Market Research Report on Cold Chain Logistics in India (Cold Storage & Reefers) Present Scenario, Future Prospects, Market Potential, Opportunities, Growth Drivers, Industry Size, Analysis & Forecasts
The market research report titled ‘‘COLD CHAIN LOGISTICS IN INDIA (COLD STORAGE & REEFERS) Present Scenario, Future Prospects, Market Potential, Opportunities, Growth Drivers, Industry Size, Analysis & Forecasts’’ released by Niir Project Consultancy Services, provides a comprehensive analysis of Indian cold chain industry. The report begins by giving an overview of the industry by defining the composition & further moves to analyse the Indian scenario by citing information like structure and classification of the sector.
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In India, cold chain sector is termed as the sunrise sector gauging its indispensability in an industry’s growth and the investment potential present in the sector. This report aims at equipping you with the imperative knowledge of the industry and its potential in India. The report analyses the cold chain sector in profundity by covering data points like industry growth drivers, demand supply potential coupled with SWOT analysis of the market and the regulatory framework.
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The report scrutinizes the potential of the sector by way of measuring its growth drivers. The major driving force behind the growth of cold chain facilities in India will be the growth in end user industries. As mentioned above, cold chain has a host of industries as users and any palpable growth in these industries will necessitate the development of cold chain industry in India. Today Indian pharmaceutical industry is growing leaps and bounds and is carving a niche for itself in the global pharma terrain. The demand for pharma cold chain logistics is bound to increase in the next few years backed by growing healthcare penetration in the country and newer innovations in the pharma industry that necessitate the need for efficient cold chain logistics in pharmaceutical industry. Similarly, Indian dairy industry is one of the biggest user industries for cold chain logistics in India. Dairy industry in India presents a vast opportunity for cold chain industry to tap as the need for high quality milk & milk products rise in India.
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An efficient supply chain management will not only improve the quality & shelf life of milk but will play a major role in reducing the wastage in the sector. The food service sector is among the fastest growing sectors in India and Quick Service Restaurants (QSR) industry holds the largest share in the Food Service Industry and has been a critical segment in the cold chain sector of the country. QSR joints in India are spreading their wings and flying high. Penetration of such restaurant chains has gone deeper than metro cities and expanded to Tier II & Tier III cities as well.
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Such changes have led to a massive spurt in the food service industry, consequent to which the cold chain requirements by the industry have also augmented. Growth in the organized retail industry remains as a key driver for cold chain sector in India. Food retailing has come of age and the growing penetration of organized food retail in the nation has dictated the development of efficient cold chain supply management. Other factors acting as catalysts for the cold chain sector includes rising emphasis on reducing food wastage in the country and government initiatives liked FDI relaxation for the sector. Cold chain sector in India has been receiving much desired government aid in promoting & encouraging cold chain infrastructure in the nation.
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The report further scrutinizes the industry with the help of SWOT Analysis. Growing Indian population, favourable demographics and large agricultural production are some of the strengths of the industry. Indian population has been growing at a steady rate which ensures stable indirect demand for cold chains in India. With rising population, comes an irrefutable need for efficient supply chain management in order to bridge the gap between producer and consumer and for uniform distribution of food among the populace. Also, India occupies a position amongst the top three in production of a host of commodities including spices, fisheries, poultry, milk, fruits and vegetables. Such high agricultural produce puts the cold chain industry in a sweet spot by providing a steady demand for its services. Some of the key challenges for the sector includes uneven distribution of cold chain supply, high capital needs, inadequate infrastructure and lack of skilled manpower in the sector. Rising disposable incomes coupled with growing affluent population and urbanization are some of the macro opportunities for the sector.
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Processed food is increasingly finding takers from all the segments of society which brings effective cold chain logistic into picture. For any processed food to reach the end consumer in the freshest of its form requires an effective cold chain system. The report further expounds the domestic demand/supply situation of the industry along with the projections and present scenario. Demand for the cold chain sector is gauged by the growth in numbers for the user industry demand and supply is measured in terms of total number and capacity of cold storage in the country along with cold chain projects cleared under various government schemes. The report further provides financial information and analysis of the key players in the segment.
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The report wraps up the analysis with a positive outlook for the cold chain industry in India. disposable incomes & middle class coupled with favourable government policies and complementing growth of the user industries like organized retail, food processing and pharmaceutical industry. Indian cold chain industry is poised for significant growth in coming years. The market size of the industry stood at INR 1288 billion in 2019 and is expected to reach new levels by 2023.
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