Indian animal feed market strikes all-time high business.
The
Indian animal feed market was worth INR 400.5 Billion in 2018. The market
is further projected to reach INR 898.5 Billion by 2024, growing at a CAGR of
14.3% during 2019-2024. India currently represents one of the fastest growing
animal feed markets in the world. The increasing demand for animal protein and
dairy products has resulted in a growing livestock population in India, which
in turn has increased the demand for animal feed. Currently the poultry, aqua, and dairy industry account for the major share of the Indian animal feed
industry. Modern animal feed products are manufactured by carefully selecting
and blending ingredients to impart highly nutritional diets that both increases
the quality of its end products such as meat, milk, eggs and at the same time
maintain the health of the animal.
Indian
Animal Feed Market: Drivers
The population in India
is expected to increase continuously in the medium and long terms. This will
create a strong demand for eggs, meat, milk, etc., in turn increasing the demand
for animal feed.
The Indian government
along with private initiatives are increasing the awareness of better feed
practices among farmers. Farmers are getting more aware about animal health and
the importance of balanced and nutritional food for their animals.
Apart from domestic
consumption, Indian exports of animal feed are rising and will also represent
an important growth driver during the next five years.
Changing lifestyles and
rising per capita incomes in India have resulted in a shift in the dietary
habits in the country. This has resulted in an increase in the consumption of
milk and meat, leading to a growing demand for animal feed.
Market
Segmentation:
Breakup by Product Type:
Poultry Feed
Cattle Feed
Aqua Feed
Based on the product
type, the market has been segmented as poultry feed, cattle feed, and aqua feed.
Currently, poultry feed accounts for the largest market share. Followed by
cattle feed and aqua feed.
Breakup
by Region
North India
South India
East India
West India
On the basis of region,
the market has been segmented as North India, South India, East India, and West
India.
Competitive
Landscape:
The competitive landscape
of the market has also been examined in the report and the profiles of key
players have also been provided.
This report provides a
deep insight into the India animal feed market covering all it's essential
aspects. This ranges from a macro overview of the market to micro details of the
industry performance, recent trends, key market drivers and challenges, SWOT
analysis, Porter’s five forces analysis, value chain analysis, etc. This report
is a must-read for entrepreneurs, investors, researchers, consultants, business
strategists, and all those who have any kind of stake or are planning to foray
into the Indian animal feed market in any manner.
Contact
Details:
Aarkstore
Enterprise
Phone:
+91 998 729 5242 | contact@aarkstore.com
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