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Liquid Milk Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Liquid milk is the most widely consumed dairy product in India and is considered a vital source of essential nutrients required for proper functioning of the body. A recently released report by IMARC Group, titled “Liquid Milk Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, critically examines the Indian liquid milk market. The report finds that the liquid milk market in India market size reached INR 6,484.9 Billion in 2021. The major factor for the growth of the liquid milk market in India is the rapidly rising population due to which the consumption levels of liquid milk have witnessed a significant growth. Increasing incomes, large vegetarian population, rising standards of living and health consciousness among the consumers have also pushed the growth of the market in a positive direction. Most of the market is currently accounted by the unorganised sector. Growth rates of the organised sector, however, is faster than the unorganised sector. Looking forward, IMARC Group expects the India liquid milk market is expected to reach INR 16,470.3 Billion by 2027, exhibiting a growth rate (CAGR) of 16.7% during 2022-2027.

The report has examined the Indian Liquid Milk Market in 15 major states:

  • Maharashtra
  • Uttar Pradesh
  • Andhra Pradesh
  • Tamil Nadu
  • Gujarat
  • Rajasthan
  • Karnataka
  • Madhya Pradesh
  • West Bengal
  • Bihar
  • Delhi
  • Kerala
  • Punjab
  • Orissa
  • Haryana


For each of the states, the report provides a thorough analysis of the current and historical value and volume trends, market share of key players and market forecast. Currently, Maharashtra represents the region with highest market share in the country. The competitive landscape of the Indian liquid milk market has also been covered in this report.

The study gives an in-depth analysis of the liquid milk market landscape in India, covering the current, historical and future trends for liquid milk production along with its prices. The report also offers SWOT, Value Chain and Porter’s Five Forces analysis of the Indian liquid milk market along with breakup by segment, region, 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 Indian liquid milk market in any manner.

