India: Yoghurt Market 2024

Yoghurt Market Size in India

The Indian yoghurt market shrank to $X in 2022, flattening at the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Yoghurt Production in India

In value terms, yoghurt production declined modestly to $X in 2022 estimated in export price. In general, production, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 71% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Yoghurt Exports

Exports from India

In 2022, approx. X tons of yoghurt were exported from India; rising by 102% on 2021 figures. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 744% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports soared to $X in 2022. Overall, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 750%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), Bahrain (X tons) and New Zealand (X tons) were the main destinations of yoghurt exports from India, together comprising 71% of total exports. Kuwait, Canada, Maldives, Angola, Nepal, Malaysia and Bhutan lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +98.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for yoghurt exported from India were New Zealand ($X), Singapore ($X) and Canada ($X), with a combined 59% share of total exports.

Canada, with a CAGR of +148.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average yoghurt export price stood at $X per ton in 2022, declining by -1.7% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt export price increased by +4.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 43%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+42.3%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into India

In 2022, after two years of decline, there was significant growth in overseas purchases of yoghurt, when their volume increased by 73% to X tons. Over the period under review, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 458% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, yoghurt imports totaled $X in 2022. In general, imports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2016 when imports increased by 801% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest supplier of yoghurt to India, with a 51% share of total imports. Moreover, yoghurt imports from Myanmar exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Myanmar totaled +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.7% per year) and South Korea (+4.7% per year).

In value terms, China ($X) constituted the largest supplier of yoghurt to India, comprising 46% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by the UK, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1.2% per year) and the UK (+28.2% per year).

Import Prices by Country

The average yoghurt import price stood at $X per ton in 2022, shrinking by -36.4% against the previous year. Over the period under review, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 when the average import price increased by 77% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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