Veal and beef consumption at farm gate in India has shown an overall upward trend from 2013 through 2023, with significant fluctuations. In 2023, the consumption stood at 2,700 thousand metric tons. Year-on-year variations indicate periods of rapid growth, notably a 117.1% increase in 2015 and 51.21% in 2020. However, there were occasional declines, such as the 22.32% decrease in 2016. The Compound Annual Growth Rate (CAGR) over the last five years is 15.25%, showcasing consistent growth.
Looking ahead, the consumption is forecasted to continue rising, reaching 4,080 thousand metric tons by 2028, translating to a 6.47% CAGR over the next five years. Future trends to monitor include the impact of changing dietary preferences, economic conditions, and potential policy changes regarding cattle farming and meat consumption.
