Bharat Book Bureau Provides the Trending Market Research Report on “Cold Chain Market in India 2023” under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
In terms of revenue, the Cold Chain Market in India was valued at 1.86 Trn in 2022 and is expected to reach 4.26 Trn by 2027, expanding at a CAGR of ~14.27% during the 2023 – 2027 period. India produces more than 400 million MT of perishables every year (horticultural produce+ dairy+ meat+ poultry + fish). The wastage levels in perishables in India are significantly high- 4.6- 15.9% in fruits, 5.2% in inland fish, 10.5% in marine fish, 2.7% in meat and 6.7% in poultry. Adequate and efficient cold chain infrastructure from farm gate to consumers is required to arrest the high losses in supply chain of perishables.
India’s cold chain network has played an integral part in maintaining the quality of perishables and other temperature-sensitive products. And yet, there are many challenges to ensure the on-time delivery of perishable goods around India.
Many global cooling and logistics companies are stepping up their operations in the cold chain sector in India eyeing the huge potential in a large-sized agriculture driven country, which also happens to be the world’s second-largest producer of grains, vegetables, and fruits. The country’s vast production base, which includes meat, seafood, exotic fruit, and vegetable varieties has a sizable agro-export market as well, with India exporting fruits and vegetables worth INR 160 Bn
Based on market component, India's cold chain market is segmented into cold chain storage and cold chain logistics. As of 2022, the cold chain logistics segment accounted for 55.42% of the total market share. By the end of 2027, the cold chain logistics segment is expected to hold a share of around 55.51% of the overall market. Owing to the constant rise in demand for temperature-controlled storage and transportation from the retail and healthcare industries, the market shares of both the segments are expected to change marginally during the forecast period. Some of the leading players in the market, operating and managing both cold chain storage and logistics operations include Snowman, Kool-ex, Coldstar, Gati Kausar, and DHL Logistics.
Impact of COVID-19:
Unlike most developed countries, cold chain in India has been restricted to secondary and tertiary distribution segments - for movement of goods from factories to CFAs and from there to distributors. This meant that most of the last mile delivery was either done in ambient conditions or with unsafe, unsustainable solutions resulting in product spoilage and wastage. The lockdowns and restrictions that were imposed because of the pandemic also forced many businesses to revise their business models and switch to home delivery solutions. This too called for effective cold chain logistics solutions. The demand was further spiked by increasing consumer awareness and the need to comply with basic quality standards.
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