India Animal Feed Market to achieve a compound annual growth rate (CAGR) of 4.52%
Source: The DairyNews
The India Animal Feed market is experiencing robust growth, projected to achieve a compound annual growth rate (CAGR) of 4.52% and reach a market value of US$15.39 billion by 2028, up from US$11.29 billion in 2021.
This surge is attributed to key factors such as the expanding poultry population, increased milk and meat consumption, and evolving consumer demographics.
Poultry Population Surge:
The remarkable growth in the poultry population is identified as a significant driver for the animal feed market. Over the past four decades, India has witnessed substantial growth in poultry production, reaching an all-time high of over 851 million heads in 2019. This surge aligns with the increasing cattle population, indicating a direct correlation with the expanding animal feed market.
Booming Dairy Sector and Rising Animal Product Consumption:
The demand for animal feed is further fueled by the flourishing dairy sector and the growing consumption of animal products. India's per capita milk consumption surpassing global averages underscores the crucial role of quality feed in sustaining the dairy industry's growth.
Government Initiatives and Corporate Investments:
The Indian government's proactive stance on promoting the use of quality feeds is playing a pivotal role in the market's expansion. Collaborations between entities like ABIS Exports India Private Limited, the Asian Development Bank, and others highlight the emphasis on financial and educational support for farmers. Government initiatives aimed at fortifying the sector contribute to the positive trajectory of the animal feed market.
Profitable Segments in the Animal Feed Market:
The cattle feed market is emerging as a profitable segment, driven by the dairy industry's preference for high-yielding cattle and government subsidies. Market segmentation reveals a diverse landscape, including fodder and forage, compound feed, and specialized feeds for swine, aquatic animals, cattle, and poultry.
Poultry Population Surge:
The remarkable growth in the poultry population is identified as a significant driver for the animal feed market. Over the past four decades, India has witnessed substantial growth in poultry production, reaching an all-time high of over 851 million heads in 2019. This surge aligns with the increasing cattle population, indicating a direct correlation with the expanding animal feed market.
Booming Dairy Sector and Rising Animal Product Consumption:
The demand for animal feed is further fueled by the flourishing dairy sector and the growing consumption of animal products. India's per capita milk consumption surpassing global averages underscores the crucial role of quality feed in sustaining the dairy industry's growth.
Government Initiatives and Corporate Investments:
The Indian government's proactive stance on promoting the use of quality feeds is playing a pivotal role in the market's expansion. Collaborations between entities like ABIS Exports India Private Limited, the Asian Development Bank, and others highlight the emphasis on financial and educational support for farmers. Government initiatives aimed at fortifying the sector contribute to the positive trajectory of the animal feed market.
Profitable Segments in the Animal Feed Market:
The cattle feed market is emerging as a profitable segment, driven by the dairy industry's preference for high-yielding cattle and government subsidies. Market segmentation reveals a diverse landscape, including fodder and forage, compound feed, and specialized feeds for swine, aquatic animals, cattle, and poultry.
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