Indian Cheese Market Overview
The Indian Cheese Market is estimated to grow at a CAGR of 25.72% during the forecast period 2020–2025. The market is projected to grow from $ 40.4Bn 2019 to $158.7Bn by 2025. Cheese is a diary product derived from milk that is produced in a wide range of flavors, textures and forms by coagulation of the milk protein casein. During the cheese making process, most of the lactose is drained off and results in byproducts such as whey and curd.
- In the coming years, growing interest of Cheese in India is due to the rising number of fast food chains in the country.
- Product launch was a key sustainability strategy adopted by the market players to ensure the growth of Indian Cheese Market.
- Indian Cheese Market is estimated to record a rapid growth during the forecast period.
Cheese Type - Segment Analysis
In 2019, Processed Cheese segment dominated the Indian Cheese Market in terms of revenue. Processed cheese was introduced in India as a part of industrialization. It was the phase when international player entered the market and the Indian consumers were introduced to food products around the world.
Milk Source - Segment Analysis
In 2019, Cow’s milk segment dominated the Indian Cheese Market in terms of revenue. Cow’s milk is the most preferred milk source for Indian customers as they are an integral part of their tradition. Cow’s milk can easily be procured for cheese production purposes as the country has copious sellers/vendors.
By Form - Segment Analysis
The Cheese Slices segment dominated the Indian Cheese Market in 2019. This can be attributed to the modern trend of cheese being used in pizza, sandwiches and burgers in household as well as food parlors. Shredded cheese is expected to be a fast growing segment in the coming years.
Application - Segment Analysis
In 2019, the Pizza segment dominated the Indian Cheese Market in terms of revenue. It is forecast to grow at a CAGR of 12.33% during the period under consideration. Pizza is highly preferred in India as it can be shared among a group of people. Thus, pizzas are the fast food of choice at a family gathering or at parties by millennials.
Distribution Channel - Segment Analysis
The Supermarkets/Hypermarkets segment dominated the Indian Cheese Market in 2019. This case can to be attributed the fact that Indian families are reliant on purchasing household and dairy products from supermarket/hypermarket chains.
Drivers – Indian Cheese Market
- Growing Fast Food Chains
Indian Cheese Market is witnessing a rapid growth as fast food chains have been increasing in the country. Individuals opt for food products such as burgers, sandwiches, pizzas, pastas and others in which cheese is an integral ingredient. The trend of choosing food from fast food chains upon homemade food is also a factor aiding the market’s overall growth.
Challenges – Indian Cheese Market
- Existence of Paneer in the Indian Market
Paneer is a diary product that has the same consistency of cheese and is accepted widely among Indians. Some ethnic group also claims Paneer is better than cheese and cheese products. This would be considered a hindrance for the growth of the market.
Indian Cheese industry outlook
Product Launches along is the key strategy of the players in the Indian Cheese Industry. Indian Cheese top 10 companies include GCMMF, Britannia Industries, Parag Milk Foods, Choudhery Cheese Bazar Pvt. Ltd., Acres Wild Gourmet Cheeses, A.B.C. Farms Pvt. Ltd., Poshtik Milk Products Pvt Ltd, Flanders Dairy Products, Dairy Craft India Pvt. Ltd., and Mother Dairy Fruit & Vegetable Pvt Ltd.
Indian Cheese Market Research Scope:
The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Indian Cheese market. The assessment includes the forecast, an overview of the competitive structure, the Indian Cheese market share of the competitors, as well as the Indian Cheese market size market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This Indian Cheese market report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include Indian Cheese type, Milk source, Form, Application, and Distribution channel.