Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "India Poultry Market Report by End Use, Distribution Channel, and States 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The India poultry market has shown significant growth with the market size amounting to INR 2,099.2 Billion in 2023. It is projected to reach an impressive INR 4,620.7 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 9.16% during the forecast period of 2023-2032. A range of factors including the rising population, shift in consumer dietary patterns, growing disposable income, and the expansion of the food service sector underpins this optimistic growth trajectory.
This growth aligns with the increasing consumption of poultry products within the region, driven by the surge in population and an associated rise in consumer demand for protein-rich food items. The preference for poultry items such as chicken meat and eggs remains high due to their affordability and versatility in diverse cuisines. The Indian poultry market is segmented into various categories to provide an inclusive overview, with particular attention on the differentiation between food services and household consumptions. Food services currently lead consumption trends, complementing the booming urbanization and modern retail layout, while traditional retail stores maintain a significant presence in the market.
Regional Market Developments
The report identifies Maharashtra as the dominant state in the country's poultry market, credited to its advanced retail infrastructure and strong economic stature that supports higher consumer spending. The state's rich food service industry caters to an extensive range of local and international cuisines where poultry products are a central ingredient.
Competitive Landscape and Strategic Initiatives
The market is witnessing strategic maneuvers by stakeholders who are expanding production capacities, launching new product lines, and investing in technology and automation for enhanced operational efficiency. The emphasis on sustainable practices and responsible sourcing is also perceptible among major market players. As the Indian poultry market continues to pursue an upward growth curve, industry players are poised to explore the breadth of emerging opportunities while continuously adapting to evolving market demands and consumer preferences. **Looking Forward**
The projected advancement of the Indian poultry market is expected to significantly contribute to the agricultural sector's expansion, national economy, and meet the rising food demands of the region. The profound insights offered in the market overview showcase ongoing industrial innovations and underline the importance of strategic planning for businesses operating within this sphere.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (INR) in 2023 | INR2.09 Trillion |
| Forecasted Market Value (INR) by 2032 | INR4.62 Trillion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | India |
Companies Featured
- Bharati Poultry Pvt. Limited
- IB Group
- Mulpuri Group
- RM Hatcheries (RM Group)
- Simran Farms Limited
- Skylark Hatcheries pvt. ltd.
- Sneha Group
- Srinivasa Farms
- Suguna Foods Private Limited
- Venkys India (VH Group) etc.
For more information about this report visit https://www.researchandmarkets.com/r/yqp0un
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