Increased capacity for refrigeration in vogue

The global cold chain market size was valued at US$167.99 billion in 2018 and is expected to expand at a CAGR of 15.1percent from 2018 to 2025. Share of Indian cold chain market was worth Rs 1,121 billion in 2018 i.e., US$16.24 billion, which is substantial 10percent of global cold chain. The market is further projected to reach ` 2,618 billion by 2024, growing at a CAGR of 14.8 percent during 2019-2024.

For them, it’s like summing it up in apt one liner. The demand for refrigeration in the supply chain is greater than it’s ever been. Numerous trends are pushing toward an increased capacity for refrigeration in logistics and the logistics market is sweating it out to keep up and evolve in order to meet the newest developments. New ‘on-grid’ and ‘off-grid’ refrigeration solutions, newer devices, IoT, blockchain, shared resources – assets and services, cloud-based integrated solutions, it’s participating and contributing in this growing sector.

Increased demand for fresh and locally-produced food or preserved food

• Increased demand for refrigerated pharmaceuticals and nutraceuticals and its need for MAP-CAP
• Higher scrutiny for refrigerated food and pharmaceutical products under new regulatory framework
• Consumer awareness driven demand for environmental consciousness in shipping and production practices
• Increased prominence of third-party logistics carriers (3PLs) in the cold chain market.