MarketLine Industry Profile
Dairy in India
March 2012
Reference Code: 0102-0711
Publication Date: March 2012
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EXECUTIVE SUMMARY
Market value
The Indian dairy market grew by 10.5% in 2010 to reach a value of $5,096.1 million.
Market value forecast
In 2015, the Indian dairy market is forecast to have a value of $7,387.5 million, an increase of 45% since 2010.
Category segmentation
Milk is the largest segment of the dairy market in India, accounting for 91.8% of the market's total value.
Geography segmentation
India accounts for 7.8% of the Asia-Pacific dairy market value.
Market share
Gujarat Cooperative Milk Marketing Federation Ltd is the leading player in the Indian dairy market, generating a 34.1%
share of the market's value.
Market rivalry
The Indian dairy market is fairly concentrated, with top three players holding 53.6% of the total market value.
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TABLE OF CONTENTS
Executive Summary..........................................................................................................................................................................2
Market value ..................................................................................................................................................................................2
Market value forecast...................................................................................................................................................................2
Category segmentation................................................................................................................................................................2
Geography segmentation ............................................................................................................................................................2
Market share..................................................................................................................................................................................2
Market ri valry .................................................................................................................................................................................2
Market Overview ...............................................................................................................................................................................7
Market definition............................................................................................................................................................................7
Market analysis .............................................................................................................................................................................7
Market Data........................................................................................................................................................................................8
Market value ..................................................................................................................................................................................8
Market Segmentation .......................................................................................................................................................................9
Category segmentation................................................................................................................................................................9
Geography segmentation ..........................................................................................................................................................10
Market share................................................................................................................................................................................11
Market distribution ......................................................................................................................................................................12
Market Outlook ................................................................................................................................................................................13
Market value forecast.................................................................................................................................................................13
Five Forces Analysis ......................................................................................................................................................................14
Summary......................................................................................................................................................................................14
Buyer power.................................................................................................................................................................................15
Supplier power ............................................................................................................................................................................16
New entrants ...............................................................................................................................................................................17
Threat of substitutes...................................................................................................................................................................18
Degree of rivalry..........................................................................................................................................................................19
Leading Companies........................................................................................................................................................................20
Gujarat Cooperative Milk Marketing Federation Ltd. ............................................................................................................20
KCMMF (Kerala Cooperative Milk Marketing Federation) ...................................................................................................22
Tamil Nadu Cooperative Milk Producers' Federation (TCMPF) ..........................................................................................23
Macroeconomic Indicators.............................................................................................................................................................24
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Country Data ...............................................................................................................................................................................24
Appendix...........................................................................................................................................................................................26
Methodology................................................................................................................................................................................26
