In 2018, China's cold chain market began to move toward clustering and uniting. In this year, many large-scale enterprise acquisitions, mergers, acquisitions, restructurings and upgrades occurred in the cold chain industry. For example, on March 13, SF and Xiahui officially launched a joint venture. Xin Xiahui; June 12, China Merchants Mei Leng, Sinotrans Shanghai Cold Chain and other four companies set up Sinotrans Cold Chain Logistics Co., Ltd.; July 9 Vanke Logistics acquired Taikoo Cold Chain... with the development of cold chain logistics, as cold The cold storage market based on chain logistics is also on the way. According to relevant data, China's cold chain logistics industry will maintain a rapid growth rate of 15-20% per year during the 13th Five-Year Plan period. It is estimated that by 2020, China's cold storage capacity will exceed 50 million tons.
I. Overview of the cold storage market in 2018 - region, scale, rent, supply and demand
1. National overall data
In the data warehouse of Wulian warehouse with more than 250 million resources, the total area of cold storage in 2018 exceeded 6.96 million m2, which is about 4.1 million square meters larger than the total area of cold storage in 2017. The cold storage area accounts for 2.73% of the total warehouse in 2018. The area of cold storage continues to grow, but the total is still insufficient.
In recent years, the income level of Chinese residents has steadily increased, and the demand for food products such as food and medicine has steadily increased. At the same time, fresh e-commerce has grown rapidly with the support of Internet consumption and distribution methods. These factors are driving the demand for cold storage to continue to rise. Therefore, the cold storage market is still tight this year, with high rents and low vacancy rates. According to the data of the IoT Cloud Warehouse, the average rent of the national cold storage in 2018 was 92.31 yuan/m2·month, and the average vacancy rate of the national cold storage was 13.23%.
2, regional data
(1) According to the distribution of cold storage resources, China's cold storage resources are mainly concentrated in East China, Central China and South China, and there are relatively few cold storage resources in Northeast China and Western China. In 2018, the top five provinces/municipalities with the most cold storage resources in Liaoning were Liaoning, Henan, Chongqing, Sichuan, and Guangdong. The cold storage area exceeded 560,000 m2, and Liaoning Province exceeded 1 million m2.
(2) According to the comparison of regional rents, the rents between regions are quite different, with the east high and the low west, the coastal areas high, and the inland areas low. For example, the average rent of Shanghai cold storage is as high as 118.12 yuan/m2·month; the average rent of Changsha cold storage is as low as 61.25 yuan/m2·month.
(3) In terms of vacancy rate, where the supply and demand of the area do not match, the place where the cold storage is needed is difficult to find; the place where there is a cold storage cannot find customers. Supply and demand mismatches are also the main reasons for the large differences in size and price. The vacancy rate of warehouses in Central China, Southwest China, and Northwest China is relatively high, while in North China and East China, it is difficult to find a warehouse.
Second, the characteristics of the cold storage market in 2018
1. The use of old warehouses to rebuild cold storage has increased, and the cold chain logistics enterprises have become the main force of cold storage leases.
According to the introduction of Wulian City Manager, the current domestic cold storage developers, enterprises have more renovation after renting warehouses, some enterprises will also build some large-scale cold storage for their own use, and industrial real estate developers directly build cold storage. The reason for the increase in the use of old warehouses to rebuild the cold storage is that with the expansion of the city, the land price of some cities is expensive, and the construction period of the cold storage is long and the cost is high. Even if the initial funds are sufficient, it is not a wise choice to choose an ideal plot to ignore the land price. The old warehouse is transformed into a provincial investment with a short period.
The owner of the Union of Clouds City also said that the main tenants of the cold storage in 2018 are divided into four categories: first, fresh e-commerce, Jingdong, Tmall, daily excellent and other e-commerce platform enterprises have direct leasing behavior; Retailers, such as Wal-Mart, RT-Mart, etc.; third, wholesalers in the wholesale market; fourth, cold-chain logistics companies, such as the fresh supply chain, nine-trailer, SF cold chain. Among them, the cold chain logistics enterprises have huge demand for cold storage, and they are the main force for leasing cold storage.
2, the cold storage demand standard continues to improve
According to incomplete statistics, in addition to price, warehouse address, and area, the most concerned issues for domestic cold storage tenants in 2018 are: whether the cold storage qualification certificate is sound; the types of items stored in the warehouse (different items may cause astringency); Whether it can be divided; warehouse hardware facilities (whether the refrigeration equipment is good, there is no unloading platform, how big the vehicle can pass, how to fire escape equipment, whether there is any drainage facilities, whether it will rain, whether it will accumulate water, etc.); In the cold storage warehouse, the cold storage party is also required to provide simple value-added services such as zero-removal, labeling and sorting...
