₹50,000 crore, and exports (globally) would be just ₹1,500 crore. That is puny compared to the overall ghee market in India, which was estimated to be ₹3.2 trillion in size in 2023, according to data from market research firm IMARC, a large part of which is in the unorganized space. The market is expected to grow to ₹6.9 trillion by 2032, at a compounded annual growth rate (CAGR) of 8.72% from 2024.
“Indian dairy brands already meet Codex standards (international food standards) when exporting to markets like the US and Australia. All large, famous Indian ghee brands are able to meet the world standards whether it’s the US or Middle-East or Australia or New Zealand. While the UK and Europe have restrictions due to the SPS rules, Indian ghee quality is pretty good.
Overall, demand for ghee remains big among both among the large Indian population overseas as well as consumers who wish to try Indian products," said Sodhi. Analysts, however, say that an SPS waiver may be difficult, but noted that apart from its use as food, ghee is also used for religious purposes. “Indian ghee has multiple purposes—both food and non-food," said Arpita Mukherjee, professor at the Indian Council for Research on International Economic Relations.
“It is used as part of various religious practices by Hindus. There is a ban on export of milk products to the UK due to traceability issues, which may be discussed. For UK exports, there are no such issues, but tariffs are high.Read more on livemint.com