India Feed Enzymes Market Trends

Statistics for the 2023 & 2024 India Feed Enzymes market trends, created by Mordor Intelligence™ Industry Reports. India Feed Enzymes trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of india feed enzymes 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 is currently one of the largest producers of eggs and broiler meat worldwide. In recent years, the industry has undergone significant transformations, driven primarily by the rise in poultry meat and egg consumption, which fueled a 7.1% increase in poultry production in 2022 from 2017. Furthermore, the country's per capita consumption of poultry meat reached 2.65 kg in 2022, a 13.7% increase from 2017, and the per capita availability of eggs raised to 91 eggs per annum in 2021, which is four more units than in the previous year.
  • The Indian poultry market is primarily concentrated in Andhra Pradesh, Tamil Nadu, and Telangana, accounting for a significant portion of the country's production. The Indian poultry industry has also established itself as a significant player in the global market, with 320,240.46 metric tons of poultry products exported in 2021-22, amounting to USD 71.04 million. Major importers of Indian poultry products include Oman, Maldives, Indonesia, Vietnam, Japan, and Russia.
  • However, the Indian poultry industry faces several challenges. The outbreak of avian influenza and other diseases in poultry 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. To overcome these challenges, the industry requires significant investments in infrastructure and technology and government support. Overall, the increasing demand for poultry meat in importing countries, coupled with rising domestic demand, has led to a significant increase in poultry production in India.
India Feed Enzymes Market

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

  • The Indian aquaculture industry has experienced significant growth due to the surge in demand for seafood, leading to a sudden increase in the growth 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, followed by shrimp feed at 6.6% in 2022. The demand for fish is rising both 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 7.96% to 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.​ 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 increasing 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.
India Feed Enzymes Market

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

India Feed Enzymes Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029