FiinGroup proudly presents the Vietnam Cold Chain Market Report 2025 - the fifth instalment in our in-depth research series on Vietnam’s cold chain sector. This latest edition offers a comprehensive view of key industry dynamics, combining deep-dive sectoral insights with cross-cutting market trends.

What’s new? The cold chain market has experienced a remarkable resurgence, marked by a 29.6% jump in designed cold storage capacity and the rapid expansion of cold logistics fleets between 2021 and 2024. This momentum is driven by strong investment activity from both local and international players.

The sector staged a solid recovery in 2024, thanks to rebounding demand across major segments: seafood exports, meat imports, modern trade distribution, food catering, fresh produce, dairy, and pharmaceuticals. Notably, the surge in seafood exports and food service consumption played a pivotal role in driving market growth.

This 2025 edition delivers the most up-to-date overview of Vietnam’s cold chain landscape, with market data and operational insights as of December 2024. It also provides forward-looking analysis, identifying key growth drivers and offering supply-demand forecasts through 2028 to support strategic planning for businesses and investors.

What’s new in the 2025 edition:

1. Vietnam’s cold chain demand continued its upward trajectory growth with CAGR2021-2024 of 12.4%, driven by strong momentum in seafood export (+11.9% y.o.y growth), meat imports (+18.1% y.o.y), and rising demand from foodservice, dairy, pharmaceuticals, and fresh produce sectors.
2. The cold chain market in Vietnam was valued at US$202 million in 2024. Between 2021-2024, The Country added 27 new cold storage facilities, boosting the national designed capacity to reach 1.3mn pallets. The cold transportation fleet also expanded gradually, with 1,499 trucks managed by 31 professionally operated providers.
3. The cold storage capacity in Vietnam is expected to exceed 1.7mn pallets by 2028. Cold storage has been emerging as a high-potential real estate segment, attracting strong interest from both local and international investors. The market recorded a 48% surge in cold storage capacity, and with 10 new facilities in the pipeline for 2024-2028, total capacity is expected to surpass 7 million pallets by 2028.
4. Given the recent investment trend, the market experienced a temporary decline in occupancy rate during 2023-2025 period. However, recovery is expected as consistent demand from strategic segments such as seafood exports, retail alongside growing demand from emerging sectors like F&V, pharmaceuticals, etc.
5. Top 10 players continue dominating the market, holding 46.4% market share in cold storage and 75.0% in cold transportation. Key cold storage players include Transimex, Lineage Logistics, Hung Vuong, AJ Total, and Hanaro TNS, while ABA Cooltrans and Dai Tan Logistics lead in transportation.
6. Profitability under pressure in 2023 amid intensified competition and rising operational costs. Net profit margin dropped from 1.6% (2022) to -1.5% (2023) due to aggressive market entry by new players and increased costs (electricity, labor).

More information as well as the table of contents, report preview, and contact person can be found on FiinResearch website as follows:

You can also check out other reports covering key sectors of Vietnam including Cement, Water Supply, Consumer Finance, Banking, Healthcare, Housing Builders, and Plastic etc. on our website: http://fiinresearch.vn

If you would like to obtain the full contents of this Report, kindly direct your request to our Client Advisor at research.support@fiingroup.vn.

Many thanks and kind regards,

FiinGroup