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Indian yoghurt market forecast to show exponential growth

Indian yoghurt market forecast to show exponential growth
International dairy companies can tap in to a growing demand for yogurt in India, according to a recently-published report by TechSci Research.

The yogurt market in India grew at a CAGR of 28.9% between 2011 and 2015 says the report and is projected to grow at an even faster pace over next five years and touch $1bn by 2021.

Easy availability of products, and rising emphasis on low calorie and low fat content of food products is driving yogurt consumption in India. Yogurts are gradually eating away the share of traditional dairy products in urban and semi urban cities, due to increasing health awareness, better quality of packaged yogurt and increasing yogurt flavors.

Yoghurt demand
With growing yogurt demand and only a handful of organized players offering yogurt, the prices of these products are anticipated to grow through 2021, the report says.

Currently, around 80% of India’s dairy production comes from small enterprises, with an average herd size of only one or two cows. The larger, organized, Indian companies and cooperatives have been attempting to combine small localized production to ‘demand centers’ across the country.

Shift to organised dairy companies
Laltu Sinha, research manager with TechSci Research, told DairyReporter that the industry is changing.

The Indian dairy products market is expected to witness a shift from unorganized to organized sector,” Sinha said.

The rise in the organized sector in India dairy products market can be attributed to rising demand for high quality packaged products, especially in urban areas. However, in rural areas, acceptance of packaged dairy products is slowly gaining momentum.

However, the dairy market is highly fragmented with the top ten players occupying less than 60% of the market share.

See the full story here

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