According to the latest report by IMARC Group, titled “Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the cream market in India reached a value of US$ XX Billion in 2017, registering a CAGR of 13% during 2010-2017. Cream is a dairy product which accumulates at the surface of unhomogenised milk. There are various kinds of cream available for the consumers such as double, half-and-half, light, whipped, single, sour, long life (UHT), flavoured, pressure packed and crème fraiche. The cream accessible in the commercial market is sterilised at high temperature and packed aseptically so as to prevent spoilage and extend its shelf-life. Cream provides a consistency and smooth texture when added to food products, owing to which it finds application in the preparation of numerous beverages, desserts and dishes. Due to a huge bovine population, India is the largest producer of milk and, consequently, one of the leading manufacturers of cream worldwide.
One of the major factors providing a thrust to the market growth is the wide array of applications of cream. Cream is widely used in several food products such as ice-creams, milkshakes, tea, coffee, sauces, soups, pies, eggnogs, etc. Moreover, western influences have changed the dietary patterns of the consumers in the region, thereby increasing the preference for western food products such as chowder, crème brûlée, tiramisu, panna cotta, etc. In addition, surging preference for organic cream products owing to rising health awareness among the consumers has stimulated the growth of the cream market in India. Along with this, establishment of strong procurement network and better infrastructure facilities such as chilling centres and bulk coolers have assisted in the transportation of cream to remote areas. Furthermore, changes in macro-economic factors due to expanding working women population, rising number of nuclear families and improving per capita spending have strengthened the market growth. On account of these factors, the market value is projected to reach US$ 8 Billion by 2023, expanding at a CAGR of XX% during 2018-2023.
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Market Summary:
- On the basis of region, the report covers fifteen major states of India including Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa. Currently, Maharashtra represents the leading cream market in India, holding the majority of the total market share. Maharashtra is followed by Gujarat and Delhi.
- The competitive landscape of the Indian cream market has also been examined with some of the key players being Mother Dairy, GCMMF and Parag Milk Foods.
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