#vaccine wastage reasons

[rupalic]

Cold Chain Industry to Showcase Continued Growth in the Coming Years

The cold chain market refers to the infrastructure and processes used to ensure the quality and safety of temperature-sensitive products throughout the supply chain. This is particularly crucial for industries such as pharmaceuticals, food and beverages, and chemicals, where maintaining specific temperature conditions is vital. The cold chain industry encompasses the entire ecosystem of temperature-controlled logistics, and efficient cold storage facilities are essential for ensuring the integrity of the cold chain. Cold chain storage is a fundamental component of the broader cold chain market. The global cold chain market value is anticipated to grow at a CAGR of 9.0%, reaching $278.2 billion in 2023 and $428.4 billion by the end of 2028.

Key components of the cold chain include cold chain storage, refrigerated storage, transportation, and monitoring systems. Here are some key points about the cold chain market:

Pharmaceuticals: The pharmaceutical industry heavily relies on the cold chain to transport and store vaccines, biologics, and other temperature-sensitive medications. This has become especially important with the distribution of COVID-19 vaccines.

Food and Beverages: Perishable goods, including fresh produce, dairy products, and frozen foods, require a controlled temperature environment to prevent spoilage and maintain quality.

Technological Advances: The cold chain market has seen advancements in technology, such as temperature-monitoring devices, RFID (Radio-Frequency Identification) systems, and data analytics, to ensure real-time tracking and traceability.

Regulatory Compliance: Strict regulations and standards, especially in the pharmaceutical and food industries, drive the need for compliance with temperature control measures to guarantee product safety and efficacy.

Emerging Markets: With the globalization of supply chains, there is an increasing demand for cold chain solutions in emerging markets, where infrastructure development is a key focus.

Environmental Concerns: There is a growing emphasis on environmentally friendly and energy-efficient cold chain solutions to reduce the environmental impact of temperature-controlled logistics.

E-commerce and Cold Chain: The rise of online grocery shopping and e-commerce has further emphasized the importance of efficient cold chain logistics for the timely and safe delivery of perishable goods.

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Market driver: Increasing need for temperature control to prevent food loss and potential health hazards

Food security, food safety, economic and environmental sustainability, and minimal food waste are major focus areas in the food industry. Food loss and waste are caused due to various reasons. For instance, perishable products are often exposed to fluctuating temperatures during transit and handling, which results in food spoilage and wastage. To overcome this, the demand for refrigerated storage and transportation services has increased across the globe. According to UNEP 2021, an estimated 17% of total food produced for human consumption is wasted, costing the world economy USD 936 billion each year. Food loss is caused by the absence of cold chains during food processing, packaging, distribution, and consumption. According to the International Institute of Refrigeration 2021, a lack of proper refrigeration directly led in a loss of 526 million tons of food production, or 12% of total global production.

This is enough to feed an estimated 1 billion people in a world where 811 million people are hungry and 3 billion cannot afford a nutritious diet. According to the Food and Agriculture Organization (FAO) 2021, India is one of the world’s largest food producers and has a lot of food produced in the country to meet its food requirements, but because of the fragmented and unorganized supply chain, storage, and logistics, gives an inadequate food distribution system. Each year, over USD 14 billion in crops are wasted owing to inefficient cold chain and disorganized logistics. According to a 2021 study on All India Cold Chain Infrastructure Capacity (Assessment of Status & Gap) conducted by NABARD Consultancy Services Pvt. Ltd. (NABCONS) for the National Centre for Cold Chain Development (NCCD) under the Department of Agriculture, Cooperation, and Farmers Welfare in the Ministry of Agriculture & Farmers Welfare, the country’s requirement for cold storage is 35 million MT, while the capacity for such storage is around 32 million MT. According to Colliers’ newest report, opportunities in Indian cold chain assets, India’s cold storage capacity is expected to reach 40.7 million metric tons by 2023, up 8.2% from 2020.

