Dairy Sector Check - Organised Players Will Continue To Gain Market Share: ICICI Securities
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ICICI Securities Report
The sector was largely unaffected in FY21 as milk and milk products are essential commodities.
However, we note the following trends emerged in FY21 and are likely to continue even in FY22:
Organised dairies will continue to (structurally) gain market share.
Reduction in consumption of impulse products such as ice cream, butter milk, flavoured milk.
Decline in market potential of new categories like whey protein powder, custards and premium cheese variants as consumers focus on essentials.
Direct distribution to large societies using own logistics/app developed by dairy companies.
Milk packaging in tetra packs and dairy whitener will continue to grow at healthy rates.
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