Admin Reporter- POOJA1

Oct 17 2020

Cold storage real estate stock rises up to 1,500 mn sq ft by 2023: Report

Saturday, 17 October 2020

The rising demand for food and groceries on e-commerce platforms will fuel the growth in the cold storage business, property consultant CBRE has said, and estimated that the total storage capacity as well as the real estate space in this segment will double by 2023.In its report on the cold storage segment, the consultant said that the overall cold storage real estate stock stood at 750800 million square feet in 2018 and is expected to rise to 1,4001,500 million sq ft by 2023.





The overall cold storage capacity in 2018 stood at 3739 million tonnes and is expected to double to 7075 million tonnes by 2023.Anshuman Magazine, chairman, India and South East Asia, Middle East and Africa, CBRE, said, "Cold storage facilities play an integral role in improving the shelf life of products and are an important enabler for several industries working across fresh food production and delivery; along with healthcare and other products such as flowers and chemicals."

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