Big growth in poultry set to continue in India
The growth trend in the domestic poultry industry is likely to continue in the present decade, as the demand is growing steadily on the back of favourable socio-economic factors like healthy GDP growth, rising purchasing power, changing food habits, and increasing urbanisation, according to a report by Icra.
The Indian poultry market size is estimated at more than1 billion USD, with broiler meat and table eggs contributing more than 95 per cent of the market, according to Intrenational Credit Rating Agency (ICRA) in India.
The poultry sector has transformed from a backyard activity into a major commercial activity in last two decades, with the presence of large integrated players who successfully implemented contract poultry farming on a large scale.
Poultry production has remained largely limited to Southern India and western Maharashtra, though states like Haryana, Punjab, and parts of West Bengal have seen increased adoption of poultry farming as alternative source of income for largely agrarian economy.
The Indian poultry sector has been growing annually at around 8-10 per cent over the last decade and at over 15 per cent in the last three years. Icra projects the domestic broiler meat demand to grow around 15-18 per cent, and table egg demand to grow at 5-7 per cent over medium to long term.