According to TechSci Research report, “India Poultry and Hatchery Market, By Type, By Sales Channel, Competition, Forecast and Opportunities, 2014 – 2024”, Indiapoultry and hatcherymarket 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 productsalong withsurging 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 toincreased consumption of meat products. This factor is anticipated to fuel growth in India poultry and hatcherymarket during forecast period.
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Traditional/modern retail stores segment dominatesIndia poultry and hatcherymarket 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.