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Cold storage has done well in Hindi heartland and North. Barring Karnataka and AP it has no presence in the South according to a study

The North Indian states of Uttar Pradesh, Bihar, Punjab, Haryana, Madhya Pradesh, Maharashtra contribute over ninety per cent of the total cold storage chain in the country in 2019. Among the southern states Andhra Pradesh and Karnataka have done well. The cold storage concept has not taken off in any of the other states.

The overall Cold Storage space to reach 1,400-1,500 million sq. ft by 2023

The overall Cold Storage space available in the country is estimated to reach 1,400-1,500 million sq. ft by 2023.

BRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, has released its comprehensive findings on the cold storage (CS) segment in the country and the factors which would lead to its robust growth.

The Other projected growth drivers of the Indian CS segment include the growing preference for healthier food without preservatives by the young and working-age population would boost the need for CS facilities. Additionally, traditional preferences in India have always been higher for fresh produce, thereby further driving the need for setting up CS facilities closer to residential areas.The emergence of the ‘cloud kitchen’ concept is also likely to boost demand for CS facilities.

The size of the online F&G retail industry is likely to quadruple by 2022

The size of the online F&G retail industry is likely to quadruple by 2022; and the size of the dairy industry is likely to more than double by 2023. Government initiatives to reduce post-harvest waste, encourage investment and improve logistics efficiencies are also expected to boost the overall CS capacity, value and RE stock.

CS facilities integral for promotion of the rural economy

The projected growth of F&G, online F&G, dairy, food processing and pharma industries over the next few years is thus likely to drive demand for CS and reduce product wastage. CS facilities are also integral for promotion of the rural economy as they would link the marketplaces across all locations, the release added.

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