India Dairy Products Market: Growth Trends, Size, and Forecast (2024-2027)

Estimated Growth Rate for India Dairy Products Market

The India dairy products market is projected to reach approximately US$ 1216.57 million by 2027, driven by increasing milk production and rising per capita consumption. Key factors contributing to this growth include government initiatives, technological advancements, and a shift in consumer preferences towards value-added dairy products.

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India Dairy Products Market Growth Drivers & Opportunities

India has maintained its position as the world's largest milk producer since 1998, with milk production increasing from 17 million tonnes in 1950-51 to 176.4 million tonnes in 2017-18. This growth is attributed to initiatives like the White Revolution, which transformed India's dairy industry by promoting cooperative structures and modernizing production processes. The per capita availability of milk has also risen significantly, reaching 374 grams per day in 2018-19, surpassing the global average of 294 grams per day in 2019.

The dairy sector serves as a crucial source of income for millions of rural households, particularly small and marginal farmers. The cooperative model has empowered these farmers, with cooperative milk unions procuring an average of 507.69 lakh kilograms of milk per day in 2018-19, reflecting a 7% increase from the previous year. Additionally, the number of women members in dairy cooperatives reached 5.06 million, accounting for nearly 30% of total membership, highlighting the sector's role in promoting gender inclusivity.

Despite being the largest milk producer globally, India's share in the international dairy trade remains modest. The primary dairy products exported include Skimmed Milk Powder (SMP), butter, ghee, cheese, and buttermilk, with SMP constituting about 30% of total exports. Key export destinations are Turkey, the United Arab Emirates, Egypt, Bangladesh, Bhutan, the United States, Saudi Arabia, and Malaysia. This presents an opportunity to enhance India's presence in the global dairy market by focusing on quality standards and expanding export-oriented production.

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India Dairy Products Market Segmentation Analysis

The Indian dairy products market encompasses a diverse range of products, including liquid milk, ghee, butter, curd, paneer, and cheese. Liquid milk remains the most consumed dairy product, with cooperative sales reaching 354.53 lakh liters per day in 2018-19. Ghee and butter are integral to Indian cuisine, with their demand driven by both household consumption and the food service industry. Curd and paneer are staples in many regional diets, while cheese is gaining popularity, especially in urban areas, due to the influence of Western food habits.

The distribution channels for dairy products in India are evolving. Traditional outlets like local dairy shops and street vendors continue to dominate, but there is a growing presence of organized retail chains and e-commerce platforms. The shift towards organized retail offers consumers a wider variety of products and brands, while e-commerce provides the convenience of home delivery, catering to the urban populace's changing lifestyle.

India Dairy Products Market Country-Level Analysis

While the focus is on the Indian market, examining dairy industry trends in other countries offers valuable insights:

United States: The U.S. dairy industry is characterized by large-scale production and a high degree of mechanization. There is a growing consumer demand for organic and plant-based dairy alternatives, prompting traditional dairy producers to diversify their product lines.

Germany: Germany is one of Europe's leading dairy producers, with a strong emphasis on cheese and yogurt. Sustainability and animal welfare are becoming increasingly important to German consumers, influencing production practices and product offerings.

China: China has seen a rapid increase in dairy consumption, driven by urbanization and rising incomes. However, domestic production struggles to meet demand, leading to significant imports of dairy products, especially infant formula and liquid milk.

Japan: The Japanese dairy market is relatively small but growing, with a focus on high-quality and premium dairy products. There is also a trend towards functional dairy products that offer health benefits beyond basic nutrition.

Australia: Australia is a major exporter of dairy products, with a significant portion of its production destined for Asian markets. The industry emphasizes pasture-based farming and is exploring sustainable practices to reduce environmental impact.

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India Dairy Products Market Competitor Analysis

The Indian dairy market is highly competitive, featuring a mix of cooperative organizations, private companies, and multinational corporations. Prominent players include:

Amul (Gujarat Cooperative Milk Marketing Federation): As India's largest dairy cooperative, Amul offers a wide range of products and has a robust distribution network. Recent initiatives focus on expanding product lines and increasing export activities.

Mother Dairy: A subsidiary of the National Dairy Development Board, Mother Dairy is renowned for its milk and milk-based products. The company is investing in technology to enhance supply chain efficiency and product quality.

Nestlé India: A subsidiary of the global conglomerate Nestlé, the company offers dairy products under brands like Nestlé Milkmaid and Nestlé EveryDay. Recent developments include the introduction of fortified dairy products to address nutritional deficiencies.

Britannia Industries: Known for its dairy-based bakery products, Britannia is expanding its presence in the dairy segment with offerings like cheese, butter, and flavored milk. The company is focusing on product innovation and expanding its distribution reach.

Parag Milk Foods: Specializing in value-added dairy products, Parag Milk Foods offers brands like Gowardhan, Go, and Pride of Cows. The company is enhancing its product portfolio and exploring new markets to drive growth.

The competitive landscape is marked by strategic mergers and acquisitions, product innovations, and efforts to expand distribution networks. Companies are increasingly focusing on value-added products, such as flavored yogurts, probiotic drinks, and specialty cheeses, to cater to evolving consumer preferences.

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India Dairy Products Market Conclusion

The Indian dairy products market is on a robust growth trajectory, supported by increasing production, favorable government policies, and changing consumer preferences.

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