Indian dairy market to reach US$314 billion by 2026
In 2023, India became the most populous country in the world with a population of 1.43 billion people, accounting for a sixth of the world's total population. Expert Kevin Bellamy, one of the speakers at the 2024 Dairy Olympics in Ankara, Turkey, is now actively investing in the dairy industry of this country, as he sees great potential there.
“India will continue to strive for growth in the dairy industry. However, it probably won't create mega-farms like those in China. Instead, the peasant will remain dominant - herd sizes will gradually increase - from 2-5 cows to 15-20 cows, making machine milking and mass cooling possible. This will lead to further improvement in milk quality and yield. The Indian dairy market is expected to reach US$314 billion by 2026, accounting for 5% of the country's total GDP. It is currently the world's fifth largest economy, but is predicted to rise to third place by 2029, with average annual GDP growth of 7% since 1980. Its young and increasingly affluent population, with an average age of 28, is highly ambitious, and by the end of the decade India is projected to overtake the US to become the world's second-largest middle-class economy. The next decade will be a decade of growth for India, and the Indian dairy sector will play a leading role,” the expert is confident.
Read the full interview with Kevin Bellamy here .
About the event:
The Dairy Olympics is one of the world's largest events, annually bringing together hundreds of representatives of the global dairy industry.
The main goal of the Dairy Olympics is to determine the prospects for the global dairy market, assess existing industry problems, forecast trends that will have the greatest impact on the industry, and search for new opportunities.
Turkey, one of the most dynamically developing dairy countries in the world, has been chosen as the venue for the 2024 Dairy Olympics. The 2024 Olympics expects about 500 delegates from 30 countries.
You can register to participate in the 2024 Dairy Olympics using this link .
