Dairy Industry in India to Cross INR 18,599 Billion by 2023

Dairy Industry in India to Cross INR 18,599 Billion by 2023
The dairy industry in India is encountering a healthy growth rate, over the recent years. Some of the factors which has further given impetus to the market are rising population, changing lifestyles, increasing health-consciousness, demand for ready-to-eat, etc.

Dairy products refer to the items that are manufactured using milk of sheep, goat, buffaloes, etc. These products play an essential part in everyday diet as they are chock-full of healthy nutrients like calcium, protein, vitamins, potassium, magnesium, zinc and fats. Besides this, they offer numerous health benefits which include strengthening bones, maintaining blood pressure, reducing the risk of osteoporosis, cardiovascular disease and type 2 diabetes. Currently, India is known as the largest producer of milk as well as milk products in the world. The majority of the industry remains highly unorganised dominated by a large number of small and marginal dairy farmers. A new research report titled “Dairy Industry in India 2018 Edition: Market Size, Growth, Prices, Segments, Cooperatives, Private Dairies, Procurement and Distribution” by IMARC Group estimates that the Indian dairy industry was worth a value of INR 7,916 Billion in 2017. The report further anticipates the market to cross a value of INR 18,599 Billion by 2023, exhibiting a CAGR of around 15% during the 2018-2023.

 

Dairy industry in India Drivers/Constraints:

  • One of the primary factors propelling the market growth of dairy products is mounting population and elevating disposable incomes. Due to this, a large section of population is willing to spend more on milk and milk products.
  • Changing eating patterns and rising health-consciousness amongst the consumers remain some of the factors that have resulted in a shift towards organic dairy products. This has in turn stimulated the growth of the dairy industry in India.
  • Owing to the rise in the working population, the demand for ready-to-eat products is witnessing a soaring demand. Moreover, the Government of India has provided various subsidies in order to promote the production of dairy products.
  • Dairy products being a perishable commodity, having low shelf-life, requires a reliable as well as cost-effective cold chain transportation infrastructure. However, India does not have adequate cold chain facilities to serve the dairy industry.

Dairy Product Insights:

Based on the product type, liquid milk dominates the dairy industry in India. Liquid milk is followed by flavoured and frozen yogurt and cheese, UHT milk, flavoured milk, curd, lassi, butter milk, probiotic dairy products, table butter, ghee, paneer, khoya, skimmed milk powder, dairy whiteners, ice cream, dairy sweets, cream, whey and sweet condensed milk.

Want more information about this market? Request a free reportsample

Regional Insights:

On a geographical front, Uttar Pradesh enjoys a leading position in the dairy industry on account of its high demand in India. This is due to the rising investments in establishing milk processing plants in the region. Uttar Pradesh is followed by Rajasthan, Gujarat, Madhya Pradesh, Andhra Pradesh and Punjab.

Competitive Landscape:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. There is a rigid competition in the market which makes it tough for small players to survive. Some of the leading players operating in the market are:

  • Private Dairies
    • Nestlé India Limited
    • Hatsun Agro Product Limited
    • Tirumala Milk Products Pvt Ltd
    • Milk Food Limited
    • Heritage Foods India Limited
  • Dairy Co-operatives
    • Gujarat Co-operative Milk Marketing Federation Ltd
    • Mother Dairy Fruits & Vegetables Pvt Limited
    • Karnataka Co-operative Milk Producers Federation Limited
    • Rajasthan Cooperative Dairy Federation Ltd (RCDF)
    • Tamilnadu Cooperative Milk Producers Federation Ltd (TCMPF)


Browse related reports:

Flavoured Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

 

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact
Company Name: IMARC Group
Contact Person: Anand Ranjan
Email: Send Email
Phone: +1-631-791-1145
Country: United States
Website: https://www.imarcgroup.com/