Page 12 - Dairy Dimenison Aug-Sep24

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operations and decision-making. In my view, the Government of India, which is committed to improving
essential prerequisites for effective leadership in the milk output and enhancing the lives of our farmers.
dairy sector are: Manufacturers must continuously innovate to stay
1. Proactive market analysis ahead in this evolving ecosystem.
2. Ongoing efforts to ensure and improve the At Milky Mist, we are confident in our goal of becoming a
availability of raw milk USD 1 billion company by 2027-28. We have made
3. Minimal turnaround time for introducing new significant progress in previously untapped markets and
products are on track to becoming a truly pan-Indian brand. With
4. Strict vigilance on quality issues our growth projections and unwavering focus on
product quality and innovation, we anticipate a bright
5. Customer satisfaction
future for our company and its products.
6. Close monitoring of the company's financial health
Lastly, what advice would you offer to aspiring
What do you see as the biggest opportunities and entrepreneurs looking to enter the dairy industry
challenges facing the Indian dairy industry today? based on your own experiences and learnings?
India ranks #1 in the world for milk production, but its India's dairy sector offers significant opportunities for
performance in terms of average yield per milch animal growth, with per capita milk consumption expected to
is less satisfactory. To address this issue, we need to increase to 500 grams per day in the near future. This
develop a concrete long-term strategy. Additionally, growth presents a chance for companies that align with
there has been a noticeable decline in the availability of emerging market trends and consumer demands.
fodder for milch animals, which also requires urgent However, there are psychological and financial entry
attention. barriers to consider.
There are significant opportunities in the market as For budding entrepreneurs looking to make their mark
companies expand their product portfolios or introduce in the dairy sector, focusing on two key aspects—quality
new ranges to meet growing consumer demands. and affordability—is essential. High-quality products at
Consumers are no longer satisfied with just vanilla milk; reasonable prices are always preferred by Indian
they are increasingly interested in experimenting with consumers, as exemplified by Milky Mist. Additionally, a
new, protein-rich value-added products. This trend, passion for innovation in both product development and
which emerged post-COVID-19, has gained momentum packaging is crucial. We started from scratch, gradually
as improved financial health allows consumers to building our product portfolio while maintaining a strong
explore a wider variety of dairy products. emphasis on quality and freshness. Finally, success in The Rise of Plant-Based Milk
How does Milky Mist Dairy stay innovative and this sector requires ongoing attention to manufacturing,
adaptable in a constantly evolving dairy industry? marketing, and sales to remain relevant in the evolving The success of plant-based milk is evident across As a result, non-dairy milk has firmly established itself as
What do you envision for the future of Milky Mist dairy ecosystem. Europe. Major supermarkets are stocked with an array a household staple, reflecting its widespread adoption
Dairy in the short and long term? of plant-based milk options, available in both the chilled and integration into daily life.
The Indian dairy sector is robust, and long-life sections. Off-trade channels, such as supermarkets,
growing at a healthy rate of over This trend extends beyond retail, with plant-based milk hypermarkets, convenience stores, online retailers, and
8% year-on-year. While issues making its way into popular food service venues, high- specialty food stores, are the fastest-growing distribution
like Lumpy Skin Disease (LSD) profile hotels, and even schools throughout Europe. In segment for plant-based milk. As European consumers
recently threatened milk our homes, non-dairy milk has become a staple, increasingly frequent these venues and online retail
production, the situation has reflecting its growing integration into everyday life. expands, the off-trade sector is poised for significant
been brought under control An overview of the plant-based milk industry growth. Currently, off-trade channels dominate the
thanks to the efforts of our Plant-based milk has clearly achieved significant success plant-based milk market, commanding a substantial
medical professionals. across Europe. Supermarkets now feature a diverse 97.79% of its value share.
Nevertheless, we must remain range of plant-based milk products, found in both the Industry leader
vigilant against such livestock chilled and long-life sections. With a remarkable 66.8% share of the plant-based
diseases. Overall, the future market, non-dairy milk stands out as the leading
outlook for the dairy sector is This trend is not limited to retail; plant-based milk has category in the plant-based industry.
bright, with support from the also become a fixture in popular food service venues,
renowned hotels, and even schools throughout Europe. Source: ProVeg International

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