The Indian yogurt market is estimated to grow at a CAGR of 5.8% during the forecast period. Being the second most populated country in the world with a population of more than 1.3 billion, the demand for dairy products is quite high. Fueled by an enormous dairy industry, the yogurt market is experiencing a significant change in consumption patterns. Different types of yogurt, such as Greek yogurt, plant-based/non-dairy yogurt have emerged in the Indian market and an increasing number of populations are consuming them. The yogurt market is still dominated by small local shops (kiranas) in the unorganized sector. However, the potential for hypermarkets/supermarkets is bullish and heavy investments are expected in the country in the next few years. 

However, despite being deep-rooted as the staple consumable, the consumption of yogurt in the country is exceptionally low and far behind the average consumption in most mature markets. When compared to such high consumption markets as Germany (with an annual consumption of 24 kg), France (25 kg), and the Netherlands (23 kg), the per capita consumption in India is a mere 2.3 kg/year. Similarly, the per capita consumption of the packaged, store-purchased range is a meager 300 grams, and this too is heavily skewed toward the urban part of the country with 1 kg/year and is nearly zero in rural India.

The Indian yogurt market is segmented based on product type, category, and distribution channel. Based on the product type, the yogurt market is segmented into dairy-based and non-dairy-based. Based on the category, the market is classified into flavored and non-flavored. Based on the distribution channel, the market is segmented into convenience stores, supermarkets/hypermarkets, and online stores. In terms of category, plain/natural yogurt (non-flavored) constitutes the largest share and dominates retail sales, while such smaller categories as drinkable yogurt, and flavored and fruited yogurt, are likely to challenge specific packaged food and soft drink segments. 

India is a developing economy and has witnessed heavy investments in the past decade with numerous companies emerging in the yogurt market. The country is home to multi-million businesses including Amul, Mother Dairy, Nestlé, and Britannia, among more. These players constitute around 75% of the packaged yogurt owing to their product penetrations and distribution networks. Regional players such as Parag Milk & Milk Products, Karnataka Cooperative Milk Producers Federation, Tirumala Milk Products, Himalaya International are dominating the remaining 20% of the market in the country. The outbreak of the COVID-19 pandemic triggered a lift in sales across digital channels of most of the companies with the entire country being in lockdown for around 2 months. However, the sales of these companies have picked up and are expected to increase substantially in the last quarter of 2020.

Research Methodology

The market study of the Indian yogurt market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Yogurt Market Research and Analysis by Product Type
2. Indian Yogurt Market Research and Analysis by Category
3. Indian Yogurt Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Indian yogurt market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian yogurt market.
• Insights about market determinants which are stimulating the Indian yogurt market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.