According to the latest report by IMARC Group, titled "Dairy Industry in Bihar: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the dairy industry in bihar reached a volume of 5.32 Million Tons in 2021. The dairy industry involves the production and processing of animal milk for human consumption. The milk is generally obtained from goats, cows, sheep, and buffalos, which is further used to prepare multiple dairy products. These products are a rich source of essential nutrients, such as calcium, proteins, vitamins, zinc, and magnesium, that help in maintaining dental and bone health. Apart from this, their consumption aids inimproving the natural balance of the gut microbiota that results in strong metabolism and immune system, thereby providing a boost to the sales of dairy products across Bihar
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Dairy Industry in Bihar Market Trends:
The dairy industry in Bihar is primarily driven by the rising funding and investments by the public and private agencies in order to upgrade the existing dairy infrastructure. In line with this, numerous initiatives undertaken by the state government to support the dairy industry by introducing fiscal reliefs to farmers are providing an impetus to the market growth. Moreover, the increasing health-consciousness among the masses and the rising preference to lead a healthy lifestyle have led to the growing consumption of dairy productsacross the state, which is creating a positive outlook for the market. Along with this, various technological advancements,such as the introduction of mobile applications that provide pertinent information regarding dairy farming, are also driving the market toward growth. Rapid digitization and the rising penetration of high-speed internet connectivity across Bihar are positively influencing the market growth further. Some of the other factors contributing to the market growth include continuous improvements in the e-commerce sector and the easy availability of cattle dietary products across the state. On account of the aforementioned factors, the market is anticipated to reach a volume of 7.01 Million Tons by 2027, growing at a CAGR of 4.5% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into liquid milk, ghee, curd, paneer, ice-cream, table butter, skimmed milk powder, frozen/flavored yoghurt, fresh cream, lassi, butter milk, cheese, flavored milk, UHT milk, dairy whitener, sweet condensed milk, infant food, and malt based beverages. Among these, liquid milk accounts for the largest market share in Bihar.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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