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   Indian Dairy Industry
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market by Organised and Unorganised Segment
    5.4    Milk Production and Consumption Trends
        5.4.1 Current and Historical Trends
        5.4.2 Production and Consumption Forecast
    5.5    Milk Production by State
    5.6    Milk Production by Cattle
    5.7    Milk Utilization Patterns in India
    5.8    Market Forecast
6   Indian Liquid Milk Industry
    6.1    Market Overview
    6.2    Market Performance
        6.2.1 Volume Trends
        6.2.2 Value Trends
    6.3    Impact of COVID-19
    6.4    Price Trends
        6.4.1 Milk Procurement Price Trends
        6.4.2 Liquid Milk Price Trends
    6.5    Market Breakup by Region
    6.6    Market Forecast
    6.7    SWOT Analysis
        6.7.1    Overview
        6.7.2    Strengths
        6.7.3    Weaknesses
        6.7.4    Opportunities
        6.7.5    Threats
    6.8    Value Chain Analysis
    6.9    Porter’s Five Forces Analysis
        6.9.1    Overview
        6.9.2    Bargaining Power of Buyers
        6.9.3    Bargaining Power of Suppliers
        6.9.4    Degree of Competition
        6.9.5    Threat of New Entrants
        6.9.6    Threat of Substitutes
    6.10    Key Success Factors and Risk Factors
7   Performance of Key Regions
    7.1    Karnataka
        7.1.1 Market Performance
            7.1.1.1 Volume Trends
            7.1.1.2 Value Trends
        7.1.2 Competitive Landscape
        7.1.3 Market Forecast
            7.1.3.1 Volume Trends
            7.1.3.2 Value Trends
    7.2   Maharashtra
        7.2.1 Market Performance
            7.2.1.1 Volume Trends
            7.2.1.2 Value Trends
        7.2.2 Competitive Landscape
        7.2.3 Market Forecast
            7.2.3.1 Volume Trends
            7.2.3.2 Value Trends
    7.3   Tamil Nadu
        7.3.1 Market Performance
            7.3.1.1 Volume Trends
            7.3.1.2 Value Trends
        7.3.2 Competitive Landscape
        7.3.3 Market Forecast
            7.3.3.1 Volume Trends
            7.3.3.2 Value Trends
    7.4   Delhi
        7.4.1 Market Performance
            7.4.1.1 Volume Trends
            7.4.1.2 Value Trends
        7.4.2 Competitive Landscape
        7.4.3 Market Forecast
            7.4.3.1 Volume Trends
            7.4.3.2 Value Trends
    7.5   Gujarat
        7.5.1 Market Performance
            7.5.1.1 Volume Trends
            7.5.1.2 Value Trends
        7.5.2 Competitive Landscape
        7.5.3 Market Forecast
            7.5.3.1 Volume Trends
            7.5.3.2 Value Trends
    7.6   Andhra Pradesh and Telangana
        7.6.1 Market Performance
            7.6.1.1 Volume Trends
            7.6.1.2 Value Trends
        7.6.2 Competitive Landscape
        7.6.3 Market Forecast
            7.6.3.1 Volume Trends
            7.6.3.2 Value Trends
    7.7   Uttar Pradesh
        7.7.1 Market Performance
            7.7.1.1 Volume Trends
            7.7.1.2 Value Trends
        7.7.2 Competitive Landscape
        7.7.3 Market Forecast
            7.7.3.1 Volume Trends
            7.7.3.2 Value Trends
    7.8   West Bengal
        7.8.1 Market Performance
            7.8.1.1 Volume Trends
            7.8.1.2 Value Trends
        7.8.2 Competitive Landscape
        7.8.3 Market Forecast
            7.8.3.1 Volume Trends
            7.8.3.2 Value Trends
    7.9   Kerala
        7.9.1 Market Performance
            7.9.1.1 Volume Trends
            7.9.1.2 Value Trends
        7.9.2 Competitive Landscape
        7.9.3 Market Forecast
            7.9.3.1 Volume Trends
            7.9.3.2 Value Trends
    7.10   Haryana
        7.10.1 Market Performance
            7.10.1.1 Volume Trends
            7.10.1.2 Value Trends
        7.10.2 Competitive Landscape
        7.10.3 Market Forecast
            7.10.3.1 Volume Trends
            7.10.3.2 Value Trends
    7.11   Punjab
        7.11.1 Market Performance
            7.11.1.1 Volume Trends
            7.11.1.2 Value Trends
        7.11.2 Competitive Landscape
        7.11.3 Market Forecast
            7.11.3.1 Volume Trends
            7.11.3.2 Value Trends
    7.12   Rajasthan
        7.12.1 Market Performance
            7.12.1.1 Volume Trends
            7.12.1.2 Value Trends
        7.12.2 Competitive Landscape
        7.12.3 Market Forecast
            7.12.3.1 Volume Trends
            7.12.3.2 Value Trends
    7.13   Madhya Pradesh
        7.13.1 Market Performance
            7.13.1.1 Volume Trends
            7.13.1.2 Value Trends
        7.13.2 Competitive Landscape
        7.13.3 Market Forecast
            7.13.3.1 Volume Trends
            7.13.3.2 Value Trends
    7.14   Bihar
        7.14.1 Market Performance
            7.14.1.1 Volume Trends
            7.14.1.2 Value Trends
        7.14.2 Competitive Landscape
        7.14.3 Market Forecast
            7.14.3.1 Volume Trends
            7.14.3.2 Value Trends
    7.15   Orissa
        7.15.1 Market Performance
            7.15.1.1 Volume Trends
            7.15.1.2 Value Trends
        7.15.2 Competitive Landscape
        7.15.3 Market Forecast
            7.15.3.1 Volume Trends
            7.15.3.2 Value Trends
8   Competitive Landscape
    8.1    Competitive Structure
    8.2    Market Share of Key Players
9   Liquid Milk Manufacturing Process
    9.1    Product Overview
    9.2    Detailed Process Flow
    9.3    Various Types of Unit Operations Involved
    9.4    Mass Balance and Raw Material Requirements
10  Project Details, Requirements and Costs Involved
    10.1    Land Requirements and Expenditures
    10.2    Construction Requirements and Expenditures
    10.3    Plant Machinery
    10.4    Machinery Pictures
    10.5    Raw Material Requirements and Expenditures
    10.6    Raw Material and Final Product Pictures
    10.7    Packaging Requirements and Expenditures
    10.8    Transportation Requirements and Expenditures
    10.9    Utility Requirements and Expenditures
    10.10    Manpower Requirements and Expenditures
    10.11    Other Capital Investments
11  Loans and Financial Assistance
12  Project Economics

