In 2023, the dairy industry has recovered from the COVID-19 pandemic, however, now new challenges are being seen due to international inflation due to the rapidly increasing oil and fuel prices. This is resulting in lower-income consumers to economise and trade down, while higher-income consumers continue to boost the demand for dairy products.
Before the onset of the COVID-19 pandemic, the dairy industry was experiencing a promising upward trend, with robust sales and strong demand. Nevertheless, in the wake of the pandemic, came under strain due to a combination of factors such as supply shortages, and the escalation of import prices.
While per capita consumption of dairy remains fairly low in Bangladesh, the use of dairy products in local cuisine is quite diverse. Among the most common uses of dairy products are drinking cows’ milk as a nutritious beverage or as a key ingredient in traditional sweets.
Fruit and vegetables, different types of lentils (dal), spices (various masala), potatoes, edible oils, milk and other dairy products, eggs, baked goods and bread. In urban areas most households purchase these products either fresh from open markets (other grocery retailers) or from grocery retailers, while in rural areas a large number of consumers either grow their own food or exchange produce.
Most consumers still use traditional grocery retailers, outdoor markets and street vendors for their food shopping, with many lacking access to modern grocery retailers. Even in the capital city of Dhaka most people still use traditional grocery retailers.
Over the forecast period, sales will continue to be impacted by price increases, however, there is hope for recovery in the coming year. As economic conditions stabilise, consumers might resume investing in nutritious and diverse food choices within dairy.
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Dairy Products and Alternatives
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