India 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”, 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 animal feed supplements market owes its growth to the factors like rapidly increasing ruminant population of the country. Also, growing meat consumption, and surging demand for the milk products is further driving the growth of the India animal feed supplements market in the next five years.
Additionally, increasing awareness among the population and growing concerns regarding animal health and to increase higher yield for the animal produced products is further expected to support the growth of the India animal feed supplements market in the future five years. Recent outbreak of pandemic due to 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 India animal feed supplements market in the forecast period. Furthermore, increasing prices of raw material like maize, barley, wheat, etc. along with the stringent regulation toward quality assurance of the animal feed may hinder with the future growth of the India animal feed supplements market.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on “India 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 produces. Increasing demand for the healthier diet for the animals is further driving the growth of the India 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 the animal feed productions. 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.
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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 the healthier and protein enriched diet for the 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 India animal feed supplements market in the upcoming five years.
Antibiotics are also expected to register fastest growing CAGR value in the next five years due to their increased adaptation as 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 India 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 demands for the milk and milk products. Increasing population of ruminants in the country is another driving factor that drives the growth of the India animal feed supplements market in the forecast period. Poultry is expected to register significant growth due to increasing demand for the 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
“Increasing research and technological advancement in the animal feed products is driving the growth of the India animal feed supplements market in the upcoming five years. Surge in the demand for the healthier animal produce further supports the market growth. Also, due to increasing exportation of the animal produce 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 India 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 India animal feed supplements market.
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