India's Cold Chain Warehousing Boom: Meeting Fresh Fruit Demand
India's cold chain warehousing sector is expanding rapidly due to heightened demand for imported fresh fruits, spurred by healthier lifestyles and improved incomes. Significant investments are being made to enhance cold storage infrastructure and ensure efficient distribution. Government support and strategic partnerships are crucial to this growth.
The cold chain warehousing sector in India is witnessing a remarkable surge, primarily driven by an escalating demand for imported fresh fruits. The momentum is fuelled by a growing preference for healthier lifestyles, higher disposable incomes, and better affordability among consumers. In response to this surge and the disruptions caused by the COVID-19 pandemic, companies are doubling down on investments to expand cold storage infrastructure, ensuring efficient distribution and long-term sustainability.
A recent IMARC report indicates that the Indian cold chain market stood at INR 1,81,490 Crores in 2022 and is projected to reach INR 3,79,870 Crores by 2028, growing at a CAGR of 12.3%. The government's favourable measures, including funding for cold chain projects and support for cold storage construction, have spurred significant investments and fostered modern, efficient supply chains.
Partnerships such as the one between IG International and Horizon Industrial Parks further exemplify the sector's growth. IG International, a leading importer of fresh fruits in India, collaborated with Horizon to enhance their cold storage capacity with a state-of-the-art facility in Hosur, Tamil Nadu. This facility, with its strategic location and cutting-edge infrastructure, ensures seamless fruit sourcing and logistics.
The cold chain unit, covering an area of approximately 88,000 sq ft, integrates advanced features like insulated roofs, solar panels for energy efficiency, and cold rooms, all aimed at maintaining product quality and freshness. Horizon Industrial Parks, owned by Blackstone Real Estate funds, complies with all necessary regulations, ensuring an optimal environment for storing and processing fresh fruits.
