According to the latest report by IMARC Group, titled "Indian Poultry Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the Indian poultry market reached a value of INR 1,988 Billion in 2020. The poultry industry involves breeding, hatching, rearing, and processing domestic birds. It includes chickens, ducks, geese, and turkeys raised by humans that are domestically or commercially used for eggs, meats, and feathers. The poultry market has significantly gained prominence across India due to the increasing consumption of meat among individuals. Besides this, the introduction of online food delivery channels across the country that has improved the accessibility to food services, along with statistical advancements in the overall structure of the poultry industry, is also driving the market growth.
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 Poultry Market Trends:
The market in India is primarily driven by the increasing health consciousness among the masses. Coupled with the changing dietary patterns and the rising demand for protein-rich food products among individuals, this is positively influencing the market growth. Moreover, inflating disposable income levels of the masses, along with the increasing preferences for leading a healthy lifestyle, is providing a boost to the sales of poultry products. Additionally, numerous initiatives undertaken by the government to support poultry businesses, including encouraging poultry farming by introducing capital fund schemes, are providing an impetus to the market growth. Apart from this, the rising popularity of international cuisines due to the penetration of social media is considered to be a major growth-inducing factor. Furthermore, the proliferation of restaurants and fast-food joints across the country are also creating a positive outlook for the market. Other factors, including easy product availability via the online and offline organized retail channels and continuous improvements in the food and beverages sector, are further projected to drive the market growth across India. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 15.2% during the forecast period (2021-2026).
- The global poultry market has been bifurcated into broiler and eggs.
- Based on the end-use, the market has been segmented into broilers, food services, households, eggs, retail and institutional.
- On the basis of the distribution channel, the market has been categorized into traditional retail stores, business to business (B2B) and modern retail stores.
- On the geographical front, the market for broilers has been divided into Tamil Nadu, Maharashtra, Haryana, West Bengal, Uttar Pradesh and others.
- On the geographical front, the market for eggs has been segregated into Andhra Pradesh, Tamil Nadu, Telangana, West Bengal, Maharashtra and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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