| Product Code: ETC383844 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The peanut meal market in India is one of the fastest-growing markets and has grown at a CAGR of 11.11% during the forecast period. The total market size was estimated to be INR 4.50 billion, which is expected to reach INR 6.64 billion. The major drivers for this growth are rising demand from aquaculture and poultry industries due to its high nutritional content and increasing imports from countries like China, Vietnam, Myanmar, Thailand, etc., owing to their competitive pricing structure.
The India peanut meal market has been witnessing significant growth in recent years due to several drivers. Firstly, peanut meal is considered a rich source of protein and essential nutrients, making it a popular choice for animal feed. As the demand for high-quality and nutritious animal feed increases, the peanut meal market experiences a boost. Secondly, the growing awareness about the health benefits of peanut meal consumption in livestock and poultry has led to a rise in its adoption. Farmers and livestock breeders are increasingly recognizing the positive impact of incorporating peanut meal in their animals` diets, leading to a surge in demand.
Despite the growing demand for peanut meal as a protein-rich feed ingredient, the India peanut meal market faces several challenges. One of the significant obstacles is the fluctuation in peanut production due to weather patterns and pests, leading to unpredictable supply levels. Additionally, competition from alternative feed ingredients and the need for continuous innovation in processing methods pose challenges for the market`s growth.
The peanut meal market experienced fluctuations during the pandemic. As restaurants and foodservice establishments were closed or operating at limited capacity, the demand for peanut meal in the livestock feed sector declined. However, there was a surge in demand for peanut-based protein products in the consumer market, as people sought healthy alternatives for snacking at home.
Agrocrops Exim Limited, Cargill India Pvt. Ltd., Rb Food Industries, and ETG Agro Pvt. Ltd.
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