The veal and beef production at farm gate in India has shown a general upward trend over the years. Starting from 2.07 billion euros in 2013, the production value steadily increased to 4.01 billion euros by 2023. This period witnessed some fluctuations, with notable dips in 2018 and 2020. Year-on-year variations highlight an initial period of strong growth rates, peaking at 35.76% in 2015, while recent years from 2020 to 2023 showed more moderate increases of between 3.34% and 4.07%. The compound annual growth rate (CAGR) for the past five years stabilized at 2.58% from 2018 to 2023. Future projections indicate a continuation of this slow but steady growth, with a forecasted CAGR of 2.31% leading to a 12.11% increase in production value by 2028.
Future trends to watch for include the impact of advancing agricultural technologies, shifts in domestic and global demand for veal and beef, climate change effects on livestock farming, policy changes, and evolving consumer preferences towards sustainable and ethical farming practices.
