With rising food production and consumption, India’s existing cold chain infrastructure is falling short in adequately addressing the country’s demand for high-quality fresh food products. Around 40% of the fruit and vegetable produce gets wasted while moving from the grower to consumer. Major factors responsible for this loss are poor cold chain infrastructure and the inadequacies that exist in supply chain. With government bringing cold chain under the ambit of infrastructure sector in 2011-12, the country’s cold chain market is poised to witness significant upsurge in future. Besides storage and transportation of food products, pharmaceutical and chemical industries in India are also creating significant need for cold chain services, including cold stores and temperature controlled vehicles, for transportation of vaccines and other medical products. Rising consumption of meat and meat-based food products is also creating significant need for cold chain expansion in the country. Presently, the cold chain infrastructure in India relies on obsolete technologies, which mandates for its renovation or complete replacement.
According to “India Cold Chain Market Forecast & Opportunities, 2019”, the Indian cold chain market is projected to grow at a CAGR of around 23.88% during 2014 -19, in value terms. Currently, the market is largely unorganized and fragmented with only handful domestic players offering complete food storage and logistics services in the country. However, over the next five years the Indian cold chain market is expected to witness consolidation due to growing private investments, entry of foreign refrigeration and insulation equipment manufacturers in the country, and growing demand for cold storage facilities and logistics from the pharmaceutical industry. Northern India has the highest number of cold storage facilities due to high yield of food crops in states like Punjab, Haryana and Uttar Pradesh, and fruits in Jammu & Kashmir, Himachal Pradesh and Uttarakhand. The government of India has allowed 100% FDI in cold chain market along with several financial incentives and relaxations. These measures are anticipated to drive the cold chain market in India in the coming five years. “India Cold Chain Market Forecast & Opportunities, 2019” elaborates the following aspects related to cold chain market expansion in India:
• India Cold Chain Market Size, Share & Forecast
• Segmental Analysis - Cold Storage and Temperature Controlled Vehicle
• Policy & Regulatory Landscape
• Changing Market Trends & Emerging Opportunities
• Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
• To gain an in-depth understanding of cold chain market in India
• To identify the on-going trends and anticipated growth in the coming years
• To help industry consultants, distributors and dealers align their market-centric strategies
• To obtain research based business decision and add weight to presentations and marketing materials
• To gain competitive knowledge of leading players
• To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with cold chain service providers, equipment manufacturers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.