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India Dairy Market Derive Growth, Share, Revenue and Forecast to 2030
The India dairy market size was valued at USD 115.57 billion in 2022. The market is projected to grow from USD 124.93 billion in 2023 to USD 227.53 billion by 2030, exhibiting a CAGR of 8.94% during the forecast period. India is one of the largest exporters of dairy products. Major producers in India are Uttar Pradesh, Maharashtra, Himachal Pradesh, Madhya Pradesh, Rajasthan, Punjab, and Tamil Nadu. Growing demand for functional dairy products is set to propel the India dairy market share. Fortune Business Insights™ shares this information in its report titled “India Dairy Market, 2019-2030.”
Drivers and Restraints
Significant Production of Milk in India to Propel Market Growth
Significant production of milk in the country is projected to drive the India dairy market growth. The dairy industry has been one of the dynamic sectors in the Indian agricultural industry and has witnessed phenomenal growth in its production and consumption. High availability of milk in the country boosts the production of value-added or processed products such as cheese, butter, curd, yogurt, ghee, and paneer. In addition, milk has a strong demand in Indian households, which drives market growth. The industry in India helps the country in its socioeconomic development.
However, lack of supply of fodder and emergence of various diseases in cattle are expected to hamper the market expansion.
Competitive Landscape
Prospects of New Key Players to Create Competitive Advantage
With expanding consumption of liquid milk and milk products, the demand for milk has been increasing in the country. Prominent players are expanding their businesses by establishing numerous manufacturing facilities, opening their outlets in different markets, and launching new products. In September 2020, Tata entered into the milk category under its brand Tata NQ and launched skimmed milk powder in a pack of 25kg for institutional customers.
Key Industry Development
October 2022: Punjab State Cooperative Milk Producers Federation Ltd (MILKFED) launched the Verka milk and milk products brand in Delhi. The aim of this launch was to offer dairy farmers with maximum support and good prices to these farmers.
List of Key Players Profiled in the Report
Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) (India)
Heritage Foods Limited (India)
Karnataka Cooperative Milk Producers Federation Limited (India)
Kwality Milk Foods Ltd (India)
Milk food Limited (India)
National Dairy Development Board (India)
Parag Milk Foods (India)
Punjab State Cooperative Milk Producers Federation Ltd (MILKFED) (India)
Rajasthan Cooperative Dairy Federation Ltd (RCDF) (India)
Tamil Nadu Cooperative Milk Producers Federation Ltd (TCMPF) (India)
Browse In-depth Summary of This Research Insight:
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Forage Seeds Market Growth Analysis, Varieties And Analysis Of Key Players – Forecasts To 2033
The global forage seeds market is forecast to reach a valuation of US$ 12,132.9 million in 2023 and further accelerate at a robust CAGR of 9.8% between 2023 and 2033.
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