According to the recent report by IMARC Group, titled “Paneer Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Indian paneer market size reached a value of INR 365.5 Billion in 2020. Paneer, also popularly known as Indian cottage cheese, refers to a non-fermentative, non-melting, and non-renneted type of cheese. It is obtained by fruit- or vegetable-derived acid and heat coagulation of milk. Paneer has become one of the most consumed dairy products, especially in India, considering a significant ratio of the vegetarian population. It forms an important ingredient in the Indian traditional cuisine as it is used in combination with other vegetables to prepare gravy, semi-dry, and dry dishes. Besides this, paneer is also used in the preparation of snacks like nuggets, paneer tikka, dumplings, and Indian sweets, such as rasgulla, and rasmalai.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Indian Paneer Market Trends:
Paneer is rich in nutrients like Vitamin B and D, calcium, phosphorus, dietary fiber, and omega-3 and omega-6 fatty acids. As a result, the consumption of paneer helps in maintaining a healthy body and helps lower the risk of various diseases. Several health and fitness-conscious individuals are also incorporating paneer in their daily diet to strengthen their muscles. Additionally, manufacturers are creating different varieties of paneer like fiber-enriched, skim milk, masala, protein-enriched, low-fat, and vegetable impregnated in order to widen their product portfolio. Moreover, owing to hectic lifestyles and altering food habits, the working population is shifting towards easy-to-prepare food products. As paneer is an extremely versatile ingredient, has an easy preparation process and saves cooking time, it is gaining traction globally. Furthermore, during the recent lockdowns worldwide, several dairy companies, especially in India, reported a high jump in the monthly sales of dairy products, including paneer. On account of these factors, the market is expected to grow at a CAGR of 15% during the forecast period (2021-2026).
- The market has been segmented into the retail and institutional sectors.
- Region-wise, the market has been categorized into Tamil Nadu, Karnataka, Maharashtra, Orissa, Delhi, Haryana, Uttar Pradesh, Rajasthan, Andhra Pradesh, Gujarat, Bihar, Punjab, Kerala, Madhya Pradesh, and West Bengal. At present, Uttar Pradesh represents the leading market, accounting for the majority of the total share.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Mother Dairy, GCMMF, Parag Milk Foods, VRS Foods Limited, and Rajasthan Cooperative Dairy Federation Limited.
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