The report titled “Cold Chain Market in India 2023-2028” has been added to ResearchAndMarkets.com’s offerings. This comprehensive analysis highlights the significant growth Report trajectory of the cold chain market in India, driven by increasing demand for efficient storage and transportation of perishable goods. According to the report, the Indian cold chain market is projected to reach a value of INR 5.09 trillion by the forecast period of 2024-2029, expanding at a robust compound annual growth rate (CAGR) of approximately 16.43%.
Importance of the Cold Chain Market in India
The cold chain sector in India plays a pivotal role in mitigating post-harvest losses and ensuring the safety and quality of perishable items during storage and transportation. With rising demand for processed foods, pharmaceuticals, and dairy products, the cold chain infrastructure is becoming increasingly essential. Government Report initiatives such as the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and other policy-driven programs are instrumental in propelling the sector’s growth. These efforts aim to improve supply chain efficiency, enhance farmers’ incomes, and reduce wastage.
Government Support and Infrastructure Development
A significant contributor to the cold chain market’s rapid expansion is the government’s focus on infrastructure development. The Integrated Cold Chain and Value Addition Infrastructure Scheme has approved 372 projects, resulting in over 38 million metric tons of storage capacity and the creation of approximately 223,000 jobs. Furthermore, rising urbanization and the exponential growth of e-commerce have increased the demand for temperature-controlled solutions, particularly for processed foods, frozen goods, and vaccines. Technological advancements such as IoT-based monitoring systems and automated warehouses are further enhancing operational efficiency and attracting investments in the sector.
India Cold Chain Market Report 2023-2028 Energy-Efficient Refrigeration Driving Cost Savings and Growth
Market Segmentation and Insights
The cold chain market in India is broadly segmented into two main categories: cold chain storage and cold chain logistics.
Cold Chain Storage
Cold chain storage involves refrigerated warehouses designed to store perishables such as fruits, vegetables, dairy products, and pharmaceuticals. Under the PMKSY scheme, recent investments emphasize the development of farm-level cold storage facilities to reduce wastage and improve farmers’ earnings. The adoption of automated and temperature-regulated storage facilities is increasing, offering better precision and energy efficiency.
Cold Chain Logistics
Cold chain logistics focuses on the transportation Report of temperature-sensitive goods through refrigerated trucks, containers, and rail services. Government incentives promote the adoption of energy-efficient and insulated transport solutions. Additionally, the surge in last-mile delivery for e-commerce grocery and meal kit services has necessitated advanced logistics systems. This segment ensures seamless connectivity across supply chains, supported by tracking systems that provide real-time visibility and maintain compliance with temperature-sensitive requirements.
Emerging Market Trends
The cold chain market in India is witnessing several transformative trends:
- Renewable Energy Integration: Solar-powered cold storage units and energy-efficient refrigeration systems are gaining popularity, reducing operational costs and environmental impact.
- IoT-Enabled Monitoring: Advanced IoT solutions allow real-time tracking and remote monitoring of temperature-sensitive goods, ensuring better Report compliance and reducing losses.
- Growth in Pharmaceutical Cold Chains: The pharmaceutical sector, particularly in vaccine storage and biologics, presents high-value opportunities. This trend is fueled by the need for specialized cold storage to maintain product Report integrity.
- Rise in Processed and Frozen Food Consumption: Urbanization has led to a surge in demand for processed and frozen foods, prompting increased investments in refrigerated retail chains.
- Geographical Expansion: The focus on expanding cold chain infrastructure to underserved rural areas offers untapped potential. Government subsidies and policies support the development of facilities in challenging terrains.
Major Players and Competitive Landscape
Key industry players such as Snowman Logistics, DHL, and others are actively expanding their footprints to leverage the growing demand for last-mile delivery solutions. These companies are investing in advanced technologies and energy-efficient systems to stay competitive. Additionally, increasing agricultural exports emphasize the need for robust cold chain networks to minimize post-harvest losses and maintain global quality standards.
Future Prospects
The future of India’s cold chain market is promising, with substantial government support and private sector participation. The rising adoption of advanced technologies, coupled with the increasing consumption of temperature-sensitive goods, ensures a steady growth trajectory. By addressing infrastructure gaps and promoting sustainable practices, the Indian cold chain sector is poised to become a global leader in efficient and reliable cold storage and logistics solutions.