Indian Poultry Industry Developments
On November 28, 2024, Allana Group, a leading player in the Indian food and agribusiness sector, made a significant announcement at Poultry India 2024, a premier event for the poultry industry. The company launched the Indian Poultry Alliance, a pioneering initiative aimed at promoting and developing the Indian poultry sector. This strategic move is expected to have a profound impact on the industry, fostering growth, collaboration with stakeholders, and innovation.
Indian Poultry Alliance Initiative
The Indian Poultry Alliance, spearheaded by Allana Group, seeks to provide a unified platform for poultry farmers, breeders, and feed manufacturers. The alliance will focus on promoting best practices, improving productivity, and enhancing the overall competitiveness of the Indian poultry industry.
By launching this initiative Allana Group has demonstrated its commitment to support growth and development of the Indian poultry sector. It is poised to play a vital role in meeting the country’s increasing demand for protein.
As the Indian Poultry Alliance begins its journey, it is expected to facilitate knowledge sharing, policy advocacy, and technology transfers that benefit the entire poultry value chain. With Allana Group’s expertise and guidance, the alliance is poised to become a catalyst for growth, sustainability, and innovation in the Indian poultry industry. These factors are driving progress and prosperity for all stakeholders involved.
Global Poultry Industry Overview
As per Coherent Market Insights, the global poultry industry is set to soar at a CAGR of 3.5% from 2023 to 2030. By 2030, revenue generated by the industry is projected to reach US$ 375.41 billion from US$ 284.43 billion in 2022. Growth is attributed to the increasing global population and the purchasing power of individuals. Poultry meat is considered as most preferable form of meat among pork, beef, and red meat.
Moreover, the rising number of people consuming poultry meat as compared to other products is fueling demand in the industry. Additionally, various health benefits related to poultry consumption will also lead to drive sales in the industry.
Rising awareness about animal health also boosts growth in the global industry. There is a growing demand for animal-based products that lead to increased sales. Moreover, favorable government initiatives such as the National Livestock Mission and support for poultry farming via loans and subsidies played a crucial role in boosting demand.
Technological advancement and improved breeding practices will also lead to enhanced productivity in the global industry. Other factors that fuel growth in the industry are a large consumer base, growing demand for protein-rich food, and rising government support.
Regional Insights
Asia Pacific will account for a 38.40% share of the global industry by 2022. This is owing to the rising consumption of poultry in countries such as Malaysia, Australia, India, and China. Moreover, the Middle East is projected to witness the highest share in the global industry during the forecast period. This is due to the high demand for poultry meat by 2030. As per the report published by the U.S. Department of Agriculture, the growing number of tourist in the region is also provide an opportunity for growth in the region.
