Prabhat Dairy to Invest in Cheese

India: The company is planning to setup Cheese manufacturing plant at its Shrirampur facility in Ahmednagar district of Maharashtra. The plant is being setup with an estimated cost of USD20.6 million. With the increasing demand of Cheese from street-side cafes and food service outlets is making the product an attractive segment in the Indian dairy industry.

According to TechSci Research, this new setup would boost the sales of the company further especially in the commercial segment with huge demand arising from the Indian fast-food sector and from the residential consumers in the country. The company is planning to cater to the hotels, restaurants and caterers in the country which is anticipated to generate huge revenue.

According to a recent report published by TechSci Research, “India Dairy Products Market Forecast & Opportunities, 2011 – 2021’’, the market for dairy products in India is projected to grow at a CAGR of over 7% during 2016 - 2021. In 2015, North India dominated the country’s dairy products market, on account of increasing per capita expenditure, rising youth population, introduction of value added dairy products, changing consumption patterns, and growing penetration of international players. India dairy products market is witnessing a shift towards healthier products such as probiotic drinks, yogurts, 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 flavored yogurts and probiotic drinks, milk with low fat and cholesterol content, different cheese variants, etc.