Numerous global players are now investing in the Indian cheese market, says report
The cheese market in India is projected to reach Rs.512.1 billion by 2032, posting a CAGR of 21.47% during 2023-2032, says an industry report by ResearchAndMarkets.
It was Rs.88.9 billion in 2023, according to the “Cheese Market in India Report by Type, Format, Application, Retail/Institutional, and Region 2024-2032” report on 8 Mar 2024.
India is currently the world’s largest producer of milk https://www.wfp.org/ 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, says the report.
In addition to this, manufacturers are introducing a number of flavored cheese products https://agriwelfare.gov.in/ including pepper, garlic, red chili flakes, and oregano pickle, which cater to the different tastes and preferences of consumers in India.
With the growing working population and their altering food patterns, the fast-food https://www.britannica.com/ 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 https://www.paragmilkfoods.com/index.php market, according to the report.
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 https://amul.com/ .
These factors are anticipated to boost the consumption of cheese https://www.motherdairy.com/ in the upcoming years, it added.
But 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. Fiinews.com
