Buttermilk, also known as chaach, is obtained by churning fresh or pasteurized cream with little developed acidity. It is usually served cold after adding black salt, cumin powder and chopped coriander leaves. Broadly, there are two types of buttermilk available in the market – sweet cream and sour. It represents an integral part of a balanced diet and has been traditionally consumed as a refreshment drink for centuries in India. The recently released report by IMARC Group on the buttermilk market in India finds that the sales of buttermilk grew at a CAGR of 20.5% during 2014-2019. As it offers relief from the scorching heat of the sun, it has gained immense popularity in India as a result of the country’s extremely hot summers. The demand for buttermilk is also increasing as it is good for digestion and boosts immunity. Moreover, buttermilk is widely used as an ingredient in the manufacturing of ice creams, dairy-based sauces and a number of confectionery products, which has further resulted in its increased demand. Looking forward, IMARC Group expects the buttermilk market in India to exhibit strong growth during 2020-2025.
The report has examined the Indian buttermilk market in 15 major states:
- Maharashtra
- Uttar Pradesh
- Andhra Pradesh
- Tamil Nadu
- Gujarat
- Rajasthan
- Karnataka
- Madhya Pradesh
- West Bengal
- Bihar
- Delhi
- Kerala
- Punjab
- Orissa
- Haryana
For each of the states, the report provides a thorough analysis of the current and historical value and volume trends, market share of key players and market forecast. Currently, Tamil Nadu represents the region with highest market share in the country. The competitive landscape of the Indian buttermilk market has also been covered in this report. Some of the prominent players operating in the market include GCMMF, KMF, Mother Dairy, RCDF and Hatsun.
The study provides an in-depth analysis of the buttermilk market landscape in India, covering the current, historical and future trends for buttermilk production along with its prices. The report also offers SWOT, Value Chain and Porter’s Five Forces analysis of the Indian buttermilk market along with the breakup by segment, region, and an analysis of the competitive landscape. The study is based on both secondary research and multiple waves of qualitative primary research. It is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any stake or are planning to enter the Indian buttermilk market in any manner.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Indian Dairy Industry
5.1 Market Overview
5.2 Market Performance
5.3 Market by Organised and Unorganised Segment
5.4 Milk Production and Consumption Trends
5.4.1 Current and Historical Trends
5.4.2 Production and Consumption Forecast
5.5 Milk Production by State
5.6 Milk Production by Cattle
5.7 Milk Utilization Patterns in India
5.8 Market Forecast
6 Indian Buttermilk Industry
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Price Trends
6.3.1 Milk Procurement Price Trends
6.3.2 Buttermilk Price Trends
6.4 Market Breakup by Region
6.5 Market Forecast
6.6 SWOT Analysis
6.6.1 Overview
6.6.2 Strengths
6.6.3 Weaknesses
6.6.4 Opportunities
6.6.5 Threats
6.7 Value Chain Analysis
6.7.1 Raw Material Suppliers
6.7.2 Manufacturers
6.7.3 Marketing and Distributors
6.7.4 Exporters
6.7.5 Retailers
6.7.6 End-Consumers
6.8 Porter’s Five Forces Analysis
6.8.1 Overview
6.8.2 Bargaining Power of Buyers
6.8.3 Bargaining Power of Suppliers
6.8.4 Degree of Competition
6.8.5 Threat of New Entrants
6.8.6 Threat of Substitutes
6.9 Key Success Factors and Risk Factors
7 Performance of Key Regions
7.1 Karnataka
7.1.1 Market Performance
7.1.1.1 Volume Trends
7.1.1.2 Value Trends
7.1.2 Competitive Landscape
7.1.3 Market Forecast
7.1.3.1 Volume Trends
7.1.3.2 Value Trends
7.2 Maharashtra
7.2.1 Market Performance
7.2.1.1 Volume Trends
7.2.1.2 Value Trends
7.2.2 Competitive Landscape
7.2.3 Market Forecast
7.2.3.1 Volume Trends
7.2.3.2 Value Trends
7.3 Tamil Nadu
7.3.1 Market Performance
7.3.1.1 Volume Trends
7.3.1.2 Value Trends
7.3.2 Competitive Landscape
7.3.3 Market Forecast
7.3.3.1 Volume Trends
7.3.3.2 Value Trends
7.4 Delhi
7.4.1 Market Performance
7.4.1.1 Volume Trends
7.4.1.2 Value Trends
7.4.2 Competitive Landscape
7.4.3 Market Forecast
7.4.3.1 Volume Trends
7.4.3.2 Value Trends
7.5 Gujarat
7.5.1 Market Performance
7.5.1.1 Volume Trends
7.5.1.2 Value Trends
7.5.2 Competitive Landscape
7.5.3 Market Forecast
7.5.3.1 Volume Trends
7.5.3.2 Value Trends
7.6 Andhra Pradesh and Telangana
7.6.1 Market Performance
7.6.1.1 Volume Trends
7.6.1.2 Value Trends
7.6.2 Competitive Landscape
7.6.3 Market Forecast
7.6.3.1 Volume Trends
7.6.3.2 Value Trends
7.7 Uttar Pradesh
7.7.1 Market Performance
7.7.1.1 Volume Trends
7.7.1.2 Value Trends
7.7.2 Competitive Landscape
7.7.3 Market Forecast
7.7.3.1 Volume Trends
7.7.3.2 Value Trends
7.8 West Bengal
7.8.1 Market Performance
7.8.1.1 Volume Trends
7.8.1.2 Value Trends
7.8.2 Competitive Landscape
7.8.3 Market Forecast
7.8.3.1 Volume Trends
7.8.3.2 Value Trends
7.9 Kerala
7.9.1 Market Performance
7.9.1.1 Volume Trends
7.9.1.2 Value Trends
7.9.2 Competitive Landscape
7.9.3 Market Forecast
7.9.3.1 Volume Trends
7.9.3.2 Value Trends
7.10 Haryana
7.10.1 Market Performance
7.10.1.1 Volume Trends
7.10.1.2 Value Trends
7.10.2 Competitive Landscape
7.10.3 Market Forecast
7.10.3.1 Volume Trends
7.10.3.2 Value Trends
7.11 Punjab
7.11.1 Market Performance
7.11.1.1 Volume Trends
