India Yogurt Market Research Report 2023
Posted by Bharat Book on March 27th, 2018
Bharat Book Bureau Provides the Trending Market Research Report on “India Yogurt Market Outlook 2023” under Food & Beverages category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
India Yogurt Market Outlook, 2023' gives a comprehensive analysis on the Yogurt industry of India. Since last few years, India is experiencing a major growth in the Yogurt sales. Increasing awareness about health benefit of yogurt, changing taste and preferences of consumers, availability of raw material have helped Yogurt market to grow considerably. In addition to this, innovations in products, cold chain facility are also driving the Yogurt industry.
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India Yogurt market is expected to grow with a CAGR of more than 12% in the forecasted period of FY 2017-18 to FY 2021-22, on account of rising health awareness, change in lifestyle, urbanization, and entry of International as well domestic players. Overall Yogurt market is segmented into Organised and Unorganised market. Organised yogurt market is further segmented into Retail yogurt market and Yogurt Service chain market. Retail yogurt market is made up of Spoonful yogurt and Drinkable yogurt. Again, Spoonful Yogurt is divided in three categories as per its form viz. Plain/Natural, Frozen and other. On the other side, Drinkable Yogurt has three product type viz. Buttermilk, Lassi and others.
Yogurt service chain also offers Spoonful Yogurt (Flavoured & Fruited Frozen yogurt) and Drinkable Yogurt (Smoothie). Major players operating in the Yogurt market of India are: National level players like Amul, Mother Dairy, Nestlé, and Britannia; Regional players as Karnataka Cooperative Milk Producers Federation, Parag Milk & Milk Products, Himalaya International, Tirumala Milk Products, The Nilgiri Dairy Farm, and VRS Foods; International entrants in the markets e.g. Danone, Fonterra, etc. There are service chains also for e.g Team24 Foods & Beverages Private Limited (Flavours24), Maez One Retail and Food Private Limited (Red Mango), Brand Calculus Franchising (India) Private Limited (Kiwi kiss), Polo Foods QSR Private Limited, MOI Retail Private Limited, Fonterra India Private Limited, PepsiCo India Holdings Pvt. Ltd. , Modern Cream Dairy Industries Pvt. Ltd.
With the advent of functional products, and the emphasis on low calorie, low sugar, digestive products, the yogurt industry is undergoing a paradigm shift. Instead of the traditional milk, cheese, and butter concepts, more functional products such as yogurt and it's other form are now being accepted as the medium of delivery for beneficial functional ingredients. The Indian palate is well-accustomed to the taste of not only plain yogurt but also such form and taste variants as Lassi, Chaas, Srikhand, Mishti Doi, Raita, etc. With the broad consumer acceptance of packaged yogurt and frozen yogurt products which satisfy their lifestyle and convenience needs, the market is expected to grow, encouraging more regional, national, and international players to enter the market.
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