DUBLIN–(BUSINESS WIRE)–The “Dairy Industry in India 2024 Edition: Market Size, Growth, Prices, Segments, Cooperatives, Private Dairies, Procurement and Distribution” report has been added to ResearchAndMarkets.com’s offering.
The dairy industry in India size reached INR 16,792.1 billion in 2023. The market is projected to reach INR 49,953.5 billion by 2032, exhibiting a growth rate (CAGR) of 12.88% during 2023-2032, propelled by technological innovation, enhanced retail and e-commerce platforms, and improved cold chain infrastructure, meeting rising consumer demand with a diversified and quality-focused product range.
One of the primary factors propelling the Indian dairy industry is the increasing consumption due to population growth and rising income levels. With the continual expansion of the population, the demand for dairy products is surging, providing a substantial consumer base for the industry. Increased affluence has enabled a larger segment of the population to spend more on nutritious food items, with dairy products being a traditional staple in Indian diets. This combination of demographic expansion and enhanced purchasing power has compelled dairy producers to scale up operations and innovate, ensuring steady market growth.
As the most populous state with a robust agrarian economy, Uttar Pradesh is home to the largest number of dairy animals in the country, significantly contributing to India’s overall milk production. The dairy sector in the state thrives due to government initiatives, a strong network of milk cooperatives, and effective procurement and distribution systems.
The high demand for dairy products in the state is met by the rising investments in milk processing plants. A large part of this industry is sustained by small and marginal dairy farmers. Additionally, the growing population and increasing disposable incomes in the state have led to a higher expenditure on milk and milk products.
Growing Health Awareness Among Indian Consumers
The Indian dairy industry is also driven by growing health consciousness among consumers. There is an escalating preference for dairy products as a source of essential nutrients like proteins, vitamins, and minerals. This demand extends beyond conventional dairy items to value-added products such as flavored yogurts, fortified milk, and probiotic drinks. Dairy companies are capitalizing on this trend by launching a range of health-centric products, effectively tapping into consumers’ desire for wellness through diet.
Impact of Pandemic on Consumer Behavior and Dairy Industry
The pandemic has led to a significant shift in consumer behavior, with a growing preference for milk and dairy products as nutritional supplements. This change from procurement centers to retail outlets initially overwhelmed distribution logistics. However, the Indian dairy industry adapted by implementing operational flexibility in business models and supply chain simplification. This resilience and adaptability have been crucial in maintaining the industry’s integrity during challenging times.
A significant trend reshaping the Indian dairy industry is the evolution of distribution channels, particularly with the emergence of Business-to-Consumer (B2C) startups. These startups often leverage digital platforms for direct delivery. With the rise of e-commerce and online grocery shopping, many new-age dairy startups are offering subscription-based models, home delivery services, and digitally enabled supply chains. This approach not only ensures freshness and quality but also caters to the convenience sought by modern consumers.
These startups often focus on premium, organic, or specialized dairy products, differentiating themselves from traditional retail channels. By using data analytics and consumer insights, these B2C startups are able to understand consumer preferences and offer personalized services. This shift is not only changing consumer buying habits but also forcing traditional players to rethink their distribution strategies, leading to a more consumer-centric dairy market in India.
Technological Advancements in Dairy Processing
Technological innovations are playing a crucial role in transforming the dairy industry. This includes advancements in dairy farm management, milk processing, packaging, and supply chain logistics. Technologies like automation, Internet of Things (IoT), and artificial intelligence (AI) are being employed to enhance efficiency, improve product quality, and ensure safety. These technologies also aid in better farm management practices, allowing for higher productivity and sustainability. Additionally, the adoption of cold chain technologies ensures that dairy products retain their freshness and nutritional value during transportation and storage.
Shift Towards Value-Added Dairy Products
There is a significant shift towards value-added dairy products like cheese, yogurt, flavored milk, and probiotic drinks. These products offer greater margins and cater to the evolving consumer preferences for health, convenience, and variety. The demand for these products is being driven by increasing health awareness, the rising middle class, and changing dietary habits. Dairy companies are investing in new product development and marketing strategies to capture this growing segment, diversifying beyond traditional milk products.
Competitive Landscape
The key players are actively implementing strategic initiatives to solidify and enhance their market presence. They are concentrating on diversifying their product ranges to incorporate options that are both health-centric and convenience-oriented, such as probiotic drinks, high-protein yogurts, and lactose-free products.
These players are utilizing advanced technologies to boost production efficiency and optimize supply chains, thereby not only elevating product quality but also aligning their offerings with changing consumer preferences and international food safety norms. These efforts are part of a broader strategy to expand their market reach through strategic partnerships, appointments, and collaborations, underpinning the growth and dynamism of the dairy industry in India.
Dairy Industry in India Snapshot:
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 121 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (INR) in 2023 | INR 16.79 Trillion |
| Forecasted Market Value (INR) by 2032 | INR 49.95 Trillion |
| Compound Annual Growth Rate | 12.8% |
| Regions Covered | India |
Some of the key players include:
Dairy Cooperatives:
Private Dairies:
Dairy Industry in India Segmentation:
Breakup by Segment:
Breakup by Region:
For more information about this report visit https://www.researchandmarkets.com/r/56tgnm
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HONG KONG SAR - Media OutReach Newswire - 20 December 2024 - The first baijiu…
The all-weather indoor sportainment complex, JOYPOLIS SPORTS HONG KONG, grandly opens today. With five stories…
"Global Multi-Currency Accounts" Empowers SMEs with New Market Opportunities SHANGHAI, CHINA - Media OutReach Newswire…
"Global Multi-Currency Accounts" Empowers SMEs with New Market Opportunities SHANGHAI, CHINA - Media OutReach Newswire…
GUANGZHOU, CHINA - Media OutReach Newswire - 20 December 2024 - This year marks the…
HONG KONG SAR - Media OutReach Newswire - 20 December 2024 - A research team…