Industry associations..................................................................................................................................................................27
Related MarketLine research....................................................................................................................................................27
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LIST OF TABLES
Table 1: India dairy market value: $ million, 2006–10.................................................................................................................8
Table 2: India dairy market category segmentation: $ million, 2010 ........................................................................................9
Table 3: India dairy market geography segmentation: $million, 2010 ....................................................................................10
Table 4: India dairy market share: % share, by value, 2010....................................................................................................11
Table 5: India dairy market distribution: % share, by value, 2010 ..........................................................................................12
Table 6: India dairy market value forecast: $ million, 2010–15 ...............................................................................................13
Table 7: Gujarat Cooperative Milk Marketing Federation Ltd.: key facts ...............................................................................20
Table 8: KCMMF (Kerala Cooperative Milk Marketing Federation): key facts ......................................................................22
Table 9: Tamil Nadu Cooperative Milk Producers' Federation (TCMPF): ke y facts ............................................................23
Table 10: India size of population (million), 2006–10................................................................................................................24
Table 11: India gdp (constant 2000 prices, $ billion), 2006–10...............................................................................................24
Table 12: India gdp (current prices, $ billion), 2006–10 ...........................................................................................................24
Table 13: India inflation, 2006–10................................................................................................................................................25
Table 14: India consumer price index (absolute), 2006–10 .....................................................................................................25
Table 15: India exchange rate, 2006–10.....................................................................................................................................25
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LIST OF FIGURES
Figure 1: India dairy market value: $ million, 2006–10 ...............................................................................................................8
Figure 2: India dairy market category segmentation: % share, by value, 2010 ......................................................................9
Figure 3: India dairy market geography segmentation: % share, by value, 2010 ................................................................10
Figure 4: India dairy market share: % share, by value, 2010 ..................................................................................................11
Figure 5: India dairy market distribution: % share, by value, 2010 .........................................................................................12
Figure 6: India dairy market value forecast: $ million, 2010–15..............................................................................................13
Figure 7: Forces driving competition in the dairy market in India, 2010.................................................................................14
Figure 8: Drivers of buyer power in the dairy market in India, 2010 .......................................................................................15
Figure 9: Drivers of supplier power in the dairy market in India, 2010 ...................................................................................16
Figure 10: Factors influencing the likelihood of new entrants in the dairy market in India, 2010 ......................................17
Figure 11: Factors influencing the threat of substitutes in the dairy market in India, 2010.................................................18
Figure 12: Drivers of degree of rivalry in the dairy market in India, 2010 ..............................................................................19
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MARKET OVERVIEW
Market definition
The dairy market consists of retail sales of cheese, chilled desserts, cream, fromage frais , milk, spreadable fats and
yogurt. An y currency conversions used in the creation of this report have been calculated using 2010 annual average
exchange rates.
For the purpose of this report Asia-Pacific comprises Australia, China, Japan, India, Singapore, South Korea, Indonesia,
the Philippines, Thailand, Vietnam, New Zealand, Hong Kong, Malaysia, Pakistan and Taiwan.
Market analysis
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MARKET DATA
Market value
The Indian dairy market grew by 10.5% in 2010 to reach a value of $5,096.1 million.
The compound annual growth rate of the market in the period 2006–10 was 13.1%.
Table 1: India dairy market value: $ million, 2006–10
Year
$ million
Rs. million
€ million
2006
3,119.6
143,302.1
2,350.3
2007
3,320.7
152,542.4
2,501.9
6.4%
2008
4,039.9
185,576.6
3,043.7
21.7%
2009
4,610.1
211,772.0
3,473.3
14.1%
2010
5,096.1
234,093.1
3,839.4
10.5%
CAGR: 2006–10
SOURCE: MARKETLINE
% Growth
13.1%
M AR KE TL IN E
Figure 1: India dairy market value: $ million, 2006–10
SOURCE: MARKETLINE
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MARKET SEGMENTATION
Category segmentation
Milk is the largest segment of the dairy market in India, accounting for 91.8% of the market's total value.
The Spreadable fats segment accounts for a further 3.6% of the market.
Table 2: India dairy market category segmentation: $ million, 2010
Category
2010
%
4,677.9
91.8%
Spreadable fats
181.4
3.6%
Yogurt & Fromage frais
Milk
112.4
2.2%
Cheese
91.7
1.8%
Cream
32.7
0.6%
0.0
0.0%
5,096.1
100%
Chilled desserts
Total
SOURCE: MARKETLINE
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Figure 2: India dairy market category segmentation: % share, by value, 2010
SOURCE: MARKETLINE
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Geography segmentation
India accounts for 7.8% of the Asia-Pacific dairy market value.
Japan accounts for a further 31.6% of the Asia-Pacific market.
Table 3: India dairy market geography segmentation: $million, 2010
Geography
2010
%
Japan
20,690.4
31.6
China
19,600.0
29.9
India
5,096.1
7.8
South Korea
2,494.2
3.8
Rest of Asia-Pacific
17,684.0
27.0
Total
65,564.7
100%
SOURCE: MARKETLINE
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Figure 3: India dairy market geography segmentation: % share, by value, 2010
SOURCE: MARKETLINE
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Market share
Gujarat Cooperative Milk Marketing Federation Ltd is the leading player in the Indian dairy market, generating a 34.1%
share of the market's value.
