India Animal Feed Market Growth Forecast (2024-2032): CAGR of 9.0%
The India Animal Feed Market, valued at USD 1.0 billion in 2023, is set to experience robust growth, reaching an estimated USD 2.2 billion by 2032, with a compound annual growth rate (CAGR) of 9.0% during the forecast period (2024-2032). This growth is driven by factors such as population expansion, rising disposable incomes, urbanization, and shifting dietary preferences toward animal protein. The increasing demand for dairy, meat, fish, and eggs is fueling the need for high-quality animal feed, which plays a critical role in ensuring the health, productivity, and overall well-being of livestock, poultry, and aquaculture species.
For more information or to request a free sample of the report, visit : https://straitsresearch.com/report/india-animal-feed-market/request-sample
Market Scope and Research Methodology
The India animal feed market report provides a comprehensive analysis of the industry, covering historical data from 2020 to 2022 and forecasts from 2024 to 2032. The study examines market dynamics, including drivers, restraints, opportunities, and challenges, to offer a holistic view of the industry. The research methodology includes primary and secondary data collection, expert interviews, and market analysis tools to ensure accuracy and reliability. The report segments the market by animal type (ruminants, poultry, swine, and aquaculture) and ingredients (cereals, cakes and meals, byproducts, and supplements), providing detailed insights into each segment.
Market Dynamics
India’s growing population, urbanization, and increasing disposable incomes are driving a shift in dietary preferences toward animal protein. The country’s population, expected to reach 1.4 billion by mid-2023, is creating a substantial demand for meat, eggs, and dairy products. According to the Times of India, per capita meat availability in India rose to 7.1 kilograms in 2022-23, up from 5.7 kilograms in 2016-17. The poultry sector, in particular, has seen significant growth, with consumption exceeding 4 million metric tons in 2023. Additionally, India’s egg production reached 138.38 billion in 2022-23, while meat production stood at 9.77 million metric tons, with poultry accounting for 51.13% of the total.
The National Dairy Development Board (NDDB) projects that India’s fluid milk production will reach 212.7 million metric tons (MMT) in 2024, a 3% increase from 2023. This surge in demand for animal protein is driving the need for high-quality animal feed, creating opportunities for feed manufacturers to innovate and expand their operations.
Segmentation
The India animal feed market is segmented by animal type and ingredients. By animal type, the market is divided into ruminants, poultry, swine, and aquaculture. Poultry feed dominates the market, driven by rising meat consumption and advancements in poultry farming. Aquaculture is the fastest-growing segment, supported by government initiatives and increasing investments in fish farming.
By ingredients, the market is categorized into cereals, cakes and meals, byproducts, and supplements. Cereals, particularly maize and wheat, account for the largest share due to their high energy content and widespread use in feed formulations. Byproducts such as rice bran and molasses are gaining popularity as sustainable and cost-effective feed ingredients.
Regional Insights
South India: The Largest Market
South India holds the largest share of the Indian animal feed market, driven by high milk production and poultry farming. States like Andhra Pradesh, Karnataka, and Tamil Nadu are key contributors, with Telangana attracting significant investments in feed manufacturing. In 2023, South India’s poultry consumption reached 2.96 million metric tons, reflecting steady growth.
West India: The Fastest-Growing Region
West India, comprising states like Gujarat, Maharashtra, and Rajasthan, is expected to grow at a CAGR of 9.1% during the forecast period. The region’s dominance in cattle feed production, coupled with initiatives like Amul Dairy’s entry into poultry feed manufacturing, is driving market growth. Maharashtra’s allocation of Rs. 500 lakh for cattle feed subsidies further supports the region’s development.
Get your Sample Report to Boost Your Industry Knowledge for Valuable Insights : https://straitsresearch.com/report/india-animal-feed-market/request-sample
Key Players
- Anmol Feeds Pvt. Ltd.
- Avanti Feeds Ltd.
- C P Aquaculture India Pvt. Ltd.
- Cargill Incorporated
- Godrej Agrovet Limited (Godrej Industries Limited)
- Grobest Feeds Corporation India Ltd.
- Growel Feeds Pvt. Ltd.
- Japfa Comfeeds India Pvt. Ltd. (Japfa Ltd.)
- Kapila Krishi Udyog Ltd.
- KSE Ltd.
FAQs
1. What is driving the growth of the India animal feed market?
The market is driven by population growth, rising disposable incomes, urbanization, and increasing demand for animal protein such as meat, eggs, and dairy products.
2. What are the challenges faced by the animal feed industry in India?
The industry faces challenges related to the availability and cost of key feed ingredients like maize and soybean meal, as well as price fluctuations and supply chain disruptions.
3. Which region dominates the India animal feed market?
South India is the largest market, accounting for a significant share due to high milk production and poultry farming.
4. What opportunities does the aquaculture sector offer?
The expansion of aquaculture presents opportunities for feed manufacturers to develop specialized aquafeed formulations that enhance growth and productivity in farmed fish and shrimp.
5. Who are the key players in the India animal feed market?
Key players include Anmol Feeds, Avanti Feeds, Cargill, Godrej Agrovet, and Venkateshwara Hatcheries.
About Straits Research
Straits Research is a leading market research and consulting firm, providing actionable insights and data-driven solutions to businesses worldwide. Our expertise spans multiple industries, helping clients make informed decisions and achieve sustainable growth.
More Related Reports :
https://sites.google.com/view/specialty-chemicals-research/home/organic-chemicals-market
