India Feed Enzymes - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The India Feed Enzymes Market size is estimated at USD 40.79 million in 2024, and is expected to reach USD 51.53 million by 2029, growing at a CAGR of 4.79% during the forecast period (2024-2029).

• In 2022, India was one of the leading countries in the Asia-Pacific feed enzymes market, accounting for 9.4%. Feed enzymes accounted for around 3.5% of the Indian feed additives market, valued at USD 37.2 million. The market value is increasing due to the rising demand for animal feed in the country.
• Carbohydrases were the largest feed enzymes in terms of market value in 2022, accounting for 48.8% of the Indian total feed enzymes market. The larger share of carbohydrases was due to the higher consumption and requirement for carbohydrates by all animal types for proper digestion. Poultry birds were the largest animal type in India in terms of the market value of feed carbohydrases, accounting for 66.4% of the total carbohydrases feed market in 2022, followed by ruminants and aquaculture, which accounted for 27.4% and 5.2%, respectively.
• Phytases are another important feed enzyme that helps in decreasing the fecal phosphorus level by increasing the absorption of phosphorus and increasing the availability of starch, protein, and amino acids in the animal body.
• Carbohydrases were the country's fastest-growing feed enzymes, registering a CAGR of 5.4% during the forecast period. The higher growth rate was due to the increased use and demand for carbohydrases, as a large proportion of animal feed is carbohydrates.
• In all animal types, one or many feed enzymes should be supplied through animal feed as enzymes enhance the properties of feedstuffs and animals, leading to overall revenues. The inclusion of enzymes in animal feed assists with the production of more meat per animal, and it is expected that the Indian feed enzymes market may register a CAGR of 4.8% during the forecast period.

India Feed Enzymes Market Trends

Rising demand for poultry meat and egg consumption is increasing the poultry production but diseases such as Avian Influenza had negative impact on poultry population

• The Indian poultry industry is currently one of the largest producers of eggs and broiler meat worldwide. In recent years, the industry has undergone significant transformations, driven primarily by the rise in poultry meat and egg consumption, which fueled a 7.1% increase in poultry production in 2022 from 2017. Furthermore, the country's per capita consumption of poultry meat reached 2.65 kg in 2022, a 13.7% increase from 2017, and the per capita availability of eggs raised to 91 eggs per annum in 2021, which is four more units than in the previous year.
• The Indian poultry market is primarily concentrated in Andhra Pradesh, Tamil Nadu, and Telangana, accounting for a significant portion of the country's production. The Indian poultry industry has also established itself as a significant player in the global market, with 320,240.46 metric tons of poultry products exported in 2021-22, amounting to USD 71.04 million. Major importers of Indian poultry products include Oman, Maldives, Indonesia, Vietnam, Japan, and Russia.
• However, the Indian poultry industry faces several challenges. The outbreak of avian influenza and other diseases in poultry led to the culling of birds, resulting in significant financial losses for the industry. Additionally, the industry is plagued by issues, such as high feed costs, inadequate processing and storage facilities, and limited access to credit. To overcome these challenges, the industry requires significant investments in infrastructure and technology and government support. Overall, the increasing demand for poultry meat in importing countries, coupled with rising domestic demand, has led to a significant increase in poultry production in India.

India being third largest fish producing country and the surge in demand for seafood as well as the government's initiatives is increasing the aqua feed demand and production

• The Indian aquaculture industry has experienced significant growth due to the surge in demand for seafood, leading to a sudden increase in the growth of the aqua feed market. In 2022, the country's aquaculture feed production reached 2.2 million metric tons, a 48.6% increase from 2017-2022, primarily driven by the increasing aquaculture in India. Fish feed dominates the aqua feed market in India, accounting for 87% of the total aqua feed production, followed by shrimp feed at 6.6% in 2022. The demand for fish is rising both domestically and internationally, making it essential for the aqua feed market to maintain the demand for high-quality fish in the country.
• India is the world's third-largest fish-producing country, contributing 7.96% to global production. In 2020-21, the country produced 14.7 million metric tons of fish. Andhra Pradesh is the largest fish-feed-consuming state in India, followed by West Bengal, owing to its high fish production. Shrimp feed production grew by 75.6% from 2018, mainly due to the surging global demand for shrimp, leading to aqua feed manufacturers producing large quantities of shrimp feed to cater to the increasing demand.
• The increasing demand for seafood, coupled with the government's initiatives and growing investments in the aquaculture sector, such as offering subsidies and incentives for the construction of new ponds, purchasing feeds, and setting up processing units, is expected to fuel the growth of the aqua feed market in India in the coming years. The expansion of the aqua feed market is expected to support the growth of the Indian economy, create employment opportunities, and contribute to food security.

India Feed Enzymes Industry Overview

The India Feed Enzymes Market is moderately consolidated, with the top five companies occupying 51.97%. The major players in this market are Adisseo, Archer Daniel Midland Co., Brenntag SE, DSM Nutritional Products AG and Kerry Group Plc (sorted alphabetically).

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