7.11.1.2 Value Trends
7.11.2 Competitive Landscape
7.11.3 Market Forecast
7.11.3.1 Volume Trends
7.11.3.2 Value Trends
7.12 Rajasthan
7.12.1 Market Performance
7.12.1.1 Volume Trends
7.12.1.2 Value Trends
7.12.2 Competitive Landscape
7.12.3 Market Forecast
7.12.3.1 Volume Trends
7.12.3.2 Value Trends
7.13 Madhya Pradesh
7.13.1 Market Performance
7.13.1.1 Volume Trends
7.13.1.2 Value Trends
7.13.2 Competitive Landscape
7.13.3 Market Forecast
7.13.3.1 Volume Trends
7.13.3.2 Value Trends
7.14 Bihar
7.14.1 Market Performance
7.14.1.1 Volume Trends
7.14.1.2 Value Trends
7.14.2 Competitive Landscape
7.14.3 Market Forecast
7.14.3.1 Volume Trends
7.14.3.2 Value Trends
7.15 Orissa
7.15.1 Market Performance
7.15.1.1 Volume Trends
7.15.1.2 Value Trends
7.15.2 Competitive Landscape
7.15.3 Market Forecast
7.15.3.1 Volume Trends
7.15.3.2 Value Trends
8 Market Breakup by Retail Vs Institutional
8.1 Retail
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Institutional
8.2.1 Market Trends
8.2.2 Market Forecast
9 Competitive Landscape
9.1 Competitive Structure
9.2 Market Share of Key Players
10 Buttermilk Manufacturing Process
10.1 Product Overview
10.2 Detailed Process Flow
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.1 Land Requirements and Expenditures
11.2 Construction Requirements and Expenditures
11.3 Plant Machinery
11.4 Machinery Pictures
11.5 Raw Material Requirements and Expenditures
11.6 Raw Material and Final Product Pictures
11.7 Packaging Requirements and Expenditures
11.8 Transportation Requirements and Expenditures
11.9 Utility Requirements and Expenditures
11.10 Manpower Requirements and Expenditures
11.11 Other Capital Investments
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
14 Key Player Profiles
List of Figures
Figure 1: India: Buttermilk Market: Major Drivers and Challenges
Figure 2: India: Dairy Market (in Billion INR), 2014-2019
Figure 3: India: Dairy Market: Breakup by Segment (in %), 2019
Figure 4: India: Total Milk Production (in Million Metric Tons), 2014-15 – 2019-20
Figure 5: India: Total Milk Consumption (in Million Metric Tons), 2014-15 – 2019-20
Figure 6: India: Total Milk Production Forecast (in Million Metric Tons), 2020-21 – 2025-26
Figure 7: India: Total Milk Consumption Forecast (in Million Metric Tons), 2020-21 – 2025-26
Figure 8: India: Milk Utilisation Patterns
Figure 9: India: Dairy Market Forecast (in Billion INR), 2020-2025
Figure 10: Buttermilk Market: Price Structure (INR/Litre)
Figure 11: India: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 12: India: Buttermilk Market: Value Trends (in Billion INR), 2014-2019
Figure 13: India: Milk Market: Procurement Price Trends (in INR/Litre), 2014-2019
Figure 14: India: Buttermilk Market: Retail Price Trends (in INR/Litre), 2014-2019
Figure 15: India: Buttermilk Market: Breakup by Region (in %), 2019
Figure 16: India: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 17: India: Buttermilk Market Forecast: Value Trends (in Billion INR), 2020-2025
Figure 18: India: Buttermilk Industry: SWOT Analysis
Figure 19: India: Buttermilk Industry: Value Chain Analysis
Figure 20: India: Buttermilk Industry: Porter’s Five Forces Analysis
Figure 21: Karnataka: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 22: Karnataka: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 23: Karnataka: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 24: Karnataka: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 25: Karnataka: Buttermilk Market Forecast: Value Trends (in Million INR),2020-2025
Figure 26: Maharashtra: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 27: Maharashtra: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 28: Maharashtra: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 29: Maharashtra: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 30: Maharashtra: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 31: Tamil Nadu: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 32: Tamil Nadu: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 33: Tamil Nadu: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 34: Tamil Nadu: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 35: Tamil Nadu: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 36: Delhi: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 37: Delhi: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 38: Delhi: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 39: Delhi: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 40: Delhi: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 41: Gujarat: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 42: Gujarat: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 43: Gujarat: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 44: Gujarat: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 45: Gujarat: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 46: Andhra Pradesh and Telangana: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 47: Andhra Pradesh and Telangana: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 48: Andhra Pradesh and Telangana: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 49: Andhra Pradesh and Telangana: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 50: Andhra Pradesh and Telangana: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 51: Uttar Pradesh: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 52: Uttar Pradesh: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 