Is there a market for a yogurt business in India?
India yogurt market is anticipated to grow at a significant rate during the forecast period owing to the easy availability of raw materials like milk and starter culture due to flourishing dairy industry in the country. Growing awareness about health benefits associated with the consumption of yogurt has led to increasing popularity of yogurts such as frozen yogurt among kids as well as youngsters which will ensure robust growth of the market during the forecast period.
Moreover, the growing preference for flavored yogurts as desserts over sugary sweets or ice-creams is expected to drive the growth of the India yogurt market in the next five years. Introduction of newer products in the market by manufacturers and presence of national as well as international players that are focusing on innovation is anticipated to further propel the growth of India yogurt market by 2025.
Dahi’ or ‘Curd’ has been consumed in India since ages, whereas Yogurt is a relatively newer term in the Indian Market. Yogurt is considered beneficial for gut as well as digestive health due to the presence of pre-biotic bacteria and thus possess plethora of health benefits.
India yogurt market is segmented based on type, fat content, form, packaging, distribution channel and region. Based on form, the market is segmented into conventional yogurt, Greek yogurt, set yogurt, frozen yogurt, yogurt drinks and others.
The conventional yogurt segment held the largest market share in 2019 and the segment is expected to further lead the market during the forecast period owing to its increasing availability and application. However, Greek yogurt segment is also gaining rapid popularity owing to its several health benefits and hence is expected to undergo high growth in the coming years.
Based on distribution channel, India yogurt market is segmented into offline and online channels.The offline segment is further categorized into supermarket/hypermarket, convenience stores, independent small grocers.
Among them, the independent small grocers accounted for high revenue in 2019. However, the supermarkets/hypermarkets segment is anticipated to hold the largest market share due to easy availability, huge variety and discounted price on yogurt.
Major players operating in the India yogurt market are Nestle S.A, Danone SA, Amul, Mother Dairy Fruit & Vegetable Pvt. Ltd, Ananda Dairy, Paras Dairy, Britannia Industries Ltd, Parag Milk Foods, Epigamia, Milky Mist Dairy Food Private Limited, among others. Manufacturers are focusing on launching new flavored yogurt and yogurt products to increase their market share. Apart from dairy, they are also introducing dairy free yogurts in the market.
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