Key regions: United States, Brazil, United Kingdom, Spain, Italy
India is one of the largest milk producing countries in the world, with a long history of dairy farming and milk consumption. Milk is an essential part of the Indian diet, and is consumed in various forms such as curd, butter, ghee, and paneer. The Milk market in India has been growing steadily over the years, driven by changing customer preferences and local special circumstances.
Customer preferences: Indian customers have always preferred fresh milk over processed milk, and this trend continues to this day. However, there has been a shift towards packaged milk in recent years, due to concerns about the quality and safety of loose milk. Customers are also increasingly opting for value-added dairy products such as flavoured milk, yoghurt, and cheese.
Trends in the market: One of the major trends in the Milk market in India is the rise of organic milk. With growing awareness about the health benefits of organic products, many customers are willing to pay a premium for organic milk. Another trend is the increasing popularity of plant-based milk alternatives such as soy milk, almond milk, and coconut milk. While these products are still niche in India, they are gaining traction among health-conscious customers.
Local special circumstances: The Indian dairy industry is dominated by small-scale farmers, who own one or two cows or buffaloes. These farmers supply milk to local cooperatives, which in turn sell the milk to processors. This decentralized structure of the industry has both advantages and disadvantages. While it ensures a steady supply of milk and provides livelihoods to millions of farmers, it also leads to inefficiencies in the supply chain and makes it difficult to enforce quality standards.
Underlying macroeconomic factors: India's growing population and rising incomes are driving the demand for milk and dairy products. The country's middle class is expanding rapidly, and this demographic is particularly interested in value-added dairy products. At the same time, the government is promoting dairy farming as a means of rural development, and has launched various schemes to support small-scale farmers. However, the industry faces several challenges such as low productivity, poor quality control, and lack of infrastructure.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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