Global Ghee Market Report and Forecast 2024-2032

Global Ghee Market Outlook

The global ghee market size was almost 6.92 million tons in the year 2023. The industry is further expected to grow at a CAGR of 4.2% over the forecast period of 2024-2032 to attain a volume of over 10.01 million tons by 2032.

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The global ghee market is being driven by the thriving food and beverage industry and the growing awareness regarding the benefits of ghee consumption on human health. The growing demand for ghee-based products, particularly in emerging regions, due to their high nutritional value, is supporting the market.

Among different sources, ghee obtained from the cow's milk dominates the market owing to the popularity and significant role of cow's ghee in various Ayurvedic medicines. Currently, the retail segment is the leading end-use sector. As supermarkets/hypermarkets allow consumers to choose from a wide variety of products, ranging from the most affordable to premium brands, the segment occupies the largest market share among other distribution channels. The emerging regions, such as the Asia Pacific, provide enhanced growth opportunities for the industry growth. Within the Asia Pacific, the increased popularity and its growing demand from regions like India are aiding the global ghee market further.

Market Segmentation

Ghee is a clarified butter that is utilised particularly for cooking, especially in the South Asian and Middle Eastern delicacies. It is extracted by churning milk or buttermilk. It is rich in proteins, vitamins, potassium, phosphorus, calcium, selenium, antioxidants, fatty acids, and butyric acids.

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The report has analysed the global ghee market on the basis of segmentations like source, end use, and distribution channel.

Based on source, the global ghee market has been divided into:

• Cow
• Buffalo
• Mixed

On the basis of end use, the market is divided into:

• Retail
• Institutional

Based on distribution channel, the market has been categorised into:

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The growing awareness regarding the benefits of ghee consumption is driving the global ghee market. The product is related to several health benefits as it contains vitamins A, E, and K. It promotes weight loss, strengthens immunity and bones, improves digestion and eyesight, cures cough and thyroid dysfunction, and relieves constipation. These health benefits act as some of the major factors influencing the growth of the ghee market globally. Another major factor driving the market growth is the flourishing food industry, where ghee is extensively used in the production of various food items like bakery, ice-cream, and others.

Ghee is considered as a vital medicine for healing wounds, improving digestion, reducing free radicals, and boosting the immune system in Ayurveda, which is propelling the industry growth. Manufacturers in the industry are continuously enhancing their production process, aiming to extend the shelf life of the product and fortify it with necessary nutrients, which is expected to aid the industry in the future. Other factors such as rising disposable incomes, growing demand for packaged food products, and a strong demand from the developing regions are also boosting the market growth.

Favourable initiatives taken by the governments of the emerging nations are expected to contribute to the global ghee market significantly. In India, the launch of several food fortification programmes, such as the mandatory fortification of Vanaspati Ghee with vitamins A and D to encourage healthy eating habits among consumers, is driving the growth of the industry. Such trends are expected to contribute significantly to the growth of the global ghee market over the forecast period.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global ghee market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Gujarat Cooperative Milk Marketing Federation Ltd. (Amul)
• Britannia Industries
• Milkfood Limited
• Nestlé S.A.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report