Dairy Industry in India 2024-2032
BROOKLYN, NY, USA, February 23, 2024 /EINPresswire.com/ — IMARC Group, a leading market research company, has recently releases report titled “Dairy Industry in India 2024 Edition: Market Size, Growth, Prices, Segments, Cooperatives, Private Dairies, Procurement and Distribution”. The study provides a detailed analysis of the industry, including the dairy industry in India share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Dairy Industry in India?
The dairy industry in India size reached INR 16,792.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 49,953.5 Billion by 2032, exhibiting a growth rate (CAGR) of 13% during 2024-2032.
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Factors Affecting the Growth of the Dairy Industry in India:
Increasing Population and Rising Income Levels: The dairy industry in India is experiencing significant growth, driven by the country’s increasing population and rising income levels. As the largest milk-producing nation globally, India’s dairy sector benefits from a growing domestic demand for milk and milk products. The rising income levels across urban and rural areas have enhanced the purchasing power of the average Indian consumer, leading to a shift in dietary preferences toward protein-rich foods, including dairy products. This demographic and economic transition is catalyzing the expansion of the dairy market, encouraging both local and international dairy businesses to invest and innovate within this burgeoning sector. The government’s supportive policies aimed at dairy development and rural livelihood enhancement further contribute to this growth, ensuring a steady supply of milk from millions of small-scale producers to meet the increasing demand.
Technological Advancements and Product Innovation: Technological advancements and product innovation are pivotal drivers of the dairy industry in India. The integration of modern technology in dairy farming practices, such as automated milking machines, advanced cooling systems, and efficient feed management software, has significantly increased milk production efficiency and quality. Additionally, the industry is witnessing a surge in product innovation, with companies introducing a wide range of value-added dairy products such as flavored yogurts, fortified milk, and cheese variants tailored to the Indian palate. These innovations cater to the evolving consumer preferences and open up new market segments, enhancing the competitiveness of the Indian dairy industry on a global scale. The focus on research and development to extend product shelf life and improve packaging for better transportation and storage is further propelling the industry forward, making dairy products more accessible to consumers across the country.
Government Support and Policy Initiatives: Government support and policy initiatives play a crucial role in driving the dairy industry in India. The Indian government has implemented several schemes and policies aimed at promoting dairy farming as a viable source of income for rural households. Initiatives such as the National Dairy Plan (NDP) and the Dairy Entrepreneurship Development Scheme (DEDS) are designed to enhance milk production, provide financial assistance to dairy farmers, and improve the infrastructure for milk processing and distribution. These efforts are complemented by training programs on best practices in dairy farming, aiming to increase productivity and ensure the sustainability of the dairy sector. Moreover, the government’s focus on strengthening the cooperative model has enabled small and marginal farmers to gain better access to markets, negotiate fair prices, and invest in improving the quality of their produce, thereby contributing significantly to the growth and development of the dairy industry in India.
Leading Companies Operating in the Dairy Industry in India:
Dairy Cooperatives:
• 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)
• Punjab State Cooperative Milk Producers Federation Ltd (MILKFED)
• Orissa State Cooperative Milk Producers Federation Ltd (OMFED)
• Maharashtra Rajya Sahakari Dudh Mahasangh Maraydit (Mahasangh)
• Bihar State Co-operative Milk Producers Federation Ltd. (COMFED)
• Haryana Dairy Development Cooperative Federation Ltd. (HDDCF)
• Madhya Pradesh State Cooperative Dairy Federation Ltd. (MPCDF)
• Pradeshik Cooperative Dairy Federation Ltd (PCDF)
Private Dairies:
• Nestle India Limited
• Hatsun Agro Product Limited
• Tirumala Milk Products Pvt Ltd.
• Milk Food Limited
• Heritage Foods India Limited
• VRS Foods Limited
• Bhole Baba Dairy Industries Ltd.
• Kwality Ltd.
• Sterling Agro Industries Limited
• Parag Milk Foods Limited
• SMC Foods Limited
Key Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Segment:
• Liquid Milk
• UHT Milk
• A2 Milk
• Organic Milk
• Flavored Milk
• Curd
• Lassi
• Butter Milk (Chach)
• Flavored and Frozen Yoghurts
• Cheese
• Probiotic Dairy Products
• Table Butter
• Ghee
• Paneer
• Khoya
• Dairy Whitener
• Skimmed Milk Powder
• Ice Cream
• Dairy Sweets
• Cream
• Whey
• Milk Shake
• Sweet Condensed Milk
Liquid milk accounts for the majority of the market share as it is a staple in the daily diet of millions of Indians, used in various forms from direct consumption to the preparation of tea, coffee, and traditional dishes.
Breakup by Region:
• Karnataka
• Maharashtra
• Tamil Nadu
• Delhi
• Gujarat
• Andhra Pradesh and Telangana
• Uttar Pradesh
• West Bengal
• Kerala
• Haryana
• Punjab
• Rajasthan
• Madhya Pradesh
• Bihar
• Orissa
Uttar Pradesh leads the market, accounting for the largest market share, due to its extensive dairy farming infrastructure, high cattle population, and significant investments in milk processing and distribution networks.
Indian Dairy Market Trends:
The dairy industry in India is witnessing an increasing consumer awareness regarding health and nutrition, which has led to a surge in demand for organic and A2 milk products, perceived to be healthier alternatives to conventional dairy offerings. This trend is encouraging dairy producers to explore organic farming practices and invest in cattle breeds known for A2 milk production, opening up niche market segments. Furthermore, the advent of dairy alternatives, such as soy, almond, and oat milk, reflects a growing segment of consumers leaning toward veganism or lactose intolerance, presenting opportunities for diversification. The integration of digital technology in the supply chain, from farm management to online retailing, is enhancing operational efficiencies and expanding market reach. The emphasis on sustainability and ethical practices is also gaining traction, with more businesses adopting eco-friendly packaging and reducing carbon footprints, aligning with global environmental concerns.
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