Led by strong growth, the Indian cold chain market value is expected to reach INR 1,425.49 Billion by 2026, says the latest report by IMARC Group titled “Indian Cold Chain Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.”
The IMARC Group expects the market to grow at a CAGR of 14.6% during 2021-2026.
A cold chain refers to a storage and distribution service that is used to maintain the quality of products at a specific temperature.
Cold chain logistics maintain the quality and shelf-life of temperature-sensitive products.
In India, the demand for cold chains has escalated over the years.
As per the report, the expansion of organized food retail services, along with the increasing demand for fresh fruits and vegetables, dairy products, meat and poultry items, etc., represent some of the factors driving the Indian cold chain market.
In addition to this, the changing consumer behavior and the growing demand for frozen food products due to urbanization and western influences on food patterns have increased the demand for cold chain logistics.
The government of India has been taking several initiatives to promote the use of cold chains across the country by extending its support to improve the transportation and storage infrastructure.
Furthermore, rapid technological innovations, such as the integration of GPS tracking system and Bluetooth devices, and the penetration of Internet of Things (IoT) in cold chain logistics, for ensuring safety and security, is significantly changing the future of the cold chain industry, IMCRA report said.