According to a new report by Expert Market Research titled, “India Cold Chain Market Growth, Size, Share, Report and Forecast 2024-2032″, The India cold chain market size reached a value of nearly INR 1918.86 billion in 2023. Aided by the increasing demand for processed and frozen foods, the market is further expected to grow at a CAGR of 14.3% over the forecast period of 2024-2032 to attain a value of INR 6388.55 billion by 2032.
The India cold chain market refers to the supply chain system that involves the transportation, storage, and distribution of perishable products under controlled temperatures, ensuring that their quality and safety are maintained from point of origin to consumption. This system is crucial for various sectors, including agriculture, pharmaceuticals, dairy, meat, and seafood, which require temperature-sensitive environments to preserve product integrity. The cold chain market in India plays an increasingly vital role in the country’s economy as it supports the growing need for efficient logistics and food preservation, especially with the expanding middle class and increasing consumer demand for perishable goods.
In recent years, the India cold chain market has experienced substantial growth, largely driven by advancements in technology, infrastructure development, and the rising need for organized food retail. The increasing demand for processed and frozen foods, along with the growing pharmaceutical sector, has fueled the market’s expansion. As India’s economy modernizes and consumer lifestyles evolve, the consumption of perishable goods has increased, necessitating the development of robust cold chain infrastructure. With a growing awareness of food safety standards, there is a notable shift towards improving cold chain logistics to reduce food wastage, a key concern in the Indian agricultural sector. These market trends are pushing both government and private stakeholders to invest heavily in cold chain infrastructure, which is expected to drive the market growth significantly in the coming years.
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One of the primary factors driving the India cold chain market demand is the rising consumption of perishable food products, such as fruits, vegetables, dairy, and meat, which require temperature-controlled storage and transportation. As disposable incomes increase and urbanization continues, Indian consumers are demanding a wider variety of fresh and processed food products, including frozen foods and ready-to-eat meals. The food and beverage sector has been rapidly expanding to cater to this demand, and the cold chain market has become a critical part of the supply chain to maintain product quality. In addition, the government’s push towards doubling farmers’ incomes has led to initiatives aimed at improving cold storage facilities to minimize post-harvest losses, thereby supporting market development. By enhancing cold chain capabilities, farmers can extend the shelf life of their produce, enabling them to reach larger markets and achieve better prices for their goods.
The pharmaceutical industry is another major sector driving the India cold chain market expansion. With the rise in the production and distribution of temperature-sensitive vaccines, medicines, and biological products, the need for advanced cold chain logistics has become crucial. This trend was particularly evident during the COVID-19 pandemic, when the distribution of vaccines required strict temperature-controlled conditions, highlighting the importance of cold chain infrastructure. The pharmaceutical cold chain market is expected to continue its growth, especially as India emerges as a global hub for vaccine production and distribution. The ongoing investment in research and development in biologics, coupled with the increasing demand for biologic drugs, is also expected to fuel market demand for cold chain logistics in this sector.
Technological advancements are playing a pivotal role in increasing the India cold chain market value. Innovations in refrigeration technologies, real-time tracking systems, and Internet of Things (IoT)-based solutions are transforming the way cold chain operations are managed. These technologies enable better monitoring and management of temperature-sensitive goods throughout the supply chain, ensuring optimal conditions are maintained at all stages. The adoption of IoT in cold chain logistics allows for real-time data collection on temperature, humidity, and other critical factors, providing greater visibility and control over the entire process. This technological shift is not only improving efficiency but also reducing operational costs, further boosting market value.
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Despite the positive trends, the India cold chain market growth may be impacted by certain challenges. One of the most significant challenges is the high capital investment required to establish and maintain cold storage facilities and transportation systems. Cold chain infrastructure, particularly for deep-freeze storage and long-distance refrigerated transportation, demands substantial investment in technology, energy, and skilled labor. The operational costs associated with running cold chain facilities, particularly in remote areas with inadequate electricity supply, can also be prohibitive for smaller market players. These cost barriers can slow down market expansion, particularly in rural and semi-urban regions, where the cold chain infrastructure is less developed.
Another challenge is the fragmented nature of the cold chain market in India, with a large portion of the market dominated by unorganized players who lack the scale and resources to adopt advanced technologies. While organized players are expanding their presence in metro cities and urban centers, rural areas, where a significant portion of perishable goods are produced, still suffer from inadequate cold chain infrastructure. The lack of integrated cold chain networks that connect rural production areas with urban consumption centers is a significant bottleneck in the India cold chain market development. However, with increasing government focus on public-private partnerships and the development of cold chain infrastructure under various initiatives, the market is expected to overcome these challenges in the near future.
Government initiatives aimed at boosting cold chain infrastructure in India are also shaping the India cold chain market trends. Programs like the Pradhan Mantri Kisan SAMPADA Yojana and various subsidies for cold storage facilities and refrigerated transport vehicles are helping to accelerate the development of cold chain networks. These initiatives are designed to reduce food wastage, improve farmer incomes, and promote exports of perishable goods. Additionally, the push towards improving agricultural logistics through cold chain development is aligned with the government’s broader goals of reducing post-harvest losses and ensuring food security. These policy measures are expected to have a positive impact on market growth, especially in rural and semi-urban regions where cold chain infrastructure is currently underdeveloped.
Market Segmentation
The India cold chain 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 India 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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