The poultry meat market in India has shown steady growth over the past decade. As of 2023, the market size stood at 3.31 million metric tons. The market experienced notable increases in earlier years, such as a 6.15% rise in 2018. However, recent years show a trend of slower growth, with the year-on-year variation for 2023 at 1.38%. The compound annual growth rate (CAGR) over the last five years is 1.08%, indicating a deceleration compared to previous years.
- 2014-2018: Consistent growth, highlighted by a rapid increase in 2018 (+6.15%).
- 2019: Slight decline by -0.35%, signaling market variability.
- 2020-2023: Gradual growth with minor fluctuations; 2023 grew by 1.38% year-on-year.
- 2024-2028: Forecasted growth remains modest with a projected five-year CAGR of 0.98%.
Future trends to watch for include potential impacts of consumer dietary shifts toward plant-based proteins, technological advancements in poultry farming, and regulatory changes affecting the poultry industry’s operational efficiency and market reach.
