According to the latest report by IMARC Group, titled, “Dairy Industry in Bihar: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, provide the bihar dairy market size reached a volume of 5.32 Million Tons in 2021. Looking forward, the market is expected to reach 7.01 Million Tons by 2027, exhibiting at a CAGR of 4.5% during 2022-2027.The report provides a detailed analysis of the market by product type and Also, the report analyzes of market’s competitive landscape.
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Industry Definition and Application:
Dairy farming in Bihar represents an important source of income and employment for a large number of poor and landless families. Despite this, the dairy industry is highly unorganised and various efforts are being made towards its development. For instance, the Bihar State Milk Co. Federation, which markets its products under the label Sudha Dairy, has taken various initiatives for improving the breed and health of animals as well as enhancing fodder and feed availability. In addition, the state cooperative has been following “Anand” pattern of dairying activities which has positively contributed to the market growth. Apart from this, the state has also been included in the National Dairy Plan (NDP) of the National Dairy Development Board (NDDB), wherein the milk cooperatives will be provided support to offer rural milk producers greater access to the organised milk processing sector.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
Despite being unorganised, it represents a highly lucrative market with ample untapped opportunities. As a result, many brands like Osam and Gyan are planning to set up their processing plants in Bihar, thereby, adding to the number of milk processing plants. Moreover, factors such as strong GDP growth, increased purchasing power, health-conscious consumer base and improving distribution networks are further expected to propel the market growth.
Bihar Dairy Market Segmentation:
The report has segmented on the basis of product type.
Skimmed milk powder
Sweet condensed milk
Malt based beverages
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