India Dairy Market Value - By Type (Butter, Cheese, Milk [Loose Milk and Packaged Milk], Dairy Deserts, Milk Powder, Curd & Yogurt, Cream), By Distribution Channel (Specialty Retailers, Supermarkets/Hypermarkets, Online Retail Stores), By Industry Analysis, Size, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• India Dairy Market size valued at USD 117.87 Billion in 2022.
• The market is expected to expand at a CAGR of 9.1% from 2023 to 2032. 
• By the end of the forecast period, the market is anticipated to reach a valuation of around USD 279.29 Billion.

Quality and safety standards in dairy production are gaining prominence, with manufacturers investing in stringent quality control measures. Dairy companies are introducing value-added products like fortified milk, flavored yogurt, and protein-enriched dairy to cater to diverse consumer preferences. Lactalis India launched its first probiotic yoghurt drink, Lactel Turbo Yoghurt Drink, in Chennai in August 2021. The company intends to target the "on-the-go youth" with mango and strawberry flavours.

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Market Overview:

The India Dairy Market, a cornerstone of the nation's agricultural and culinary heritage, stands as one of the world's largest and most dynamic dairy sectors. The Indian dairy sector contributes 5% to the national economy and employs over 8 crore farmers directly. Uttar Pradesh, Himachal Pradesh, Maharashtra, Madhya Pradesh, Rajasthan, Punjab, and Tamil Nadu are the top producers in India.

The market begins with the prolific production of milk from a multitude of sources, including dairy cattle, buffaloes, goats, and more. This abundant supply forms the lifeblood of a diverse range of dairy products, extending far beyond fresh milk to include ghee, butter, yogurt, cheese, and an assortment of culturally significant items like paneer (cottage cheese).

The distribution network of the India Dairy Market is extensive, ensuring that dairy products are readily accessible to consumers across the nation. Milk cooperatives, dairies, local retailers, and modern e-commerce platforms all play pivotal roles in delivering these nourishing products to Indian households.

Dairy consumption in India transcends mere sustenance; it is deeply intertwined with tradition, culture, and nutrition. Dairy products are not only consumed as standalone items but also form essential ingredients in a myriad of traditional and contemporary culinary creations. Moreover, the India market extends its influence to international realms through exports of dairy commodities like milk powder and ghee, contributing to the nation's global footprint.

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Growth Drivers:

• Rising Population and Urbanization: India's burgeoning population, along with increasing urbanization, is a significant driver of the dairy market. As more people move to urban areas, the demand for dairy products, including milk, yogurt, and cheese, continues to grow.
   
• Health and Wellness Trends: The demand for healthier dairy options, such as low-fat and probiotic products, is on the rise as consumers become more health-conscious. Manufacturers are responding with innovative and health-oriented dairy products.
   
• Government Initiatives: Government programs and initiatives to promote dairy farming and increase milk production, like the National Dairy Plan, have boosted the dairy sector. These programs provide support to farmers and enhance dairy infrastructure.
   
• Value-Added Products: Manufacturers are introducing value-added dairy products such as flavored yogurt, fortified milk, and dairy-based snacks. These products cater to diverse consumer preferences and drive market growth.

Restraints:

• Quality and Safety Concerns: Maintaining consistent quality and safety standards throughout the dairy supply chain can be challenging, potentially leading to concerns about the purity and safety of dairy products.
   
• Supply Chain Challenges: The dairy industry faces supply chain challenges, including transportation and storage issues, which can lead to spoilage and wastage of dairy products, especially in rural areas.

By Type Synopsys:       

The market is classified by type into butter, cheese, milk (loose milk and packaged milk), dairy deserts, milk powder, curd & yogurt, cream, and others. Among these segments, the milk segment accounted for the largest share in 2022 and is estimated to dominate the Indian Dairy Market during the forecast period. Milk is an essential dietary staple in India, consumed by a vast majority of the population on a daily basis. While packaged milk is preferred for its convenience and assurance of quality, loose milk remains prevalent, especially in rural areas.   

By Distribution Channel Analysis:  

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The India Dairy Market is classified by distribution channel into specialty retailers, supermarkets/hypermarkets, online retail stores, and others. Among these segment, the supermarkets/hypermarkets segment accounted for the largest revenue share in 2022. These large-format stores provide consumers with a comprehensive selection of dairy products, offering convenience, variety, and access to both local and global brands. They are particularly prevalent in urban and suburban areas and are favored by consumers seeking a wide range of dairy choices under one roof.

While supermarkets/hypermarkets dominate, online retail stores have been growing rapidly, especially in urban centers, driven by changing consumer preferences for online shopping convenience. Additionally, specialty retailers remain crucial, especially in rural areas, where they serve immediate dairy needs. These platforms provide a comprehensive range of dairy products, including fresh and packaged options. They offer convenience and a wide product selection, allowing consumers to order dairy items from the comfort of their homes and have them delivered.  

Top Companies Includes In The India Dairy Landscape:

• Anik Industries Limited
• Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) 
• Heritage Foods Limited  
• Karnataka Cooperative Milk Producers Federation Limited  
• Kwality Milk Foods Ltd  
• Milk food Limited  
• National Dairy Development Board  
• Parag Milk Foods  
• Punjab State Cooperative Milk Producers Federation Ltd (MILKFED)  
• Rajasthan Cooperative Dairy Federation Ltd (RCDF)  
• Tamil Nadu Cooperative Milk Producers Federation Ltd (TCMPF)  
• Amul (Gujarat Cooperative Milk Marketing Federation Ltd.)
• Others

Recent Developments:

• In October 2022, MILKFED, the Punjab State Cooperative Milk Producers Federation Ltd, has decided to launch the Verka milk and milk product brand in Delhi. The contract benefited the state's milk producers and farmers. The goal of this agreement was to benefit dairy farmers by providing maximum support and good prices to these farmers while supplementing their income.

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In-depth analysis of India Dairy Market along with industry coverage and forecasting for the following segments:

Market Size, By Type

• Butter
• Cheese
• Milk (Loose Milk and Packaged Milk)
• Dairy Deserts
• Milk Powder 
• Curd & Yogurt
• Cream
• Others

Market Size, By Distribution Channel

• Specialty Retailers
• Supermarkets/Hypermarkets
• Online Retail Stores
• Others