India Poultry Feed Market Outlook
According to the report by Expert Market Research (EMR), the India poultry feed market size reached a value of nearly USD 20,566.9 billion in 2023. Aided by the increasing consumption of poultry and the rising demand for meat, the market is projected to grow at a CAGR of 7.29% between 2024 and 2032 to reach a value of around USD 31,489.4 billion by 2032.
Poultry feed encompasses a range of feed types, including layers, broilers, and breeders, which are integral to supporting the health and productivity of the poultry population. The growth of the market is primarily driven by the increasing consumption of poultry products in India, which is fuelled by a rising population, growing income levels, and shifting dietary preferences towards protein-rich diets.
The demand for high-quality poultry feed is surging, influenced by the expanding poultry industry which demands better yield and healthier livestock. This is further bolstered by the government’s supportive policies aimed at enhancing poultry production through subsidies and initiatives encouraging poultry farming. Additionally, the burgeoning middle class in India is increasingly opting for protein-rich foods, including eggs and chicken, which, in turn, is positively influencing the India poultry feed market growth positively.
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Technological advancements in feed production, such as the incorporation of enzymes, amino acids, and probiotics, have significantly improved the nutritional quality and digestibility of poultry feed. These innovations are pivotal in optimising feed utilisation and reducing waste, thereby enhancing the overall efficiency of poultry farming. This is expected to contribute towards the India poultry feed market development.
One of the key India poultry feed market trends is the increasing inclination towards organic and antibiotic-free feed products. This shift is driven by the growing consumer awareness about the health implications of antibiotics and the desire for organic products, which is pushing poultry feed manufacturers to adapt and innovate.
The India poultry feed market is also seeing a rise in the integration of vertical farming practices, where feed production is closely linked with poultry raising operations to ensure quality control and supply chain efficiency. This integration aids in reducing operational costs and improving the sustainability of poultry operations.
Environmental sustainability is becoming a central theme as concerns over climate change and resource depletion gain prominence globally. In response, feed producers are increasingly looking at ways to incorporate eco-friendly practices, such as using alternative protein sources like algae and insects, which are less resource-intensive compared to traditional feed components like soybean and fishmeal. Additionally, reducing the carbon footprint of feed production processes through renewable energy sources and more efficient logistics are areas of active development. This is expected to drive the India poultry feed market expansion.
Consumer preferences are increasingly shaping the market dynamics. There is a noticeable shift towards transparency and traceability in the food supply chain. Consumers want to know where their food comes from and the conditions under which it was produced, including animal feeds. This demand is pushing poultry feed manufacturers to adopt more transparent practices and ensure their products meet the high standards expected by today’s informed consumers. This is one of the key India poultry feed market trends.
Despite the robust growth prospects, the India poultry feed market faces several challenges. The volatility of feed prices, primarily due to fluctuations in the cost of raw materials like maize and soybean, poses a significant challenge. Additionally, the market is affected by the regulatory environment concerning feed quality and safety standards, which are becoming increasingly stringent.
However, these challenges also present opportunities for market players to innovate and differentiate their offerings. There is a growing opportunity in the development of specialised feeds tailored for different types of poultry and specific growth stages. Moreover, the expanding export markets for Indian poultry products offer a lucrative avenue for the market to capitalise on international demand.
The India poultry feed market exhibits substantial regional disparities, with states like Andhra Pradesh, Tamil Nadu, and Punjab leading in production due to their favourable climatic conditions and established farming practices. The southern region of India, in particular, represents a significant portion of the market due to its high consumption of poultry products and advanced agricultural practices.
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India Poultry Feed Market Segmentation
The market can be divided based on nature, poultry type, and region.
Market Breakup by Nature
- Conventional
- Organic
Market Breakup by Poultry Type
- Layers
- Broilers
- Turkeys and Others
Market Breakup by Region
- North
- South
- East and Central
- West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India poultry feed market. Some of the major players explored in the report by Expert Market Research are as follows:
- Godrej Agrovet Limited (GAVL)
- Suguna Foods Private Limited.
- Japfa Comfeed India Private Limited
- Henraajh Feeds India Pvt. Ltd.
- Maharashtra Feeds Pvt Ltd.
- Sneha Group
- Anmol Feeds Pvt. Ltd.
- IB Group
- Skylark Feeds Pvt. Ltd.
- Others
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