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The e-commerce industry is growing rapidly in the Asia Pacific region, which is driving the demand for cold chain logistics for the last-mile delivery of temperature-sensitive products, such as fresh food, pharmaceuticals, and other products. Governments in the Asia Pacific region are investing in the development of cold chain infrastructure to support the growth of the food and pharmaceutical industries. For instance, the Indian government has launched the Pradhan Mantri Kisan Sampada Yojana to create modern infrastructure for the food processing industry, which includes cold chain logistics. The growing demand for food products, increasing urbanization, rising e-commerce industry, government initiatives, and focus on sustainability are driving the growth of the cold chain market in the Asia Pacific region.

[startrackworld]

why refrigerator is used

A refrigerator is used to keep food and other perishable items cold or at a low temperature to extend their shelf life and prevent spoilage. It works by removing heat from the inside of the refrigerator and releasing it into the surrounding environment, thereby creating a controlled cold environment. Here are some reasons why refrigerators are commonly used:

Food Preservation: Refrigerators slow down the growth of bacteria and other microorganisms that cause food to spoil. By keeping food at a lower temperature, the rate of chemical reactions that lead to spoilage is reduced, allowing food to stay fresh for longer periods.

Preventing Food Waste: Refrigeration helps reduce food wastage by enabling people to store leftovers, cooked meals, and raw ingredients for a longer time. This can lead to cost savings and a more efficient use of resources.

Convenience: Refrigerators allow people to store a variety of foods and beverages, providing easy access to a wide range of options for meals and snacks without the need for frequent trips to the grocery store.

Food Safety: Refrigeration helps prevent the growth of harmful bacteria that can cause foodborne illnesses. Keeping perishable foods at the appropriate temperature helps ensure that they remain safe for consumption.

Temperature-sensitive Items: Many medications, vaccines, and certain products like cosmetics or photographic films require specific temperature conditions for storage. Refrigerators provide a controlled environment for these items.

Beverage Cooling: Refrigerators are commonly used to cool and store beverages like water, juices, sodas, and alcoholic drinks, providing a refreshing and chilled experience.

Long-term Storage: Some foods, like frozen fruits, vegetables, and meats, can be stored in the freezer compartment of a refrigerator for extended periods, allowing consumers to enjoy out-of-season produce.

Flavor and Texture Preservation: Refrigeration can help maintain the quality, flavor, and texture of foods, especially those that are sensitive to temperature changes.

Meal Planning: Having a refrigerator allows for better meal planning and preparation, as ingredients can be stored and organized conveniently.

Cultural and Culinary Practices: In many cultures, refrigeration has become an integral part of cooking and food storage practices, allowing for the preservation of traditional dishes and ingredients.

Overall, refrigerators play a vital role in modern households, commercial establishments, and various industries by ensuring the safe storage and consumption of perishable items. Choose best refrigerator online in UAE at best rate and offer from StarTrack World

[healthcaremarketfmi]

Pharmacy Refrigerators Market Industry Analysis, Opportunities, Technology, Demand, Top Players and Growth Forecast 2032

The global Pharmacy Refrigerators Market was worth US$ 552.3 Million in the year 2022 and is expected to reach US$ 1.03 Billion by the year 2032 at a CAGR of 5.8% between 2022 and 2032.

With the growing frequency of organ transplants in the wake of increasing incidences of chronic diseases, the global Pharmacy Refrigerators market is bound to grow on an unstoppable note in the near future.

Besides, there is a steep increase in research efforts related to genomics along with medication-related research. Thermal shock does result in wastage of vaccines as well. These are the other factors driving Pharmacy Refrigerators market and the scenario is expected to remain unchanged even in the forecast period.

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Additionally, optimal temperature as well as hygiene need to be maintained during transportation and storage of blood as well as blood components. Pharmacy Refrigerators also guide against power outages and are built with alarm systems.

Hematological diseases like blood clots, hemophilia, blood cancers, and bleeding disorders are asking for plasma; thereby promulgating the growth of pharma refrigerators market. The pandemic as well as the post-pandemic era saw Pharmacy Refrigerators market grow at an exponential rate and the trend still continues. This could be attributed to the preventive measures taken in the form of vaccines and medications being stored.

