Global Ghee Market Projected to Surpass USD 91.86 Billion by 2033 with a CAGR of 5.89%
Source: The DairyNews
The Global Ghee Market Size was valued at USD 51.85 Billion in 2023 and expected to reach USD 91.86 Billion by 2033, according to a research report published by Spherical Insights & Consulting.
In 2023, the Global Ghee Market attained a valuation of USD 51.85 Billion, and industry experts anticipate it to soar to USD 91.86 Billion by 2033, reveals a research report from Spherical Insights & Consulting.
Ghee, the clarified butterfat extracted after removing milk solids and water from butter, has witnessed a substantial surge in market demand. Recognized for its richness in protein, vitamins, calcium, iron, and omega-3 fatty acids, ghee not only promotes brain and heart health but also addresses inflammation and various ailments. Its consumption is on the rise globally, attributed to benefits like immune system strengthening, facilitating bowel movement, and preventing chronic cough issues and eye disorders.
The increasing availability of ghee in supermarkets, specialty food stores, and online platforms has enhanced consumer convenience and accessibility, thereby propelling the global ghee market. Additionally, countries with robust ghee manufacturing capabilities are exploring export opportunities to meet the rising demand in foreign markets, contributing to market expansion.
However, challenges such as food safety regulations, labeling specifications, and import/export restrictions pose hurdles for ghee producers and distributors, potentially impeding industry growth. Economic downturns, currency fluctuations, and shifts in disposable income levels can influence consumer purchasing power and impact spending on luxury items like ghee, potentially affecting market dynamics.
Asia-Pacific Dominates, North America Emerges as the Fastest-Growing Market
Asia-Pacific is anticipated to secure the largest share in the global ghee market, driven by abundant raw material production, particularly milk. India, a major contributor to milk production, plays a pivotal role in the region's dominance. Growing awareness of the health benefits associated with ghee consumption among Asian consumers further fuels market growth.
North America is poised to experience the swiftest expansion in the global ghee market during the forecast period. The increasing demand for healthy foods and favorable fats among Americans is expected to drive ghee sales. Rising awareness of health and wellness in the region, coupled with easy product availability on various e-commerce platforms, is set to propel market growth.
Ghee, the clarified butterfat extracted after removing milk solids and water from butter, has witnessed a substantial surge in market demand. Recognized for its richness in protein, vitamins, calcium, iron, and omega-3 fatty acids, ghee not only promotes brain and heart health but also addresses inflammation and various ailments. Its consumption is on the rise globally, attributed to benefits like immune system strengthening, facilitating bowel movement, and preventing chronic cough issues and eye disorders.
The increasing availability of ghee in supermarkets, specialty food stores, and online platforms has enhanced consumer convenience and accessibility, thereby propelling the global ghee market. Additionally, countries with robust ghee manufacturing capabilities are exploring export opportunities to meet the rising demand in foreign markets, contributing to market expansion.
However, challenges such as food safety regulations, labeling specifications, and import/export restrictions pose hurdles for ghee producers and distributors, potentially impeding industry growth. Economic downturns, currency fluctuations, and shifts in disposable income levels can influence consumer purchasing power and impact spending on luxury items like ghee, potentially affecting market dynamics.
Asia-Pacific Dominates, North America Emerges as the Fastest-Growing Market
Asia-Pacific is anticipated to secure the largest share in the global ghee market, driven by abundant raw material production, particularly milk. India, a major contributor to milk production, plays a pivotal role in the region's dominance. Growing awareness of the health benefits associated with ghee consumption among Asian consumers further fuels market growth.
North America is poised to experience the swiftest expansion in the global ghee market during the forecast period. The increasing demand for healthy foods and favorable fats among Americans is expected to drive ghee sales. Rising awareness of health and wellness in the region, coupled with easy product availability on various e-commerce platforms, is set to propel market growth.
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