TechSci Research has reported that the growth of India’s cold chain market is being driven by the expansion of the retail and e-commerce sectors, along with the rising demand for processed food products. This suggests that the market value of the cold chain logistics market in the country is expected to experience a healthy CAGR during the forecast period. Despite being the world’s second-largest producer of fruits and vegetables and the third-largest producer of milk, India experiences significant food and agricultural product loss due to the nascent cold chain supply. To combat this, the cold chain industry needs to grow. Organized food retail expansion and an increase in perishable food production and consumption, as well as rising demand for high-quality items, contribute significantly to the industry’s expansion in India. Additionally, the country’s rapid urbanization and expanding industrialization aid in the sector’s growth. The pharmaceutical business is also a significant industry that relies on a reliable cold supply chain network for the transportation and storage of vaccines, life-saving medications, and other pharmaceutical raw materials.
The expansion of organized food retail as well as the increase in perishable food production and consumption in the country are driving the demand for cold chains. The majority of organized retail businesses are constructing sizable cold chain infrastructures to manage their supply chains effectively. Additionally, the region’s rising taste for processed food items and move toward the production of fruits and vegetables over grain crops considerably contribute to the industry’s expansion.
India s experiencing substantial growth in the demand for high-quality items as a result of rising consumer disposable income and an expanding middle-class population. The expansion of the sector in India is further aided by the country’s rapid urbanization and expanding industrialization.
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The industry is receiving a further boost from the government’s plan to build multiple mega food parks, in addition to favorable laws. The healthcare industry’s growing demand for efficient cold chain facilities to maintain heat-sensitive items, including vaccines, biopharmaceuticals, and clinical trial materials, is driving the industry’s growth. The vaccines, biopharmaceuticals, and clinical trials sectors are predicted to expand, resulting in a significant demand for cold chain logistics. Cold storage is primarily located near industrial areas. Industry insiders claim that small and medium-sized food sellers with minimal refrigeration and freezing equipment account for 57% of India’s USD 630 billion in retail sales. However, as modern retailers with cold storage expand in cities such as Mumbai and New Delhi, the share of smaller companies nationwide is projected to decline to 48% by 2023.
The pharmaceutical and clinical trial industries in India are booming. India has emerged as the largest generic medication maker and supplier of 50% of the world’s vaccinations, with over 3,000 pharmaceutical businesses operating at over 10,000 production facilities. Pharmaceutical commodities are particularly sensitive to changes in temperature and the passage of time, therefore maintaining a cold chain is essential for this sector. The cold chain is greatly needed in the current situation when the safe supply of vaccines for mass vaccination against COVID-19 is of the utmost importance.
The cold chain segments have lately come into prominence as a result of the expansion of organised 3PLs, QSR, retail, e-commerce, and the food service sectors as a result of shifting consumer habits. To effectively manage their supply chains, companies must first establish a robust cold chain infrastructure since consumers today expect a wide range of fresh produce, including fruits, vegetables, dairy goods, meat, and poultry items. The current tendency is to create multifunctional cold storage and offer end-to-end services throughout the value chain.
To capitalize on growing consumer buying power and evolving consumer tastes, multinational corporations have recently started focusing on the Muslim market. For instance, The region countries include , Malaysia, Myanmar, Brunei, and India. Muslims make up more than 260 million people globally, with the majority residing in Singapore, Malaysia, the Philippines, Indonesia, India, Myanmar, and Brunei. Islamic travel, food, apparel, and cosmetics have gained popularity as a result of the numerous halal lifestyle events and campaigns that have taken place in the area during the past ten years.
Based on application type, the market is divided into seafood, meat, fruit & vegetable, dairy products, alternative protein, and others. The fruits & vegetables and dairy products application type is dominating with a healthy market share and is expected to maintain its dominance during the forecast period. India is currently the second-biggest producer of fruits and vegetables and the greatest producer of milk. Additionally, the region produces a significant amount of beef, poultry, and marine goods. These goods need a certain temperature for storage and transit because the majority of them are perishable and temperature sensitive. As a result, it is expected that the cold chain logistics industry is expected to grow during the forecast period.
Key market players in the India Cold Chain Logistics Market include:
- Gati Kausar India Pvt. Ltd.
- Snowman Logistics Pvt. Ltd.
- ColdEX Limited
- Stellar Value Chain Solutions Pvt. Ltd.
- Future Supply Chain Solutions Limited
- Schedulers Logistics India Pvt. Ltd.
- Gubba Cold Storage Pvt. Ltd.
- Kailash Agro Cold Storage
- Deccan cold storage I Pvt. Ltd.
- Dev Bhumi Cold Chain Pvt. Ltd.
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“The modernization of logistics has assisted the growth of the refrigerated logistics sector. The demand for cold chain logistics increased unexpectedly in India between 2020 and 2021. The need for cold storage and transportation has risen as a result of the growing urban population and changing customer preferences. Overall, it is expected that India’s cold chain capacity would expand steadily over the future years and increase at a very high CAGR throughout the forecast period. The market is anticipated to organize itself better and engage in more institutional investment. Built-to-suit assets with improved architectural requirements, variety in cold storage products catering to higher-value commodities, and usage of sustainable solutions for lowering operational costs are possible future trends in this industry. Therefore, these factors are expected to fuel the market growth of the India Cold Chain Logistics Market during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Cold Chain Logistics Market, By Service Type (Refrigerated Warehouse, Refrigerated Transportation), By Application (Seafood, Meat, Fruit & Vegetable, Dairy Products, Alternative Protein, Others), By Temperature Type (Frozen, Chilled), By Technology (Dry Ice, Gel Packs, Eutectic Plates, Liquid Nitrogen, Quilts), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of India Cold Chain Logistics Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Cold Chain Logistics Market.
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