Oilseeds feed consumption in India shows significant fluctuations from 2014 to 2023, with notable peaks in 2015 and 2017 where year-on-year growth spiked by 2.36% and 28.19%, respectively. However, the overall trend is downward, highlighted by a drastic drop in 2018 by 42.15%. Observing the past two years, the decline continues with yearly reductions of 3.31% in 2022 and 3.36% in 2023. As of 2023, the volume of oilseeds feed stands at 3.39 million metric tons.
The overall 5-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 is slightly positive at 0.2%, whereas the forecasted 5-year CAGR from 2024 to 2028 is estimated at -3.17%, predicting a shrinking market. The market is expected to diminish by 14.87% over the next five years.
Future trends to watch for include the impact of evolving agricultural policies, climate change affecting crop yields, and shifts in domestic demand and global trade dynamics.
