Market Trends of Peru Cold Chain Logistics Industry
This section covers the major market trends shaping the Peru Cold Chain Logistics Market according to our research experts:
Pharmaceutical sector growth driving the market
The Peruvian pharmaceutical industry market is extremely competitive, with annual sales exceeding USD 2.2 billion in 2020. The digital transformation is currently having a significant impact on the sector.
In Peru, factors driving the pharmaceutical industry include increased purchasing power, improved access to healthcare and government initiatives to stock up on generic medicines. Composed of a relatively small number of companies, the market is primarily dominated by Inkafarma, Química Suiza, and Boticas Arcángel, local players that have grown rapidly.
The country has over 200 national and transnational laboratories. In addition to laboratories, other important players in the industry include pharmaceutical distributors and pharmacy chains.
To safely distribute the vaccine to remotest corners of the country. Peru has signed an agreement for the air transport of the COVID-19 vaccine in specially equipped planes and containers. Through the United Nations Children's Fund (UNICEF), the Ministry of Health (Minsa) has purchased 10,339 units of refrigeration equipment to improve the cold chain system required to transport and store COVID-19 vaccines throughout Peru. The equipment, primarily electric and solar-powered refrigerators, will be used to preserve and transport vaccines across the country under proper cold-chain conditions, ensuring vaccine quality wherever they go.
Necessity for cold chain logistics by ever growing agricultural sector
Agriculture business contributes close to 7% to Peru's GDP while employing 27% of the total work force. In Peru, a high percentage of the world's fruits and vegetables are exported by farmers and food manufacturers who require a high degree of logistics and transportation support for their perishable products.
Peruvian fruit exports have increased rapidly over the last decade, rising from USD 540 million in 2010 to USD 3.8 billion in 2020, with Peru ranking among the top ten fruit exporting countries. Peru's grapes and blueberries are always in demand across the globe and thus makes the top two agricultural items in country's export list. US and Netherlands are top two destinations for exports of fresh fruits and vegetables from Peru followed by Spain and UK.
Peru is also a major supplier of crops such as asparagus, because of its unique climate. Peru has a window for asparagus exports between November and January, months in which almost no other country exports the product.
With the country's cold chain logistics market still deveoping, there is a lot of room for improvement through which food wastage could be reduced as Peru lost 33% of the food it produced due to lack/mismangement of cold chain in 2018.
