India’s Animal Feed Supplements Market is expected to show robust growth due to increasing investment in animal healthcare in the forecast period, FY2017-FY2027. According to TechSci report on, “India Animal Feed Supplements Market, By Region, Competition Forecast & Opportunities, FY2017 – FY2027”, the India animal feed supplements market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027. India’s animal feed supplements market owes its growth to the factors like rapidly increasing ruminant population of the country.
The Important Factors of the Indian Animal Feed Supplements Market
Growing meat consumption and surging demand for milk products are further driving the growth of the Indian animal feed supplements market in the next five years.
Additionally, increasing awareness among the population and growing concerns regarding animal health, and increasing higher yield for animal-produced products are further expected to support the growth of the Indian animal feed supplements market in the future five years. The recent outbreak of the pandemic due to the widespread COVID-19 virus, also increased concerns over livestock diseases and thus associated safety concerns are also substantiating the growth of the India animal feed supplements market in the forecast years until FY2027.
Moreover, increasing exports of the animal products like milk, meat, etc. further aid the growth of the Indian animal feed supplements market in the forecast period. Furthermore, increasing prices of raw materials like maize, barley, wheat, etc. along with the stringent regulation toward quality assurance of the animal feed may hinder the future growth of the Indian animal feed supplements market.
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The India animal feed supplements market segmentation is based on source, product type, livestock, form, competitional landscape, and regional distribution.
Based on source, the market is further fragmented into natural and synthetic. Natural sources are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing demands for organic animal products. Increasing demand for a healthier diet for animals is further driving the growth of the Indian animal feed supplements market in the next five years.
Synthetic sources are also anticipated register significant growth in the future five years on the grounds of increasing research and advancement in animal feed production. Synthetic sources are actively utilized with the optimum measure of the nutrient supply to the animals through their feed, thus substantiating the growth of the India animal feed supplements market in the forecast years, until FY2027.
Based on product type, the market is segmented into amino acids, phosphates, vitamins & minerals, enzymes, antibiotics, and others. Amino acids are anticipated to dominate the market segment in the next five years on the grounds of increasing demand for a healthier and protein-enriched diet for animals. Amino acids are the building blocks of protein. To provide protein-enriched animal feed such that higher yields can be obtained, the sub-segment flourishes and drives the growth of the Indian animal feed supplements market in the upcoming five years.
Antibiotics are also expected to register the fastest-growing CAGR value in the next five years due to their increased adaptation as an animal feed supplement. Increasing concerns over animal welfare and due to increased health concerns, animals are fed antibiotics such that their immune system stays strong and livestock diseases can be avoided. These factors are expected to drive the growth of the Indian animal feed supplements market in the forecast years too.
The market segmentation based on livestock is bifurcated into ruminants, poultry, swine, aquatic animals, and others. Ruminants are expected to dominate the market segment in the next five years on the grounds of increasing demand for milk and milk products. The increasing population of ruminants in the country is another driving factor that drives the growth of the Indian animal feed supplements market in the forecast period. Poultry is expected to register significant growth due to increasing demand for chicken meat, and derivative products in the upcoming five years.
A partial list of market players in the field includes:
- Vinayak Ingredients India Pvt. Ltd.
- ADM Agro Industries India Pvt Ltd
- BASF India Ltd.
- Cargill India Pvt. Ltd.
- Evonik India Private Limited
- DSM India Private Limited
- Nutreco-West Coast Group
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“Increasing research and technological advancement in animal feed products are driving the growth of the Indian animal feed supplements market in the upcoming five years. The surge in the demand for healthier animal products further supports market growth. Also, due to the increasing exportation of animal products, the market is bound to grow in future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Animal Feed Supplements Market By Source (Natural v/s Synthetic), By Product Type (Amino Acids, Phosphates, Vitamins & Minerals, Enzymes, Antibiotics, Others), By Livestock (Ruminants, Poultry, Swine, Aquatic Animals, Others), By Form (Dry v/s Liquid), By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of Indian animal feed supplements market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Indian animal feed supplements market.
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