According to the report by Expert Market Research (EMR), the global ghee market reached around USD 6.92 million tons in 2023. Aided by the increasing global culinary interest and rising disposable incomes, the market is projected to grow at a CAGR of 4.2% between 2024 and 2032 to reach nearly 10.01 million tons by 2032.
Ghee, also known as clarified butter, is a popular dairy product in many cultures, particularly in the Indian subcontinent, where it is used extensively in cooking and religious rituals. The growing global demand for ethnic and nutritious food products, along with the increasing awareness of the health benefits provided by ghee, such as aiding digestion and reducing inflammation, are key drivers of the global ghee market growth.
One of the significant factors propelling the global ghee market development is the expanding Asian diaspora and the rising popularity of ethnic foods across various regions. In countries like the United States, Canada, and parts of Europe, there is a growing consumer inclination towards incorporating exotic and traditional elements into everyday cooking, which has substantially increased the demand for authentic ingredients like ghee. Additionally, the global trend towards natural and minimally processed foods has positioned ghee as a preferred choice for health-conscious consumers.
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Ghee is rich in vitamins A, E, and D, and butyric acid, which plays a critical role in digestive health and has anti-inflammatory properties. These health benefits are increasingly recognised by health enthusiasts and dietitians, making ghee a sought-after component in various diets, including ketogenic and paleo diets, where high-fat content is essential. Moreover, ghee is lactose-free, making it a suitable alternative for individuals with lactose intolerance, further propelling the global ghee market expansion.
In culinary applications, ghee is celebrated for its high smoke point, which makes it an excellent fat for high-temperature cooking, such as frying and sautéing. Its rich, nutty flavour enhances the taste profile of various dishes, from traditional Indian meals to contemporary fusion cuisines. Industrially, ghee is also being explored for use in the production of ayurvedic medicines and cosmetic products, leveraging its natural properties to benefit skin and hair health. This is one of the key ghee market trends.
The largest market for ghee is the Asia Pacific, particularly India, which not only leads in consumption but also production. The tradition of using ghee in daily meals and religious offerings sustains its high demand in this region. Meanwhile, North America and Europe are rapidly catching up, fuelled by increasing immigration, globalisation of culinary tastes, and the rising adoption of ghee in health-oriented diets.
Despite the promising growth prospects, the ghee market faces challenges such as fluctuating milk prices and potential supply chain disruptions which could affect ghee production costs and pricing. Moreover, the competition from plant-based alternatives is intensifying, particularly in Western markets where veganism is gaining momentum.
However, opportunities abound in the form of increasing demand for organic and grass-fed ghee products, which are perceived as healthier and more sustainable. Additionally, the growing interest in traditional and functional foods offers ample scope for market expansion through product innovation and marketing strategies that highlight the unique benefits of ghee. This is expected to drive the global ghee market growth.
In summary, the global ghee market is set for robust growth over the next five years, driven by its health benefits, culinary versatility, and cultural significance. As consumers increasingly seek out natural and wholesome ingredients, ghee stands out as a product with both traditional appeal and modern relevance, making it a valuable addition to the global food market landscape.
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Market Segmentation
The market can be divided based on source, end use, distribution channel, and region.
Market Breakup by Source
- Cow
- Buffalo
- Mixed
Market Breakup by End Use
- Retail
- Institutional
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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 global ghee market. Some of the major players explored in the report by Expert Market Research are as follows:
- Gujarat Cooperative Milk Marketing Federation Ltd. (Amul)
- Britannia Industries
- Milkfood Limited
- Nestlé S.A.
- Others
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