IMARC Group’s latest report, titled “Ghee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global ghee market size reached US$ 49.2 Billion in 2022. Ghee, also known as clarified butter, refers to the pure fat left after the milk solids and water are removed from the butter. Characterized by a rich aroma and texture and excellent shelf stability, the taste, color, and texture of ghee depends upon the quality of the butter, source of milk, and boiling duration. It contains rich amounts of proteins, potassium, calcium, phosphorus, selenium, antioxidants, vitamins A, E, and K, and fatty acids. It aids digestion, improves brain and heart health, lowers harmful cholesterol levels, prevents chronic cough issues and eye disorders, transports vitamins throughout the body, and boosts immunity. As a result, ghee is widely used for cooking, preparing baked goods, and sauteing, stir-frying, pan-frying, and deep-frying vegetables.
Global Ghee Market Trends:
Ghee promotes weight loss, facilitates bowel movement, soothes inflammation, strengthens bone health, relieves constipation, cures thyroid dysfunction, and enhances muscular strength. Consequently, the surging awareness about its associated health benefits and high nutritional value among consumers represents the primary factor driving the market growth. Besides this, the rapid growth in the food and beverage (F&B) industry has augmented the product demand for manufacturing food products, such as dairy items, bakery, and ice cream. Additionally, since ghee is a powerful source of antioxidants and vitamin E, it assists in maintaining collagen, preventing wrinkles, and skin tightening. This has led to increased product adoption among individuals due to the growing focus on maintaining fresh and youthful skin. In line with this, the rising product usage in formulating personal care products as it neutralizes free radicals, nourishes the skin, treats cracked lips, lightens dark spots, and reduces dark circles, has catalyzed the market growth. Furthermore, the launch of premium ghee produced from high-quality milk in hygienic and safe conditions to ensure its purity and quality is contributing to product sales. Other factors, including the increasing health consciousness among the masses, rising preferences for packaged foods, inflating expenditure capacities, changing dietary patterns, and advancements in production processes, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 73.5 Billion by 2028, expanding at a CAGR of 7% during 2023-2028.
- Based on the source, the market has been classified into cow, buffalo, and mixed. At present, cow’s milk exhibits a clear dominance in the market.
- On the basis of the end user, the market has been bifurcated into retail and institutional, wherein the retail sector represents the largest market segment.
- The market has been divided based on the distribution channel into supermarkets/hypermarkets, convenience stores, specialty stores, online, and others. Amongst these, convenience stores account for the majority of the market share.
- The competitive landscape of the market has also been analyzed, along with the detailed profiles of key players operating in the industry.
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