India Cheese Market : Analysis and Opportunity Assessment 2019-2024
Posted by Sophia Jones on March 1st, 2019
Market Reports on India Provides the Trending Market Research Report on “Cheese Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” under Food & Beverage category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Cheese Market in India reached a value of INR XX Billion in 2018, registering a CAGR of around 25.5% during 2011-2018. The market is further projected to reach a value of INR 125.4 Billion by 2024, growing at a CAGR of XX% during 2019-2024. India is currently the world’s largest producer of milk owing to which the cheese market holds significant growth potential. With the rising influence of western cuisines and inflating disposable incomes, consumers are now shifting from paneer towards cheese, thereby increasing its demand in the country. In addition to this, manufacturers are introducing a number of flavored cheese products including pepper, garlic, red chili flakes, and oregano pickle, which cater to the different tastes and preferences of consumers in India.
Cheese Market in India: Drivers
Although cheese is extensively used in fast food items like pasta, pizzas, burgers, sandwiches, wraps, tacos, cakes, garlic bread, etc., it is also being included in traditional Indian recipes such as dosa, uttapam and parathas. With the growing working population and their altering food patterns, the fast food industry is experiencing a healthy growth which, in turn, is augmenting the demand for cheese. Apart from this, with an increase in the number of organized retail outlets, numerous global players are now investing in the Indian cheese market. Moreover, several manufacturers are engaging in marketing campaigns through different advertising media like newspapers, televisions and social media platforms to increase awareness among consumers about the benefits of cheese. These factors are anticipated to boost the consumption of cheese in the upcoming years.
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Breakup by Type:
On the basis of types, the market has been divided into processed cheese, mozzarella, cheddar, Emmental, ricotta and others. At present, processed cheese represents the most popular product type in India.
Breakup by Format:
Based on formats, the market has been classified into slices, diced/cubes, shredded, blocks, liquid, crème and cheese spreads. Amongst these, cheese slices hold the dominant share as they are widely used in homes and restaurants for preparing sandwiches and burgers.
Breakup by Application:
On the basis of applications, the market has been segregated as pizzas, burgers, sandwiches, wraps, cakes, and others. Currently, pizza represents the leading application area of cheese, accounting for the majority of the market share.
Breakup by Retail/Institutional:
The cheese market in India has been bifurcated into retail and institutional channels, wherein retail sales exhibit a clear dominance in the market. Cheese is supplied to supermarkets/hypermarkets, department stores, malls and retail shops for further distribution to consumers.
On a geographical front, Maharashtra enjoys the leading position in the cheese market in India. Other regions include Karnataka, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa.
The cheese market in India is highly concentrated in nature with the presence of only a few large manufacturers, such as GCMMF, Parag Milk Foods, Britannia and Mother Dairy. These players compete against one another in terms of prices and quality.
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About the AuthorSophia Jones
Joined: August 22nd, 2017
Articles Posted: 752
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