The global ghee market is set to gain traction from its rising popularity in various countries as a superfood. It is mainly recommended as a healthy food by doctors, yoga centers, and fitness studios. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Ghee Market Size, Share & Industry Analysis, By Type (Cow Ghee, Buffalo Ghee, Others), By Application (Industrial, Household) and Regional Forecast, 2020-2027.” The report further states that ghee is very popular in the Asian countries, especially in India because of its extensive usage in numerous Ayurveda medicines.
The COVID-19 pandemic has affected the food and beverages industry drastically because of the disruptions in supply chains and halt of production. In addition to this, shortages of workers in production facilities across the globe have also declined growth. We are delivering elaborate reports to help you cope up with the current situation and gain business confidence.
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How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
Drivers & Restraints-
Increasing Usage of Ghee as Cooking Oil to Augment Growth
Ghee has a unique taste and flavor. It is also a carrier of fat-soluble vitamins, such as K, E, D, and A. These are essential for the human body to perform several significant functions. In addition to this, the product can be used as an alternative to cooking oil because of its healing properties and aroma. It is also a great source of conjugated linoleic acid. These factors are expected to bolster the ghee market growth in the near future. However, the increasing shift of consumers towards low-fat and vegan diet may hinder growth.
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Asia Pacific to Remain at the Forefront Fueled by Rising Production of Raw Materials
Geographically, Asia Pacific is expected to hold a prominent ghee market share in the coming years. This growth is attributable to the increasing production of raw materials, such as milk in the region. The Department of Animal Husbandry and Dairying, India, for instance, declared that milk production in India was 165.4 million tons during 2016-17. But, it surged from 17 million tons to 176.4 million tons between 1950-51 to 2017-18.
North America, on the other hand, is anticipated to grow steadily backed by the high demand for good fat and healthy food in the region. Apart from that, the rising consciousness of health and wellness among people would bolster growth. Besides, the surging usage of e-commerce platforms is making ghee easily available for consumers in this region.
Key Players Focus on Launching Innovative Products & Campaign to Compete in Market
The global market for ghee houses a large number of manufacturers that are mainly aiming to strengthen their positions by launching state-of-the-art products. Some of the others are introducing novel campaigns to attract more consumers. Below are the two latest industry developments:
- November 2020: Nutiva, a provider of healthy and sustainable food items unveiled its brand new line of organic vegan ghee in the U.S. The new product is the first dairy-free and versatile ghee alternative. It contains a blend of vegan ghee flavoring, avocado oil, and steam-refined coconut oil.
- November 2020: Mother Dairy, an Indian food processing company launched a unique campaign named #KhushbooApnepanKi. It aims to stimulate togetherness and evoke nostalgia during the winter season by focusing on the consumption of ghee.
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A list of all the prominent ghee manufacturers operating in the global market:
- Britannia Industries Ltd.
- Milkfood Limited
- Madhusudan Ghee
- Karnataka Milk Federation
- Nestle S. A.
- Parag Milk Foods
- RSD Group
- VRS Foods
- Other key companies
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