Project report for Milk Spread

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Introduction

The Indian dairy spreads market has primarily grown due to the growing demand for dairy spreads in emerging parts of the world. Dairy activities form an essential part of the rural Indian economy, serving as an important source of employment and income. The growing disposable income of consumers in emerging parts of in India has driven steady growth in the dairy spreads market, as consumers have become more aware of western products such as cheese and butter. The growing demand for bakery products such as bread and pastries is also likely to be a major driver for the dairy spread market, as dairy spreads are majorly used along with bakery products.

A spread is a food that is spread, generally with a knife, onto foods such as bread and crackers. Spreads are added to food to enhance the flavor or texture of the food, which may be considered bland without it. Butter and soft cheeses are typical spreads. A sandwich spread is a spreadable condiment used in a sandwich, in addition to more solid ingredients. Butter, mayonnaise, prepared mustard, and ketchup are typical sandwich spreads, along with their variants such as Thousand Island dressing, Tartar sauce, and Russian dressing.

Market potential & Strategy

The Global Food Spreads Market is expected to grow at a CAGR of 4.0% during the forecasting period (2021-2028). Food spreads can be applied to almost all food products; they add flavor to the food. As it is a crucial part of the Food diet, thus food spread consumption has a negligible effect from the economic downturn. The global pandemic has shown an impact on the proper functioning of the food spread industry in various regions. The consumption of nutritious and healthy spreads, which are free from additives and preservatives, gluten, and trans-fat, increased, as consumers were becoming health conscious and were preferring natural or low-sugar and sugar-free spreads.  Sweet spreads are an integral part of every breakfast, and this has led to their steady growth. The rising health consciousness among consumers has given way to new low-calorie spreads. Food spreads comprise a variety of products, such as jams, jellies, fruit and nut-based spreads, honey, syrups, and chocolate-based spreads. The growing awareness in emerging regions regarding the products available in the bakery industry is thus likely to be a major driver for the dairy spread market over the forecast period.

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