India Cold Chain Market is Expected to Reach INR 470 Billion by 2022: Ken Research
• India cold chain market is unorganized and dominated by traditional cold storage facilities which are majorly dedicated to the storage of potatoes. The cold storage capacity has grown 1.2 times during 2012 to 2017.
• The distribution of cold storages is highly uneven with majority of the cold storages located in Uttar Pradesh, Gujarat, Punjab and Maharashtra.
• Majority of the cold storages are owned and operated by domestic companies. Snowman Logistics is one of the leading players in the industry.
India Cold Chain industry poses a compelling future albeit with challenges. The market will be facilitated by favorable government initiatives and enhancement in technology to improve the quality of storage and transportation facility. The market will witness a transition from traditional cold storages to fully integrated cold chain projects which would bring about efficiency and increased productivity of cold chain companies. Furthermore, with the rising exports of seafood, dairy products and other perishable items, major players will upgrade their facilities in order to store broad variety of products under a wider temperature range.
Favorable government initiative such as subsidy schemes for setting up a cold storage facility and purchasing standalone reefer vehicles and SAMAPADA Scheme will support the development of cold chain infrastructure. Moreover, major dairy companies, retail chains and online grocers such as Amul, Haldiram Group and BigBasket have received federal approval to set up 101 cold chains which will bring in an investment of INR 3,100 crore in the sector. Such developments and growing investment from public and private sector is projected to propel the market revenue.
The cold transport market will be majorly driven by rise in trading activities involving perishable and time sensitive products. The increasing demand for convenience foods, advancements in freezing technology and cold chain logistics will further support frozen food sales. The growth of online grocery stores such as BigBasket, Grofers and rise in e-retail market will create demand for Just in Time cold chain services. With the constant shift in client business, more customized and value-added services are required along with standardized services offerings.
Ken Research in its latest study, “India Cold Chain Market Outlook to 2022 - by Cold Storage & Cold Transport, 3PL, End User Industry (Agro food, Fruits & Vegetables, Fruit pulp & Concentrates, Dairy Products, Ice Cream, Meat, Sea Food, Confectionery, Poultry, Ready to Cook, Pharmaceutical, Industrial Products)”, suggests that demand for multi-purpose cold storage, third party temperature controlled distribution, regional growth and expansion, surge in ambient warehousing revenue will drive the future of cold chain in India.
For more information on the research report, refer to below link:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications
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