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Ghee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global ghee market size reached US$ 49.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.

Ghee refers to a clarified and unsalted form of butter that is caramelized and transformed into pure fat at a high smoking point. It is a good source of proteins, vitamins, potassium, phosphorus, calcium, selenium, antioxidants, butyric acids, and essential fatty acids, including omega 3 and 6. It provides numerous health benefits, such as improving digestion, boosting brain and heart health, lowering harmful cholesterol levels, and transporting vitamins throughout the body. As it is shelf-stable, rich in aroma and texture, and does not require refrigeration, ghee is widely used as a cooking oil in baked goods or for sauteing and deep-frying vegetables.

 

 
 

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Ghee Market Trends:

The growing awareness among consumers about the high nutritional value and associated health benefits of ghee, such as enhancing muscular strength, represents one of the key factors fueling the market growth. Apart from this, ghee is a powerful source of antioxidants and vitamin E, which is vital for skin tightening, maintaining collagen, and preventing wrinkles. This, in confluence with the increasing focus on maintaining fresh and a youthful skin, is contributing to the market growth. Moreover, rising disposable incomes and the growing preferences for packaged food products are catalyzing the demand for premium ghee, which is made using high-quality milk in hygienic and safe conditions to ensure its purity and quality. Besides this, manufacturers in the industry are focusing on improving their production process to extend the shelf life and fortify the ghee with necessary nutrients. This, along with the thriving food and beverage (F&B) industry, is anticipated to provide lucrative growth opportunities to the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global ghee market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on source, end user and distribution channel.

Breakup by Source:

 

 
 

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  • Cow
  • Buffalo
  • Mixed


Cow’s milk currently represents the most preferred source of making ghee worldwide, which can be attributed to its high nutritional profile.

Breakup by End User:

  • Retail
  • Institutional


The retail sector holds the majority of the market share on account of improved customer retention and engagement.

Breakup by Distribution Channel:

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online 
  • Others


Convenience stores dominate the market as they are easily accessible, have long operational hours and generally stock their products in small batches compared to other distribution channels.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion, Million Metric Tons
Segment Coverage Source, End User, Distribution Channel
Companies Covered SMC Group – Madhusudan, Amul, KMF,
VRS Foods, Nestle and RSD Group (Gopaljee)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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   Global Ghee Industry
    5.1    Market Overview
    5.2    Market Performance
        5.2.1    Volume Trends
        5.2.2    Value Trends
    5.3    Impact of COVID-19
    5.4    Price Analysis
        5.4.1    Key Price Indicators
        5.4.2    Price Structure
        5.4.3    Price Trends
    5.5    Market Breakup by Source
    5.6    Market Breakup by End User
    5.7    Market Breakup by Distribution Channel
    5.8    Market Breakup by Region
    5.9    Market Forecast
    5.10    SWOT Analysis
        5.10.1    Overview
        5.10.2    Strengths
        5.10.3    Weaknesses
        5.10.4    Opportunities
        5.10.5    Threats
    5.11    Value Chain Analysis
        5.11.1    Raw Material Procurement
        5.11.2    Manufacturing
        5.11.3    Marketing
        5.11.4    Distribution
        5.11.5    Exports
        5.11.6    End-Use
    5.12    Porter’s Five Forces Analysis
        5.12.1    Overview
        5.12.2    Bargaining Power of Buyers
        5.12.3    Bargaining Power of Suppliers
        5.12.4    Degree of Competition
        5.12.5    Threat of New Entrants
        5.12.6    Threat of Substitutes
     5.13    Key Success Factors and Risk Factors
6    Market Breakup by Source
     6.1    Cow
        6.1.1    Market Trends
        6.1.2    Market Forecast
     6.2    Buffalo
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Mixed
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by End User
    7.1    Retail        
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Institutional
        7.2.1    Market Trends
        7.2.2    Market Forecast
8   Market Breakup by Distribution Channel
    8.1    Supermarkets/Hypermarkets
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Convenience Stores
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Speciality Stores
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Online  
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Others   
        8.5.1    Market Trends
        8.5.2    Market Forecast
9   Competitive Landscape
    9.1    Market Structure
    9.2    Key Players
10  Ghee 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 Figure