3. Frequent cold storage accidents, highlighting safety issues
In 2018, there were more than 10 cold storage accidents reported by authoritative media (the specific accidents are shown in the following table). It is not difficult to see from the table that many cold storage fire accidents are caused by ammonia leakage, litter fire, wire falling off, cold storage all year round, disrepair, illegal operation, etc., and these reasons reflect that the company is Cold storage security awareness is weak and lacks effective means.
4. Policies promote the expansion and upgrading of cold storage
At the beginning of 2018, the cold chain logistics development plan (2018-2020) was successively introduced in various places. Several policy documents mentioned the structural adjustment of the planning and layout of cold storage and cold chain facilities, and increased the total capacity of cold storage to meet new demand. . It is predicted that the total capacity of China's cold storage will further increase in the next three years. At the same time, due to many cold storage accidents this year and the occurrence of the Beijing Daxing cold storage incident in November 2017, local governments have also continuously strengthened the supervision of cold storage. For some non-compliance or waste cold storage, the demolition and rectification will be carried out, and the future cold storage market will be in policy. Guided transformation and upgrade.
5, the cold storage market began to move towards the cluster
In 2018, there were many large-scale enterprise acquisitions, mergers, acquisitions, reorganizations and upgrades in the cold chain market. As the infrastructure of the cold chain, as the cold chain enterprises become integrated, the cold storage resources will also be clustered, and a new pattern will emerge in the future cold storage market.
Third, the development trend of the cold storage market in 2019
1. The pain points are still limited, such as limited technology and lack of uniform standards in the industry. Technology and standardization are the trend.
Due to the late start of China's cold chain industry development, there is still a big gap in technology from the international level, and the non-uniformity of standards in all aspects of the cold storage industry has led to the overall inefficiency of the cold chain storage chain and the high operating costs of enterprises. In order to solve the pain points in the industry, the government promulgated a series of policies in 2018. For example, in April 2018, the Department of Market Construction of the Ministry of Commerce and the Ministry of Services of the National Standards Committee jointly promoted the standardization of agricultural product cold chain circulation; in March 2018, China The Central Committee of the Association for the Promotion of Democracy issued the "Proposal on Accelerating the Commercialization of Fruit and Vegetable Production and the Innovation of Cold Chain Logistics to Promote the Development of Modern Fruit and Vegetable Industry", proposing to strengthen the construction of scientific and technological teams and supporting conditions, and improve the commercial processing and cold chain logistics of fruit and vegetable production areas. Technological innovation capabilities and so on. “Rome was not built in one day.” It is believed that the technological development and standardization of the cold storage industry in 2019 is still one of the priorities of the government.
2, product quality requirements are strict, comprehensive cold storage is the trend
In the food fresh food industry, there is a clear general trend that in addition to fresh foods that can be safely delivered to consumers, consumers will be concerned about the freshness of food fresh, the loss of nutrition, the taste and texture. Both are increasingly sensitive and demanding, which in turn drives the cold storage of the entire food cold chain source from a single temperature zone to a comprehensive cold storage that maintains multiple temperature zones.
3, cold storage energy consumption increased, energy saving, environmental protection is the trend
As we all know, cold storage is a large energy consumer. Some data indicate that an increase of 0.1 mm in the oil film in the evaporator will cause the evaporation temperature to drop by 2.5 ° C and the power consumption to increase by 11%. If there is oil film or scale in the condenser, frost on the surface of the evaporator will cause the evaporation temperature to drop and the power consumption to increase. In recent years, the state has promoted energy conservation and environmental protection policies in various fields. At the same time, with the continuous improvement of the people's ideology, the concept of “energy saving” and “green” has been increasingly valued. Therefore, the energy saving and environmental protection of cold storage will also become an inevitable trend in the development of the cold storage industry.
4. Industry profits are low, and future capital is dominant
As far as the current cold storage market is concerned, due to the increasingly difficult land acquisition, the construction cost of cold storage is high, the government's requirements for cold storage hardware facilities are constantly improving, and the transparency of the cold storage industry is high, which ultimately leads to low profit in China's cold storage industry. There is no industry "unicorn", but professionals say that in the future, who can stick to the end, mainly capital-led.
The above is the interpretation of the cold storage market in 2018. It is not difficult to see that with the development of fresh e-commerce and cold chain logistics industry, the scale of China's cold storage is constantly expanding in 2018, and each region is also striving to develop the cold chain industry. Jiner, but China's cold storage market still has insufficient cold inventory, large regional price differences, unbalanced distribution of cold storage resources, and imperfect construction of cold storage facilities and equipment. We will wait and see how China's cold storage market will develop in the future.
Source: IoT Cloud Warehouse