The demand for meat in India has shown a steady growth trajectory from 2014 to 2023, increasing from 4.88 million metric tons in 2014 to 5.74 million metric tons in 2023. The year-on-year variations illustrate occasional fluctuations, such as a decline in 2019, but mostly positive growth with particularly notable increases in 2015 and 2018. The Compound Annual Growth Rate (CAGR) over the last five years is 0.64%, indicating consistent but moderate growth.
Future trends to watch for include:
- Health and Wellness Trends: Increasing consumer preference for plant-based alternatives could impact meat demand.
- Economic Factors: As disposable incomes rise, meat consumption may increase, but economic downturns could hinder growth.
- Regulatory Changes: Government policies related to food safety and animal welfare could affect production and consumption patterns.
- Technological Advancements: Improvements in meat production technologies and supply chain logistics could drive efficiencies and changes in demand.
