Market Trends of india feed additives Industry
Rising demand for poultry meat and egg consumption is increasing the poultry production but diseases such as Avian Influenza had negative impact on poultry population
- The Indian poultry industry has made significant progress, evolving from a small-scale backyard activity to a major industry and becoming one of the world's leading producers of eggs and broiler meat. The rise in poultry meat and egg consumption has driven a 7.1% increase in poultry production between 2017 and 2022. Furthermore, per capita consumption of poultry meat increased by 13.7% to 2.65 kg in 2022, and per capita availability of eggs increased to 91 eggs per year in 2021, four more units than the previous year.
- The Indian poultry market is concentrated in Andhra Pradesh, Tamil Nadu, and Telangana, which account for a significant portion of the country's production. India has also established itself as a significant player in the global market, exporting 320,240.46 metric tons of poultry products worth USD 71.04 million in 2021-22. Major importers of Indian poultry products include Oman, Maldives, Indonesia, Vietnam, Bhutan, Japan, and Russia.
- However, the Indian poultry industry faces several challenges. The outbreak of Avian influenza and other diseases has led to the culling of birds, resulting in significant financial losses for the industry. Additionally, the industry is plagued by issues such as high feed costs, inadequate processing and storage facilities, and limited access to credit, among others. To overcome these challenges, the industry requires significant investments in infrastructure and technology, as well as government support.
- Overall, the increasing demand for poultry meat in importing countries, coupled with rising domestic demand, led to a significant increase in poultry production in India. Furthermore, a shift in food habits, urbanization, and increasing awareness of balanced nutrition are expected to drive growth in the coming years.
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India being third largest fish producing country and the surge in demand for seafood as well as the government's initiatives is increasing the aqua feed demand and production
- In recent years, India's aquaculture industry has experienced significant growth due to the surge in demand for seafood, leading to a sudden increase in the development of the aqua feed market. In 2022, the country's aquaculture feed production reached 2.2 million metric tons, a 48.6% increase from 2017-2022, primarily driven by the increasing aquaculture in India. Fish feed dominates the aqua feed market in India, accounting for 87% of the total aqua feed production in the country, followed by shrimp feed at 6.6% in 2022. The demand for fish is rising domestically and internationally, making it essential for the aqua feed market to maintain the demand for high-quality fish in the country.
- India is the world's third-largest fish-producing country, contributing to 7.96% of global production. In 2020-21, the country produced 14.7 million metric tons of fish. Andhra Pradesh is the largest fish-feed-consuming state in India, followed by West Bengal, owing to its high fish production in the country. Shrimp feed production grew by 75.6% from 2018, mainly due to the surging global demand for shrimp, leading to aqua feed manufacturers producing large quantities of shrimp feed to cater to the growing demand.
- The increasing demand for seafood, coupled with the government's initiatives and growing investments in the aquaculture sector, such as offering subsidies and incentives for the construction of new ponds, purchasing feeds, and setting up processing units, is expected to fuel the growth of the aqua feed market in India in the coming years. The expansion of the aqua feed market is expected to support the growth of the Indian economy, create employment opportunities, and contribute to food security.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Lumpy Skin Disease (LSD) had a major impact on growth of ruminants population but the rising demand for dairy products is increasing the demand for ruminants adoption
- Increasing production of broiler and layer feed was due to government initiatives and expansion of poultry farms with southern states having a majority share of poultry feed
- Pig production is increasing as there is an change in lifestyle and Northeast India and states such as West Bengal and Bihar have a higher demand for swine feed due to large population in these states
- Increasing per capita consumption of pork and increasing processed pork consumption is increasing the swine population
- Lumpy Skin Disease (LSD) had a negative impact on ruminants population but government financial package has a positive impact on population and will increase the demand for ruminants feed
