Dairy biz to grow by 9-11 pc in FY22: Report

The industry-wide demand to grow by 9-11 per cent in the financial year 2021-22, Icra said in a report maintaining a stable outlook for the diary industry over the long term. Revival in economic activities, increasing per capita consumption of milk and milk products, changing dietary preferences due to rising urbanisation, and continued government support to the dairy industry will drive demand, it added.

Domestic milk production is estimated to increase by 5-6 per cent in the financial year 2021-22, supported by a normal monsoon and early onset of the flush season in some regions. Post the moderate impact of the pandemic, the industry witnessed a steady recovery in consumption.