India Dairy Market

Introduction of the India Dairy Market Report

Dairy products, also known as milk products, refers to the type of food that is produced from or contains milk of mammals such as cattle, goats, buffaloes, sheep, camels, and humans. Dairy products include food products such as yogurt, cheese, and butter. The different type of dairy products helps in building digestive health, improves the health of bones, decreases the risks of diseases, and various other benefits.

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Market Dynamic

Key Drivers and Emerging Trends

India is one of the leading producers and consumers of dairy products around the world with the increasing availability of milk and milk products. Dairy activities are considered an essential part of the rural Indian economy, thus acting as a major source of income and employment in the country. The Indian dairy market report and forecast analysis states that the government of India has introduced numerous schemes and initiatives with an aim to develop dairy industry in the country. As a part of the #startupindia, the Department of Animal Husbandry, dairying, and fisheries launched the Dairy Entrepreneurship Development Scheme (DEDA) for the generation of self-employment opportunities in the dairy industry by enhancing the milk production, procurement, preservation, transportation, processing and marketing of milk by offering back-ended capital subsidy for bankable projects. This initiative has further surged the demand of the Indian dairy market over the next few years.

India is producing more than 15% of the world’s total milk, which amounts to approximately INR 5 Lakh Cr. The country’s per capita yearly milk consumption was 68.72 in 2007, which increased to 84.5 in 2013 and is predicted to grow at a faster rate in the coming years. Moreover, the entrance of national and international players in the market has helped in growing its size and potential. The leading companies in the Indian dairy market are focusing on offering value-add products such as cheese, yogurt, probiotic drinks, and other dairy-related products in their product portfolio. This factor will support the surged growth of the market size of the dairy industry in India. Furthermore, the rising rate of population, increasing income level, and the rising health consciousness among Indian consumers are certain other factors that are propelling the demand of the market. The farmers in India now have access to numerous advanced technologies to quantify information in order to monitor different operations such as grass and herd management. In addition to this, the increasing usage of robotics, satellite systems, smartphone data applications, and drones is further opening new doors for the growth of the dairy market in India.

Restraint in the India Dairy Market

On the other hand, the strong demand for plant-based food products is one of the biggest factors that is likely to hamper the growth of the dairy industry market share in terms of revenue.

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Product Type – Segment Analysis

Based on the product type, the milk segment is anticipated to dominate the market during the forecast period. This is mainly attributed to the strong demand for milk in India. According to the National Development Board (NDDB), the demand for milk is predicted to touch 180 million tonnes by the end of 2020. In addition to this, the rising population rate, higher income level, and the increasing health consciousness are further surging the growth of the segment in the dairy market in India.

Distribution Channel – Segment Analysis

Based on the Distribution Channel, the supermarkets/hypermarkets segment is projected to grow at a faster CAGR during the forecast period. The availability of a wide range of milk brands under one roof is one of the biggest factors that is driving the segment growth. Moreover, the significant shift in the individual’s preference to purchase grocery products through this channel is further responsible for the growth of the market.

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Key Developments:

• • In 2018, Fonterra Group Cooperative Limited entered into a joint venture with one of the country’s largest consumer company, Future Consumer Ltd., to produce a wide range of consumer and foodservice dairy products to cater to the growing demand for high-quality dairy nutrition in India.

Segments covered in the Report:

The India Dairy market has been segmented on the basis of Product Type, Distribution Channel. Based on Product Type, the market is segmented into Milk, Cheese, Butter, Dairy Desserts, Yogurt, and Others. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail Stores, and others. 

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Key questions answered in this research report:

• • At what pace is India Dairy market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Dairy market? What will be the impact of drivers and restraints in the future?
  • Which Product Type generated maximum revenues in 2019 and identify the most promising Product Type during the forecast period?
  • What are the various Distribution Channel areas of India Dairy market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

India Dairy Market by Product Type

• • Milk
  • Cheese
  • Butter
  • Dairy Desserts
  • Yogurt
  • Others

India Dairy Market by Distribution Channel

• • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialist Retailers
  • Online Retail stores
  • Others