July 15, 2015

 

India to become world's largest animal feed market

 

 

Growth prospects are brilliant on the future of India's feed sector; as the industry gears towards becoming a US$30 billion business by 2020, and with a compound annual growth rate of 8%, India may eventually position as the biggest feed market in the world. 

 

This will mark a meteoric rise from the current US$15 billion, according to a report by Yes Bank Indian Feed Industry. As the industry settles into a more organised state, Nitin Puri, the president and national head of food and agribusiness research management at Yes Bank, believes that the sector will enjoy a significant degree of expansion.

 

By 2017-18, feed consumption is expected to swell to 28 million tonnes, propelled by demand for animal protein and dairy products. In the next five years, feed demand from the aquaculture sector may rise 9% in the next five years, along with those from broiler at 8%, layers at 5-6%, and cattle at 6%.

 

Also in the coming five years, the poultry sector is expected to increase to 22 million tonnes of feed consumption volume, from a current 12.4 million tonnes; cattle will rise to 67 million tonnes from 7.5 million tonnes; and aquaculture will grow to seven million tonnes from one million tonnes.

 

The Yes Bank report also revealed that feed industry requirements for compound feed are 11% fulfilled, in addition to aqua feed at 14% and poultry feed at 55%.

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