal protein as their incomes rise,'' she said.
In anticipation of more robust demand, an increasing number of players have already begun to look for opportunities in China, the world's fastest-growing consumer market for perishable food and pharmaceutical products.
Preferred Freezer Services, a US-based cold storage specialist, kicked off construction in July on a refrigerated warehouse in Shanghai's Lingang Logistics Park.
A change in eating habits and heightened awareness of food safety standards are boosting domestic demand for cold storage logistics, a report by the company said.
"China's cold chain market is seriously underdeveloped,'' said Stuart Ross, head of industrials for Jones Lang LaSalle's China operation. "It's estimated that only 15 percent of products that should be temperature-controlled are now handled properly.''
Inadequate regulations and underdeveloped infrastructure are to blame for the gap, industry analysts said.
On a state level, instead of having a dedicated department overseeing the cold chain logistics industry, the market is now supervised by a multitude of authorities.
Too few quality refrigerated vehicles, railcars and containers and a relatively low stock of refrigerated warehouse space have also hindered development of the industry.
In China, the per capita stock of refrigerated warehouse space stood at only 0.01 cubic meter in 2008, compared with 0.29 cubic meter in Australia, 0.23 cubic meter in the United States and 0.22 cubic meter in Japan, according to the International Association of Refrigerated Warehouses and the China Statistics Year Book.
"The change of eating habits by Chinese people is closely related to the country's economic growth,'' Maggie Zhou, who has been working for a Denmark-based meat exporter for more than five years, told Shanghai Daily.
"Demand for frozen meat products, dairy products and other foods is set to increase as the Chinese, like people in developed countries, eat more animal protein as their incomes rise,'' she said.
In anticipation of more robust demand, an increasing number of players have already begun to look for opportunities in China, the world's fastest-growing consumer market for perishable food and pharmaceutical products.
Preferred Freezer Services, a US-based cold storage specialist, kicked off construction in July on a refrigerated warehouse in Shanghai's Lingang Logistics Park.
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