Facts and Factors Market Research has published a new report titled “Philippines Warehousing Market By Type (General Warehousing, Agriculture, Cold Storage, Container Freight, and Others) and by End-User (Chemicals & Materials, Food & Beverages, Electronics, Pharmaceutical, Consumer Durables, and Others): Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2027”. According to the report, the demand for the Philippines warehousing market was valued at approximately USD 673 million in 2018 and is expected to reach a value of around USD 1,443 million by 2027, at a CAGR of around 8.8% between 2019 and 2027.
Warehouses are used by manufacturers to store goods in large volumes. These are generally huge buildings that are located in the outskirts of towns and cities. Normally, warehouses have a loading dock that is utilized for unloading and loading of goods. At times, warehouses are designed to unload and load goods directly from seaports, railways, or airports. These often feature forklifts and cranes for moving goods, which have ISO standard pallets on their pallet racks. Warehouses are used to store goods for both long and short periods of time, ranging from a couple of days to months altogether. Warehousing of products for small enterprises is generally done in basements, garages, or storerooms.
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Rapid technology adoption majorly driving the Philippines warehousing market
The adoption of the latest technologies in the Philippines warehouses will be booting the overall Philippines warehousing market in the years ahead. Voice-directed picking, pick to light, and automated guided vehicles are increasingly being adopted by large enterprises across the country. This augmented rate of technological adoption has been witnessed due to the increasing requirement of growing pace in several warehouses that accommodate their distribution centers with efficient systems, space-saving, and faster response times.
In addition, the top-notch services offered by the e-commerce giants today, such as same-day delivery has shifted the focus from conventional warehouses to technologically-advanced and automated warehouses. These automated warehouses come equipped with several value-added services, such as labeling, palletizing, and packaging, to enhance their service offerings by both large- and medium-sized enterprises. Thus, this, in turn, will further drive the Philippines warehousing market in the future.
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General warehousing segment is projected to grow rapidly
With flourishing transportation systems, the growth in the number of warehouses is evident worldwide, particularly for major sea and land trade routes. Additionally, the growing e-commerce sector across the world has made it necessary for online retailers to have huge warehouses for storing products at their major shipping locations. This is driving the general warehousing segment in the Philippines warehousing market. This segment is likely to register a CAGR of 8.9% over the estimated time span.
Food and beverage is likely to be the largest market segment
The food and beverage segment is likely to hold the largest share of the Philippines warehousing market in the years ahead, owing to the increasing worldwide population that is fuelling the rising demand for food and beverages. In 2018, this segment held a 31.06% share in the market.
Metro Iloilo will dominate the Philippines warehousing market
In 2018, Metro Iloilo contributed a 25.5% share, to the overall Philippines warehousing market. This can be attributed to the rising adoption of the latest technologies across the warehouses in Metro Iloilo.
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Key players operating in the Philippines warehousing market are Acuity Management Solutions, Elevate, LexisNexis, BusyLamp, THOMSON Reuters, doeLEGAL, SimpleLegal, Onit, MITRATECH, and Wolters Kluwer ELM Solutions, among others.
This report segments the Philippines warehousing market as follows:
Philippines Warehousing Market: By Type Analysis
- General Warehousing
- Container Freight
- Cold Storage
Philippines Warehousing Market: By End-User Analysis
- Food and Beverages
- Chemicals and Materials
- Consumer Durables
Philippines Warehousing Market: By Region Analysis
- Metro Iloilo
- Rest of Philippines
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