India Feed Additives Market Forecasts to 2026: CAGR of 3.55% Forecast During 2021-2026, with Market set to Reach US$1.871 Billion by 2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “India Feed Additives Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The India feed additives market is projected to witness a compounded annual growth rate of 3.55% to grow to US$1.871 billion by 2026, from US$1.466 billion in 2019.
In animal agriculture, feed additives have been used to control pathogen colonization in animals’ guts. Growing meat consumption in India, combined with recent disease outbreaks, has resulted in a demand for additives in poultry, aquaculture, and other animal-based goods, which is projected to drive the product demand during the forecast period. Furthermore, an increase in the country’s disposable income is also expected to fuel its animal feed additive market growth, considering the increasing demand for quality animal-based products for maintaining good health and wellness.
Rising meat consumption is expected to drive the market growth over the forecast period
One of the major factors expected to drive India’s feed additives market growth is the growing consumption of meat in the country. Therefore, with an increase in disposable income, the demand for meat products is also expected to increase, which will further propel the demand for animal feed additives in the country as well. According to a Fitch Solutions report, published in June 2021, the average Indian household will spend 35.3% of the total household budget on food in 2025, up 2.1 percentage points from 33.2% in 2005. Its further states that by 2025, poultry will be the most consumed meat, with per capita consumption of 2.9kg, increasing from 1.1kg in 2005 and representing 71% of total meat consumed in India, thus, indicating a growing market for meat products and subsequently for animal feed additives as well.
Cattle is projected to hold a notable share
Indian cattle industry livestock farming is an important part of Indian agriculture and it contributes to the well-being of their consumers. The increased demand for cattle feed additives is due to their efficiency in reducing the deficiency of nutrients as well as in preventing several health diseases in cattle. The agriculture and livestock sectors are the two most important factors that are responsible for the survival of the rural population in India. Adequate provision of nutritional feed is essential to livestock production by cattle. India is the largest producer of milk, meat, and other dairy products give the Indian cattle feed additive market an enormous potential for growth.
The cattle feed additive market is continuously growing due to the rising demand for feed to add nutritional value to the cattle feed to increase the cattle’s efficiency and lactational capabilities of the cattle. Consumers are raising more awareness about the quality and the safety of cattle feed additives in order to avoid any disease outbreak.
- Amino Acid
- Aquatic Animals
By Feed Form
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.5. Industry Value Chain Analysis
5. INDIA FEED ADDITIVES MARKET BY PRODUCT
5.5. Amino Acid
6. INDIA FEED ADDITIVES MARKET BY LIVESTOCK
6.2. Aquatic Animals
7. INDIA FEED ADDITIVES MARKET BY FEED FORM
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
- Cargill Incorporated
- BASF SE
- CHR. Hansen
- Evonik Industries
- Archer Daniels Midland Company
- Alltech Inc
- Elanco Animal Health
For more information about this report visit https://www.researchandmarkets.com/r/mvlj8x
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