The May-June 2020 issue of the Cooling India Magazine pays special attention to the cold chain logistics sector – inclusive of the food chain sector and highlights the subject of digital retrofits.
In an exclusive interview, Jegapriyan Govindarajan, Managing Director, Tecumseh Products India, tells us that the Indian retail sector is emerging as one of the top-five retail markets in the world by economic value. In the overall retail industry, inclusive of the food and grocery account for the largest share in revenue in India. India is the world’s second-largest producer of food. The food retail market where the organized market constitutes only 3 per cent in comparison to the unorganized segment that forms 97 per cent of the food retailing market. The unorganised sector in food retail is predominantly serviced by general stores, Kirana stores, convenience stores and street markets. On the other hand, the organized sector includes gourmet stores, department stores, discount stores, supermarkets and hyper-marts, e-trailers and cash-and-carry formats.
On the other hand, the Indian cold chain sector is fragmented with over 3,500 players and most of them are a part of the unorganised sector. Also, consumers prefer scaled and integrated service providers who provide end-to-end solutions. Also, a research conducted by MarketsandMarkets shows that on the global front, the market size for the cold chain monitoring sector is expected to grow from USD 4.6 billion in the year 2020 to USD 8.2 billion by the year 2025 at a CAGR of 12.5% from 2020 to 2025. Also, we see that the increasing demand for temperature-sensitive drugs, the rising demand for better food quality and the need to reduce food wastage, the focus on increasing the supply chain efficiency of the fast-growing pharmaceuticals sector in Europe and North America are some of the major factors driving the growth of the cold chain monitoring market.
Also, we are aware that retrofits play a crucial role in meeting energy efficiency ratings, and on the global front, we see new acquisitions such as Johnson Controls that aims at expanding its HVAC installation and service capabilities in the UK. However, we must try and analyse the possibility of carrying out digital retrofits and the market for it in India. The issue highlights the insights drawn by Prabhu Ramachandran, CEO, Facilio. He talks about how and how as a solution it can offer system-wide transparency, ultra-optimised operations and centralised command and control. As a part of our editorial exercise, we urge industry representatives to wite to us and collaborate with news-worthy information and articles.
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Ranjana Konatt Editor