INR 2,458.7 Billion by 2023: Indian Milk Processing Market
One of the largest in the world, Indian livestock market has a bovine population of 299.9 million. This includes cattle, buffalo, Mithun, and yak. With new cooperative milk industry projects coming in, the growth of the Indian dairy and milk processing market is likely to see a steep growth in the next few years. Indian dairy industry Outlook 2023 may view a bigger picture for the economy and overcoming the long-faced challenges. Market insights: At present, India leads the milk-producing industry in the world as its contribution to the global industry accounts for ~19% in total market share. As per the Indian dairy industry Analysis, the milk processing market of India expands with CAGR of ~14.8% between FY 2018 by 2023. With this, the market is expected to reach INR 2,458.7 Bn in FY 2023. In India, dairy is one of the major parts of daily consumables and that makes the demand for milk rise as the population of the economy increases. More ...