The historical data for maize feed in India indicates a gradual increase in volume from 7.36 million metric tons in 2014 to 10.13 million metric tons in 2023, where the market stood in volume terms. The year-on-year growth rates fluctuated over the years with a notable surge of 14.41% in 2016 and a decline of 5.41% in 2018. The average compounded annual growth rate (CAGR) over the past five years has been 1.88%, showing a moderate growth trajectory.
Projected estimates foresee a continuous rise, predicting the volume to reach 10.85 million metric tons by 2028. The forecasted five-year CAGR is slightly lower at 1.08%, implying a slower but persistent growth.
Future trends to watch for include:
- The impact of technological advancements in agriculture on maize yield.
- Changing dietary patterns and their influence on livestock feed demand.
- Policy shifts and their potential ramifications on the maize industry, particularly import-export regulations.
- Climate change effects on maize production stability and supply chain resilience.
