The latest report by IMARC Group titled “Indian Animal Feed Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028” finds that the Indian animal feed market reached a value of INR 956.7 Billion in 2022. Animal feed refers to the semi-processed and raw products used to feed livestock and poultry. It is produced by combining products using high nutritional content such as hay, silage, straw, oils, sprouted grains, and legumes. In addition, these products are carefully formulated with nutritional additives, like vitamins and minerals, which help maintain the overall health of animals and improving the quality of various end-products, including meat, eggs, and milk.
Indian Animal Feed Market Trends:
The market is primarily driven by the growing cattle population in the country. This can be attributed to the developing dairy industry, which has been supported by the White Revolution 2.0. As a result, India has the largest cattle population in the world, which is escalating the demand for animal feed across the country. Besides this, the Government of India is planning to implement schemes and policies, such as Livestock Insurance Scheme, E-Pashu Haat, Rashtriya Gokul Mission and National Livestock Mission, aimed to improve the animal feed industry. Moreover, the emergence of non-traditional feed ingredients and various technological advancements, such as the development of genetically modified animal feed ingredients, represents another growth-inducing factor. Along with this, the increasing costs of these raw materials, their price and supply volatility are encouraging key players to shift toward more sustainable and low-cost ingredients, such as insect meal and Distiller’s dried grain with solubles (DDGS) for livestock production. On account of these factors, IMARC Group expects the market to grow at a CAGR of 8.2% during 2023-2028.
- On the basis of the product type, the market has been classified into poultry feed, cattle feed, and aquafeed. Amongst these, poultry feed is the most popular product type.
- On the geographical front, South India represents the leading market. Other major regions include North India, East India, and West India.
- The competitive landscape of the market has also been analyzed, along with some of the key players being 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., SKM Animal Feeds & Foods (India) Private Limited, Suguna Foods Private Limited, The Waterbase Ltd. (Karam Chand Thapar & Bros. (Coal Sales) Limited), Uno Feeds and Venkateshwara Hatcheries Pvt. Ltd.
|Base Year of the Analysis
||INR Billion, Million Tons
||Product Type, Region
|| North India, South India, East India, West India
||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., SKM Animal Feeds & Foods (India) Private Limited, Suguna Foods Private Limited, The Waterbase Ltd. (Karam Chand Thapar & Bros. (Coal Sales) Limited), Uno Feeds and Venkateshwara Hatcheries Pvt. Ltd.
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