New York, United States , Feb. 22, 2024 (GLOBE NEWSWIRE) -- The Global Ghee Market Size is to Grow from USD 51.85 Billion in 2023 to USD 91.86 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.89% during the projected period.
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Ghee is the pure butter fat left after the milk solids and water have been removed from the butter. It is rich in protein, vitamins, carbohydrates, calcium, iron, and omega-3 fatty acids. It promotes brain and heart health while also treating inflammation and several other diseases. Aside from that, because it strengthens the immune system, facilitates bowel movement, and prevents chronic cough issues and eye disorders, ghee consumption is increasing globally. As ghee becomes more widely available in supermarkets, specialty food stores, and online marketplaces, consumer convenience and accessibility improve, propelling the global ghee market. Furthermore, to meet the demand in foreign markets where ghee is becoming increasingly popular, countries with strong ghee manufacturing capabilities may look into export opportunities. This would help to grow the global ghee market. However, Furthermore, food safety regulations, labeling specifications, and import/export restrictions may present difficulties for ghee producers and distributors, hampering the industry's growth and expansion. Economic downturns, currency fluctuations, and changes in disposable income levels can all affect consumer purchasing power and willingness to spend on luxury items like ghee. These factors may hurt market dynamics.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on The "Global Ghee Market Size, Share, and COVID-19 Impact Analysis, By Source (Cow, Buffalo, Mixed), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online, Others), By End User (Retail, Institutional), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The cow segment is expected to grow fastest in the global ghee market during the forecast period.
Based on the source, the ghee market has been segmented into cow, buffalo, and mixed. Among these, the cow segment is expected to grow fastest in the global ghee market during the forecast period. The rising popularity of ghee is made entirely from cow's milk, which is thought to have specific health benefits and cultural significance in various regions. Customers value the purity and traditional richness associated with cow ghee. Cow ghee's reputation for being easier to digest and high in essential nutrients makes it a popular choice for those who value health and tradition.
The convenience stores segment is expected to grow at a significant pace in the global ghee market during the anticipated period.
Based on the end-use application, the global ghee market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, online, and others. Among these, convenience stores are expected to grow at a significant pace in the global ghee market during the forecast period. The convenience store segment is expanding due to rising demand for on-the-go and quick meal solutions, making ghee more accessible to busy consumers seeking immediate purchases. These stores prioritize convenience and accessibility, ensuring that customers can easily access ghee products throughout their daily lives.
The retail segment dominates the global ghee market during the forecast period.
Based on the distribution channel, the global ghee market is divided into retail and institutional. Among these, the retail segment dominates in the global ghee market during the forecast period. Consumer awareness of ghee's health benefits, as well as increased demand for clean labels and organic products, are driving growth in the retail segment. Consumers are actively seeking healthier cooking options, and ghee, with its nutritional value and natural appeal, meets this demand.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific is projected to hold the largest share of the global ghee market over the forecast period. Owing to the abundant production of raw materials, specifically milk. The Department of Animal Husbandry and Dairying publishes data on milk production in India. Furthermore, rising awareness of ghee's health benefits among Asian consumers is expected to boost the global ghee market in Asia Pacific. The presence of major market players, combined with easy product availability, is expected to boost the market in the region.
North America is expected to grow the fastest in the global ghee market during the anticipated forecast period. The rising demand for healthy foods and good fats among Americans is expected to boost ghee sales in the region. The growing awareness of health and wellness among Americans is expected to drive market growth. The ease of product availability on various e-commerce platforms is expected to boost ghee sales in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Ghee market are Amul, Nestle, Verka, Mother Dairy, Organic Valley, Kerry Group, Gujarat Cooperative Milk Marketing Federation, Patanjali Ayurved, Danone, VRS Foods, Royal Friesland Campina, KMF (Karnataka Milk Federation), & Others
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Recent Development
- In May 2022, KMF introduced a new premium variant of ghee under its flagship brand "Nandini." This high-quality ghee variant, dubbed "Nandini Gold Ghee," is designed to meet the discerning tastes of consumers seeking superior flavor and purity. KMF's commitment to quality and innovation has resulted in this new ghee product being a significant addition to its product portfolio, thereby strengthening its market presence.
Market Segment
This study forecasts revenue at global Ghee, regional, and country levels from 2022 to 2033. Spherical Insights has segmented the global Ghee market based on the below-mentioned segments:
Global Ghee Market, Source Analysis
- Cow
- Buffalo
- Mixed
Global Ghee Market, Distribution Channel Analysis
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
Global Ghee Market, End User Analysis
- Retail
- Institutional
Global Ghee Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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