AUDIT, DESIGN, SUPPLY, BUILD & MONITOR
The cold chain industry in India remains at an emerging stage that makes it one of the promising fields within the warehousing and logistic industry. As per ISHRAE – Indian Cold Chain Industry Outlook 2024 Report, the Indian cold chain market was calculable to be value USD 19.6 Billion in 2020 and is any projected to succeed in USD 36 Billion by 2024, growing at a CAGR of 16 PF.
This segment traditionally has seen restricted infrastructure investments because of multiple factors including fragmented distribution approach, low compliance and lack of awareness in handling perishables, and lack of multi-commodity/multi-temperature storage facilities.
Thus far, the usage of cold storage facilities in India has been for the most part limited to the storage of perishable horticulture produce like fruits and vegetables. in line with the Ministry of Agriculture & Farmers Welfare, of the 8,186 cold storage facilities with a capability of 37.4 Million, some 83% are used for fruits and vegetables. but this can be quick dynamical.
More recently, the expansion of organized 3PLs, QSR, retail, e-commerce, and foodservice industries because of dynamical consumption patterns have brought the cold chain segments focused. Nowadays, consumers demand an oversized kind of contemporary fruits and vegetables, farm products, meat, and poultry product, and different temperature-sensitive commodities that need cold chain infrastructure, thus fitting a powerful cold chain infrastructure could be a key step in efficiently managing their supply chains. The trend is currently shifting towards establishing multipurpose cold storage and providing end-to-end services across the value chain.
Pharmaceutical products are extremely liable to temperature and time constraints, creating a cold chain a key demand for this industry. In the present situation where safe delivery of vaccines for mass immunization against COVID-19 is an absolute priority, the cold chain is in immense demand.
Indian Cold Chain Market Drivers :
Overall, the cold chain capability in India can still grow sharply to succeed in 40.7 million metric tonnes of total perishables by 2023, rising 8.2% from 2020, according to Collier's report. The segment is expected to become more organized and attract more institutional funds. Future trends in this sector may include built-to-suit assets with superior building specifications, diversity in the cold storage offerings industry to higher-value commodities, and the use of sustainable solutions for reducing operational costs.