The forecast for the import of machinery for preparing animal feeding stuffs to India shows a consistent upward trend from 2024 to 2028, starting at 806.55 and rising to 877.16. This growth represents a year-on-year increase: 2.26% from 2024 to 2025, 2.16% from 2025 to 2026, 2.08% from 2026 to 2027, and 1.99% from 2027 to 2028. Using these year-on-year changes, the compounded annual growth rate (CAGR) over the five years is approximately 2.12%. Before 2024, the figure stood lower but specifics for 2023 are not provided.
Future trends to watch for include:
- Increased demand for machinery as the livestock and poultry sectors expand.
- Potential policy changes impacting imports and tariffs, influencing machinery cost.
- Technological advancements enhancing machinery efficiency, possibly affecting imports.