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- Liquid Milk Market in India Catalysed by Developments in the Dairy Industry
Liquid Milk Market in India Catalysed by Developments in the Dairy Industry
July 19, 2017
Liquid milk is the most widely consumed dairy product in India and accounts for more than half of the total dairy products market revenues. The latest report by IMARC Group, titled “Liquid Milk Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2021”, finds that the liquid milk market in India reached a value of INR 3,611 Billion in 2017, exhibiting a CAGR of nearly 14% during 2010-2017. Liquid milk is an important source of essential nutrients required for the proper development of the body, such as carbohydrates, proteins, vitamins A & D, calcium, phosphorus, and natural enzymes. These nutrients help in strengthening the skeletal system, lowering the risk of cardiovascular diseases, boosting metabolism, along with improving the overall immunity.
Highlights of the liquid milk market in India:
- The market is driven primarily by steady developments in the dairy industry.
- Maharashtra represents the largest market, accounting for the majority of the share.
- The market is expected to reach a value of INR 8,657 Billion by 2023.
In India, the market for liquid milk is accelerated by several factors. As a result of urbanisation and increasing health awareness among the consumers, the demand for liquid milk has risen tremendously. Apart from this, a major restructuring of the dairy industry, and its evolution from being an unorganised sector into an organised one, has also thrust impetus to the growth of the market. Although still largely an unorganised sector, the transformation in the market has been significant. Over the years, manufacturers have adopted sophisticated modes of upgrading the quality and increasing the quantity of milk production in India. Additionally, the use of advanced technology and expansion in the channels of distribution have ensured the extended shelf-life of liquid milk. The market is further expected to reach a value of INR 8,657 Billion by 2023, growing at a CAGR of 15.7% during 2018-2023.
The report provides a thorough analysis of the current and historical value and volume trends, market share of key players and market forecast for each of the state. At present, Maharashtra represents the largest market. Maharashtra is followed by Uttar Pradesh and Andhra Pradesh. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are GCMMF, KMF, Mother Dairy, TN Cooperative, and Rajasthan Cooperative Dairy Federation Limited.
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