A shift in consumer preferences and lifestyle changes are driving demand for India’s dairy products market which is projected to grow at a CAGR of 7 percent through 2021.
The rapid growth can be attributed to rising health consciousness among consumers, a growing demand for value added dairy products and rising disposable income, according to a new report from global market researcher TechSci Research.
“Changing consumer dietary patterns, rising awareness regarding nutritional values of dairy products, along with growing willingness of consumers to spend on non-conventional dairy products such as yogurts, probiotic drinks, etc., is propelling growth in India dairy products market,” researchers say.
Gujarat Cooperative Milk Marketing Federation Ltd., National Dairy Development Board, Karnataka Cooperative Milk Producers Federation Ltd., and Tamil Nadu Co-operative Milk Producers' Federation Limited, among others are few of the leading companies operating in India dairy products market.
The full report can be read here.