Shaping The Future Of The Indian Poultry Industry In The New Decade.

The Indian poultry sector has grown substantially over the past decade, and this growth pattern is expected to persist into the coming years. With protein being the need of the hour post-pandemic, rising demand for protein-rich products, and the increasing popularity of poultry products, the sector is positioned to become an even larger contributor to the Indian economy. From its start in the early 1960s, the Indian poultry business has come a long way. The business has grown dramatically over the past few years, from backyard poultry to contract farming. The Indian poultry sector expanded rapidly in the 1990s, with major companies joining the market. This resulted in the adoption of sophisticated technology, superior breeds, and enhanced management methods, all of which contributed to increased production and efficiency. With an estimated value of roughly 1.3 trillion rupees (US$17 billion), the Indian poultry sector is now a substantial contribution to the country’s economy. With an annual output of more than 100 billion eggs, India is now one of the world’s top three egg-producing countries. Similarly, with an annual production of approximately 4 million metric tons, the country is one of the main producers of broiler meat.Ensuring Nutritional Security of the NationIn 2022, the Indian poultry market reached a value of USD 28.18 billion. The market is predicted to grow at an 8.1% CAGR from 2023 to 2028, reaching a value of around USD 44.97 billion by 2028. Broiler production dominates the sector, accounting for nearly 90% of the total output.The recommended protein dietary requirement for an average Indian adult is 0.8 to 1 gm per kg body weight, although the actual consumption is around 0.6 gm per kg body weight. Protein intake is on the rise globally, with an average of 68 grams per person per day. While India is one of the largest producers of poultry meat, it has the lowest average protein consumption among Asian and developed countries (47 grams per person per day). With that being said, meat consumption inIndia has been rapidly increasing over the years, owing to growing population affordability, meat quality, and changing dietary trends.The poultry business drives the Indian meat market, with chicken being the most common meat consumed due to its availability, affordability, and nutritional benefits. The increase in per capita income has also been a major influence in increased meat purchases across regions. More hotels, restaurants, and cafes (HORECA) have developed leading to heightened demand for meat products. With these forces at play, poultry firms are expected to operate at near-full capacity in the coming years. Additionally, to accommodate the increased demand for protein-rich foods, the Indian government has lately undertaken programs to enhance meat exports and local production. By doing so, the industry is expected to develop even more and contribute significantly to the country’s food supply and nutrition security.Key Trends Shaping the Future of the Indian Poultry IndustryIncreasing Adoption of TechnologyAdoption of technology is crucial for the Indian poultry industry’s development and sustainability. There has been an increasing trend in recent years for the implementation of contemporary technology such as automated feeding systems, temperature control systems, and biosecurity precautions. These technologies have the potential to increase productivity, lower production costs, and improve the quality and safety of poultry products. The Indian government has established various measures to encourage technology adoption in the poultry business, including the National Livestock Mission, which provides subsidies for the acquisition of modern equipment and technology.Changing Consumer Preferences and Standards for Quality MeatDemand for hygienic and fresh meat is increasing in India as customers are becoming more health-conscious and mindful of food safety. Consumers are constantly looking for high-quality meat products and go beyond in looking at brand adherence towards fresh and safe produce. In India, the processed food industry is one of the most significant, accounting for more than 32% of the overall food market. Due to its prolonged shelf life, ease of availability, and product diversity, there has been sustained acceptance and demand for processed and hygienic meat since the outbreak of the pandemic, which has created new potential in this area. The industry has also generated new employment opportunities, enhanced food security, and improved access to protein sources. The expansion of the processed meat market has resulted in a large increase in meat demand, boosting the earnings of farmers and livestock producers. This is just the beginning of a golden era for India’s food processing industry, with more such advancements expected in the upcoming years.The Indian poultry sector has enormous potential to grow and shape the future of the country’s food and agricultural sectors. The industry has already expanded significantly over the last decade, and with suitable policies and strategies, it can continue to grow and contribute to the country and economic progress.

Source: Industry Outlook Services and Consulting