|
Forecast
Period
|
2025-2029
|
|
Market
Size (2022)
|
USD
4701 Million
|
|
CAGR
(2024-2029)
|
17.04%
|
|
Fastest
Growing Segment
|
Fruit
& Vegetable
|
|
Largest
Market
|
North
India
|
Market Overview
India Cold Chain Storage and Logistics Market has
valued at USD 4701 Million in 2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 17.04% through 2029. As the country
experiences rapid economic growth and urban migration, the demand for robust
infrastructure and modern urban living spaces has increased. Urbanization is a
defining phenomenon, with millions of individuals relocating from rural areas
to cities in search of better employment opportunities, education, and improved
lifestyles. This mass movement has led to an increased need for housing,
transportation networks, healthcare facilities, and educational institutions.
Also, the government's various mission reflects this shift, aiming to transform
numerous cities into technologically advanced, sustainable, and livable urban
centers. This initiative encompasses a wide spectrum of projects, from building
efficient public transportation systems and waste management solutions to
creating green spaces and digital infrastructure. All these endeavors are
underpinned by the pivotal role of Cold Chain Storage And Logistics as a
primary construction material. The Cold Chain Storage And Logistics market was
negatively impacted due to the COVID-19 pandemic, which resulted in decreasing
demand across the construction industry and the closing of various
manufacturing facilities. However, the market is recovering gradually and is
likely to reach pre-COVID levels soon.
Over the short term, the growing residential
constructions across the Asia Pacific region and the growing infrastructural
activities in the Middle East and Africa region are some of the driving factors
which are fueling the market demand. Moreover, the abundance availability of
raw materials, such as fly ash, is also expected to drive the market forward.
However, government regulations on carbon emissions
from Cold Chain Storage And Logistics manufacturing plants are hindering the
market's growth.
Nevertheless, the shifting preference towards green
construction and encouraging performance of HBC (High Belite Cement) in China
are likely to provide opportunities to the market studied.
Key Market Drivers
Growing Demand for Perishable Goods will help in
Cold Chain Logistics Market growth.
The growing demand for perishable goods is a
significant driver propelling the expansion of the global cold chain logistics
market. This trend reflects evolving consumer preferences and lifestyle changes
that prioritize fresh, high-quality, and perishable products. As consumers
increasingly seek out fresh produce, dairy, meat, seafood, and pharmaceuticals,
the need for a robust and efficient cold chain logistics system has become
paramount. One of the primary factors contributing to this heightened demand is
the rising global population. As more people inhabit urban areas and live
busier lives, the demand for convenient, ready-to-consume perishable goods has
surged. Consumers now expect these products to be readily available, regardless
of the season, and delivered to their doorsteps in optimal condition. Cold
chain logistics is the backbone of this convenience-driven supply chain. The
pharmaceutical and healthcare industries are also significant contributors to
the growing demand for cold chain logistics. Many medical products, including
vaccines, biologics, and certain medications, are highly temperature sensitive.
The need for precise temperature control and monitoring throughout the entire
distribution process is critical to maintaining the efficacy and safety of
these products.
Furthermore, the expansion of e-commerce,
accelerated by the COVID-19 pandemic, has boosted the demand for cold chain
logistics. Online grocery shopping and meal kit delivery services require
efficient cold storage and transportation to ensure that perishable items
arrive fresh and safe. This trend is likely to continue as more consumers opt
for the convenience of online shopping. To meet these escalating demands, the
cold chain logistics industry has undergone significant technological
advancements. IoT sensors, RFID tracking, and real-time temperature monitoring
systems have become standard tools to maintain product integrity. These
technologies provide end-to-end visibility into the supply chain, enabling
better control and rapid response to any temperature deviations. In conclusion,
the growing demand for perishable goods, driven by population growth, changing
consumer preferences, and the expansion of e-commerce, is a powerful driver
fueling the global cold chain logistics market. As long as consumers continue
to prioritize fresh and temperature-sensitive products, the importance of an
efficient and reliable cold chain logistics system will remain indispensable to
the modern supply chain.
Globalization of the Food Supply Chain Have Played
a Crucial Role in The Growth of The Cold Chain Logistics Market
The globalization of the food supply chain is
poised to be a major driving force behind the growth of the global cold chain
logistics market. This phenomenon reflects a fundamental shift in how food is
sourced, processed, and distributed on a global scale. As consumers' tastes
become more diverse and demanding, and as emerging markets open up to a wider
array of food products, the need for efficient and reliable cold chain
logistics has never been more critical. One of the primary drivers of this
trend is the consumer's increasing appetite for fresh and perishable goods
year-round, regardless of season or geographic location. Tropical fruits,
seafood, dairy products, and exotic vegetables are just a few examples of
products that have become staples in households worldwide. To meet this demand,
the food industry has become a global enterprise, with products moving across
continents and oceans. As a result, the cold chain logistics market is
experiencing unprecedented growth. Cold chain logistics encompass the storage,
transportation, and distribution of temperature-sensitive products, ensuring
that they maintain their quality, safety, and nutritional value throughout
their journey from producer to consumer.