KCMMF (Kerala Cooperative Milk Marketing) accounts for a further 9.8% of the market.
Table 4: India dairy market share: % share, by value, 2010
Company
Gujarat Cooperative Milk Marketing Federation Ltd
% Share
34.1%
KCMMF (Kerala Cooperative Milk Marketing)
9.8%
TNCMPF (Tamil Nadu Cooperative Milk Producers)
9.7%
Others
46.4%
Total
100%
SOURCE: MARKETLINE
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Figure 4: India dairy market share: % share, by value, 2010
SOURCE: MARKETLINE
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Market distribution
Independent Retailers form the leading distribution channel in the Indian dairy market, accounting for a 9.9% share of the
total market's value.
Specialist retailers accounts for a further 5.8% of the market.
Table 5: India dairy market distribution: % share, by value, 2010
Channel
% Share
Independent Retailers
9.9%
Specialist retailers
5.8%
Supermarkets / hypermarkets
5.7%
Others
78.6%
Total
100%
SOURCE: MARKETLINE
M AR KE TL IN E
Figure 5: India dairy market distribution: % share, by value, 2010
SOURCE: MARKETLINE
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MARKET OUTLOOK
Market value forecast
In 2015, the Indian dairy market is forecast to have a value of $7,387.5 million, an increase of 45% si nce 2010.
The compound annual growth rate of the market in the period 2010–15 is predicted to be 7.7%.
Table 6: India dairy market value forecast: $ million, 2010–15
Year
$ million
Rs. million
€ million
% Growth
2010
5,096.1
234,093.1
3,839.4
10.5%
2011
5,608.5
257,631.9
4,225.5
10.1%
2012
6,075.2
279,072.3
4,577.1
8.3%
2013
6,509.3
299,011.2
4,904.2
7.1%
2014
6,948.4
319,181.1
5,235.0
6.7%
2015
7,387.5
339,351.0
5,565.8
6.3%
CAGR: 2010–15
SOURCE: MARKETLINE
7.7%
M AR KE TL IN E
Figure 6: India dairy market value forecast: $ million, 2010–15
SOURCE: MARKETLINE
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FIVE FORCES ANALYSIS
The dairy market will be analyzed taking manufacturers/packagers of dairy products as players. The key buyers will be
taken as food retailers, and dairy farmers as the key suppliers.
Summary
Figure 7: Force s driving competition in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
The Indian dairy market is fairly concentrated, with top three players holding 53.6% of the total market value.
Suppliers commonly integrate forward, as dairy co-operatives offer farmers the opportunity to access larger markets and
use capital items, such as packaging and processing plants. The dairy market is fairly easy to enter as a small
enterprise, however in order to supply to the mass market consumer companies must be large and have some level of
integration, if successful market entry is to be secured. A w ide range of food and drink products can be used in similar
ways to dairy products and therefore it becomes easy for consumers to replace dairy products with such alternatives, if
dairy prices rise too high. Rivalry, however, is strong as there are numerous players present that are generally similar to
one another despite most operating diverse dairy portfolios.
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Buyer power
Figure 8: Drivers of buyer power in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
In India, the main distribution channels for the dairy market are independent retailers, which account for 9.9% of the total
market value. Food and beverage retail is fragmented in India: the non -organized segment accounts for a significant
share of its revenues, and independents and small supermarket chains are significant in the organized segment.