    12.1    Capital Cost of the Project
    12.2    Techno-Economic Parameters
    12.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    12.4    Taxation and Depreciation
    12.5    Income Projections
    12.6    Expenditure Projections
    12.7    Financial Analysis
    12.8    Profit Analysis
13  Key Player Profiles

List of Figures

Figure 1: India: Dairy Industry Overview
Figure 2: India: Dairy Market (in Billion INR), 2016-2021
Figure 3: India: Dairy Market: Breakup by Segment (in %), 2021
Figure 4: India: Dairy Market: Total Milk Production (in Million Metric Tons), 2016-2021
Figure 5: India: Dairy Market: Total Milk Consumption (in Million Metric Tons), 2016-2021
Figure 6: India: Dairy Market: Total Milk Production Forecast (in Million Metric Tons), 2022-2027
Figure 7: India: Dairy Market: Total Milk Consumption Forecast (in Million Metric Tons), 2022-2027
Figure 8: India: Milk Utilisation Patterns
Figure 9: India: Dairy Market Forecast (in Billion INR), 2022-2027
Figure 10: India: Liquid Milk Industry Overview
Figure 11: India: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 12: India: Liquid Milk Market: Value Trends (in Billion INR), 2016-2021
Figure 13: India: Milk Market: Procurement Price Trends (in INR/Litre), 2016-2021
Figure 14: India: Liquid Milk Market: Retail Price Trends (in INR/Litre), 2016-2021
Figure 15: India: Liquid Milk Market: Breakup by Region (in %), 2021
Figure 16: India: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027 
Figure 17: India: Liquid Milk Market Forecast: Value Trends (in Billion INR), 2022-2027
Figure 18: India: Liquid Milk Industry: SWOT Analysis
Figure 19: India: Liquid Milk Industry: Value Chain Analysis
Figure 20: India: Liquid Milk Industry: Porter’s Five Forces Analysis
Figure 21: Karnataka: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 22: Karnataka: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 23: Karnataka: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 24: Karnataka: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 25: Karnataka: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 26: Maharashtra: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 27: Maharashtra: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 28: Maharashtra: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 29: Maharashtra: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 30: Maharashtra: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 31: Tamil Nadu: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 32: Tamil Nadu: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 33: Tamil Nadu: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 34: Tamil Nadu: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 35: Tamil Nadu: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 36: Delhi: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 37: Delhi: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 38: Delhi: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 39: Delhi: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 40: Delhi: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 41: Gujarat: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 42: Gujarat: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 43: Gujarat: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 44: Gujarat: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 45: Gujarat: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 46: Andhra Pradesh and Telangana: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 47: Andhra Pradesh and Telangana: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 48: Andhra Pradesh and Telangana: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 49: Andhra Pradesh and Telangana: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 50: Andhra Pradesh and Telangana: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 51: Uttar Pradesh: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 52: Uttar Pradesh: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 53: Uttar Pradesh: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 54: Uttar Pradesh: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 55: Uttar Pradesh: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 56: West Bengal: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 57: West Bengal: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 58: West Bengal: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 59: West Bengal: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 60: West Bengal: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 61: Kerala: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 62: Kerala: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 63: Kerala: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 64: Kerala: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 65: Kerala: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 66: