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 Indian compound feed market is essential for the country's livestock sector, encompassing poultry, cattle, aquaculture, and swine industries. This market has experienced significant growth due to rising demand for animal-based products like meat, eggs, and dairy. According to the Food and Agriculture Organization, India leads globally in cattle and buffalo production, is the largest producer of milk and buffalo meat, ranks second in goat meat production, and third in poultry production. For instance, according to FAOSTATS data for 2022, India is home to over 193.6 million cattle heads, 111.8 million buffaloes heads, approximately 150 million goats heads, and more than 885.7 million poultry heads. This vast animal population highlights the considerable demand for quality feed.
Corn and soybean meal are the primary components of the Indian compound feed market, as reported by a USDA study. These are often supplemented with other coarse grains and oilseed meals. In the dairy sector, farm-made mixes are prevalent, particularly for lactating cows and female buffaloes, reflecting the small-scale nature of many Indian dairy operations. The market's growth is further driven by increased purchasing power and favorable demographics across rural and urban areas.
Government initiatives aimed at enhancing food security, economic development, and animal health support the expansion of the Indian compound feed market. In September 2024, the National Bank for Agriculture and Rural Development of India organized a training program on "Advances in Animal Feeding and Management for Enhanced Farm Income" in Bengaluru. This program highlighted the importance of advanced animal feeding techniques in dairy farming and emphasized inter-institutional collaborations to benefit the farming community. Such initiatives enhance the compound feed market by promoting overall livestock nutrition and addressing the increasing demand.
India Compound Feed Market Market Trends
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, in 2023, the cattle population in India reached 307.5 million. The increase is owed to government initiatives that have complemented the cattle industry as well as the compound feed industry's developments.
The cultural significance of cattle in India, particularly in Hinduism where bovine animals are considered sacred, further drives the compound feed market. Since cattle are predominantly reared for their milk, the demand for milk directly influences the need for quality feed. According to the Department of Animal Husbandry & Dairying, India's per capita milk consumption in 2023 was 459 g/day which was 427g/day in 2021. 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 885.7 million, and meat output is approximately 4.95 million metric tons in 2022. This shift towards large-scale, technologically advanced poultry farming has increased the demand for high-quality compound feed, making it a crucial component of the industry’s growth. Together, the expanding cattle and poultry industries in India are key drivers of the compound feed market’s growth, supported by the rising consumption trends.
Poultry Feed Segment Dominates the Market
The poultry feed segment holds a dominant position in the Indian compound feed market, driven by the critical role that poultry plays in the country’s food supply. Poultry farming is essential in India, not only as a source of meat but also for its contribution to the country's egg production, both of which are significant to the nation's nutritional and economic landscape.
India is one of the largest producers of poultry meat and eggs globally, with poultry farming evolving from traditional backyard practices to highly organized commercial enterprises. This transformation has significantly increased the demand for high-quality poultry feed, which is crucial for ensuring the health and productivity of birds. For instance, according to the Agricultural & Processed Food Products Export Development Authority (APEDA), India produced 138.38 billion eggs during 2022-2023. Also, India's poultry meat consumption reached 4.41 million metric tons in 2023, an increase of 0.16 million metric tons from the previous year, positioning India as one of the leading players in the global poultry market. The consistency and quality of egg and meat production depend significantly on the availability of high-quality feed, which is designed to support the nutritional needs of poultry birds. The increasing demand for eggs and meat, both domestically and internationally, continues to drive the growth of the poultry feed segment, making it a vital component of India’s compound feed market.
The importance of poultry in India extends beyond nutrition; it also plays a crucial role in rural development and employment. Poultry farming provides livelihoods for millions of people across the country, particularly in rural areas where it serves as a significant source of income. The expansion of the poultry industry, therefore, not only boosts meat and egg production but also contributes to the economic well-being of rural communities. For instance, in July 2023, Amul Dairy, an Indian dairy cooperative, expanded its operations by launching poultry feed production lines. This move aimed to enhance Amul's poultry feed production capabilities across multiple regions in India. Hence, with a huge demand for poultry meat and eggs and growing Government initiatives, the poultry feed segment is anticipated to grow more during the forecast period.
India Compound Feed Market Industry Overview
The Compound Feed Market in India is fragmented with major companies like Cargill Inc., Archer Daniels Midland, Godrej Agrovet Limited, SHV (Nutreco NV), 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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SHV (Nutreco NV)
*Disclaimer: Major Players sorted in no particular order
India Compound Feed Market News
- October 2023: De Heus India expanded its operations by opening an advanced animal feed plant at Vividha Industrial Park in Rajpura, Punjab. With an annual capacity of 180,000 metric tons, the company has planned to introduce innovative feed solutions for dairy, poultry, and fish farming, aiming to improve livestock productivity.
- July 2023: Amul Dairy launched a poultry feed production line, significantly benefiting the Indian compound feed market. Leveraging Amul's reputation for quality and its extensive distribution network, this move enhances the availability of high-quality poultry feed across India.
- January 2022: eFeed, an Indian start-up, initiated its plans to establish nutrition advisory centers across the northeastern districts of India to drive sustainable and accountable animal husbandry.
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
4.2.1 Rising Livestocl Population
4.2.2 Increasing Demand for Animal-Based Products
4.2.3 Government Support and Initiatives
4.3 Market Restraints
4.3.1 High Costs of Raw Materials
4.3.2 Limited Awareness Among Small-Scale Farmers
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
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
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
6.3 Company Profiles
6.3.1 Cargill Inc.
6.3.2 Alltech Inc.
6.3.3 New Hope Group
6.3.4 SHV (Nutreco NV)
6.3.5 Godrej Agrovet Limited
6.3.6 Archer Daniels Midland
6.3.7 De Heus Animal Nutrition
6.3.8 BASF SE
6.3.9 Japfa Comfeeds India Pvt. Ltd.
6.3.10 Suguna Foods Private Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Compound Feed Market 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) 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 SHV (Nutreco NV) 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 25.57 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.
India Compound Feed Market Report Snapshots