Figure 1: Global: Ghee Market: Major Drivers and Challenges
Figure 2: Global: Ghee Market: Volume Trends (in Million Metric Tons), 2017-2022
Figure 3: Global: Ghee Market: Value Trends (in Billion US$), 2017-2022
Figure 4: Global: Ghee Market: Average Price Trends (in US$/Ton), 2017-2022
Figure 5: Ghee Market: Price Structure
Figure 6: Global: Ghee Market: Breakup by Region (in %), 2022
Figure 7: Global: Ghee Market: Breakup by Source (in %), 2022
Figure 8: Global: Ghee Market: Breakup by End User (in %), 2022
Figure 9: Global: Ghee Market: Breakup by Distribution Channel (in %), 2022
Figure 10: Global: Ghee Market Forecast: Volume Trends (in Million Metric Tons), 2023-2028    
Figure 11: Global: Ghee Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 12: Global: Ghee Market Forecast: Average Price Trends (in US$/Ton), 2023-2028
Figure 13: Global: Ghee Market (Cow): Volume Trends (in ‘000 Tons), 2017 & 2022
Figure 14: Global: Ghee Market Forecast (Cow): Volume Trends (in ‘000 Tons), 2023-2028
Figure 15: Global: Ghee Market (Buffalo): Volume Trends (in ‘000 Tons), 2017 & 2022
Figure 16: Global: Ghee Market Forecast (Buffalo): Volume Trends (in ‘000 Tons), 2023-2028
Figure 17: Global: Ghee Market (Mixed): Volume Trends (in ‘000 Tons), 2017 & 2022
Figure 18: Global: Ghee Market Forecast (Mixed): Volume Trends (in ‘000 Tons), 2023-2028
Figure 19: Global: Ghee Market (Retail): Volume Trends (in ’000 Tons), 2017 & 2022
Figure 20: Global: Ghee Market Forecast (Retail): Volume Trends (in ‘000 Tons), 2023-2028
Figure 21: Global: Ghee Market (Institutional): Volume Trends (in ‘000 Tons), 2017 & 2022
Figure 22: Global: Ghee Market Forecast (Institutional): Volume Trends (in ‘000 Tons), 2023-2028
Figure 23: Global: Ghee Market: Sales through Supermarkets/Hypermarkets (in ‘000 Tons), 2017 & 2022
Figure 24: Global: Ghee Market Forecast: Sales through Supermarkets/Hypermarkets (in ‘000 Tons), 2023-2028
Figure 25: Global: Ghee Market: Sales through Convenience Stores (in ‘000 Tons), 2017 & 2022
Figure 26: Global: Ghee Market Forecast: Sales through Convenience Stores (in ‘000 Tons), 2023-2028
Figure 27: Global: Ghee Market: Sales through Speciality Stores (in ‘000 Tons), 2017 & 2022
Figure 28: Global: Ghee Market Forecast: Sales through Speciality Stores (in ‘000 Tons), 2023-2028
Figure 29: Global: Ghee Market: Online Sales (in ‘000 Tons), 2017 & 2022
Figure 30: Global: Ghee Market Forecast: Online Sales (in ‘000 Tons), 2023-2028
Figure 31: Global: Ghee Market: Sales through Other Distribution Channels (in ‘000 Tons), 2017 & 2022
Figure 32: Global: Ghee Market Forecast: Sales through Other Distribution Channels (in ‘000 Tons), 2023-2028
Figure 33: Global: Ghee Industry: SWOT Analysis
Figure 34: Global: Ghee Industry: Value Chain Analysis
Figure 35: Global: Ghee Industry: Porter’s Five Forces Analysis
Figure 36: Ghee Manufacturing Plant: Detailed Process Flow
Figure 37: Ghee Manufacturing Process: Conversion Rate of Products
Figure 38: Ghee Manufacturing: Breakup of Capital Costs (in %)
Figure 39: Ghee Industry: Profit Margins at Various Levels of the Supply Chain
Figure 40: Ghee Production: Manufacturing Cost Breakup (in %)

List of Table

Table 1: Global: Ghee Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Ghee Market Forecast: Breakup by Source (in ‘000 Tons), 2023-2028
Table 3: Global: Ghee Market Forecast: Breakup by End User (in ‘000 Tons), 2023-2028
Table 4: Global: Ghee Market Forecast: Breakup by Distribution Channel (in ‘000 Tons), 2023-2028
Table 5: Global: Overview of Top Ghee Manufacturers
Table 6: Typical Composition of Ghee
Table 7: Ghee Manufacturing Costs Related to Land and Site Development (in US$)
Table 8: Ghee Manufacturing Costs Related to Civil Works (in US$)
Table 9: Ghee Manufacturing Costs Related to Milk Reception Section (in US$)
Table 10: Ghee Manufacturing Costs Related to Milk Processing Section (in US$)
Table 11: Ghee Manufacturing Costs Related to Separation Section (in US$)
Table 12: Ghee Manufacturing Costs Related to Butter Section (in US$)
Table 13: Ghee Manufacturing Costs Related to Ghee Section (in US$)
Table 14: Summary of Machinery Costs (in US$)
Table 15: Raw Material Requirements
Table 16: Costs Related to Salaries and Wages (in US$)
Table 17: Costs Related to Other Capital Investments (in US$)
Table 18: Details of Financial Assistance Offered by Financial Institutions
Table 19: Capital Costs (in US$)
Table 20: Techno-Economic Parameters
Table 21: Taxation and Depreciation
Table 22: Income Projections (in US$)
Table 23: Expenditure Projections (in US$)
Table 24: Cash Flow Analysis Without Considering the Income Tax Liability
Table 25: Cash Flow Analysis on Considering the Income Tax Liability
Table 26: Profit and Loss Account


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Key Questions Answered in This Report

The global ghee market was valued at US$ 49.2 Billion in 2022.

We expect the global ghee market to exhibit a CAGR of 7% during 2023-2028.

The growing awareness regarding the high nutritional value and associated several health benefits of
ghee, such as enhancing muscular strength, improving digestion, boosting brain and heart health, etc., is
primarily driving the global ghee market.

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
ghee.

Based on the source, the global ghee market can be segmented into cow, buffalo, and mixed. Among
these, cow milk currently holds the majority of the total market share.

Based on the end user, the global ghee market has been divided into retail and institutional. Currently,
the retail sector exhibits a clear dominance in the market.

Based on the distribution channel, the global ghee market can be categorized into convenience stores,
supermarkets and hypermarkets, speciality stores, online, and others. Among these, convenience stores
account for the largest market share.

Some of the major players in the global ghee market include SMC Group – Madhusudan, Amul, KMF,
VRS Foods, Nestle, RSD Group (Gopaljee), etc.

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