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Home Sectors Agriculture

Milk industry to grow at 14.8% in 2018-23

Fiinews by Fiinews
March 24, 2019
in Agriculture, Exports, Imports, Investment, Manufacturing
Reading Time: 2 mins read
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Increasing export potential

 

Kwality

 

India’s milk processing industry is expected to expand at a compound annual growth rate (CAGR) of ~14.8% between FY 2018 and FY 2023, reaching Rs.2,458.7 billion. 

Being one of the primary dairy consumables in India, the increase demand for milk in the country is owed to the increasing population. As of FY 2018, ~81.1% of the Indian dairy and milk processing market was part of the unorganized sector, which produces milk in unhygienic environments. This reduces the overall quality and nutrition levels of the milk produced.

Uttar Pradesh, Rajasthan, and Gujarat have been the major milk producing states in India. Uttar Pradesh is the largest dairy and milk-producing state because it is home to the highest buffalo population and the second-highest cattle population in the country.

The majority of the rural population in this state is engaged in livestock rearing and dairying. Gujarat has numerous cooperative dairy milk unions, private dairy plants, and primary milk cooperative societies, which play crucial roles in the production of milk in the state.

Apart from milk, the revenue of the Indian dairy and milk processing industry is generated from several value-added products such as butter, curd, paneer, ghee, whey, flavored milk, ultra-high temperature (UHT) milk, cheese, and yogurt. During the period FY 2016 to FY 2020, the market size of butter is expected to grow by 14.5%, curd by 14.4%, paneer by 14.1%, and ghee by 14.1%, among others.

Export-import

Indian dairy product exports have increased to countries like Bhutan, Afghanistan, Canada, Egypt, and the United Arab Emirates. India also imports a significant amount of dairy products from countries like France, New Zealand, Ireland, France, Ukraine, and Italy.

India’s livestock sector is regarded as one of the largest in the world with a bovine population of 299.9 Mn, which comprises of cattle, buffalo, mithun, and yak. The growth of the Indian dairy and milk processing market is ensured by the steady supply of milk which is the primary raw material for this industry.

Despite having a significant livestock base of milch animals, India lacks in terms of availability of cold storages which results in wastage of dairy output. Thus, the lack of sufficient storage facilities and inefficient distribution are hampering the growth of the Indian dairy and milk processing industry.

Recurring droughts and floods affect the production of fodder in India. Sufficient quantities of feed and fodder are required for proper animal rearing and milk production. Lack of proper feed and fodder for milch animals, due to high usage of agricultural crop residues by producers of fiberboard, paper, and liquid fuels, affect its availability for dairy production and milk processing.

As of 2018, India is the leading milk producing country in the world, accounting for ~19% of the global market share. The

Companies leading the industry are: Hatsun Agro Product Limited, Heritage Foods Limited, Kwality Limited, Parag Milk Foods Limited, Vadilal Industries Limited, Nestle India Limited, Creamline Dairy Products Limited, Gujarat Cooperative Milk Marketing Federation and Mother Dairy Fruit Vegetable Private Limited. fiinews.com

Tags: Creamline Dairy Products LimitedGujarat Cooperative Milk Marketing FederationHatsun Agro Product LimitedHeritage Foods LimitedKwality LimitedMother Dairy Fruit Vegetable Private Limited.Nestle India LimitedParag Milk Foods LimitedResearchAndMarketsVadilal Industries Limited
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