The import of grated or powdered cheese to India is forecasted to increase modestly from 61.51 thousand kilograms in 2024 to 63.04 thousand kilograms in 2028. The year-on-year growth rate from 2024 onward shows a consistent, albeit slow, rise in volume with variations hovering slightly above half a percent annually. In 2023, the actual import volume was lower, setting the stage for a positive growth trend in subsequent years. The compound annual growth rate (CAGR) over the next five years suggests a stable yet gradual increase.
Future trends to watch for:
- Potential changes in India's dietary trends that might drive higher consumption.
- Policy shifts affecting import duties and tariffs on dairy products.
- Market dynamics in global cheese production and supply chain disruptions.
- Competitive local cheese production efforts potentially impacting import volumes.