Stringent regulations make it difficult for large foreign retailers, such as Wal -Mart, to gain access to the retail market. In
these circumstances, where market players have many small potential buyers, buyer power is weakened. It is difficult to
differentiate staple foods, such as milk and butter; however, cheese and yogurt products are more differentiated, with a
number of niche cheese markets in operation. The dairy market is highly price sensitive, as buyers will tend to choose
the cheaper option, especially in the milk market, subsequently enhancing buyer power. Manufacturers can target end users with their branding strategies, or develop more individual, p remium products, such as organic yoghurt, to counter
balance the power of buyer to make purchasing decisions on price alone. Overall, buyer power is assessed as strong.
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Supplier power
Figure 9: Drivers of supplier power in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
Key suppliers to this market are dairy farmers. Dairy products are by definition made of milk, and there are therefore no
real alternatives to raw materials. Dairy cooperatives, which typi cally integrate dairy farming, milk collection, processing,
and packaging, are present in developed-economy markets (e.g. Campina in Europe); however, they have a much more
prominent role in India. Almost 100,000 dairy cooperatives are organized into 170 "producer unions", which are
combined at state level into 15 cooperative milk marketing federations. Some of the latter have strong brands and enjoy
consumer recognition, i.e. Amul. As the Indian market is dominated by such cooperatives, the suppliers of in terest are
further upstream, and include manufacturers of cattle feed, milking machines, packaging, and providers of service, such
as veterinary care and artificial insemination. The products involved are fairly commoditized, and there are a reasonable
number of suppliers; also, the ability of cooperatives to purchase on behalf of their members (who may be very small scale farmers) means that supplier power is correspondingly decreased. Overall, supplier power is moderate.
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New entrants
Figure 10: Factors influencing the likelihood of new entrants in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
In the Indian dairy market, small-scale entry, perhaps as an artisanal producer of premium dairy products, does not
require very large amounts of capital. However, for new entrants aiming to challenge the major players in the mass consumer market, entry barriers are higher. Scale economies in production are important, especially in countries, where
a consolidated food retail sector means that players are forced to compete intensely on price. Most dairy products are
perishable, which means that reliable supply and distribution chains are vital to avoid the costs of wastage - this can be a
particular barrier to entry in less developed economies. Leading dairy product manufacturers may have strong brands,
more apparent yogurt and butter products, aimed at retaining end -user loyalty, which means that new players will have a
more difficult task to distinguish their own brands. Overall, there is a strong likelihood of new players in the dairy market.
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Threat of substitutes
Figure 11: Factors influencing the threat of substitute s in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
From the consumer's point of view, dairy products may be used directly as food or beverages, but also ingredients for
other home-made foods. There is a wide range of food and drink that can be used in similar ways to dairy products, so if
dairy prices raise too high, it is possible for consumers to replace them with alternatives. This reduces the pricing
freedom of retailers and market players. Some of the alternatives may have advantages for retailers, such as cheaper
storage or higher margins. Dairy products are important parts of most peoples' diet, with the benefits of calcium highly
publicized, therefore are unlikely to be completely replaced. Overall, the threat of substitutes is assessed as moderate.
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Degree of rivalry
Figure 12: Drivers of degree of rivalry in the dairy market in India, 2010
SOURCE: MARKETLINE
M AR KE TL IN E
The Indian dairy market is fairly concentrated, with top three players holding 53.6% of the total market value. The market
is dominated by milk federations, such as Gujarat Co-operative Milk Marketing Federation and Kerala Cooperative Milk
Marketing Federation. This indicates the presence of large sized competitors, which boosts rivalry. Switching costs for
buyers are not particularly high, although some retailers may allocate contracts to single suppliers of dairy products. The
larger multinational players tend to operate in a number of fast moving consumer goods markets, therefore may not be
as reliant on sales of dairy products, which decreas es rivalry. As dairy products are usually perishable, storage costs are
high. Industrial production of dairy products requires substantial, specialized assets, and the need to sell these off when
leaving the market translates into high exit costs. The strong growth in the Indian dairy products market in recent years
eases rivalry to a certain extent. Overall, rivalry is assessed as moderate.
