One of the largest in the world, Indian livestock market has a bovine population of
299.9 million. This includes cattle, buffalo, Mithun, and yak. With new cooperative milk industry projects coming in, the growth of the Indian dairy and milk processing market is likely to see a steep growth in the next few years. Indian dairy industry Outlook 2023 may view a bigger picture for the economy and overcoming the long-faced challenges.

Dairy And Milk Processing Market In India (1)

Market insights:

At present, India leads the milk-producing industry in the world as its contribution to the global industry accounts for ~19% in total market share. As per the Indian dairy industry Analysis, the milk processing market of India expands with CAGR of ~14.8% between FY 2018 by 2023. With this, the market is expected to reach INR 2,458.7 Bn in FY 2023.

In India, dairy is one of the major parts of daily consumables and that makes the demand for milk rise as the population of the economy increases. More than 50% of the Indian dairy and milk processing industry were known to be an unorganized sector until late 2018. The deteriorated quality of milk and nutrition level was shown with unhygienic environments.

Indian states and industry insights:

UP, Rajasthan and Gujarat remain some of the major dairy industry regions of India with UP topping the list. Gujarat has various cooperative dairy milk unions, private dairy plants, and primary cooperative societies. On the other hand, UP has the highest buffalo and one of the highest cattle population in India.

Product-wise segments:

Butter, curd, paneer, ghee, whey, flavored milk, cheese, yogurt, etc are some of the value-added products in the Indian milk processing industry. Speaking of the market sizes, the butter market is expected to expand by 14.5%, curd by 14.4%, paneer by 14.1%, and ghee by 14.1%, among others.

Export-import:

Bhutan, Afghanistan, Canada, Egypt, the UAE are some of the major countries where India exports its dairy products. The Indian economy also imports certain dairy products from countries such as Italy, Ukraine, France, Ireland, New Zealand.

Category: Agriculture and Food Market Research Reports

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