At the same time, the fact that local players are floating affordable alternative products can’t be ignored. This factor could restrain the Pharmacy Refrigerators market. Also, the number of end-consumers preferring refurbished equipment is on the rise. This is another factor hampering the Pharmacy Refrigerators market.

Future market Insights has entailed these facts with insights in its latest market study entitled ‘Pharmacy Refrigerators Market’. It has its team of analysts and consultants to deploy a 360-degree approach in its primary, secondary, and tertiary modes of research.

“With financial and technical aid regarding upgradation of healthcare infrastructure flowing from all across, the global Pharmacy Refrigerators market is expected to grow on a splendid note in the forecast period”, says an analyst from Future Market Insights.

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Key Takeaways from Pharmacy Refrigerators Market

North America holds the largest market share with The US being subject to sizable investment in healthcare and hospital infrastructure. Plus, reduction in biological and pharmaceutical component waste is on the anvil.

Europe holds the second-largest market share with Germany leading from the front. This could be credited to growing frequency of chronic diseases herein.

The Asia-Pacific is expected to grow at the fastest rate in the Pharmacy Refrigerators market going forward. This could be reasoned with Indonesia, China, and India witnessing a noticeable increase in demand for these refrigerators.

Competitive Refrigerators

Azbil Corporation, in March 2020, did announce launching LyoQuest Arctic (a new-fangled laboratory freeze dryer operating with the help of natural gases.

B Medical Systems, in January 2020, did announce tabling a novel medical refrigerator production facility.

Lec Medical has its Control Plus. IT comes across as a novel range of pharmacy refrigeration measuring fridge’s as well as vaccine’s core temperature.

Helmer Scientific, in August 2019, came up with professional medical refrigerators abreast with OptiCool cooling technology in its line of GX Solution Refrigerators.

Helmer Scientific, in March 2021, put forth its very first medical-grade refrigerators containing OptiCool cooling system. The basic purpose is addressing concerns related to patient sample, medication, blood, and storage of vaccines.

Major Players:

Thermo Fisher Scientific, Helmer Scientific, B Medical System, Philipp Kirsch GmbH, Haier, Accucold, Aegis Scientific, BioMedical Solutions, Inc., Bionics Scientific Technologies (P) Ltd., Coldway and others

[immunify1]

How will $IMM revive Healthcare Industry Capability?

An active & trending word being thrown around the field of medical technology is “blockchain.” This is for good reason. Simply put, blockchain holds the potential to revolutionize healthcare. With its full deployment, patients can be truly focused on at the center of all operations, which in turn will also be entirely overhauled with better security, privacy, and accessibility. But how exactly does blockchain enable all this? How is the health industry fully utilizing this vastly capable cutting-edge technology?. Immunity.Life has not just taken a spotlight in the healthcare sector but also synergized with the Blockchain industry to revitalize some key features of the space.

With smart moves to optimally utilize good platforms, Immunify.Life enables the convergence of existing, but fragmented systems, and creates the basis for healthcare 4.0. Immunify.Life uniquely prevents the proliferation of isolated applications by combining all medical interaction and information in one’s self-sovereign identity and comprehensive de-identified disease register. This comprises medical treatment records, disease immunizations, information about chronic conditions, and associated communications.

Why Immunify.Life

Immunify.Life is a transformative & self-sustaining healthcare ecosystem secured by blockchain. Its primary use is to strengthen global health systems and access to health data via an incentivized data capture tool developed for Immunify.Life disease register. It provides an all-in-one platform and ecosystem to capture full, transparent health records of secured patient medical information.

It offers the patient direct access to personal data via a unique health identification tag with the ability to consolidate this data to enable Big Data for Health. The platform integrates a sustainable ecosystem allowing for the incentivization of health campaigns and rapid scaling of its deployment, seamless integration of peripheral health-related data and data management tools.

