Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) — The “India Animal Feed Market Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
This comprehensive research on the Indian animal feed market highlights a promising growth trajectory, with the sector expected to achieve a compound annual growth rate of 4.52%, culminating in a market value of US$15.39 billion by 2028. This growth is an increase from the market’s US$11.29 billion valuation in 2021. Significant factors contributing to this rise include an expanding poultry population, greater consumption of milk and meat, and evolving consumer demographics.
Key Market Growth Drivers
The research identifies the burgeoning poultry population in India as a substantial growth propellant. With an impressive leap in poultry production over the last four decades, the industry continues to surge ahead, with the poultry count reaching an all-time high of over 851 million heads in 2019. This upswing harmonizes with the uptrend in cattle populations, drawing direct correlations with the expanding animal feed market.
Booming Dairy Sector and Animal Product Consumption
The demand for animal feed is further strengthened by the increasing consumption of milk and a palpable rise in beef consumption within certain regions of the country. With per capita milk consumption surpassing global averages, the dairy sector’s reliance on quality feed is paramount, fueling market expansion.
The surging interest in poultry meat is warranting a closer look at the corresponding requirement for premium animal feed. The market’s buoyancy is also echoed in government initiatives that underscore the importance of superior feed for animal health and food security.
Government’s Role and Corporate Investment
Remarkably, the Indian government’s proactive stance on using quality feeds is noteworthy. Initiatives and investments aimed at fortifying the sector are underway, with notable collaborations between entities like ABIS Exports India Private Limited, the Asian Development Bank, and others that underline the significance of financial and educational support for farmers.
Profitable Segments in the Animal Feed Market
Another area garnering attention is the burgeoning cattle feed market, propelled by the dairy industry’s inclination toward high-yielding cattle and government subsidies. Insights into market segmentation shed light on the diverse aspects of the animal feed market, which encompasses fodder and forage, compound feed, along with feeds for swine, aquatic animals, cattle, and poultry.
The market is dissected based on form, production systems, sources, and raw material types, with each segment forming a crucial piece of the comprehensive market analysis. This segmentation underscores the depth and breadth of the Indian animal feed market, providing stakeholders with a granular view of opportunities and trajectories.
- By Type
- Fodder & Forage
- Compound Feed
- By Livestock
- Swine
- Aquatic Animals
- Cattle
- Poultry
- Others
- By Form
- By Production System
- Integrated
- Commercial Mills
- By Source
- By Raw Material
- Corn
- Soy
- Rendered Meal
- Others
Key Attributes
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2021-2028 |
| Estimated Market Value (USD) in 2021 | $11.29 Billion |
| Forecasted Market Value (USD) by 2028 | $15.39 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | India |
Companies Mentioned
- Alltech
- Cargill, Incorporated.
- Purina Animal Nutrition (Land O’Lakes)
- Archer Daniels Midland
- BASF SE
- Godrej Agrovet
- Golden Feeds
- Avitech
For more information about this report visit https://www.researchandmarkets.com/r/uqwwn4
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- Indian Animal Feed Market
