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

Market Overview:

The paneer market in India size reached INR 420.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 1,023.4 Billion by 2027, exhibiting a growth rate (CAGR) of 16.2% during 2022-2027.

Paneer is a non-fermentative, non-renneted and non-melting type of cheese, obtained by acid and heat coagulation of milk. It is considered one of the most extensively consumed dairy product in India. Paneer is used in various combinations with other vegetables and dishes, and form an important ingredient of the Indian traditional cuisine. As a considerable part of population consists of vegetarians, paneer emerges as a viable option. Apart from this, factors such as increasing population, urbanisation rates, improved cold supply chain and growing deep freezer penetration are also influencing the market growth.

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

  • Maharashtra
  • Uttar Pradesh
  • Andhra Pradesh and Telangana
  • 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, Uttar Pradesh represents the region with highest market share in the country. The competitive landscape of the Indian paneer market has also been covered in this report. Some of the prominent players operating in the market include GCMMF, Parag Milk Foods, Mother Dairy, Rajasthan Cooperative Dairy Federation Limited and VRS Foods Limited.

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

1   Preface
2   Research 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 Paneer 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 Paneer Price Trends
    6.5    Market Breakup by Region
    6.6    Market Breakup by Sector
    6.7    Market Forecast
    6.8    SWOT Analysis
        6.8.1    Overview
        6.8.2    Strengths
        6.8.3    Weaknesses
        6.8.4    Opportunities
        6.8.5    Threats
    6.9    Value Chain Analysis
    6.10    Porter’s Five Forces Analysis
        6.10.1    Overview
        6.10.2    Bargaining Power of Buyers
        6.10.3    Bargaining Power of Suppliers
        6.10.4    Degree of Competition
        6.10.5    Threat of New Entrants
        6.10.6    Threat of Substitutes
    6.11    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   Market Breakup by Sector
    8.1    Retail Sector
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Institutional Sector
        8.2.1    Market Trends
        8.2.2    Market Forecast
9   Competitive Landscape
    9.1    Competitive Structure
    9.2    Market Share of Key Players
10  Paneer 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 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: Total Milk Production (in Million Metric Tons), 2016-17 – 2021-22
Figure 5: India: Total Milk Consumption (in Million Metric Tons), 2016-17 – 2021-22
Figure 6: India: Total Milk Production Forecast (in Million Metric Tons), 2022-23 – 2027-28
Figure 7: India: Total Milk Consumption Forecast (in Million Metric Tons), 2022-23 – 2027-28
Figure 8: India: Milk Utilisation Patterns
Figure 9: India: Dairy Market Forecast: Value Trends (in Billion INR), 2022-2027
Figure 10: India: Paneer Industry Overview
Figure 11: India: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 12: India: Paneer Market: Value Trends (in Billion INR), 2016-2021
Figure 13: India: Milk Market: Procurement Price Trends (in INR/Kg), 2016-2021
Figure 14: India: Paneer Market: Retail Price Trends (in INR/Kg), 2016-2021
Figure 15: India: Paneer Market: Breakup by Region (in %), 2021
Figure 16: India: Paneer Market: Breakup by Sector (in %), 2021
Figure 17: India: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027 
Figure 18: India: Paneer Market Forecast: Value Trends (in Billion INR), 2022-2027
Figure 19: India: Paneer Industry: SWOT Analysis
Figure 20: India: Paneer Industry: Value Chain Analysis
Figure 21: India: Paneer Industry: Porter’s Five Forces Analysis
Figure 22: Karnataka: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 23: Karnataka: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 24: Karnataka: Paneer Market: Breakup of Key Players (in %), 2021
Figure 25: Karnataka: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 26: Karnataka: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 27: Maharashtra: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 28: Maharashtra: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 29: Maharashtra: Paneer Market: Breakup of Key Players (in %), 2021
Figure 30: Maharashtra: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 31: Maharashtra: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 32: Tamil Nadu: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 33: Tamil Nadu: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 34: Tamil Nadu: Paneer Market: Breakup of Key Players (in %), 2021
Figure 35: Tamil Nadu: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 36: Tamil Nadu: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 37: Delhi: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 38: Delhi: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 39: Delhi: Paneer Market: Breakup of Key Players (in %), 2021
Figure 40: Delhi: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 41: Delhi: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 42: Gujarat: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 43: Gujarat: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 44: Gujarat: Paneer Market: Breakup of Key Players (in %), 2021
Figure 45: Gujarat: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 46: Gujarat: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 47: Andhra Pradesh and Telangana: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 48: Andhra Pradesh and Telangana: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 49: Andhra Pradesh and Telangana: Paneer Market: Breakup of Key Players (in %), 2021
Figure 50: Andhra Pradesh and Telangana: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 51: Andhra Pradesh and Telangana: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 52: Uttar Pradesh: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 53: Uttar Pradesh: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 54: Uttar Pradesh: Paneer Market: Breakup of Key Players (in %), 2021