Reviving Healthcare Industry Capacity

Taking the frontier in being a transformative, highly secure, and self-sustaining healthcare ecosystem secured by Blockchain as it eliminates geoeconomic barriers to treatment and enables sustained compliance through an innovative token rewards program at no cost to patients and providers, Immunify.Life hopes to revitalize the healthcare system, deploying good strategies;

Immunify.Life will reduce the risk of drug wastage and theft by validating users and replacing outdated paper systems which have been very archaic.Without compromising, it will improve health outcomes by rewarding patients and doctors to follow health priorities as well as ensure they follow best practice guidelines.It will also enable fast & reliable technology to access medical data anywhere, any time.The system will save time and lost information by eliminating incompatible systems, processes, and paper records.It will also enhance the value of existing clinical data through intelligent integration of non-medical and medical data analyzed via our AI.Another key move will be to empower its patients by giving them a central role in the management of their private data and clearly demonstrating their vaccination status.Another key feature which Immunify.Life will deploy will be in the aspect of addressing vulnerabilities of healthcare by putting accuracy of medical data and secure transfer as the core element.Immunify.Life also has a Unique token reward system that it believes will drive positive health outcomes for healthcare workers and patients. As these goals are achieved, patients are incentivized with meaningful rewards applicable to daily life so the barrier to patients taking time off work is removed.

About Immunify.Life

Immunify.Life is a transformative and self-sustaining healthcare ecosystem secured by blockchain with the mission to transform the landscape of health management and data utilization. The project enables the power of Big Health Data and Artificial Intelligence to ensure seamless capture of de-identified patient healthcare data.

Immunify.Life has established a strong presence in Africa with a team that has over 60 years of combined experience in the relevant industries. It is a world-first solution to help solve global health management crises and data collection challenges.

[davesdiary83]

Kenya’s vaccination drive- left dry

The Health Cabinet Secretary Mutahi Kagwe has said the government was pursuing acquisition of one million doses of vaccines each from Pfizer as well as Johnson and Johnson respectively to supplement the Astrazeneca vaccines. However, there has not been any needle movement on when they are noted to arrive and how Kenyans will be administered this vaccine.

He also continued to say that Kenya is planning to have a manufacturing unit set up in the country in order to meet the growing requirement of Kenyans to be vaccinated.

Meanwhile, Kenya has currently placed a ban on Sputnik that has been privately imported by Jayesh Saini, Dinlas Pharmaceuticals stating numerous reasons that are yet to be verified. The importer is now prepared to re-export as the ban will result in wastage of the vials. Jayesh Saini has been a known figure in the healthcare industry of Kenya and played a key role in modernizing healthcare. Nairobi West Hospital which was started by his father treated hundreds of patients on a daily basis and continues to receive flak from competitors and people employed by them, with sole motives to tarnish the credibility of the establishment.

[blogs-aajenterprises]

The role of cold chain logistics in the Indian Pharmaceutical Industry is more important than ever

More than 2.39 billion COVID-19 vaccine doses have been administered across the globe as of June 2021, according to reports based on government data from sources. An aggressive vaccine drive and a cold chain logistics support is our only hope to finally put an end to the Coronavirus pandemic that has taken more than 2.8 million lives across the globe. All countries across the world are focusing on vaccinating their entire population as soon as possible as many countries are now facing a second or a third COVID-19 wave.

Given that India is the second-most populous country in the world with a population of 1.2 billion people, it is a major challenge for the government to vaccinate 1.2 billion people timely, especially after the tragic second wave. While vaccine shortage remains a huge concern for India, challenges in India’s cold chain logistics remain another reason to worry. Several states of the country have been reporting vaccine wastage.

To prevent any kind of vaccine wastage, India needs to have its cold chain logistics network in place to ensure there is negative wastage of vaccines. Both COVAXIN and COVISHIELD, which are majorly being administered in India, need a cold-storage facility and cannot be exposed to heat or be frozen. Department of Biotechnology Secretary Renu Swarup said that Indian vaccines need to be stored at 2-8 degrees Celsius.

It is imperative to ensure proper temperature management of these vaccines, especially during transportation. Here’s where cold chain logistics play a major role. Apart from procuring cold chain equipment, the Indian pharma industry needs to have efficient cold chain logistics to ensure that no lives are lost because of poor management of the vaccines.