The globalization of the food supply chain brings
with it several key challenges that only cold chain logistics can address
effectively. These challenges include maintaining precise temperature control
across long distances, compliance with varying international regulations, and
the need for sophisticated tracking and monitoring systems to guarantee product
integrity. Moreover, the COVID-19 pandemic has further underscored the
importance of robust cold chain logistics, especially in the rapid distribution
of vaccines and medical supplies worldwide. In response to these challenges,
the cold chain logistics industry has seen significant technological
advancements, including the use of IoT sensors, RFID tracking, and real-time
temperature monitoring systems. These technologies enhance visibility,
traceability, and efficiency within the supply chain, providing both businesses
and consumers with greater confidence in the safety and quality of products. In
conclusion, the globalization of the food supply chain is a powerful driver
behind the growth of the global cold chain logistics market. As consumers
continue to demand fresh and perishable products from around the world, the
need for efficient, reliable, and technologically advanced cold chain logistics
solutions will only intensify, making this sector a critical component of the
modern global economy.
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Key Market Challenges
Temperature Maintenance
The ability to maintain precise temperature control
throughout the entire supply chain is a critical challenge that poses a
significant threat to the global cold chain logistics market. Temperature
maintenance is the linchpin of this industry, as it directly impacts the
quality, safety, and shelf life of temperature-sensitive products, such as food,
pharmaceuticals, and chemicals. One of the primary issues in temperature
maintenance is the inherent difficulty in consistently and accurately
controlling temperatures during transportation and storage. Variations in
temperature, even within acceptable ranges, can lead to spoilage, bacterial
growth, and product degradation. These temperature fluctuations are
particularly concerning for perishable goods, vaccines, and medications, where
efficacy and safety are paramount. Long-distance transportation, especially
across international borders, presents additional challenges. Varying climates
and weather conditions can lead to temperature deviations, which can be
detrimental to the integrity of the products being transported. Additionally,
the time-sensitive nature of some shipments, such as vaccines or fresh produce,
means that any temperature excursion can have severe consequences.
The cost of maintaining temperature-controlled
environments is another significant challenge. Refrigeration, insulation, and
climate control systems can be expensive to operate and maintain. Rising energy
costs, coupled with environmental concerns, necessitate energy-efficient
solutions without compromising temperature stability. Technological solutions
like IoT sensors and real-time monitoring have helped address some of these
challenges, providing better visibility and control over temperature-sensitive
products in transit. However, ensuring the widespread adoption and integration
of these technologies across the industry remains a complex task. In
conclusion, the ability to maintain precise temperature control throughout the
cold chain logistics process is vital for the industry's success. Failure to
address this challenge can result in product losses, compliance issues, and
customer dissatisfaction, ultimately hampering the growth and efficiency of the
global cold chain logistics market.
Infrastructure Gaps
Infrastructure gaps are a significant impediment to
the growth and efficiency of the global cold chain logistics market. These gaps
encompass deficiencies in both physical and technological infrastructure, which
are essential for the smooth and reliable transportation and storage of
temperature-sensitive products. Insufficient temperature-controlled storage
facilities, such as warehouses and distribution centers, can limit the capacity
and coverage of cold chain logistics operations. Outdated or inadequate refrigerated
transportation systems, including trucks, containers, and vessels, can result
in delays and compromised product quality. Unreliable energy supplies can
disrupt temperature control, posing a risk to the integrity of goods. In
regions with infrastructure gaps, the adoption of advanced technologies like
IoT sensors and real-time monitoring systems is often limited, reducing supply
chain visibility and control. Insufficient road, rail, and port infrastructure
can lead to transportation inefficiencies and increased costs.
Moreover, regulatory compliance is often
compromised in areas with infrastructure gaps, as specialized facilities and
equipment may be lacking, making it difficult to meet stringent standards. The
shortage of skilled workers due to limited training and educational programs
further exacerbates these challenges. These infrastructure gaps not only hinder
the expansion of the cold chain logistics market but also pose risks to the
safety, quality, and timeliness of temperature-sensitive products. Bridging these
gaps demands substantial investments from governments and private sector
stakeholders, especially in regions where cold chain logistics are
underdeveloped. Such efforts are crucial to ensure the competitiveness and
sustainability of the cold chain logistics industry in an increasingly
globalized and demanding market.
