The Indian animal feed market is projected to witness a compound annual growth rate of 2.68% to grow to US$13,353.235 million by 2026, from US$11,098.868 million in 2019. The market is expected to surge in the country due to the rising food demand, increasing disposable income, and growth in the dairy sector. The growing demand for animal protein derived from the livestock and poultry sector has been fuelling the demand for animal feed products. According to the data given by the Department of Animal Husbandry and Dairy, the total livestock population was at 535.78 million in the country in the year 2019, showing a surge of 4.6% over the Livestock census in 2012. The total number of cattle in the country was 192.49 million in the year 2019. The population of poultry was at 851.81 million in 2019. The rising dairy industry is also expected to play a major role in the market growth, in the coming years. According to the National Dairy Development Board, India produced 187.7 million tonnes of milk in FY2019. Major companies and associations have been making significant developments in the market, in the past few years. For instance, in August 2021, The Poultry Breeders Association had sent a recommendation to the Ministry of Fisheries, Animal Husbandry, and Dairying, intending to allow them to import 15 lakh tonnes of soybean meal to meet the demand for the raw material in the country. Soybean meal is an imperative material for shrimp, fish, poultry, cattle, and dairy farmers in the country. According to the data given by the Indian government, the country has been importing around 5 lakh tonnes of oil meals and around 3 lakh tonnes of oilseeds from non-GM origins, in the past few years. These trends and developments are expected to play a major role in the market growth, in the coming years.
Increasing demand for animal-based food is expected to drive market growth.
The market is expected to surge in the coming years, due to the rise in the demand for animal-based food, such as meat, chicken, and others in the country. According to the data given by the Department of Animal Husbandry and Dairying, there were over 9.06 million pigs in the country, and around 851.81 million poultry in 2019, with a significant increase from the last census in 2012. The country had over 1.3 billion people, and even a tiny per capita per consumption has the potential to surge the demand for animal feed in the country. According to the data given by the Indian Council of Food and Agriculture, the country’s per capita consumption of poultry meat has been around 3.1 kg per annum. The country’s per capita consumption of meat has been around 5.6 kg, per anum. Moreover, according to the trends given by the Food and Agriculture Organization, the demand for poultry meat is expected to increase by 850% by the year 2040, from around 1.05 million tonnes to 9.92 million tonnes, per anum. The rise in meat and chicken consumption is expected to increase the demand for high-quality animal feed products. Major companies have been making significant developments in the market, in the past few years. For instance, Grand Master, an ISO Certified company, provides feed ingredients compound feed, feed formulations, and customized solutions to their customers. The company also offers cattle feed to cattle farms in the country. Other players have also been making significant developments in the market. For instance, Godrej Agrovet provides compound feed to their customers in the country.
India has been witnessing an increase in the consumption of meat and meat-based products which was having a significant positive impact on the animal feed market of the country. A study published in the Journal of Experimental Biology and Agricultural Sciences in March 2021 showed that the meat consumption pattern among Indian consumers was affected badly during the countrywide lockdown. Furthermore, the meatpacking facilities were shut down during the lockdown period in India which led to supply chain disruptions in the meat and meat-based products market in the country, and hence impacted the animal feed market negatively. Moreover, meat producers and processors faced difficulty in harvesting and shipment of the products due to lockdown situations, decrease in the labor force, restrictions in movement of animals within and across the country, and changes in the legislation of local and international export markets.
|Market size value in 2019||US$11,098.868 million|
|Market size value in 2026||US$13,353.235 million|
|Growth Rate||CAGR of 2.68% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Livestock, Form, Production Systems, Source, And Raw Materials|
|Companies covered||Alltech, Cargill, Incorporated, Purina Animal Nutrition (Land O’Lakes), Archer Daniels Midland, BASF SE, Godrej Agrovet, Golden Feeds, Avitech|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the Indian animal feed market size by 2026?
A1. The Indian animal feed market is projected to reach a market size of US$13,353.235 million by 2026.
Q2. What is the size of the Indian animal feed market?
A2. Indian Animal Feed Market was valued at US$11,098.868 million in the year 2019.
Q3. What are the growth prospects for the Indian animal feed market?
A3. The Indian animal feed market is projected to grow at a CAGR of 2.68% over the forecast period.
Q4. How is the Indian animal feed market segmented?
A4. The Indian animal feed market has been segmented by type, livestock, form, production systems, source, and raw material.
Q5. What factors are anticipated to drive the Indian animal feed market growth?
A5. The Indian animal feed market is expected to surge due to the rising food demand, increasing disposable income, and growth in the dairy sector.
Purina Animal Nutrition (Land O’Lakes)
Archer Daniels Midland
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