Several medical experts from across the globe have been emphasizing how maintaining a robust cold-chain system utmost importance as vaccines are sensitive products.

“If a person is vaccinated and the temperature has breached its intolerance limit or lost its potency, the efficiency rate is hampered.”

– W.H.O.

The World Health Organization (WHO) mandate has said that the temperature for any COVID-19 vaccine cannot be lower than 2 degrees or above 8 degrees. It is more important than ever for Indian pharmaceutical companies to have efficient cold chain logistics and supply chain network as well as infrastructure to ensure a proper cold chain system.

 Need of the hour : Cold Chain Logistics

A cold chain logistics and supply chain that monitors vaccines throughout the entire process—right from the transit to when it is dosed.

Tracking vaccines as they move across the supply chain while maintaining all protocols.

Creating and implementing an IT-enabled mechanism at all vaccine manufacturing units.

Using temperature data logger/IoT devices to monitor temperature at storage and at time of transportation.

Pharmaceuticals are exported and imported across the globe on a large scale. Unlike the other logistics and supply chain industries, pharmaceutical chain logistics is complex and huge. It is not a regular supply chain because it has a major role to play in saving lives. With the rise in demand for COVID-19 medication and vaccines, it is very important to have a transparent and effective cold chain with proper temperature-controlled transportation and other required equipment to ensure that no lives are lost due to just a glitch.

[johnvazhathara]

As U.S. approves booster shots, just 3.5% vaccinated in AfricaAccording to the WHO, eight in 10 African countries are likely to miss vaccinating at least 10% of the population by the end of this month

19/09/2021 



R. Prasad

On September 14, WHO Director-General Dr. Tedros Ghebreyesus highlighted vaccine inequity globally, particularly in Africa, when he revealed that of the nearly 6 billion doses administered globally, only 2% of those have been in Africa; about 80% have been administered in high- and upper-middle income countries. Less than 3.5% of people in Africa have been fully vaccinated so far compared with 54% of the total population in the U.S.

“This doesn’t only hurt the people of Africa, it hurts all of us. The longer vaccine inequity persists, the more the virus will keep circulating and changing, the longer the social and economic disruption will continue, and the higher the chances that more variants will emerge that render vaccines less effective,” the WHO Chief said.

Vaccine inequity between high- and low-income countries is striking. More than 75% of all vaccines have been administered in just 10 countries. According to United Nations Development Programme (UNDP), 60.1% of the people in the high-income countries have been vaccinated with at least one dose as on September 15, while in the low-income countries, it is just 3%.

The WHO has set an ambitious target of vaccinating at least 10% of the population of every country by September, at least 40% by the end of the year and 70% globally by the middle of next year. But according to the WHO, eight in 10 African countries are likely to miss vaccinating at least 10% of the population by the end of this month.

“Forty-two of Africa’s 54 nations — nearly 80% — are set to miss the target if the current pace of vaccine deliveries and vaccinations hold,” according to Africa’s WHO regional office. Just nine African countries, including South Africa, have already reached the global target set for September and three more countries are set to meet the target before the end of this month. In contrast, almost 90% of high-income countries have already reached the September target of at least 10% vaccination, and more than 70% have already reached the year-end target of 40%.

Promises unkept

In June, the G7 nations promised to share 870 million doses to COVAX but released just 100 million. Just about 4% of all vaccines produced worldwide have been channelled through COVAX.

According to GAVI, as on September 15, COVAX has so far shipped over 272 million vaccines to 141 countries. Though high-income countries had promised to donate more than 1 billion doses, less than 15% of those doses have materialised, says the WHO. Instead of increasing supplies to make up for the shortfall, vaccine supply to COVAX is only going to witness a further reduction.

On September 9, Dr. Matshidiso Moeti, WHO’s Africa director said that for a variety of reasons including the demand for booster doses in the high-income countries, vaccine supply to Africa through COVAX will be 25% (about 150 million doses) less by the end of the year. As a result, Africa will face a shortage of almost 470 million doses in the global year-end target of fully vaccinating 40% of its population. COVAX will be supplying only about 470 million doses by the end of the year, sufficient to vaccinate just 17% of the population.

