Lassi refers to a sweet or savoury beverage with a thick creamy consistency which is made by churning curd or yogurt. Also known as buttermilk, lassi represents one of the most popular beverages in India, particularly in the northern parts of the country. It has a sour taste and is consumed by either adding salt and spices, or sugar and fresh fruit chunks to it. Besides being consumed as a refreshing and hydrating drink, lassi is also considered as a complete meal. Some of the popular flavours of lassi include strawberry, mango, rose, pistachio, almond, etc. A new research report by IMARC Group, titled “Lassi Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was around INR XX Billion in 2017, registering a CAGR of 21% during the year 2010-2017. The report further anticipates the market to reach a value of INR 47.2 Billion by 2023, at a projected CAGR of XX% over the forecast period.
Lassi in India Market Drivers/Constraints:
- The consumption of lassi offers numerous health advantages such as aiding digestion, preventing stomach problems, promoting the growth of healthy bacteria, improving bone health and boosting the immune system. As a result of these benefits, the consumption of lassi has experienced a positive thrust in the region.
- The manufacturers are introducing various packaging solutions, such as single-serve and family packs in both PET bottle and Tetra Pak formats. They are also providing packaging options with longer shelf-life and increased convenience which are, in turn, catalysing the market growth.
- Some of the other factors augmenting the demand for lassi across the region include inflating incomes of the consumers, thriving food and beverage industry and growing population.
- The major factor constraining the growth of the Indian lassi market is the increasing preference for home-made lassi which is negatively influencing the profitability of the manufacturers.
Regional Insights:
On a geographical front, Maharashtra represents the largest market for lassi in India. Other major regions include Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa.
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Competitive Landscape:
The lassi market in India is characterised with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- GCMMF
- Mother Dairy
- Punjab State Cooperative Milk Producers’ Federation Limited
- Milan Dairy Foods Private Limited
- Rajasthan Cooperative Dairy Federation Limited
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