Mr. Rahul Kapur, Managing Director & Chairman, Avitech Nutrition.
The global Animal Nutrition market is anticipated to rise considerably, expected to reach a value of USD 739.87 million by 2029, with a CAGR of 5.50% during the forecast period from 2023 to 2030. The India Compound Feed Market size is expected to grow from USD 25.66 billion in 2023 to USD 34.50 billion by 2028, at a CAGR of 6.10% during the forecast period from 2023 to 2028.
Today, the Feed and Animal Nutrition market in India is increasingly driven by performance. The poultry industry navigates a competitive landscape marked by integration and consolidation, particularly within the broiler sector. In the poultry sector, the delicate and often unremunerative challenge of low-end product rates and high ingredient prices propels a quest for remunerative prices over commodity rates.
This quest unfolds through vigorous branding initiatives, with safety as a pivot, urging a shift from antibiotics to phytogenic micro-ingredients in feed. The increasingly organized approach to milk production emphasises increased output, driving greater usage of concentrates and feeds.
The shrimp sector grapples with fierce competition emanating from Ecuador in export markets, prompting strategic integration and consolidation efforts to enhance competitiveness.
Meanwhile, novel ingredients like Black Soldier Fly meal aspire to fulfil protein requirements in the feed sector, though commercial viability remains an ongoing pursuit. In the ever-evolving landscape of the egg sector, a shift in the willingness to procure feed rather than self-manufacture is observed.
Micro ingredients are emerging as pivotal elements, steadily enhancing efficiency, and controlling production costs. As the industry adapts, innovation and strategic shifts become the lynchpin for sustained success in the dynamic market. With a burgeoning middle class and rising levels of disposable income, the appetite for milk, eggs, and meat is set to grow exponentially over the next decade. In time a steady transition from live to processed meat is anticipated. This shift reflects changing consumer preferences but also signals the commencement of large investments in the processing sector.