In August, Africa received almost 21 million vaccine doses through COVAX. Another 95 million doses are expected during September. WHO expects more vaccine supplies through COVAX and additional supplies from the African Union, which is directly purchasing vaccines from manufacturers. African Union member States had come together to pool their purchasing power.

Reneging on deal

In end-March, the African Union placed an order to purchase 220 million doses of Johnson & Johnson’s single dose vaccine, with the potential to order an additional 180 million doses. In addition, South Africa entered into a bilateral deal with J&J to procure 31 million vaccine doses; the fill and finish activities of the vaccine are in South Africa.

If initially J&J did not guarantee any supply to either South Africa or the African continent, just 9 million doses were set aside for South Africa after a protest. Yet, shockingly, while only a small quantity of the 9 million was supplied to South Africa, J&J exported doses to Europe instead. After a renewed protest and global outrage, J&J backed down, and began supplying vaccines to South Africa and the African Union.

The same pattern is now playing out in India. About 40 million doses of the vaccine that will be produced each month by Biological E, a Hyderabad-based company, are likely to be exported to Europe and the U.S. “The decision on where they will be exported, and at what price, is under the purview of J&J completely,” Mahima Datla, the Managing Director of Biological E confirmed to Nature magazine.

“We demand that any J&J vaccine doses made in India be supplied on priority to the Indian government, the African Union, and the COVAX Facility. Developing countries with large unvaccinated populations are witnessing a frightening rise in infections and deaths from COVID-19. J&J must prioritise them,” Indian Civil Society Organisations said in a letter to the Indian government and J&J.

Exports banned

Strive Masiyiwa, African Union’s special envoy recently said: “We are not asking for donations. We want to buy vaccines and that means we want access to purchase.” He wanted countries that have imposed restrictions on vaccine exports to lift them. “That would give us vaccines immediately,” he said.

Serum Institute had stopped supplying to COVAX since end-February, and Adar Poonawalla in a statement on May 18 said: “We continue to scale up manufacturing and prioritise India. We also hope to start delivering to COVAX and other countries by the end of this year.”

Though low vaccination coverage seen in many African countries is primarily due to lack of vaccine supply, vaccine hesitancy too has a role to play. “While many African countries have sped up COVID-19 vaccinations as vaccine shipments ramped up in August, [as on September 2] 26 countries have used less than half of their COVID-19 vaccines,” the WHO says.

Wasted doses

Besides additional doses required for booster, the high-income countries have also wasted millions of doses. Even while many countries in Africa and elsewhere are yet to vaccinate even the healthcare workers, over 15 million doses have been thrown away in the U.S. since March 2021. The US had already binned more than 1,82,000 vaccine doses by the end of March.

Over 0.8 million doses were wasted in the U.K. In August alone, nearly 0.1 million doses were binned as younger people were advised not to take the AstraZeneca vaccine. This was following reports of rare blood clotting events related to the AstraZeneca vaccine.

The reason why the U.S. wasted over 15 million doses was because the priority was to vaccinate people when they show up without prioritising efforts to reduce wastage. Even the new advisory from CDC urges doctors “not miss any opportunities to vaccinate every eligible person who presents at a vaccination site, even if it means puncturing a multidose vial to administer vaccine without having enough people available to receive each dose.”

As per a 2019 paper from the WHO, there is 15-20% wastage in the case of 10-dose vials. But the amount wasted can be reduced through targeted action. A few States in India reported huge vaccine waste initially but quickly turned the table in April — they not only had zero wastage but also extracted additional doses from the given supply.

[rupalic]

Cold Chain Industry Will Hit Big Revenues In Future

The cold chain market refers to the infrastructure and processes used to ensure the quality and safety of temperature-sensitive products throughout the supply chain. This is particularly crucial for industries such as pharmaceuticals, food and beverages, and chemicals, where maintaining specific temperature conditions is vital. The cold chain industry encompasses the entire ecosystem of temperature-controlled logistics, and efficient cold storage facilities are essential for ensuring the integrity of the cold chain. Cold chain storage is a fundamental component of the broader cold chain market. The global cold chain market value is anticipated to grow at a CAGR of 9.0%, reaching $278.2 billion in 2023 and $428.4 billion by the end of 2028.