53: Uttar Pradesh: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 54: Uttar Pradesh: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 55: Uttar Pradesh: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 56: West Bengal: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 57: West Bengal: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 58: West Bengal: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 59: West Bengal: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 60: West Bengal: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 61: Kerala: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 62: Kerala: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 63: Kerala: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 64: Kerala: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 65: Kerala: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 66: Haryana: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 67: Haryana: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 68: Haryana: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 69: Haryana: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 70: Haryana: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 71: Punjab: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 72: Punjab: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 73: Punjab: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 74: Punjab: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 75: Punjab: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 76: Rajasthan: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 77: Rajasthan: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 78: Rajasthan: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 79: Rajasthan: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 80: Rajasthan: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 81: Madhya Pradesh: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 82: Madhya Pradesh: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 83: Madhya Pradesh: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 84: Madhya Pradesh: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 85: Madhya Pradesh: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 86: Bihar: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 87: Bihar: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 88: Bihar: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 89: Bihar: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 90: Bihar: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 91: Orissa: Buttermilk Market: Volume Trends (in Million Litres), 2014-2019
Figure 92: Orissa: Buttermilk Market: Value Trends (in Million INR), 2014-2019
Figure 93: Orissa: Buttermilk Market: Breakup of Key Players (in %), 2019
Figure 94: Orissa: Buttermilk Market Forecast: Volume Trends (in Million Litres), 2020-2025
Figure 95: Orissa: Buttermilk Market Forecast: Value Trends (in Million INR), 2020-2025
Figure 96: India: Buttermilk Market: Retail Sales (in Million Litres), 2014 & 2019
Figure 97: India: Buttermilk Market Forecast: Retail Sales (in Million Litres), 2020-2025
Figure 98: India: Buttermilk Market: Institutional Sales (in Million Litres), 2014 & 2019
Figure 99: India: Buttermilk Market Forecast: Institutional Sales (in Million Litres), 2020-2025
Figure 100: India: Buttermilk Market: Breakup by Key Players (in %), 2019
Figure 101: Buttermilk Manufacturing: Detailed Process Flow
Figure 102: Buttermilk Manufacturing: Conversion Rate of Feedstocks
Figure 103: Buttermilk Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 104: Buttermilk Industry: Profit Margins at Various Levels of the Supply Chain
Figure 105: Buttermilk Production: Manufacturing Cost Breakup (in %)
List of Tables
Table 1: India: Dairy Market: Key Industry Highlights, 2019 and 2025
Table 2: India: Dairy Market: Milk Production Breakup by State, 2014-15 – 2019-20
Table 3: India: Dairy Market: Milk Production Breakup by Cattle, 2014-15 – 2019-20
Table 4: India: Buttermilk Market Forecast: Breakup by Region, 2020-2025
Table 5: India: Buttermilk Market Forecast: Breakup by End-Use, 2020-2025
Table 6: India: Buttermilk Market: Competitive Structure
Table 7: India: Buttermilk Market: Key Players
Table 8: Buttermilk Manufacturing Plant: Costs Related to Land and Site Development (in INR)
Table 9: Buttermilk Manufacturing Plant: Costs Related to Civil Works (in INR)
Table 10: Buttermilk Manufacturing Plant: Costs Related to Machinery (in INR)
Table 11: Buttermilk Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (INR/Ton)
Table 12: Buttermilk Manufacturing Plant: Costs Related to Salaries and Wages (in INR)
Table 13: Buttermilk Manufacturing Plant: Costs Related to Other Capital Investments (in INR)
Table 14: Details of Financial Assistance Offered by Financial Institutions
Table 15: Buttermilk Manufacturing Plant: Capital Costs (in INR)
Table 16: Buttermilk Manufacturing Plant: Techno-Economic Parameters
Table 17: Buttermilk Manufacturing Plant: Taxation and Depreciation (in INR)
Table 18: Buttermilk Manufacturing Plant: Income Projections (in INR)
Table 19: Buttermilk Manufacturing Plant: Expenditure Projections (in INR)
Table 20: Buttermilk Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in INR)
Table 21: Buttermilk Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in INR)
Table 22: Buttermilk Manufacturing Plant: Profit and Loss Account (in INR)