Definition:
The Milk market covers the total gross production value for five items like raw milk of cattle, goats, sheep, buffalo, and camel.
Additional Information:The market comprises gross production value and gross production value growth rates, import and export value. Data is only provided for the countries that are active in the above-mentioned markets. The market only displays B2B values.
The term "Revenue" in the title of the charts and chapter refers to the gross production value within this market.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update:
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update:
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update:
Source: Statista Market Insights
The Milk Market within the Agriculture Market in India is witnessing minimal growth, influenced by factors such as fluctuating prices, changing consumer preferences, and challenges in supply chain logistics that hinder expansion opportunities.
Customer preferences: Consumers in India are increasingly prioritizing health and wellness, driving a shift towards organic and fortified milk products that cater to nutritional needs. There is a growing preference for plant-based milk alternatives among younger demographics, influenced by veganism and lactose intolerance awareness. Additionally, urbanization and busy lifestyles are prompting demand for convenient packaging and ready-to-drink dairy options. These trends reflect a broader cultural shift towards sustainability and health consciousness, reshaping the traditional milk market landscape.
Trends in the market: In India, the milk market is experiencing a notable shift towards organic and fortified products as consumers become more health-conscious. The rise of plant-based milk alternatives is particularly significant among younger demographics, driven by increased awareness of veganism and lactose intolerance. Additionally, urbanization is fueling demand for convenient packaging and ready-to-drink dairy options, catering to the fast-paced lifestyles of city dwellers. These trends highlight a cultural movement towards sustainability and wellness, presenting both challenges and opportunities for industry stakeholders to innovate and adapt to evolving consumer preferences.
Local special circumstances: In India, the milk market is uniquely influenced by diverse regional practices and cultural traditions surrounding dairy consumption. With a strong emphasis on local breeds and traditional processing methods, many consumers prefer locally sourced milk, which fosters a connection to community farming. The regulatory framework also plays a crucial role, with stringent quality standards ensuring safety and hygiene. Additionally, festivals and religious practices significantly boost demand for dairy products, creating seasonal spikes in consumption. These local nuances shape a distinct market landscape, driving innovation while preserving cultural heritage.
Underlying macroeconomic factors: The milk market in India is significantly shaped by macroeconomic factors such as agricultural policies, rural income levels, and global dairy prices. The government's support for dairy farmers through subsidies and credit schemes enhances production capabilities, while fluctuating global milk prices influence domestic market dynamics. Additionally, rising disposable incomes and urbanization lead to increased demand for processed dairy products, shifting consumption patterns. Inflation and commodity prices also affect production costs, which can impact retail pricing. Furthermore, the emphasis on sustainability and organic practices is gaining traction, aligning with global trends and consumer preferences for healthier, ethically sourced dairy products.
Most recent update:
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update:
Source: Statista Market Insights
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