Product Code: ETC384204 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India poultry market import shipments exhibited a steady growth trend from 2020 to 2024, with a CAGR of 6.7% over the period. Notably, there was a significant acceleration in growth between 2023 and 2024, with a growth rate of 16.0%. The market expanded with increasing momentum over the years.
The size of the poultry industry in India is estimated to be around INR 180,000 crores (USD 24.6 billion). It accounts for 10% of India total livestock production and 1.2% of the country?s GDP. The sector provides direct employment to over 1 million people in addition to providing indirect employment opportunities for many more. India domestic poultry consumption was 8 million tonnes, registering a growth rate of 6%.
In the India poultry market, the drivers include the increasing population, urbanization, and rising disposable incomes. Poultry products, being a cost-effective source of protein, are widely consumed across the country. As the population continues to grow, so does the demand for poultry products, supporting the growth of the market.
The poultry industry in India faces various challenges that impact its growth potential. Disease outbreaks, such as avian influenza, can lead to significant losses in poultry production. Moreover, ensuring biosecurity measures and proper vaccination protocols are crucial to maintain the health of poultry flocks. Additionally, volatile feed prices and increasing production costs add to the complexities faced by poultry farmers and businesses.
The poultry market in India faced challenges as the outbreak of avian influenza in certain regions led to reduced consumption and international trade restrictions. However, with proper safety measures, the industry managed to recover gradually.
Suguna Foods Pvt. Ltd., Venky`s India Ltd., Godrej Agrovet Ltd., Skylark Group, and Amrit Group.