Milk Processing Industry Outlook – Rising Income and Large Bovine Population Driving Growth

MUMBAI, India - Sept. 25, 2017 - PRLog -- Global market intelligence firm, Netscribes, Inc. released its latest report on the 'Milk Processing Industry in India 2017 (https://www.researchonindia.com/milk-processing-industry-in-india-2020.html)'. The large bovine population in India and presence of several milk co-operatives across the country is helping the milk processing industry to flourish. India is one of the largest producer and consumer of dairy products in the world, and represents one of the most lucrative dairy markets in the world.

Netscribes' latest market research report titled Milk Processing Industry in India 2017 states that the industry is experiencing growing demand for its products owing to a variety of factors. Increasing urbanization in the country is helping in bringing more consumers in touch with various processed milk products. This, along with the rising income of Indians, has ensured that the market continues to experience strong growth. Proliferation of food and grocery retail outlets to even tier 2 and tier 3 cities is further helping in driving demand as products are more easily available to consumers. Companies too have started running extensive marketing campaigns to educate consumers about the availability and benefits of their products.

A major problem being faced by the country's milk processing industry is gaps in the supply chain. The highly perishable nature of most milk products has made the presence of cold storage facilities a must. However, the lack of proper cold storage and distribution facilities in the country is a major challenge for the industry. Moreover, the lack of sufficient feed and fodder in the country implies that production of milk is not at its full capacity and the country is not able to fully utilize its milk production capacity. Despite these challenges, the industry holds significant promise. The industry has seen a number of established FMCG players foray into the dairy segments through new product launches. Similarly, several foreign players such as Groupe Lactalis SA, the world's largest dairy products company, are entering the Indian market. Moreover, established milk processing companies are looking to further expand their business and are looking to raise funds through IPOs. This will further aid in the development of the country's milk processing industry.

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