(Entertainment-NewsWire.com, June 20, 2019 ) The latest research report by IMARC Group, titled “Global Cheese Market in India Research Report and Forecast 2019-2024”, finds that the cheese market in India reached a value of INR 31.1 Billion in 2018, growing at a CAGR of more than 25% during 2011-2018. India represents the largest producer of milk in the world due to which milk is readily available as a raw material for cheese production. Cheese consists of several nutrients including proteins, fats, calcium, phosphorous, zinc, minerals, and vitamins A and B12. As a result, it is being promoted by manufacturers as a healthy and high protein snack for both adults and children. With changing consumption patterns, cheese has emerged as one of the most popular dairy products in India and is used in dishes like mashed potatoes, soups, sauces, macaroni and casseroles. Besides this, it is also being added as a taste enhancer in various Indian recipes, such as dosa, parathas and uttapam.
Globalization has led to a rise in the number of fast-food outlets and high-end bakeries in India. Owing to this, an increasing number of people are shifting to new cuisines which include cheese-based dishes. In addition, rising awareness about the health benefits offered by cheese has created a high demand for the product in India. Moreover, manufacturers are developing cheese variants with low fat and salt content to expand their consumer base. For instance, the Gujarat Cooperative Milk Marketing Federation, popularly known as Amul, has launched low-calorie cheese called slim cheese to attract health-conscious consumers. Along with this, Parag Milk Foods has introduced international flavors, such as paprika and jalapeno, in India in order to expand its market operations. Apart from this, many international brands are also entering the Indian cheese market. Looking forward, the market is expected to reach a value of INR 125.4 Billion by 2024, expanding at a CAGR of 26% during 2019-2024.
Based on types, processed cheese currently represents the most popular type of cheese in India, accounting for the majority of the overall market share. It is followed by mozzarella, cheddar, Emmental, ricotta and others.
The market has also been classified on the basis of formats into slices, diced/cubes, shredded, blocks, liquid, crème and spreads. Amongst these, cheese slices dominate the market across the region.On the basis of applications, the market has been segregated into pizzas, burgers, sandwiches, wraps, cakes, and others. Pizzas currently represent the largest application segment of cheese in India.
Performance by Retail/Institutional:
1. Retail 2. Institutional
Based on retail and institutional channels, retail sales currently dominate the market. Cheese is supplied to consumers through supermarkets/hypermarkets, department stores, malls and retail shops. On the other hand, the institutional segment consists of hotels, restaurants, and cafeterias in schools, colleges and hospitals.
Performance of Key Regions:
1. Karnataka 2. Maharashtra 2. Tamil Nadu 4. Delhi 5. Gujarat 6. Andhra Pradesh and Telangana 7. Uttar Pradesh 8. West Bengal 9. Kerala 10. Haryana 11. Punjab 12. Rajasthan 13. Madhya Pradesh 14. Bihar 15. Orissa
Region-wise, Maharashtra exhibits a clear dominance in the Indian cheese market. Other regions include Karnataka, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa.
Competitive Landscape:
The competitive landscape of the cheese market in India has also been examined with some of the key players being GCMMF, Parag Milk Foods, Britannia and Mother Dairy.
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