India Dairy Market : Size, Future, Growth, Trends, Forecast Analysis |
Posted: January 23, 2025 |
India Dairy Market was valued at USD 226.9 billion in FY2024 and is anticipated to reach to USD 632.8 billion by the year end FY2032 growing at a CAGR of 13.68% during the forecast period FY2025-FY2032. The rise in diet consciousness among generation Z and millennials, has led to an increased preference of high-protein diets that tends to boost sales of dairy products such as cheese and yogurt. Also, the trend of door-step deliveries, e-commerce, and many new-age advancements have propelled the much-anticipated growth of the dairy market in India. The dairy market has a varied range of products such as milk and many value-added products like butter, ghee (clarified butter), paneer, khoa, curd, and skim milk powder and modern dairy products with additional value, such as ice cream, cheese, yoghurt, and whey. Regardless of region, milk consumption is a routine part of the diet in India because of its healthy nutrient contents like calcium, proteins, phosphorus, and vitamins. More than 80 million farmers are directly supported by the industry and contributes 5% to the national economy. Click Here:https://www.marketsandata.com/industry-reports/india-dairy-market Technological TransformationThe Indian dairy business has seen considerable growth in the last few years owing to the new-age technology-driven solutions. Such solutions are helping in transformation of dairy market with the introduction of health tracking devices for cattle, robotic milking machine, e-commerce marketplaces and Biotechnology. Among this, biotechnology is the young and growing technology of all. Consumers are highly becoming health-conscious and informed about the process involved in preparation of what they consume. Product traceability is another way that helps consumer know about the process pf collection, packaging, shipped and sorting of the milk or other dairy products that they consume, by using a QR code. Expansion in Demand for Specialty Dairy ProductsThe dairy business in India has been exclusively focused on milk from cows and buffaloes and milk-based products for many years. This established tradition has turned over in the last few years by rise in internet usage and increased consumer awareness. Consumers today are extensively moving toward better, healthier options like camel or goat milk. Consumers are becoming more interested in specialty dairy goods like goat milk ghee and flavour-infused camel milk powder. Government Schemes For the growth of the milk industry in India, the government has launched several schemes and programmes. Some of them are designed to increase opportunities in India's dairy industry such as NPDD aiming to boost systematic milk production and improve the quality of milk products and milk. The Rastriya Gokul Mission and Dairy Entrepreneurship Development Scheme (DEDS) are few among many other schemes launched by the Indian government. Additionally, the increasing efforts of various state-run dairy producers to expand their consumer bases through improved distribution networks, economic pricing, and diverse product offerings. These efforts increase accessibility and affordability, in both rural and urban locations, creating consistent demand. By promoting dairy consumption and supporting local farmers, state-run dairies ensure sustainable growth, enhancing the overall industry’s economic resilience and encouraging further investment, thus driving the market’s expansion. For instance, in November 2024, the Karnataka Milk Federation (KMF) launched its Nandini brand dairy products in the Delhi-NCR market, aiming to utilize surplus milk production. The launch, attended by Karnataka Chief Minister Siddaramaiah, introduced four milk variants and Nandini curd and buttermilk, priced competitively against rivals like Mother Dairy and Amul. KMF plans to sell 3-4 lakh liters daily in the region, expanding its market presence. Impact of COVID-19 on India Dairy MarketThe dairy business encountered challenges in the early period of the COVID-19 pandemic, painting a changed market outlook in terms of demand and supply. Early on, there was a rapid transition in supply from small-scale dairy farmers to huge co-operatives, which led to this supply demand imbalance. Many producers and cooperatives had to forcibly exit the marketplace due to unavailability or affordability of the facility requirements. Additionally, Covid-19 has revolutionised the purchasing pattern of the consumers moving more towards online purchases due to enforced policies of lockdown and no-touch point sales. Several dairy players recognise that food safety has fuelled a growing preference among consumers for packaged and branded goods. Impact of Russia-Ukraine War on India Dairy MarketThe dairy market in India witnessed a diverse impact of the prolonged war between Russia and Ukraine directly impacting the shipments of raw materials to manufacture the animal feed, as a result Indian suppliers surging the costs of the final goods sold leading to a change in the dairy market landscape. About Us: Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies. Contact Mr. Vivek Gupta 5741 Cleveland street, Suite 120, VA beach, VA, USA 23462 Tel: +1 (757) 343-3258 Email: [email protected] Website: https://www.marketsandata.com
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