India Dairy Products Market to Grow at CAGR 7%

Rising health consciousness among consumers, growing demand for value added dairy products, increasing disposable income levels and changing lifestyles are forecast to drive dairy products market in India through 2021

According to TechSci Research report, “India Dairy Products Market By Product Type, Competition Forecast & Opportunities, 2011 – 2021’’, dairy market in India is projected to grow at a CAGR of over 7% during 2016 - 2021, due to growing demand for value added dairy products, rising disposable income levels and increasing health awareness among consumers. Changing consumer dietary patterns, rising awareness regarding nutritional values of dairy products, along with growing willingness of consumers to spend on non-conventional dairy products such as yogurts, probiotic drinks, etc., is propelling growth in India dairy products market.

Continuous population growth, liberalization of trade policies and rising investments in advertising are driving the country’s dairy products market. With new domestic and international players foraying into dairy products market in India, the market is witnessing introduction of various non-conventional dairy products such as flavoured yogurts and probiotic drinks, milk with low fat and cholesterol content, different cheese variants, etc.

Over the next five years, changing lifestyles of urban population and rising demand for healthy and convenient dairy products is anticipated to play an instrumental role in the growth of India dairy products market. Gujarat Cooperative Milk Marketing Federation Ltd., National Dairy Development Board, Karnataka Cooperative Milk Producers Federation Ltd., and Tamil Nadu Co-operative Milk Producers' Federation Limited, among others are few of the leading companies operating in India dairy products market.

“Independent dairy farmers or unorganized players dominate India dairy products market. Increasing participation of the private players in the country’s dairy products market is forecast to result in organized market share increasing over the next five years. Additionally, rapid urbanization and changing lifestyles are anticipated to drive demand for value added dairy products, especially among the consumer residing in metros. Indian government has also introduced various policies and schemes for small scale industries to establish high tech dairy plants in order to support production of high quality and value added dairy products.’’ said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.  

“India Dairy Products Market By Product Type, Competition Forecast & Opportunities, 2011 – 2021’’, has evaluated the future growth potential of India dairy products market and provides statistics and information on market structure, size and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in India dairy products market.