Top 10 Dairy Companies Ruling the India Dairy Market

The India dairy market reached a value of nearly USD 9,918.0 billion in 2023. The market is projected to grow at a CAGR of 14.0% between 2024 and 2032 and reach around INR 32,081.40 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by a shift towards health and wellness which is increasing the demand for healthier dairy products.

Dairy products are rich in nutrients like protein, vitamin D, calcium, potassium, and phosphorus and can be categorised into various types of products. Among these products, milk comes across as a versatile dairy product consumed worldwide. It is available in various forms such as whole milk, low-fat milk, and skim milk catering to different consumer needs. Other products in this industry includes various types of cheese such as cottage, mozzarella and cheddar; yoghurt, butter, ice cream, buttermilk and cream, ghee, paneer, and milk powder among others.

The rising consumption resulting from population expansion and rising income levels is one of the key drivers of propelling dairy market in India. Dairy products are becoming more and more popular as a source of important nutrients, such as vitamins, minerals, and proteins. This demand goes beyond traditional dairy products to include value-added goods like probiotic drinks, flavored yogurts, and fortified milk. By introducing a variety of health-focused products, dairy companies are profiting from this trend and successfully appealing to consumers' demand for diet-based health.

Technological innovation in production methods leads the India dairy market growth. Automated or mechanized milk collection, automatic dairy plant operation and RFID-based chips that help track the performance and history of the herd are some of the many modern facilities available to producers in this industry.

In April 2023, Mother Dairy Fruit and Vegetable Pvt Ltd, announced its plans to launch nearly 100 products over 3 years. The company announced the plans as a move to reaffirm its position as a leading player in the dairy domain. In September 2023, ITC Limited, a diversified conglomerate, announced its entry into the Jharkhand dairy industry in India. The company launched several products under the brand "Aashirvaad Svasti," that would offer a wide range of products including paneer, curd, mishti doi, and lassi.

India Top 10 Dairy Companies:

Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF

Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) is one of India's biggest food product marketing organisations. The company is also popularly known as ‘Amul’ and has an annual turnover of over USD 7 billion. Amul’s daily procurement of milk is close to 25.9 million litres from over 18,600 village cooperatives. The cooperative has over 3.64 million milk-producing members and has a diverse product portfolio including milk, milk powder and beverages, cheese, ice cream, ghee, butter, paneer, chocolate, and other traditional desserts.

Karnataka Co-operative Milk Producers Federation Limited (KMF)

Karnataka Cooperative Milk Producers' Federation Limited (KMF) stands as one of India's largest dairy cooperatives in terms of sales and procurement. The company is serving as the leading body for the dairy cooperative movement in Karnataka. Products made by the cooperative are sold under the well know brand name "Nandini," known for its freshness and purity. KMF operates across the state of Karnataka through 15 milk unions, procuring milk from cooperative societies and distributing it to consumers across different markets.

Orissa State Cooperative Milk Producers Federation Ltd (OMFED)

Orissa State Cooperative Milk Producers Federation Ltd (OMFED) is a head dairy cooperative society which was registered under the Cooperative Society Act in 1962. It was founded following the model of dairy cooperatives in India. The development of rural farming communities economically in Odisha is promoted through OMFED's activities including the procurement, production, processing, promotion, and marketing of milk and its products.

Maharashtra Rajya Sahakari Dudh Mahasangh Maraydit

Serving as an Apex Federation of District/Taluka milk unions in Maharashtra, Maharashtra Rajya Sahakari Dudh Mahasangh Maraydit also operates under the name Mahanand Dairy. With an expansive portfolio that includes products like paneer, milk, curd, ghee, lassi, shrikhand and other proprietary milk products, Mahanand cooperative has more than 24,000 primary milk societies and 85 member unions and it procures milk from producers and sells it across Maharashtra.

Punjab State Cooperative Milk Producers Federation Limited

Punjab State Cooperative Milk Producers Federation Limited (MILKFED) which operates under its flagship brand name ‘Verka’ was founded in 1973. The company manufactures milk while adhering to rigorous quality control protocols and in a bid to reach a wider audience, it also markets its dairy products like milk, yoghurt, dahi, lassi, paneer, butter, ghee, cream, cheese, ice cream and milk powder among others are some products that the company specialises in.

Mother Dairy Fruits & Vegetables Pvt Limited

Mother Dairy was established in 1974 as a subsidiary of the National Dairy Development Board (NDDB) as part of Operation Flood, which aimed to make milk production in India self-sufficient. The company sells a range of products such as milk, ice cream, and ghee to butter and cream. It is also involved in the production, procurement, processing, and marketing of fresh, frozen, processed, dried, and dairy products as well as agricultural goods.

Britannia Industries Ltd.

Britannia Industries Ltd. serves over 1 billion consumers in the Indian subcontinent and has a rich history of over 120 years. The company is a seasoned player and operates across multiple segments including biscuits, breads, cakes, dairy, and snacks. Britannia is committed to innovation, sustainability, and social responsibility and they showcase this commitment by sourcing dairy from trusted suppliers and applying strict quality control measures, offering a range of dairy products such as cheese, ghee, paneer, dahi, lassi and milkshakes.

Nestle India Limited

Nestle’s association with India dates back to 1912 whereas a trading entity it was a significant contributor to the food industry of India. NESTLÉ India manufactures products under brands that are internationally famous such as MILKYBAR, KIT KAT, BAR-ONE, and NESCAFÉ. The company has also introduced a range of dairy products such as NESTLÉ Dahi, NESTLÉ Milk, NESTLÉ Jeera Raita and NESTLÉ SLIM Milk in recent years.

VRS Foods Limited

VRS Foods Limited was established as PARAS in 1960 and has since evolved into a key player in the Indian dairy landscape. Through the company's continuous investments in technology, PARAS caters to the needs of its clients and in Delhi, the company sells over 2,50,000 litres of milk per day. The company has comprehensive village-level collection centres covering over 5400 villages across Rajasthan, U.P., Maharashtra, Gujarat, and Haryana.

Parag Milk Foods Limited

Parag Milk Foods Ltd, established in 1992, specialises in a portfolio of over 15 consumer-centric dairy product categories and is focused on providing high-quality milk and milk products. Committed to international quality standards the company has a processing capacity of over 3.4 million litres per day. Parag Milk Foods Ltd offers a diverse portfolio of dairy products including ghee, fresh milk, cheese, butter, curd, lassi, buttermilk and proprietary food products such as gulab jamun mix powder, dairy whitener, and whey protein products.