The India poultry feed market has witnessed remarkable growth in recent years, driven by the rising demand for high-quality poultry products and the increasing adoption of nutrient-rich poultry feed in the industry. According to a report by Expert Market Research titled “India Poultry Feed Market Size, Share, Analysis, Report, Forecast 2023-2028,” the market reached approximately USD 20,566.9 million in 2022. With a projected Compound Annual Growth Rate (CAGR) of 7.29% between 2023 and 2028, it is expected to soar to a value of USD 31,489.4 million by 2028.
The Role of Poultry Feed in India’s Poultry Industry
Poultry feed is a vital mixture of grains, oilseed meals, animal by-products, and fortified with essential vitamins, minerals, and nutrients. This feed is primarily used to nourish domesticated birds like chickens, ducks, and turkeys, enhancing their overall health, productivity, and the quality of their eggs and meat.
Driving Factors for the Growth of India’s Poultry Feed Market
- Increasing Demand for Quality Poultry Products:
A significant driver of the poultry feed market in India is the surging demand for high-quality poultry products. As consumers become more health-conscious, they have developed a preference for poultry products that are rich in nutrients and free from harmful additives. This preference has led to a shift towards quality-oriented poultry farming, elevating the demand for nutrient-rich poultry feed.
- Popularity of Protein Sources for animal feed.
The rising popularity of protein sources in animal diets has led to significant market growth. Poultry feed plays a crucial role in producing protein-rich poultry products, which are increasingly preferred by health-conscious consumers. To meet the surging demand, it is recommended to include diverse protein sources like soybean meal, fish meal, corn gluten meal, and meat bone meal in poultry feed formulations. These ingredients not only enhance feed quality but also contribute to healthier bird growth, ensuring the production of high-quality poultry products that align with the nutritional preferences of consumers.
- Expanding Applications in the Poultry Industry:
Poultry feed finds extensive applications in different segments of the poultry industry. It is used in layer farming to boost egg production, in broiler farming for meat production, and in breeder farming for rearing parent stock. These diverse applications have positively impacted the growth of India’s poultry feed market.
- Boost in Organized Retail Sector and Disposable Income:
The growth of the organized retail sector in India, along with an increase in disposable income, has heightened the focus on poultry feed as a critical factor in enhancing the quality of poultry products. As consumers have easier access to a variety of poultry products through organized retail channels, the demand for high-quality produce has risen.
- Growing Population and Non-Vegetarian Diets:
India’s growing population, along with a rising trend of non-vegetarian diets, has led to an increased consumption of poultry products. To meet this growing demand efficiently, poultry farmers have adopted poultry feed as an essential component of their operations.
The India poultry feed market has demonstrated remarkable growth, owing to the escalating demand for quality poultry products and the wider adoption of nutrient-rich feed in the industry. The rising awareness of the health benefits associated with protein consumption has further fueled the market’s expansion. Additionally, the poultry feed industry’s crucial role in meeting the demands of a growing population and non-vegetarian diets cannot be understated.
As the market continues to grow, it presents opportunities for manufacturers, retailers, and investors to capitalize on the ever-increasing demand for high-quality poultry products. The future outlook for India’s poultry feed market remains optimistic, with projections of steady growth in the coming years. As consumers continue to prioritize health and nutrition, the significance of poultry feed in the industry is set to remain strong, driving further advancements in the market.
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