India Yoghurt Market Set To Cross US$1 Billion Mark By 2021: TechSci Research Report

Friday, May 27th, 2016 | 507 Views


According to a report by TechSci Research titled “India Dairy Products Market By Product Type, Competition Forecast &; Opportunities, 2011–2021”, the yoghurt market in India grew at a CAGR of 28.9 percent during 2011 to 2015. It is projected to grow at an even faster pace over the next five years to reach US$1 billion by 2021.

Among the main reasons cited for the rise in yoghurt consumption in the country are the easy availability of various functional products, and rising emphasis on low calorie and low fat content of food products.

There is also a rising awareness about the health benefits of products, the increasing disposable income levels, a growing demand from the middle class segment and also affordable prices.

Some of the leading players operating in the India dairy products market include 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.

It is also believed that yoghurts are gaining popularity due to the entry of a larger number of international players that are engaged in offering a variety of non-conventional dairy products, including yoghurt.

 

 

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