Key Market Trends
Government Initiatives
Government initiatives are poised to play a pivotal
role in driving the growth and development of the global cold chain logistics
market. These initiatives, often driven by a mix of economic, environmental,
and public health concerns, are aimed at fostering a more efficient, resilient,
and sustainable cold chain ecosystem. One of the primary areas where government
initiatives are impactful is in agriculture. Many governments recognize the
critical role that cold chain logistics plays in reducing food wastage and
improving food security. To this end, they are investing in infrastructure
development, including cold storage facilities and refrigerated transportation
networks. These investments not only benefit farmers by reducing post-harvest
losses but also ensure a more stable food supply for consumers. Moreover, in
the healthcare sector, governments have intensified their support for cold
chain logistics, especially in vaccine distribution. The COVID-19 pandemic
brought this to the forefront, with governments worldwide investing in
temperature-controlled storage and transportation systems to ensure rapid
vaccine deployment.
Additionally, governments are often involved in
shaping regulatory frameworks and quality standards for cold chain logistics,
ensuring that products meet safety and quality requirements. Such regulations
encourage the adoption of advanced cold chain technologies and best practices.
Furthermore, environmental concerns have led some governments to incentivize
the adoption of eco-friendly and energy-efficient refrigeration technologies
and transportation methods, promoting sustainability within the cold chain industry.
In conclusion, government initiatives are instrumental in shaping the future of
the global cold chain logistics market. Their support not only accelerates
market growth but also promotes efficient, sustainable, and resilient cold
chain solutions, benefiting both businesses and consumers
Segmental Insights
Application Insights
The fruits & Vegetables and
dairy products Expected to Witness Significant Growth in the Market, these
goods need a certain temperature for storage and transit because the majority
of them are perishable and temperature sensitive. As a result, it is anticipated
that the cold chain logistics industry is expected to grow in the upcoming
years.
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Region Insights
North India is home to some of the largest states
in India, such as Uttar Pradesh, Punjab, and Haryana. These states are major
producers of fruits, vegetables, dairy products, and meat. The region also has
a large food processing industry, which requires cold chain storage and
logistics services to transport and store perishable products.
In addition, North India is a major consumer of
perishable products. The region has a large and growing population, which is
driving the demand for cold chain storage and logistics services.
Recent Developments
- June 2021: Lineage
Logistics Announces Acquisition of the Cold Storage Division of Claus
Sorensen Lineage Logistics, LLC announced its plan to acquire the cold
storage division of Claus Sorensen, a Denmark-based cold storage company. This
acquisition aimed to expand Lineage’s warehouse network, which helps to
strengthen its supply chain offering for the Nordic region customers.
- December 2020: Maersk
enters partnership with Novo Nordisk on global cold chain logistics Maersk
partnered with Novo Nordisk A/S, a leading healthcare company. The partnership
aimed to provide cold chain logistics service that covers transportation including
inland logistics and ocean services..
Key Market Players
- Americold
Logistics, LLC
- Burris Logistics
- Cold Box
- Conestoga Cold Storage
- Congebec
- Lineage Logistics Holding, LLC
- Nichirei Corporation
- Tippmann Group
- United States Cold Storage
- VersaCold Logistics Services
|
By Service Type
|
By Application
|
By Temperature Type
|
By Technology
|
By Region
|
- Refrigerated Warehouse
- Refrigerated Transportation
|
- Seafood
- Meat
- Fruit & Vegetable
- Dairy Products
- Alternative Protein
- Others
|
|
- Dry Ice
- Gel Packs
- Eutectic Plates
- Liquid Nitrogen
- Quilts
|
|
Report Scope:
In this report, the India Cold Chain Storage And
Logistics Market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- India Cold Chain Logistics Market, By Service Type:
o Refrigerated Warehouse
o Refrigerated Transportation
- India Cold Chain Logistics Market, By Application:
o Seafood
o Meat
o Fruit & Vegetable
o Dairy Products
o Alternative Protein
o Others
- India Cold Chain Logistics Market, By Temperature Type:
o Frozen
o Chilled
- India Cold Chain Logistics Market, By
Technology:
o Dry Ice
o Gel Packs
o Eutectic Plates
o Liquid Nitrogen
o Quilts
- India Cold Chain Storage And Logistics Market,
By Region:
o North
o West
o South
o East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the India Cold
Chain Storage And Logistics Market.
Available Customizations:
India Cold Chain Storage And Logistics market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
India Cold Chain Storage And Logistics Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]