India Compound Feed Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 27.23 Billion |
| Market Size (2029) | USD 36.60 Billion |
| CAGR (2024 - 2029) | 6.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Compound Feed Market Analysis
The India Compound Feed Market size is estimated at USD 27.23 billion in 2024, and is expected to reach USD 36.60 billion by 2029, growing at a CAGR of 6.10% during the forecast period (2024-2029).
- The increased purchasing power of the populace, as well as favorable demographics in the country, from rural to urban areas, are also contributing largely to the compound feed market in the country. People are eating more animal products, such as dairy products, meat, fish, and eggs, as their disposable budgets rise in cities, necessitating more high-quality feed. This is a significant component that is fueling expansion in the compound feed industry.
- In 2021, the Department of Animal Husbandry and Dairy, Government of India, employed production agendas to guarantee food security and economic development, along with improving animal health. Improving the livestock sector's entrepreneurial development envisages supporting animal husbandry infrastructure and implementing the One Health framework. The aim of improving animal health is anticipated to support the growth of the compound feed market in the country.
- The poultry segment dominates the market due to growing meat consumption, which leads to a higher demand for poultry feed. Cargill Inc., Archer Daniels Midland, Charoen Pokphand, Godrej Agrovet Limited, Nutreco NV, Trouw Nutrition, and Alltech Inc. are some of the leading players in the market.
India Compound Feed Market Trends
This section covers the major market trends shaping the India Compound Feed Market according to our research experts:
Rising Consumption of Meat and Dairy Products
In terms of absolute numbers, India has the world's largest live cattle herd, followed by Brazil and China. The national cow herd consists of bovine dairy cattle and Asian domestic water buffalo, both of which contribute significantly to the compound feed market's growth.According to the United States Department of Agriculture, from 2017 to 2022, the cattle population in India has risen from 301.4 million to 306.7 million. The increase is owed to government initiatives that have complemented the cattle industry as well as the compound feed industry's developments.
Since India is most highly dominated by Hindu culture, where bovine animals are sacred, the cattle are reared for their milk. Increased milk consumption in India is enabled by high production quantities. India's per capita milk consumption in 2020 will stand at 406 g/day, already surpassing the global average of 305 g/day. Hence, increasing demand for milk is anticipated to benefit the market for compound feed during the forecast period. Apart from rearing cattle for milk, some parts of India, such as Assam, Kerala, and certain parts of south India, have seen beef consumption gradually increase.
According to a report by the Department of Animal Husbandry and Dairying India, poultry production in India has taken a big leap in the previous four decades, transitioning from traditional agricultural techniques to a commercial production system using cutting-edge technology. According to the 20th Livestock Census, the country's total poultry population is 851.81 million, and egg output is approximately 122.05 billion in 2020-21. During 2020-21, per capita availability will be about 90 eggs per year, and the increasing awareness of the nutritive value of meat and meat products has also been benefiting the poultry market, which is likely to increase demand for compound feed in the poultry sector.
Poultry Feed Segment Dominates the Market
The prices of poultry feed in India tend to stay the same throughout the year. This is because there are more raw materials available and there is more demand on the domestic market. This has led to more organized players entering the poultry feed sector and a higher level of integration.
The affordable availability of chicken meat and the higher availability of eggs in the Indian market are accelerating the growth of the poultry compound feed sector. Despite being the world's third-largest egg producer, India's per capita egg consumption is lower than that of many other developing countries. There is enormous potential for growth in household egg consumption with an improved understanding of its health advantages, creating an opportunity for increased consumption of poultry feed. According to the Organisation for Economic Co-operation and Development (OECD), in 2017, poultry meat consumption was 2.32 kg, which increased to 2.58 kg in 2021.
According to the United States Department of Agriculture, corn and soybean meals made up the majority of poultry feed in the country in 2020. Other coarse grains, such as low-quality wheat and other oilseed meals, were added in small amounts, depending on how much the other meals cost.
