According to a new report by Expert Market Research titled, “India Cold Chain Market Share, Size, Report and Forecast 2024-2032″, the Indian cold chain market size reached a value of INR 1918.86 billion in 2023. Aided by the increasing demand for perishable food products and the growing need for efficient storage and transportation solutions, the market is projected to further grow at a CAGR of 14.3% between 2024 and 2032 to reach a value of INR 6388.55 billion by 2032.
Cold chain logistics involves the transportation and storage of temperature-sensitive products such as food, pharmaceuticals, and chemicals under controlled temperature conditions. It ensures that perishable products maintain their quality and shelf life during the entire supply chain process. The Indian cold chain market encompasses various components, including refrigerated storage, refrigerated transportation, and associated logistics services.
The increasing consumer demand for perishable food products, such as dairy, meat, fruits, and vegetables, is driving the Indian cold chain market growth. With the rising disposable income and changing dietary preferences, there has been a significant shift towards the consumption of fresh and frozen food products. Additionally, the expansion of the organised retail sector and the growing popularity of online grocery shopping have further propelled the demand for efficient cold chain solutions.
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The expanding applications of cold chain logistics in various sectors, particularly in the pharmaceutical and healthcare sectors, also play a significant role in propelling the cold chain market in India. The pharmaceutical sector relies on cold chain solutions for the storage and transportation of temperature-sensitive drugs, vaccines, and biological products.
Moreover, the growing emphasis on reducing food wastage and ensuring food safety has led to an increased focus on the development and expansion of cold chain infrastructure. The government initiatives to support the cold chain sector, including subsidies and financial assistance, have further boosted market growth. Additionally, the adoption of advanced technologies such as IoT, AI, and blockchain in cold chain logistics is enhancing the efficiency and reliability of the cold chain network, consequently driving up the Indian cold chain market share.
The expansion of the pharmaceutical sector is another significant driver of the cold chain market. The pharmaceutical sector requires cold chain logistics for the storage and transportation of temperature-sensitive drugs, vaccines, and biological products. The COVID-19 pandemic has highlighted the critical importance of an efficient cold chain infrastructure for the distribution of vaccines and other medical supplies. The increasing demand for biopharmaceuticals and the growth of the healthcare sector are expected to drive the demand for cold chain solutions in the coming years.
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The Indian government has launched various initiatives to support the development and expansion of the cold chain sector. These initiatives include subsidies, financial assistance, and policy support to encourage private sector investment in cold chain infrastructure. The government’s focus on reducing food wastage and ensuring food safety has further emphasized the importance of an efficient cold chain network. The establishment of dedicated cold chain facilities and the development of integrated logistics parks are expected to boost market growth.
As per the Indian cold chain market analysis, North India is the largest market for cold chain logistics, driven by the high demand for perishable food products and the presence of a well-developed agricultural sector. The region has a significant cold storage capacity and a robust transportation network. South India is a growing market for cold chain logistics, with a focus on the storage and transportation of seafood, dairy, and horticultural products. The region has a well-developed food processing sector and a growing pharmaceutical sector. The cold chain market in East India is growing steadily, driven by the increasing demand for perishable food products and the expansion of the pharmaceutical industry. The region has a significant potential for the development of cold chain infrastructure.
Market Segmentation
The market can be divided based on service, temperature type, application, and region
Market Breakup by Service
• Cold Chain Storage
• Cold Chain Transportation
• Others
Market Breakup by Temperature Type
• Chilled
• Frozen
Market Breakup by Application
• Fruits and Vegetables
• Meat, Fish, and Seafood Products
• Dairy Products
• Processed Food Products
• Healthcare Products
• Others
Market Breakup by Region
• North India
• East and Central India
• West India
• South India
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Indian cold chain market. Some of the major players explored in the report by expert market research are as follows:
• CEVA Logistics SA
• Snowman Logistics Limited
• TCIEXPRESS LIMITED
• GK Cold Chain Solutions
• Coldrush Logistics Pvt. Ltd.
• ColdEX Logistics Pvt. Ltd.
• Gubba Cold Storage Pvt. Ltd.
• Future Enterprises Limited
• Container Corporation of India Limited (Fresh and Healthy Enterprises Ltd.)
• Coldman Logistics Pvt.Ltd.
• Others
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