Indian cold chain market to reach $8 billion
The total value of India’s cold chain market will increase to 400 billion rupees (US$8.18 billion) in 2015, according to a recent trade report.
“Cold Chains Market - India”, which has been published by Bharatbook.com, reveals the market is currently worth 100 billion rupees ($2.05 billion), but growing at a rate of 22% per annum.
Growth in this sector is being propelled by a number of factors, such as a local boom organised retail, growing demand from the pharmaceutical sector, the development of India’s processed food sector and various government initiatives.
“The report is part of our logistics series and provides a snapshot of the market, including all its segments surface storage and refrigerated transport,” commented Bharatbook.com through a press release.
“It has also identified key challenges such as a lack of logistical support, uneven distribution of cold chains, cost structure and power supply.”