From 2012 to 2023, India's sheepmeat production at the farm gate has exhibited significant growth, escalating from 5.56 billion euros to 13.25 billion euros. This period saw varying year-on-year growth rates, with some notable peaks such as an 18.87% increase in 2015 and a 15.39% rise in 2020. However, there were also periods of modest growth, particularly in 2021 and 2022, with increases of 1.33% and 4.53%, respectively. Over the last five years (2018-2023), the compound annual growth rate (CAGR) averaged 6.91%.
Looking forward, from 2023 to 2027, forecasted data suggest a continuation of moderate growth in sheepmeat production. The forecasted CAGR for this period stands at 2.92%, indicating a more stable but slower growth trajectory. Total forecasted growth over these five years is approximately 15.5%, suggesting ongoing confidence in the industry’s expansion.
Future trends to watch for include the impact of advancements in agricultural technology, sustainable farming practices, and potential shifts in domestic and international demand. Monitoring these factors will be crucial for anticipating changes in production dynamics and market positioning.