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LEADING COMPANIES
Gujarat Cooperative Milk Marketing Federation Ltd.
Table 7: Gujarat Cooperative Milk Marketing Federation Ltd.: key facts
Head office:
Amul Dairy Road, Anand 388 001, Gujarat, IND
Telephone:
91 2692 258 506
Fax:
91 2692 240 208
Website:
www.amul.com
SOURCE: COMPANY WEBSITE
M AR KE TL IN E
Gujarat Cooperative Milk Marketing Federation (GCMMF) is a dairy product co-operative engaged in the marketing and
distribution of dairy products, including milk powder, cheese, butter, ghee, ice cream and baby milk. The company
primarily operates in India, where it is headquartered in Anand, Gujarat.
GCMMF sells its products largely under the Amul brand name. It offers a range of fresh, UHT and low fat milk products,
as well as cheeses, flavored milk and yogurts under this name. The company also markets a malt chocolate drink under
the brand Nutramul.
The company's product lines include spreads, cheese, ethnic sweets, UHT milk, milk for infants, milk powders,
sweetened condensed milk, fresh milk, curd, ice creams, chocolate and confectionery, brown beverages, milk drinks and
health beverages.
The company offers spreads under the brands Amul Butter, Amul Lite and Delicious Table Margarine.
Its milk drinks portfolio consists of brands such as Amul Kool Millk Shaake, Amul Kool, Amul Kool Cafe, Kool Koko,
Nutramul energy drink, Amul Lassee, Amul Masti (spiced buttermilk), and Amul Kool Thandai.
GCMMF’s powder milk products comprises infant milk foods marketed under the Amul Spray Infant Milk Food brand; full
cream milk powder under the Amul Instant Full Cream Milk Powder brand; skimmed milk powder and tea & coffee
whitener under the brand Sagar; and dairy whitener under the brand Amulya.
Fresh milk with different pasteurizations are marketed under brands such as Amul Gold, Amul Fresh, Amul Taaza
(double toned milk), Amul Lite Slim and Trim Milk, Amul Fresh Cream, Amul Shakti (toned milk), and Amul calci+ and
Amul Buttermilk.
GCMMF markets pasteurized processed cheese under the brands Amul Pasteurised Processed Cheese, Amul Cheese
Spreads, Amul Emmental Cheese, Amul Pizza Mo zzarella Cheese and Gouda Cheese.
The company also offers desserts such as ice creams (Amul Ice Creams), traditional sweets (Amul Shrikhand),
chocolates (Amul Chocolates), and concentrated milk based products (Amul Basundi).
The company provides cooking products such as butter, pizza (Amul Utterly Delicious Pizza), sweetened condensed milk
(Amul Mithai Mate), and packed curd (Amul Masti Dahi). The company also offers health drinks under the brands such
as Nutramul and Amul Shakti.
The company markets its products through dairy and ice-cream distributors, as well as online website. GCMMF also
exports its products to the US, the Gulf countries and Singapore.
Key Metrics
As this company is privately held, financial information is not available.
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KCMMF (Kerala Cooperative Milk Marketing Federation)
Table 8: KCMMF (Kerala Cooperative Milk Marketing Federation): key facts
Head office:
Milma Bhavan, Pattom Palace, Thiruvananthapuram, Kerala, IND
Telephone:
91 471 2555981
Fax:
91 471 2555992
Website:
www.milma.com
SOURCE: COMPANY WEBSITE
M AR KE TL IN E
Kerala Co-operative Milk Marketing Federation (KCMMF) is engaged in the manufacturing and marketing of milk and
milk derivatives. Its product portfolio includes milk (fat free milk, toned milk, standardized milk and pasteurized flavored
skimmed milk); ice cream (available in a range of flavors: vanilla, chocolate, mango, strawberry and fruit & nut); curd
(butter milk, curd and sweetened curd); cattle feed; beverages (flavored health drinks and mango dri nk); and sweets
(cream roll).