Figure 55: Uttar Pradesh: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 56: Uttar Pradesh: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 57: West Bengal: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 58: West Bengal: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 59: West Bengal: Paneer Market: Breakup of Key Players (in %), 2021
Figure 60: West Bengal: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 61: West Bengal: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 62: Kerala: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 63: Kerala: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 64: Kerala: Paneer Market: Breakup of Key Players (in %), 2021
Figure 65: Kerala: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 66: Kerala: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 67: Haryana: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 68: Haryana: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 69: Haryana: Paneer Market: Breakup of Key Players (in %), 2021
Figure 70: Haryana: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 71: Haryana: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 72: Punjab: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 73: Punjab: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 74: Punjab: Paneer Market: Breakup of Key Players (in %), 2021
Figure 75: Punjab: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 76: Punjab: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 77: Rajasthan: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 78: Rajasthan: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 79: Rajasthan: Paneer Market: Breakup of Key Players (in %), 2021
Figure 80: Rajasthan: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 81: Rajasthan: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 82: Madhya Pradesh: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 83: Madhya Pradesh: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 84: Madhya Pradesh: Paneer Market: Breakup of Key Players (in %), 2021
Figure 85: Madhya Pradesh: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 86: Madhya Pradesh: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 87: Bihar: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 88: Bihar: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 89: Bihar: Paneer Market: Breakup of Key Players (in %), 2021
Figure 90: Bihar: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 91: Bihar: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 92: Orissa: Paneer Market: Volume Trends (in Million Kg), 2016-2021
Figure 93: Orissa: Paneer Market: Value Trends (in Million INR), 2016-2021
Figure 94: Orissa: Paneer Market: Breakup of Key Players (in %), 2021
Figure 95: Orissa: Paneer Market Forecast: Volume Trends (in Million Kg), 2022-2027
Figure 96: Orissa: Paneer Market Forecast: Value Trends (in Million INR), 2022-2027
Figure 97: India: Paneer Market: Retail Sector (in Million Kg), 2016 & 2021
Figure 98: India: Paneer Market Forecast: Retail Sector (in Million Kg), 2022-2027
Figure 99: India: Paneer Market: Institutional Sector (in Million Kg), 2016 & 2021
Figure 100: India: Paneer Market Forecast: Institutional Sector (in Million Kg), 2022-2027
Figure 101: India: Paneer Market: Breakup by Key Players (in %), 2021
Figure 102: Paneer Manufacturing Plant: Detailed Process Flow
Figure 103: Paneer Manufacturing Process: Conversion Rate of Feedstocks
Figure 104: Paneer Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 105: Paneer Industry: Profit Margins at Various Levels of the Supply Chain
Figure 106: Paneer Production: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: India: Dairy Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Milk Production Breakup by State, 2016-17 – 2021-22
Table 3: India: Milk Production Breakup by Cattle, 2016-17 – 2021-22
Table 4: India: Paneer Market: Key Industry Highlights, 2021 and 2027
Table 5: India: Paneer Market Forecast: Breakup by Region, 2022-2027
Table 6: India: Paneer Market Forecast: Breakup by Sector, 2022-2027
Table 7: Paneer Manufacturing Plant: Costs Related to Land and Site Development (in INR)
Table 8: Paneer Manufacturing Plant: Costs Related to Civil Works (in INR)
Table 9: Paneer Manufacturing Plant: Costs Related to Machinery (in INR)
Table 10: Paneer Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (INR/Ton)
Table 11: Paneer Manufacturing Plant: Costs Related to Salaries and Wages (in INR)
Table 12: Paneer Manufacturing Plant: Costs Related to Other Capital Investments (in INR)
Table 13: Details of Financial Assistance Offered by Financial Institutions
Table 14: Paneer Manufacturing Plant: Capital Costs (in INR)
Table 15: Paneer Manufacturing Plant: Techno-Economic Parameters
Table 16: Paneer Manufacturing Plant: Taxation and Depreciation (in INR)
Table 17: Paneer Manufacturing Plant: Income Projections (in INR)
Table 18: Paneer Manufacturing Plant: Expenditure Projections (in INR)
Table 19: Paneer Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in INR)
Table 20: Paneer Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in INR)
Table 21: Paneer Manufacturing Plant: Profit and Loss Account


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Key Questions Answered in This Report

The paneer market in India was valued at INR 420.6 Billion in 2021.

We expect the paneer market in India to exhibit a CAGR of 16.2% during 2022-2027.

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 paneer across the nation.

The widespread availability of numerous varieties of paneer, such as protein-enriched, skim milk, masala, etc., to cater to diverse consumer taste and preferences is primarily driving the paneer market in India.

Based on the sector, the paneer market in India can be segmented into retail sector and institutional sector. Currently, the retail sector holds the majority of the total market share.

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

Some of the major players in the paneer market in India include GCMMF, Parag Milk Foods, Mother Dairy, Rajasthan Cooperative Dairy Federation Limited, and VRS Foods Limited.

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