COLD STORAGE INDUSTRY:

Advanced refrigeration technology, as well as maintenance and tracking systems for diverse products such as fruits and vegetables, are all advantages of cold storage technology, which considerably reduces the likelihood of temperature-sensitive products being wasted. The distance between countries has shrunk as a result of globalisation. The cold storage is constructed by correctly shutting the space and eliminating heat with refrigeration equipment to keep the temperature low. The strict laws controlling the production and delivery of temperature-sensitive products have benefited the market substantially. Because of the rising organised retail sectors in emerging economies, the industry is primed for historic expansion. In addition, increased automation in refrigerated warehouses is expected to drive up demand even more. Cloud technology, robots, conveyor belts, truck loading automation, and energy management are all examples of warehouse automation. When it comes to transporting and storing temperature-sensitive products, chilled storage has become an important aspect of Supply Chain Management (SCM).

INDIAN MARKET OUTLOOK:

The Indian cold storage market is predicted to develop at a 16.09% compound annual growth rate (CAGR). In India, the cold storage market is highly fragmented, with more than 3500 unorganized businesses and only about 30 organized businesses.

• In India, organised retail is likely to be one of the most important drivers of the cold chain market. We expect consumers will have access to a wide selection of fresh fruits and vegetables, dairy goods, meat and poultry products, and a variety of other temperature-sensitive commodities that require cold-chain storage and delivery as organised food retail expands. The majority of organised retail companies have already recognised that establishing a strong cold chain infrastructure is a critical step in effectively managing their supply chains.
• There has been a significant increase in consumer demand for processed foods. The Indian government has also stated its intention to build a number of mega food parks. This bodes well for the country’s cold chain industry’s expansion.
• Due to rising risks and investments in grain crops, farmers are shifting their focus to fruit and vegetable production. Because most of these crops require refrigeration, cold storage facilities are likely to grow in popularity.
• Vaccines, biopharmaceuticals, and clinical trial materials are all heat sensitive and must be stored at temperatures ranging from 20 to 80 degrees Celsius. We predict a considerable demand for efficient cold chain facilities in the next years, with India’s vaccine, biopharmaceutical, and clinical trials markets likely to develop at double-digit rates. 

GLOBAL MARKET OUTLOOK:

The global cold storage market is predicted to increase at a CAGR of 13.5 percent over the next five years. Increased automation in refrigerated warehouses is expected to drive up demand even more. Cloud technology, robots, conveyor belts, truck loading automation, and energy management are all examples of warehouse automation. When it comes to transporting and storing temperature-sensitive products, chilled storage has become an important aspect of Supply Chain Management (SCM). Over the next few years, the expanding commerce of perishable goods is expected to help drive demand for refrigerated storage solutions. The impact of cold chain transport is being reduced by users and suppliers of temperature-controlled packaging devices. Simultaneously, growing awareness of formal Corporate Social Responsibility (CSR) programmes, severe government requirements, and shifting customer expectations all offer significant hurdles to the development of an appropriate packaging system. Compared to traditional stores, organised retail stores have better refrigeration and storage technologies. As a result, customers are increasingly buying frozen goods from these retailers. The demand for cold storage solutions is predicted to increase as the demand for chilled and frozen foods grows, as well as the organised retail sector expands. Various outlet formats are supported by organised retail, based on spending power and proximity to large residential and consumption clusters.

TOP PLAYERS WORLDWIDE:

• Conestoga Cold Storage
• Carrier Airconditioning and Refrigeration Ltd.
• Adani Agri Fresh Ltd.
• Montague Cold Storage Pty Ltd.
• Natural Vegetables & Fruits Storage Pvt. Ltd.
• Harshna Ice & Cold Storage Pvt. Ltd.
• Trenton Cold Storage, Inc.
• Henningsen Cold Storage Co.
• Cloverleaf Cold Storage Co.
• Cargo Services Center India Pvt Ltd