These products are marketed under brands such as Milma milk, Milma ice -cream, Milma Sambharam (butter milk),
Milma Butter (butter), Milma Refresh (mango drink) and Milma Peda (sweets).
The company manufactures these products through 11 dairies, 13 milk chilling centers, two cattle feed plants and one
milk powder plant, and markets them through a chain of 5,200 retail outlets across Kerala.
Key Metrics
As the company is privately held, financial information is not available.
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Tamil Nadu Cooperative Milk Producers' Federation (TCMPF)
Table 9: Tamil Nadu Cooperative Milk Producers' Federation (TCMPF): key facts
Telephone:
Aa vin Illam, Madhavaram Milk Colony, Chennai, Tamil Nadu - 600 051,
IND
91 44 2555 5531
Fax:
91 44 2555 5638
Website:
www.nddb.org/partners/tcmpf.html
Head office:
SOURCE: COMPANY WEBSITE
M AR KE TL IN E
Tamil Nadu Cooperative Milk Producers' Federation (TCMPF) is an India -based dairy co-operative society. The company
produces and markets milk and other milk-derived dairy products. The company runs 12 co-operative unions 15 dairy
plants in Tamilnadu, India.
TCMPF produces and markets a wide range of dairy products, such as skim milk powder, sweets, butter, cheese,
yoghurt, table butter, flavoured milk, ice-cream, UHT standardized milk, and butter milk. The company markets its
products under the flagship brand Aavin.
Key Metrics
No financial information is available for this company.
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MACROECONOMIC INDICATORS
Country Data
Table 10: India size of population (million), 2006–10
Year
Population (million)
% Growth
2006
1,119.8
1.5%
2007
1,136.6
1.5%
2008
1,150.2
1.2%
2009
1,166.2
1.4%
2010
1,182.1
1.4%
SOURCE: MARKETLINE
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Table 11: India gdp (constant 2000 price s, $ billion), 2006 –10
Year
Constant 2000 Prices, $ billion
% Growth
2006
712.8
9.5%
2007
782.0
9.7%
2008
828.5
5.9%
2009
895.0
8.0%
2010
978.0
9.3%
SOURCE: MARKETLINE
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Table 12: India gdp (current price s, $ billion), 2006 –10
Year
Current Prices, $ billion
% Growth
2006
947.8
13.2%
2007
1,205.8
27.2%
2008
1,288.0
6.8%
2009
1,343.3
4.3%
2010
1,689.0
25.7%
SOURCE: MARKETLINE
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Table 13: India inflation, 2006–10
Year
Inflation Rate (%)
2006
6.2%
2007
6.4%
2008
8.3%
2009
10.9%
2010
12.0%
SOURCE: MARKETLINE
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Table 14: India consumer price index (absolute), 2006–10
Year
Consumer Price Index (2000 = 100)
2006
128.8
2007
137.0
2008
148.5
2009
164.6
2010
184.4
SOURCE: MARKETLINE
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Table 15: India exchange rate, 2006–10
Year
Exchange rate ($/Rs.)
Exchange rate (€/Rs.)
2006
45.3188
56.8596
2007
41.3570
56.5898
2008
43.8145
64.1115
2009
48.8500
67.9264
2010
45.9361
60.9708
SOURCE: MARKETLINE
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APPENDIX
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in -house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
-
National/Governmental statistics
-
International data (official international sources)
-
National and International trade associations
-
Broker and analyst reports
-
Company Annual Reports
-
Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
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India - Dairy
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Industry associations
Indian Dairy Association
IDA House, Sector-IV, R.K. Puram, New Delhi-110 022
Tel.: 91 11 2617 0781
Fax: 91 11 2617 4719
www.indairyasso.org
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India - Dairy
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Dairy in Brazil
Dairy in Australia
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India - Dairy
© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
0102 - 0711 - 2010
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