Heritage Foods Limited

STATUTORY REPORTS MDA 29 th Annual Report 2020-21 | 105 Value-added Products - Curd Curd represents an essential part of a balanced diet and can also be consumed by lactose intolerant people. Owing to the high content of calcium, vitamin D, proteins and phosphorus present in it, curd helps strengthen bones and improve digestion. Besides this, it also reduces the chance of breast cancer. As per the IMARC Group report the market exhibited double-digit growth in Curd during 2015-2020. The healthy growth of the market can be attributed to numerous forces. Population growth, rising disposable incomes, increasing health consciousness among consumers and a ff ordable price are some of the factors that are currently broadening the growth aspects of the market. The curd market in India is expected to grow at a CAGR of 15.3% during the forecast period (2021-2026). - Paneer The paneer market in India exhibited strong growth during 2015-2020. Paneer is a non-fermentative and non-melting type of cheese, obtained by acid and heat coagulation of milk. It is consider one of the most extensively consumed dairy products in India. Paneer is used in various combinations with other vegetables and dishes, and form an important ingredient of the Indian traditional cuisine. As a considerable part of population consists of vegetarians, paneer emerged as a viable option. Apart from this, factors such as increasing population, urbanisation improved cold supply chain and growing deep freezer penetration are also in fl uencing the market growth. It is expected that the paneer market in India is expected to grow at a CAGR of 15% during 2021- 2026. - Cheese The cheesemarket in India exhibited strong growth during 2015-2020. India is currently the world’s largest producer of milk owing to which the cheese market holds signi fi cant growth potential. With the rising in fl uence of western cuisines and in fl ating disposable incomes, consumers are now shifting from paneer towards cheese, thereby increasing its demand in the country. In addition to this, manufacturers are introducing a number of fl avored cheese products including pepper, garlic, red chili fl akes, and oregano pickle, which cater to the di ff erent tastes and preferences of consumers in India. The cheese market in India is expected to grow at a CAGR of 24.80% during 2021-2026. - Buttermilk Buttermilk represents an integral part of a balanced diet andhasbeentraditionallyconsumedasarefreshmentdrink for centuries in India. It o ff ers relief from the scorching heat of the sun, it has gained immense popularity in India as a result of the country’s extremely hot summers. The demand for buttermilk is also increasing as it is good for digestion and boosts immunity. The buttermilk market in India is expected to grow at a CAGR of 22.4% during the forecast period (2021-2026). - Flavoured Milk Flavoured milk represents one of the most popular dairy- based beverages in India. The market is expected to grow at a CAGR of 24.3% during 2021-2026. - Milkshake One of the key consumer segments that is driving this market is the young andwell-to-do income class.The Indian milkshake market exhibited strong growth during 2015- 2020. The Imarket is expected to grow at a CAGR of 25.3% during 2021-2026. The market is currently being driven by numerous factors such as a large young population, changing lifestyles, convenience, value addition, health consciousness, etc. - Immunity Milk Immunity Milk contains anti-in fl ammatory properties which help in maintaining a healthy life. Now available in 4 fl avours: Turmeric, Ginger, Tulsi and Ashwagandha. - Sweets Doodh Peda & Milk Cake are made out of highest quality Milk & Ghee which is soft, rich in taste and melts in mouth. With the right amount of sucrose addition, it is rich in taste and granular with better chewiness. - Lassi The Indian lassi market exhibited strong growth during 2015-2020. Lassi, also known as desi buttermilk, is obtained by the churning of curd. It is a bit sour in taste and has a rich dense texture. It is consumed mostly in the northern part of the country, especially during the summer season. Lassi not only o ff ers refreshment during the summer time, but also boosts the energy levels. Apart from this, it also helps in fi ghting other summer-related problems such as prickly heat, gastro-intestinal problems and the build-up of bacteria. These factors have highly added to the market growth. It is expects that the Indian lassi market to grow at a CAGR of 21% during 2021-2026.