The new report by Expert Market Research titled, ‘Indian Animal Feed Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian animal feed market, assessing the market based on its segments like products and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Indian Animal Feed Market Size, Share, Price, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 13.8 Billion
- Forecast CAGR (2023-2028): 3.9%
- Forecast Market Size (2028): USD 17.4 Billion
|Market Size in 2022||USD 13.8 billion|
|Revenue Forecast in 2028||USD 17.4 billion|
|Growth Rate CAGR||3.9%|
|Major Players||Godrej Agrovet Limited, Cargill, Incorporated, KSE Limited, Avanti Feeds Limited,
Uttara Foods & Feeds Pvt. Ltd., Avitech Nutrition Pvt. Ltd.
The rising demand for animal feed owing to the increasing cases of chronic diseases and malnutrition among animals due to factors such as climate change is driving the market growth. The growing efforts by poultry and cattle farmers to boost the productivity of animals owing to the increasing demand for dairy and meat products from the growing population is further aiding the market growth.
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Over the forecast period, the advancement strategies adopted by the major cattle farmers to optimise the value chain are likely to spearhead the market growth in the forecast period. Geographically, East India accounts for a significant share in the market owing to the growing expansion of the aquaculture in the area.
Indian Animal Feed Industry Definition and Major Segments
Animal feed is defined as food which is provided to animals in order to boost their energy, fill their nutritional needs, and keep them free from chronic diseases. Pasture grasses, hay, and cereal grains are some of the typical examples of animal feed. Animal feeding is crucial for animal health and welfare and have a high demand in poultry and aquaculture.
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On the basis of product, the market can be segmented into:
- Poultry Feed
- Cattle Feed
- Aqua Feed
The regional markets for animal feed include:
- North India
- South India
- East India
- West India
Indian Animal Feed Market Trends
The key trends in the animal feed market include the increasing focus of animal welfare regulatory authorities on animal health. In addition to this, the increasing investments, and growing R&D activities by the major animal feed producers aimed towards increasing the utilisation of corn and wheat-based animal feed products are anticipated to accelerate the market growth.
For instance, feed mills in countries like Indonesia are utilising corn as a primary source of energy in feed. The thriving e-commerce industry is likely to be another key trend in the market, which is bolstering the demand for dairy and poultry products.
Key Market Players
The major players in the market are Godrej Agrovet Limited, Cargill, Incorporated, KSE Limited, Avanti Feeds Limited, Uttara Foods & Feeds Pvt. Ltd., and Avitech Nutrition Pvt. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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