India is a developing country with an effective number of populations in the recent trend. With the significant developments in the economy the living style of people in this region has turned up more actively and the demand for highly reputed dairy and soy food products is growing more positively in the recent trend. Moreover, the significant increase in disposable income in the region the demand is growing more effectively for the dairy and soy food products which the future lead the market growth more enormously. The key players of this market are introducing the e-commerce platform for dominating the widespread demand of the potential buyers which further beneficial for acquiring the huge market share in the near future. However, in the coming years, the market is benefitted with the significant number of mergers and acquisitions which is advantageous for enlarging the business platform in the economy and across the globe and result in the market with the competitive nature in the coming years.
According to the report analysis, ‘Country Profile: Dairy & Soy Food in India’ states that some of the major companies which are recently functioning in this market more actively for acquiring the huge market share by accomplishing the demand of the potential buyers likewise Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), Mother Dairy Fruit & Vegetable Pvt. Ltd., Karnataka Co-Operative Milk Producers` Federation Ltd., Tamil Nadu Co-operative milk producers` Federation Ltd., Andhra Pradesh Dairy Development Cooperative Federation Limited, Heritage Foods (India) Limited, Rajasthan Cooperative Dairy Federation Limited, Bihar State Co-operative Milk Producers’ Federation Ltd., The Punjab State Cooperative Milk Producers` Federation Ltd., Kerala Co-Operative Milk Marketing Federation Ltd, Aarey Milk Colony, D`Lecta, VRS Foods Limited and several others. Amul, Mother Dairy, and Nandini are the important brands in the Indian dairy & soy food sector. The manufacturers of this market are distributing their products with the various distribution channels which majorly involves cash & carries and warehouse clubs, food & drinks specialists, hypermarkets & supermarkets, convenience stores, dollar stores, variety stores & general merchandise retailers, e-Retailers and several others. However, Convenience stores are the foremost distribution channel in the Indian dairy & soy food sector.
The market of dairy and soy food sector includes various food item such as butter & spreadable fats, cheese, dairy-based & soy-based desserts, drinkable yogurt, from age frais & quark, milk, soymilk & soy drinks, and yogurt. For instance, Milk is the important category in both value and volume terms in the Indian dairy & soy food sector while the ‘drinkable yogurt’ category is expected to register the fastest value growth during 2017-2022.
The per capita utilization of the dairy and soy food was lower in India as compared to the global and regional level in 2017. Additionally, the key players are doing attractive packaging for increasing the demand of the products while, the packaging material includes flexible packaging, paper & board, rigid metal, rigid plastics, and glass. For instance, flexible packaging is the most frequently used pack material in the Indian dairy & soy food sector, followed by paper & board and glass.
With the effective application and attractive packaging, it is expected that the Indian market of dairy and soy food products will grow more significantly in the coming years over the decades.
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Ankur Gupta, Head Marketing & Communications