In 2023, the Beef Meat Market in India stood at 1.5 million metric tons. The market has shown slow but consistent growth over the years, with a few fluctuations. Since 2014, the market volume increased from 1.13 million metric tons, with notable year-on-year growth such as 17.23% in 2015. The years 2016 and 2018 also showed positive changes in market volume. However, 2017 saw a decrease of 4.72%. The Compound Annual Growth Rate (CAGR) over the last five years stood at 1.23% in 2023.
Looking forward, the forecast suggests continued growth at a CAGR of 0.95% from 2024 to 2028, with the market expected to reach 1.59 million metric tons by 2028. Future trends to watch for include the rising demand for quality beef products, potential impacts of economic conditions on consumer purchasing power, and any regulatory changes affecting the meat industry in India.
