The paneer market in India size reached INR 494 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 1,173 Billion by 2028, exhibiting a growth rate (CAGR) of 15.7% during 2023-2028.
Paneer, also known as Indian cottage cheese, is prepared from curdled hot milk using lime juice, vinegar, and citric acid. It is a non-fermentative and non-melting cheese with a sweet acidic flavor and soft spongy texture. It is high in nutritional value and can be consumed raw, cooked, grated, sliced, and crumbled. It is enriched with calcium, protein, and vitamin D and aids in building stronger bones and teeth, healthy heart muscles, and smooth nerve functioning. It is also fortified with selenium and potassium that help prevent memory loss and used as a primary ingredient in Indian traditional cuisine and added with other vegetables to prepare savory dry, semi-dry, and gravy delicacies. Besides this, paneer is also used in preparing Indian sweets and snacks, which include nuggets, paneer tikka, dumplings, rasgulla and ras malai.
India Paneer Market Trends:
At present, the rising prevalence of various bone disorders due to calcium deficiency is catalyzing the demand for paneer and milk-based products in India. Paneer is rich in essential nutrients, which include vitamins B and D, phosphorus, dietary fiber, and omega-3 and omega-6 fatty acids. As a result, individuals are increasingly incorporating paneer into their daily diet. In addition, the rising awareness among health-conscious individuals and fitness enthusiasts about the benefits of consuming a moderate amount of paneer is currently supporting the overall product sales across the country. Apart from this, the increasing number of hotels, cloud kitchens, and quick service restaurants (QSRs) is driving the demand for paneer for preparing various Indian traditional cuisines and salads. Furthermore, changing dietary patterns, shifting consumer inclination towards convenience food due to hectic schedules, and the rising product adoption in the preparation of western foods, such as pizzas, sandwiches, wraps, and burgers, are offering lucrative opportunities to manufacturers. Additionally, leading manufacturers are focusing on expanding their product portfolio by introducing new varieties of paneer, including fiber-enriched, skim milk, masala, protein-enriched, low-fat, and vegetable impregnated. Moreover, the emerging trend of food vlogging, a rise in culinary tourism in India, social gatherings on special occasions, and advancements in the cold supply chain are some other factors strengthening the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the paneer market in India, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on sector.
The report has provided a detailed breakup and analysis of the paneer market in India based on the sector. This includes retail and institutional. According to the report, the retail sector represented the largest segment.
- Tamil Nadu
- Andhra Pradesh and Telangana
- Uttar Pradesh
- West Bengal
- Madhya Pradesh
The report has also provided a comprehensive analysis of all the major regional markets that include Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, and Orissa. According to the report, Uttar Pradesh was the largest market for paneer in India. Some of the factors driving the Uttar Pradesh paneer market included the presence of paneer manufacturers and suppliers in the state, rising investments in establishing milk processing plants, and various initiatives undertaken by the state government to promote the dairy industry.
The report has also provided a comprehensive analysis of the competitive landscape in the India paneer market. Detailed profiles of all major companies have also been provided.
|Base Year of the Analysis
||INR Billion, Million Kg
||Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, Orissa
||GCMMF, Parag Milk Foods, Mother Dairy, Rajasthan Cooperative Dairy Federation Limited, and VRS Foods Limited
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the paneer market in India from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the paneer market in India.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the paneer market in India industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.