Paneer Market in India to Reach INR 1,848.9 Billion by 2032, Stimulated by Growing Health Consciousness Among Individuals

March 09, 2023 | Food & Beverages

IMARC Group’s latest report, titled “Paneer Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the paneer market in India reached a value of INR 570.8 Billion in 2023. Paneer, or Indian cottage cheese, is a non-fermentative, non-renneted, and non-melting dairy product characterized by a sweet acidic flavor and soft spongy texture. It is generally made by coagulating milk with fruit- or vegetable-derived acids, such as lime juice, vinegar, and citric acid. It forms a crucial ingredient in Indian traditional cuisine and is widely used in combination with other vegetables to prepare savory dry, semi-dry, and gravy delicacies. It is also utilized to make various sweets and snacks, including nuggets, paneer tikka, dumplings, rasgulla, and ras malai. Since it has an excellent nutritional profile and can be consumed raw, cooked, grated, sliced, and crumbled, paneer has gained immense popularity across the country.

Paneer Market in India Trends:

Paneer is rich in essential nutrients, such as dietary fiber, calcium, protein, phosphorus, vitamins D and B, and omega-3 and omega-6 fatty acids. As a result, the growing health consciousness among individuals and the rising number of fitness enthusiasts represent the primary factors driving the market in India. Moreover, the surging incidences of bone disorders due to calcium deficiency have accelerated the adoption of milk-based products, such as paneer. Additionally, there is a rise in the demand for paneer for preparing various Indian traditional cuisines and salads owing to the surging number of hotels, cloud kitchens, and quick service restaurants (QSRs) across the country. In line with this, the increasing incorporation of paneer in western foods, including pizzas, sandwiches, wraps, and burgers, is contributing to product sales. Furthermore, several key players are launching innovative product variants, such as fiber-enriched, skim milk, masala, protein-enriched, low-fat, filled, ultrafiltration (UF), and vegetable-impregnated paneer, to expand their product portfolio and customer base. Along with this, recent advancements in the cold supply chain and the emerging trend of culinary tourism have propelled market growth. Other factors, including the fusion of inter-regional tastes and cuisines, changing consumer dietary patterns, escalating demand for convenience foods, rising penetration of online retail channels, and product premiumization, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach INR 1,848.9 Billion by 2032, expanding at a CAGR of 13.5% during 2024-2032.

Market Summary:

Based on the sector, the market has been bifurcated into retail and institutional sectors. Currently, the retail sector dominates the market.
Region-wise, Uttar Pradesh holds the leading position in the market. Other major regions include Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, and Orissa.
The competitive landscape of the market has also been examined, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	INR Billion, Million Kg
Segment Coverage	Sector, State
States Covered	Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, Orissa
Companies Covered	GCMMF, Parag Milk Foods, Mother Dairy, Rajasthan Cooperative Dairy Federation Limited, and VRS Foods Limited
Customization Scope	10% Free Customization
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Paneer Market in India to Reach INR 1,848.9 Billion by 2032, Stimulated by Growing Health Consciousness Among Individuals

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