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India Dairy Market Assessment, By Product Type [Liquid Milk, Dry Milk, Ghee/Clarified Butter, Butter, Cheese, Yogurt, Ice Cream, Others], By End-User Industry [Households, Hotels/Restaurants/Cafes, Offices, Educational Institutions/Hostels, Others], By Market Type [Organized, Unorganized], By Distribution Channel [E-Commerce, Supermarkets/Hypermarkets, Brand Stores (E.g., Mother Dairy Outlets, etc.), Convenience/Departmental Stores, Others], By Area [Rural, Urban], By Region, Opportunities, and Forecast, FY2017-FY2031F
Market Report I 2024-04-19 I 81 Pages I Market Xcel - Markets and Data
India Dairy Market was valued at USD 199.61 billion in FY2023 and is anticipated to reach to USD 489.62 billion by the year end FY2031 growing at a CAGR of 13.68% during the forecast period FY2024-FY2031. 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.
Technological Transformation
The 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 Products
The 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.
Impact of COVID-19 on India Dairy Market
The 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 Market
The 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.
1. India Dairy Market, By Product Type
1.1. Liquid Milk
1.2. Dry Milk
1.3. Ghee/Clarified Butter
1.4. Butter
1.5. Cheese
1.6. Yogurt
1.7. Ice Cream
1.8. Others
2. India Dairy Market, By End-User
2.1. Households
2.2. Hotels/Restaurants/Cafes
2.3. Offices
2.4. Educational Institutions/Hostels
2.5. Others
3. India Dairy Market, By Market Type
3.1. Organised
3.2. Unorganised
4. India Dairy Market, By Distribution Channel
4.1. E-Commerce
4.2. Supermarkets/Hypermarkets
4.3. Brand Stores (e.g., Mother Dairy Outlets, etc.)
4.4. Convenience/Departmental Stores
4.5. Others
5. India Dairy Market, By Area
5.1. Rural
5.2. Urban
6. India Dairy Market, By Region
6.1. East
6.2. West and Central
6.3. North
6.4. South
Key Player Landscape and Outlook
Dairy market in India is more regional rather than being a national one with a highly fragmented supply. The market is characterised by the presence of a few significant small- to medium-sized local firms in addition to the major players. Key players in the India Dairy Market are listed as under.
Key Players Operating in India Dairy Market
1. Gujarat Cooperative Milk Federation
2. Tamil Nadu Cooperative Milk Producers Federation Limited (Aavin)
3. Odisha State Cooperative Milk Producers Federation (OMFED)
4. West Assam Milk Producers' Co-operative Union Ltd. (Purabi)
5. Punjab State Cooperative Milk Producers' Federation Limited (MILKFED/Verka)
6. Bihar State Milk Co-operative Federation Ltd (Sudha)
7. Jammu & Kashmir Milk Producer's Co-operative Limited (Snow Cap)
8. Kwality Ltd.
9. Heritage Foods Limited
10. Hatsun Agro Product Ltd
11. Akshayakalpa Farms and Foods Pvt. Ltd
12. Parag Milk Foods and Pride of Cows
13. Mak Biotek (iOrganic)
14. Nestle India Ltd.
15. Country Delight Ltd.
1) Research Methodology
2) Product Overview
3) India Dairy Market Pre and Post COVID-19
4) Impact of Russia-Ukraine War on India Dairy Market
5) Executive Summary
6) Voice of Customer
Consumer Survey would be done separately for Baby Boomers: 1946 - 1964. Gen X: 1965 - 1976. Gen Y / Millennials: 1977 - 1995. Gen Z / iGen / Centennials 1995 - 2010
a) Packaged Products vs Fresh Products
b) Brand Awareness and Loyalty
c) Brand Satisfaction
i) Quality
ii) Quantity
iii) Price
iv) Quantity wrt Price
v) Packaging
vi) Shelf Life
d) Factors Considered in Purchase Decision
e) Channel of Purchase
f) Frequency of Purchase
7) India Dairy Market Outlook, FY2017-FY2031F
a) Market Size & Forecast
i) By Value
ii) By Volume
b) Market Share & Forecast
i) By Product Type
(1) Liquid Milk
(2) Dry Milk
(3) Ghee/Clarified Butter
(4) Butter
(5) Cheese
(6) Yogurt
(7) Ice Cream
(8) Others
ii) By End-User
(1) Households
(2) Hotels/Restaurants/Cafes
(3) Offices
(4) Educational Institutions/Hostels
(5) Others
iii) By Market Type
(1) Organized
(2) Unorganized
iv) By Distribution Channel
(1) E-Commerce
(2) Supermarkets/Hypermarkets
(3) Brand Stores (E.g., Mother Dairy Outlets, etc.)
(4) Convenience/Departmental Stores
(5) Others
v) By Area
(1) Rural
(2) Urban
vi) By Region
(1) North
(2) East
(3) West & Central
(4) South
vii) By Company Market Share (%), FY2023
8) Market Mapping, FY2023
i) By Product Type
ii) By End User Industry
iii) By Market Type
iv) By Distribution Channel
v) By Area
vi) By Region
9) Driving Factors of Demand
a) Technology
b) Livestock
c) Dairy Farming
d) Healthcare
10) Supply Demand Analysis (Country Level)
11) Import Export Analysis (Country Level)
12) Market Dynamics (Country Level)
a) SWOT Analysis
i) Key Drivers
ii) Challenges
iii) Growth/Innovation Opportunities
iv) Suspected Threats (Macro & Micro)
b) Price Analysis
c) Case Studies
13) Market Trends & Developments
a) New Age Startups
b) Packaging Innovations
c) Privatisation of Dairy Sector
d) Demand for Organic Products
14) Programs Launched by Government of India for Demand Enhancement
15) Regulatory Policies & Legal Framework
16) Competitive Landscape
a) Competition Matrix of Market Leaders
b) Market Revenue Analysis of Market Leaders (in %, 2023)
c) Emerging Players and Substitutes
d) Mergers & Acquisitions/ Joint Ventures (If applicable)
17) Competitive Outlook
a) Gujarat Cooperative Milk Marketing Federation
i) Company Details
ii) Key Management Personnel
iii) Products & Services
iv) Financials (As reported)
v) Key Market Focus & Geographical Presence
vi) Recent Developments
b) Tamil Nadu Cooperative Milk Producers Federation Limited (Aavin)
c) Odisha State Cooperative Milk Producers Federation (OMFED)
d) West Assam Milk Producers' Co-operative Union Ltd. (Purabi)
e) Punjab State Cooperative Milk Producers' Federation Limited (MILKFED/Verka)
f) Bihar State Milk Co-operative Federation Ltd (Sudha)
g) Jammu & Kashmir Milk Producer's Co-operative Limited (Snow Cap)
h) Kwality Ltd.
i) Heritage Foods Limited
j) Hatsun Agro Product Ltd
k) Akshayakalpa Farms and Foods Pvt. Ltd
l) Parag Milk Foods and Pride of Cows
m) Mak Biotek (iOrganic)
n) Nestle India Ltd.
o) Country Delight Ltd.
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per the information available during research work
18) Strategic Recommendations
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