Institutional Sales Channel to Witness Fastest Growth in India Poultry and Hatchery Market through 2024
Rising
consumption of non-vegetarian products in urban areas and growth of tourism and
HoReCa sector to drive India poultry and hatchery market through 2024
According
to TechSci Research report, “India
Poultry and Hatchery Market, By
Type, By Sales Channel,
Competition, Forecast and
Opportunities, 2014 – 2024”, India poultry and hatchery market
is estimated to register a CAGR of over 12% during 2019 - 2024, to attain the
market value of over $ 29.6 billion by 2024. Anticipated growth in the market
can be attributed to rising young and dynamic population which is showing high
inclination towards non-vegetarian food products, growing awareness about
nutritional value of meat products along with surging demand for egg-based
bakery products. Moreover, rising household disposable income of middle-class
population coupled with rapid westernization has resulted in changing taste
preferences of Indian consumers, which is further leading to increased
consumption of meat products. This factor is anticipated to fuel growth in
India poultry and hatchery market during forecast period.
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Traditional/modern
retail stores segment dominates India poultry and hatchery market and is
anticipated to maintain its dominance during forecast period as well. However, institutional
sales are projected to show rapid growth in the coming years on account of
rising tourists footfall in the country and booming HoReCa sector. Moreover,
the number of quick-service restaurants such as KFC, McDonald's, Pizza Hut, and
Dominos is increasing in India, which is further expected to drive the demand
for processed meat, thereby pushing sales of poultry and hatchery through
institutional channel.
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Suguna Foods Pvt. Ltd., Venkys Group, Sneha
Farms Pvt. Ltd., Skylark Group, RM Group, Srinivasa Farms Private Limited,
Mulpuri Poultries, Komarla Group, etc. are some of the major companies
operating in India poultry and hatchery market. “Rising trend of consumption of
protein-rich and high energy diet by health conscious young population
particularly in urban regions, is propelling the demand for poultry and
hatchery in India. Moreover, rising health concern among consumers along with
increasing meat consumption backed by increasing per capita income and rapid
urbanization would further steer growth in the market in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India
Poultry
and Hatchery Market, By Type, By Sales Channel, Competition, Forecast
and Opportunities, 2014 - 2024” has evaluated the future
growth potential of poultry and hatchery in India and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India poultry and hatchery market.
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