Key components of the cold chain include cold chain storage, refrigerated storage, transportation, and monitoring systems. Here are some key points about the cold chain market:

Pharmaceuticals: The pharmaceutical industry heavily relies on the cold chain to transport and store vaccines, biologics, and other temperature-sensitive medications. This has become especially important with the distribution of COVID-19 vaccines.

Food and Beverages: Perishable goods, including fresh produce, dairy products, and frozen foods, require a controlled temperature environment to prevent spoilage and maintain quality.

Technological Advances: The cold chain market has seen advancements in technology, such as temperature-monitoring devices, RFID (Radio-Frequency Identification) systems, and data analytics, to ensure real-time tracking and traceability.

Regulatory Compliance: Strict regulations and standards, especially in the pharmaceutical and food industries, drive the need for compliance with temperature control measures to guarantee product safety and efficacy.

Emerging Markets: With the globalization of supply chains, there is an increasing demand for cold chain solutions in emerging markets, where infrastructure development is a key focus.

Environmental Concerns: There is a growing emphasis on environmentally friendly and energy-efficient cold chain solutions to reduce the environmental impact of temperature-controlled logistics.

E-commerce and Cold Chain: The rise of online grocery shopping and e-commerce has further emphasized the importance of efficient cold chain logistics for the timely and safe delivery of perishable goods.

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Market driver: Increasing need for temperature control to prevent food loss and potential health hazards

Food security, food safety, economic and environmental sustainability, and minimal food waste are major focus areas in the food industry. Food loss and waste are caused due to various reasons. For instance, perishable products are often exposed to fluctuating temperatures during transit and handling, which results in food spoilage and wastage. To overcome this, the demand for refrigerated storage and transportation services has increased across the globe. According to UNEP 2021, an estimated 17% of total food produced for human consumption is wasted, costing the world economy USD 936 billion each year. Food loss is caused by the absence of cold chains during food processing, packaging, distribution, and consumption. According to the International Institute of Refrigeration 2021, a lack of proper refrigeration directly led in a loss of 526 million tons of food production, or 12% of total global production.

This is enough to feed an estimated 1 billion people in a world where 811 million people are hungry and 3 billion cannot afford a nutritious diet. According to the Food and Agriculture Organization (FAO) 2021, India is one of the world’s largest food producers and has a lot of food produced in the country to meet its food requirements, but because of the fragmented and unorganized supply chain, storage, and logistics, gives an inadequate food distribution system. Each year, over USD 14 billion in crops are wasted owing to inefficient cold chain and disorganized logistics. According to a 2021 study on All India Cold Chain Infrastructure Capacity (Assessment of Status & Gap) conducted by NABARD Consultancy Services Pvt. Ltd. (NABCONS) for the National Centre for Cold Chain Development (NCCD) under the Department of Agriculture, Cooperation, and Farmers Welfare in the Ministry of Agriculture & Farmers Welfare, the country’s requirement for cold storage is 35 million MT, while the capacity for such storage is around 32 million MT. According to Colliers’ newest report, opportunities in Indian cold chain assets, India’s cold storage capacity is expected to reach 40.7 million metric tons by 2023, up 8.2% from 2020.

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The e-commerce industry is growing rapidly in the Asia Pacific region, which is driving the demand for cold chain logistics for the last-mile delivery of temperature-sensitive products, such as fresh food, pharmaceuticals, and other products. Governments in the Asia Pacific region are investing in the development of cold chain infrastructure to support the growth of the food and pharmaceutical industries. For instance, the Indian government has launched the Pradhan Mantri Kisan Sampada Yojana to create modern infrastructure for the food processing industry, which includes cold chain logistics. The growing demand for food products, increasing urbanization, rising e-commerce industry, government initiatives, and focus on sustainability are driving the growth of the cold chain market in the Asia Pacific region.