Haryana: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 67: Haryana: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 68: Haryana: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 69: Haryana: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 70: Haryana: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 71: Punjab: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 72: Punjab: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 73: Punjab: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 74: Punjab: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 75: Punjab: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 76: Rajasthan: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 77: Rajasthan: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 78: Rajasthan: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 79: Rajasthan: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 80: Rajasthan: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 81: Madhya Pradesh: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 82: Madhya Pradesh: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 83: Madhya Pradesh: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 84: Madhya Pradesh: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 85: Madhya Pradesh: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 86: Bihar: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 87: Bihar: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 88: Bihar: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 89: Bihar: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 90: Bihar: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 91: Orissa: Liquid Milk Market: Volume Trends (in Million Litres), 2016-2021
Figure 92: Orissa: Liquid Milk Market: Value Trends (in Million INR), 2016-2021
Figure 93: Orissa: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 94: Orissa: Liquid Milk Market Forecast: Volume Trends (in Million Litres), 2022-2027
Figure 95: Orissa: Liquid Milk Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 96: India: Liquid Milk Market: Breakup of Key Players (in %), 2021
Figure 97: Liquid Milk Manufacturing Plant: Detailed Process Flow
Figure 98: Liquid Milk Manufacturing Process: Conversion Rate of Products
Figure 99: Liquid Milk Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 100: Liquid Milk Industry: Profit Margins at Various Levels of the Supply Chain
Figure 101: Liquid Milk Production: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: India: Dairy Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Dairy Market: Milk Production Breakup by State, 2016-2021
Table 3: India: Dairy Market: Milk Production Breakup by Cattle, 2016-2021
Table 4: India: Liquid Milk Market Forecast: Breakup by Region, 2022-2027
Table 5: India: Liquid Milk Market Forecast: Breakup by End-Use, 2022-2027
Table 6: Liquid Milk Manufacturing Plant: Costs Related to Land and Site Development (in INR)
Table 7: Liquid Milk Manufacturing Plant: Costs Related to Civil Works (in INR)
Table 8: Liquid Milk Manufacturing Plant: Costs Related to Machinery (in INR)
Table 9: Liquid Milk Manufacturing Plant: Raw Material Requirements
Table 10: Liquid Milk Manufacturing Plant: Costs Related to Salaries and Wages (in INR)
Table 11: Liquid Milk Manufacturing Plant: Costs Related to Other Capital Investments (in INR)
Table 12: Details of Financial Assistance Offered by Financial Institutions
Table 13: Liquid Milk Manufacturing Plant: Capital Costs (in INR)
Table 14: Liquid Milk Manufacturing Plant: Techno-Economic Parameters
Table 15: Liquid Milk Manufacturing Plant: Taxation and Depreciation
Table 16: Liquid Milk Manufacturing Plant: Income Projections (in INR)
Table 17: Liquid Milk Manufacturing Plant: Expenditure Projections (in INR)
Table 18: Liquid Milk Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 19: Liquid Milk Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 20: Liquid Milk Manufacturing Plant: Profit and Loss Account


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Key Questions Answered in This Report

The liquid milk market in India was valued at INR 6,484.9 Billion in 2021.

We expect the liquid milk market in India to exhibit a CAGR of 16.7% during 2022-2027.

The rising awareness towards the numerous health benefits of liquid milk, such as strengthening the skeletal system, lowering the risk of cardiovascular diseases, boosting metabolism, along with improving the overall immunity, is primarily driving the liquid milk market in India.

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 liquid milk across the nation.

 

On a regional level, the market has been classified into Maharashtra, Uttar Pradesh, Andhra Pradesh, Tamil Nadu, Gujarat, Rajasthan, Karnataka, Madhya Pradesh, West Bengal, Bihar, Delhi, Kerala, Punjab, Orissa, and Haryana, where Maharashtra currently dominates liquid milk market in India.

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