India Compound Feed Industry Overview
The Compound Feed Market in India is fragmented with major companies like Cargill Inc., Archer Daniels Midland, Godrej Agrovet Limited, Nutreco (Trouw Nutrition), Alltech Inc., and New Hope Group in the market. Leading companies focused on acquiring feed mills and small manufacturing for expansion of the business in the local market. The leading companies focused on the expansion of the business across regions and setting up a new plant for increasing production capacity as well as a product line. The companies are also increasing the production capacities of their existing plants.
India Compound Feed Market Leaders
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Cargill Inc.
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Alltech, Inc.
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ADM
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Godrej Agrovet Limited
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Nutreco (Trouw Nutrition)
*Disclaimer: Major Players sorted in no particular order
India Compound Feed Market News
- December 2022: The Asian Development Bank (ADB) and ABIS Exports India Private Limited (ABIS) entered into an agreement to subscribe to non-convertible debentures for USD 16 million to enhance food security in India by supporting the construction of a microfiche feed plant and by training up to 6,000 farmers in climate-resilient fish farming practices as well as financial literacy.
- January 2022: eFeed, an Indian start-up, initiated its plans to establish nutrition advisory centers across the north-eastern districts of India with the purpose of driving sustainable and accountable animal husbandry.
- September 2021: Suguna Feeds launched their cattle feed variants, MilkyBest+ and NutriBest, at their feed mill in Udumalpet, India. Both of these cattle feed variants are relatively cheaper than most brands in the Indian market while offering higher quality.
India Compound Feed Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Animal Type
- 5.1.1 Ruminants
- 5.1.2 Poultry
- 5.1.3 Swine
- 5.1.4 Aquaculture
- 5.1.5 Other Animal Types
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5.2 Ingredient
- 5.2.1 Cereals
- 5.2.2 Cakes and Meals
- 5.2.3 By-products
- 5.2.4 Supplements
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Competitor Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Cargill Inc.
- 6.3.2 Alltech Inc.
- 6.3.3 New Hope Group
- 6.3.4 Nutreco (Trouw Nutrition),
- 6.3.5 Godrej Agrovet Limited
- 6.3.6 Archer Daniels Midland
- 6.3.7 Kyodo Shiryo Company
- 6.3.8 DeKalb Feeds
- 6.3.9 BASF SE
- 6.3.10 Nutreco NV
- 6.3.11 Japfa Comfeeds India Pvt. Ltd.
- 6.3.12 Suguna Foods Private Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIndia Compound Feed Industry Segmentation
Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. The India Compound Feed Market is segmented by Animal Type (Ruminants, Poultry, Swine, Aquaculture, and Other Animal Types) and Ingredients (Cereal, Cakes and Meals, By-products, and Supplements). The report offers market size and forecasts for India's Compound Feed Market in value (USD million) for all the above segments.
| Animal Type | Ruminants |
| Poultry | |
| Swine | |
| Aquaculture | |
| Other Animal Types | |
| Ingredient | Cereals |
| Cakes and Meals | |
| By-products | |
| Supplements |
India Compound Feed Market Research FAQs
How big is the India Compound Feed Market?
The India Compound Feed Market size is expected to reach USD 27.23 billion in 2024 and grow at a CAGR of 6.10% to reach USD 36.60 billion by 2029.
What is the current India Compound Feed Market size?
In 2024, the India Compound Feed Market size is expected to reach USD 27.23 billion.
Who are the key players in India Compound Feed Market?
Cargill Inc., Alltech, Inc., ADM, Godrej Agrovet Limited and Nutreco (Trouw Nutrition) are the major companies operating in the India Compound Feed Market.
What years does this India Compound Feed Market cover, and what was the market size in 2023?
In 2023, the India Compound Feed Market size was estimated at USD 25.66 billion. The report covers the India Compound Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Compound Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Compound Feed Industry Report
Statistics for the 2024 India Compound Feed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Compound Feed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
