The latest report by IMARC Group titled “Indian Animal Feed Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027” finds that the Indian animal feed market reached a value of INR 873.7 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 9.6% during 2022-2027.
- 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 Suguna Foods Private Limited, Japfa Comfeeds India Pvt. Ltd., Venkateshwara Hatcheries Pvt. Ltd., Anmol Feeds Pvt. Ltd., Godrej Agrovet Limited (GAVL), SKM Animal Feeds and Foods (India) Ltd., Cargill, Incorporated., Kapila Krishi Udyog Ltd., Amrit Group, KSE Ltd., Avanti Feeds Ltd., Uno Feeds, Growel Feeds Pvt. Ltd., C P Aquaculture India Pvt. Ltd., Mulpuri Foods and Feeds Pvt. Ltd., The Waterbase Ltd. and Grobest Feeds Corporation India Ltd.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal