India Dairy Products Market to Grow with a CAGR of 6.3% through 2029
India Dairy Products Market is thriving on the back of
three significant drivers such as the rise in health consciousness and
nutritional awareness, evolving consumer preferences and dietary shifts, and
rapid urbanization coupled with a changing retail landscape.
According to TechSci Research report, “India Dairy
Products Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the India Dairy Products Market stood at USD24.5 billion
in 2023 and is anticipated to grow with a CAGR of 6.3% in the forecast period,
2025-2029. The India dairy products market stands as a significant and complex
sector within the country's vast and diverse agricultural landscape. With a
population of over 1.3 billion people, India ranks as the world's largest
milk-producing nation and a global dairy powerhouse. The market encompasses a
wide array of products, including milk, yogurt, butter, ghee, cheese, and more,
and plays a crucial role in the nation's economy and nutritional sustenance.
The India dairy products market is characterized by
its sheer size and diversity. It caters to the varied dietary preferences of a
multi-ethnic population, from traditional milk-based sweets and beverages to
contemporary dairy items like cheese and yogurt. The market encompasses a broad
spectrum, ranging from unorganized small-scale producers to large, modern dairy
processing companies.
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Dairy Products Market”
Increasing health consciousness and awareness of the
nutritional benefits of dairy products have led to a shift in consumer
preferences. Dairy products are regarded as important sources of essential
nutrients such as calcium, protein, and vitamins, promoting their inclusion in
everyday diets. Additionally, the market has seen a surge in the demand for
value-added dairy products, such as flavored yogurt, probiotic drinks, and
fortified milk. These products cater to the evolving tastes and preferences of
consumers, especially in urban areas. Furthermore, the preference for packaged
dairy products, including UHT (ultra-high temperature) milk and processed
cheese, has grown due to factors like convenience, longer shelf life, and
hygiene considerations.
The expansion of organized retail chains and
supermarkets has facilitated consumer access to a wider variety of dairy
products. These retail formats offer a platform for both national and
international dairy brands to showcase their products. Additionally, India
boasts a robust network of dairy cooperatives, such as Amul and Mother Dairy,
which have played a pivotal role in organizing milk procurement, ensuring fair
prices for farmers, and maintaining product quality. These cooperatives
continue to influence the market significantly. Furthermore, dairy processing
units have embraced modern technologies to enhance product quality, safety, and
efficiency. These innovations have led to the production of high-quality dairy
products meeting international standards.
India is the largest milk producer globally, with a
vast network of dairy farmers contributing to this volume. This consistent
supply of raw milk forms the foundation for the dairy industry. Additionally, dairy
products hold immense cultural and culinary significance in India. They are
integral to various festivals, rituals, and everyday meals. This cultural
attachment drives consistent demand. Furthermore, with a steadily increasing
population, especially in urban areas, there is a growing consumer base for
dairy products. Urbanization often leads to dietary changes and increased dairy
consumption.
India's diverse cultural landscape results in a wide
range of dietary preferences. This diversity has spurred the creation and
consumption of an extensive variety of dairy products, both regionally and
nationally. Additionally, the increasing focus on health and wellness has led
consumers to seek natural and nutrient-rich food options, further boosting the
demand for dairy products. Furthermore, India has made inroads into the
international dairy market, exporting products like buffalo milk, skimmed milk
powder, and ghee. This has opened up opportunities for growth and global
recognition.
Ensuring consistent product quality and safety remains
a challenge, particularly in the unorganized sector. Adherence to quality
standards and hygiene practices is crucial. Additionally, managing the supply
chain for perishable dairy products can be complex. Maintaining the freshness
of products during transportation and distribution is a constant challenge.
Furthermore, the dairy supply chain is vulnerable to price fluctuations due to
factors like feed costs, weather conditions, and market dynamics. These
fluctuations can impact both farmers and consumers.
The dairy industry is subject to stringent regulatory
requirements related to product standards and quality. Compliance can be
challenging for smaller producers. Additionally, the dairy sector's
environmental footprint, including issues related to methane emissions and
water usage, has raised concerns about sustainability and environmental impact.
Adopting sustainable dairy farming practices, such as
organic and eco-friendly methods, presents an opportunity to cater to
environmentally conscious consumers and access premium markets. Additionally, developing
innovative dairy products, including lactose-free options, dairy alternatives,
and fortified products, can tap into evolving consumer preferences.
Furthermore, expanding exports of dairy products to international markets
offers the opportunity for growth and economic development.
India dairy products market is segmented into product
type, sales channel, and region.
Based on product type, the market is segmented into butter,
cheese, cream, dairy desserts, milk, sour milk drinks, yogurt. Among these, milk
segment has a significant share in the India dairy products market. Milk, often
referred to as "white gold" in India, serves as a primary source of
nutrition and forms the basis for a multitude of dairy products consumed across
the country.
Based on region, the market is segmented into East,
West, North, and South. Among these, the North region has a significant
share of the India dairy products market. The North region features a mix of
urban and rural populations, each with its distinct dairy consumption patterns.
Urbanization has led to increased demand for packaged dairy products, while
rural areas continue to rely on traditional dairy items. This diversity allows
dairy producers to cater to a wide range of preferences.
Major companies operating in India dairy products market
are:
- Britannia Industries
- Dodla Dairy Ltd
- Gujarat Cooperative Milk Marketing
Federation Ltd
- Hatsun Agro Product Ltd
- Karnataka Cooperative Milk Producers
Federation Ltd
- Mother Dairy Fruit & Vegetable
Pvt. Ltd
- Nestlé SA
- Parag Milk Foods Ltd
- Rajasthan Co-operative Dairy
Federation Ltd
- Tamil Nadu Cooperative Milk Producers
Federation Ltd
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“The India dairy
products market is poised for continued growth and evolution. As the country's
population continues to rise and consumer preferences change, dairy products
will remain a vital part of the Indian diet. Meeting the challenges and
embracing the opportunities presented by this dynamic market will be essential
for stakeholders across the dairy supply chain. In conclusion, the India dairy
products market is a multifaceted and crucial sector, deeply ingrained in the
nation's cultural and culinary heritage. It has experienced impressive growth
and transformation, driven by changing consumer preferences, health awareness,
technological advancements, and the country's position as a dairy production
powerhouse.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“India Dairy Products Market By Product Type
(Butter, Cheese, Cream, Dairy Desserts, Milk, Sour Milk Drinks, Yogurt), By
Sales Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, and
Others), By Region, By Competition Forecast & Opportunities, 2019-2029F, has evaluated
the future growth potential of India dairy products market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers make sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India dairy products market.
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