Indian Dairy Market Overview

India Contributes > 20% of Global Milk Production Countries Top Milk Producing Countries (Million MT) 2017 2018E 2019E 2020E 2027E CAGR India 169 174 181 188 244 3.7% EU-28 164 167 167 169 177 0.8% USA 98 98 99 100 105 0.7% Pakistan 54 56 58 59 70 2.8% China 40 40 43 44 45 50 2.3% Russia 31 31 31 31 31 0.0% Brazil New Zealand World 29 29 30 30 31 36 2.1% Global Animal Wise Milk Production - 2017 - 11.5% 3.5% ■ Cow ■ Buffalo PARAG Ideas for a new day ■Goat & Others 85.0% India Animal Wise Milk Production - 2017 - 21 21 22 22 23 25 1.5% 55.0% 823 844 859 875 994 1.9% Source: IMARC Report, Ministry of Animal Husbandry, Dairy & Fisheries and FAO 45.0% ■ Cow ■ Buffalo 34

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