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IMARC Group’s latest report, titled “Dairy Industry in Punjab: Market Size, Growth, Prices, Segments, Cooperatives, Private Dairies, Procurement and Distribution”, offers an in-depth analysis of the Punjab dairy market. The milk production in Punjab mainly consists of cow and buffalo milk. According to the report, the Punjab dairy market size reached INR 422.5 Billion in 2021. Looking forward, the market is expected to reach INR 976.3 Billion by 2027, exhibiting a growth rate (CAGR) of 14.96% during 2022-2027.
Based on the product type, this report has categorized the Punjab dairy market into 18 major product segments:
For each of the product segments, the report provides a thorough analysis of the current and historical value and volume trends, market share of key players and market forecast. Currently, liquid milk represents the biggest product segment in Punjab, accounting for majority of the market share. Some of the fastest growing segments include frozen/flavoured yoghurt, probiotics milk drinks, cheese, UHT milk, flavoured milk. The competitive landscape of Punjab’s dairy market has also been examined in this report. Some of the major players covered in the report include Milkfed (Verka), Chanakya Dairy, Amul and Supreme Agro Foods Ltd.
The study provides a detailed evaluation of the dairy market landscape in Punjab, covering the current, historical and future trends for milk production, milk production by cattle, milk procurement prices, etc. The report also offers SWOT, Value Chain and Porter’s Five Forces analysis of Punjab dairy market along with market segmentation by product type and an analysis of the competitive landscape. The study is based on both desk research and multiple waves of qualitative primary research. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Punjab dairy market in any manner.
The dairy industry in Punjab was valued at INR 422.5 Billion in 2021.
We expect the dairy industry in Punjab to exhibit a CAGR of 14.96% during 2022-2027.
The evolution of the dairy industry from an unorganized to a relatively organized sector and the increasing consumption of different value-added products, such as cheese, probiotic drinks, yogurt, etc., are primarily driving the dairy industry in Punjab.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of dairy products in Punjab.
Based on the product type, the dairy industry in Punjab can be bifurcated 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. Currently, liquid milk exhibits a clear dominance in the market.
Some of the major players in the dairy industry in Punjab include Milkfed (Verka), Chanakya Dairy, Amul, and Supreme Agro Foods Ltd.
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