A research service on the Indian animal feed additives market from 2006 to 2016, with base year 2009. The report covers 6 segments, namely enzymes, amino acids, coccidiostats, preservatives, probiotics and vitamin premixes. The scope of this report is geographically limited to India. The study presents detailed analysis on each of these segments providing, drivers, restraints, revenue forecast and growth rates and competitive analysis. All values in this report are in US$. The total market for animal feed additives in India for the year 2009 was US$159 and is expected to witness a CAGR of 9.3% and revenues upto $269 in 2016
The $159.0 Million Market to Earn $296.0 Million in 2016, at a CAGR of 9.3 Percent.The 8 to 10 percent growth of the Indian poultry and cattle industries in the last few years has found an acknowledgement in the consolidation of the animal health and animal feed industries, especially following the entry of global participants. India is already the fifth-largest egg-producing country in the world and the livestock and cattle market are looking to replicate its success. An exponential rise in consumer spending due to improvements in per capital income levels bodes well for the feed additives market. a€?For instance, the per capita consumption of poultry meat increased from 246 grams per year in the 1970s to 1.8 kilograms per year in 2009, despite the large vegetarian population in India,a€? says the analyst of this research. a€?The growth of the poultry and livestock sectors is mainly due to the higher demand for processed meat, which, in turn, has led to a huge integration and consolidation within the animal feed industry and its related sectors.a€? The need for consolidation and organization has been intensified with the growth of the Indian retail sector (growing at 15 percent year on year) and the Indian processed foods sector (growing at 13.4 percent year on year).
New participants will be presented with a plethora of opportunities in this yet untapped market. Once they begin to realize the full potential of the Indian animal feed additive market, rural Indian farmer/breeder markets and ultimately, all animal-related industries in India will get a leg up. However, the lack of regulations, coupled with the presence of a large, unorganized, regional animal feed market, will hamper the pace of market growth. The lack of awareness about the benefits of additives will only compound these challenges. Most rural farmers and breeders are either unaware of the need for feed additives or are unable to afford them, preferring instead, to buy the feed from the unorganized market. a€?The need to spread awareness about the benefits of feed additives is not only important to gain customer acceptance, but is also vital for the growth of the livestock industry,a€? notes the analyst. a€?Further, market participants have to allocate funds toward research and development to ensure innovation and product differentiation in the market.a€? Feed additive manufacturers can partner with the Government to build institutions and R&D centers to ensure availability of high-quality human resources to spread brand and product awareness in order to tap the marketa€?s potential.