Companies capitalizing on trend by launching ealth-centric products
The Indian dairy market https://www.wfp.org/ is projected to reach Rs.49,953.5 billion by 2032, recording a CAGR of 12.88% during 2023-2032, propelled by technological innovation, enhanced retail and e-commerce platforms, and improved cold chain infrastructure, meeting rising consumer demand with a diversified and quality-focused product range, says an industry report.
It was Rs.16,792.1 billion in 2023, said the report “Dairy Industry in India 2024 Edition: Market Size, Growth, Prices, Segments, Cooperatives, Private Dairies, Procurement and Distribution” by ResearchAndMarkets.
One of the primary factors propelling the Indian dairy industry https://www.investindia.gov.in/ is the increasing consumption due to population growth and rising income levels. With the continual expansion of the population, the demand for dairy products is surging, providing a substantial consumer base for the industry.
Increased affluence has enabled a larger segment of the population to spend more on nutritious food items, with dairy products being a traditional staple in Indian diets. This combination of demographic expansion and enhanced purchasing power has compelled dairy producers to scale up operations and innovate, ensuring steady market growth, said the report.
As the most populous state with a robust agrarian economy, Uttar Pradesh is home to the largest number of dairy animals in the country, significantly contributing to India’s overall milk production.
The Indian dairy industry is also driven by growing health consciousness among consumers. There is an escalating preference for dairy products as a source of essential nutrients like proteins, vitamins, and minerals https://www.ibef.org/ , said the report.
“This demand extends beyond conventional dairy items to value-added products such as flavored yogurts, fortified milk, and probiotic drinks,” the report said on 7 Mar 2024.
Dairy companies are capitalizing on this trend by launching a range of health-centric products, effectively tapping into consumers’ desire for wellness through diet.
There is a significant shift towards value-added dairy products like cheese, yogurt, flavored milk, and probiotic drinks https://ncdfi.coop/ , according to the report.
These products offer greater margins and cater to the evolving consumer preferences for health, convenience, and variety. The demand for these products is being driven by increasing health awareness, the rising middle class, and changing dietary habits.
“Dairy companies are investing in new product development and marketing strategies to capture this growing segment, diversifying beyond traditional milk products,” said the report.
Dairy Cooperatives:
Gujarat Co-operative Milk Marketing Federation Ltd
Mother Dairy Fruits & Vegetables Pvt Limited
Karnataka Co-operative Milk Producers Federation Limited
Rajasthan Cooperative Dairy Federation Ltd (RCDF)
Tamil Nadu Cooperative Milk Producers Federation Ltd (TCMPF)
Punjab State Cooperative Milk Producers Federation Ltd (MILKFED)
Orissa State Cooperative Milk Producers Federation Ltd (OMFED)
Maharashtra Rajya Sahakari Dudh Mahasangh Maraydit (Mahasangh)
Bihar State Co-operative Milk Producers Federation Ltd (COMFED)
Haryana Dairy Development Cooperative Federation Ltd (HDDCF)
Madhya Pradesh State Cooperative Dairy Federation Ltd (MPCDF)
Pradeshik Cooperative Dairy Federation Ltd (PCDF). Fiinews.com
