According to the report by Expert Market Research (EMR), the Indian dairy market size reached a value of approximately INR 9,918.0 billion in 2023. Aided by the increasing shift towards value-added dairy products and the rising demand for organic and fortified dairy products, the market is projected to grow at a CAGR of around 14.0% in the forecast period of 2024-2032, reaching a value of around INR 32,081.4 billion by 2032.
Dairy refers to food products that are derived from the milk of mammals, primarily cows, but also goats, sheep, and other animals. These products play a significant role in many diets around the world and are valued for their nutritional content, versatility in cooking, and distinct flavours.
The Indian dairy market, one of the largest and fastest-growing sectors in the world, is experiencing significant transformation, driven by a myriad of factors, including changing consumer preferences, advancements in technology, and supportive government policies. India, being the largest producer and consumer of milk globally, plays a pivotal role in shaping the global dairy landscape. The trends in the market reflect a dynamic interplay of traditional practices and modern innovations, catering to a diverse and expanding consumer base.
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One of the most prominent trends in the Indian dairy market is the shift towards value-added dairy products. Traditionally, the market was dominated by liquid milk consumption; however, there has been a notable increase in the demand for value-added products such as cheese, yoghurt, paneer, butter, ghee, and flavoured milk.
This shift is primarily driven by changing dietary habits, increasing urbanisation, and a growing middle-class population with higher disposable incomes. Consumers are now more health-conscious and are seeking nutritious, convenient, and premium dairy products. The rise of organised retail and e-commerce platforms has further facilitated the availability and accessibility of these value-added products, contributing to their growing popularity.
Another significant Indian dairy market trend is the increasing emphasis on health and wellness, which has led to a surge in demand for organic and fortified dairy products. Consumers are becoming more aware of the nutritional benefits of dairy, and there is a growing preference for products that are free from artificial additives, preservatives, and antibiotics.
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Organic milk and dairy products, which are perceived as healthier and more sustainable, are gaining traction in the market. Additionally, fortified dairy products enriched with vitamins, minerals, and probiotics are also witnessing increased demand, driven by the growing awareness of their health benefits and the need for enhanced nutrition.
Technological advancements and innovations are playing a crucial role in shaping Indian dairy market trends. The adoption of modern dairy farming practices, such as automated milking systems, precision farming, and advanced breeding techniques, is improving productivity and efficiency.
These innovations are helping to address challenges related to milk quality, yield, and animal health, thereby enhancing the overall supply chain. Moreover, advancements in cold chain infrastructure and logistics are ensuring the safe and efficient distribution of dairy products across the country, reducing spoilage and extending shelf life.
The proliferation of dairy startups and the increasing investments by governments are also significant trends driving the Indian dairy market growth. Numerous startups are entering the market with innovative products and business models, focusing on niche segments such as A2 milk, lactose-free dairy products, and artisanal cheeses.
These startups are leveraging technology to enhance production, distribution, and customer engagement, thereby creating new growth opportunities in the market. The increasing venture capital and private equity investments are further fuelling the growth of these startups and the overall market.
Government policies and initiatives are playing a vital role in supporting the growth of the Indian dairy market. The government’s focus on enhancing milk production, improving animal health, and promoting dairy entrepreneurship through various schemes and subsidies is driving the market expansion. Initiatives such as the National Dairy Development Board’s (NDDB) National Dairy Plan and the Rashtriya Gokul Mission are aimed at strengthening the dairy infrastructure, improving breed quality, and ensuring the availability of high-quality fodder.
Market Segmentation
The Indian dairy market can be divided based on product, sales channel, and region.
Market Breakup by Product
- Liquid Milk
- UHT Milk
- A2 Milk
- Organic Milk
- Flavoured Milk
- Curd
- Lassi
- Butter Milk (Chach)
- Flavoured and Frozen Yoghurts
- Cheese
- Probiotic Dairy Products
- Butter
- Ghee
- Paneer
- Khoya
- Dairy Whitener
- Skimmed Milk Powder
- Ice-Cream
- Dairy Sweets
- Cream
- Milk Shake
- Sweet Condensed Milk
- Others
Market Breakup by Sales Channel
- Direct Selling
- Convenience Stores
- Supermarkets and Hypermarkets
- Online
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Indian dairy market. Some of the major players explored in the report by Expert Market Research are as follows:
- Dairy Cooperatives
- Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF)
- Karnataka Co-operative Milk Producers Federation Limited (KMF)
- Orissa State Cooperative Milk Producers Federation Ltd (OMFED)
- Maharashtra Rajya Sahakari Dudh Mahasangh Maraydit
- Punjab State Cooperative Milk Producers Federation Limited
- Others
- Private Companies
- Mother Dairy Fruits & Vegetables Pvt Limited
- Britannia Industries Ltd.
- Nestle India Limited
- VRS Foods Limited
- Parag Milk Foods Limited
- Sterling Agro Industries Limited
- Kwality Limited
- KSE Limited
- Others
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