( PR4US.com | Press Release | 2017-11-03 20:36:12 )
Mumbai, India – November 03, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Poultry Processing Market in India 2017’ https://www.researchonindia.com/poultry-processing-market-in-india-2017.html
. Favorable government initiatives and increased spending on processed meat, has boosted the poultry processing market in India.
India is the second-largest egg and third-largest broiler chicken producer in the world. In terms of volume, India is emerging as the world's second largest poultry market with an annual growth of more than 14%. Factors such as such as rising income, increasing affordability and government support are to be attributed for this remarkable growth.
According to Netscribes
research, the poultry processing industry in India is expected to grow at a CAGR of 11.5% until FY 2022 to reach a value of INR 96.2 billion.
Download our latest research report Poultry processing Market in India 2017 for a complete overview of the poultry processing market, including trade analysis, growth drivers, competitive landscape, and more.
Key growth factors
With the increase in the number of quick-service restaurants such as KFC, McDonald’s, Pizza Hut, and Dominos, the demand for processed meat has skyrocketed in India. Also, easy availability and accessibility of processed meat in urban areas is an important factor contributing to the growth of the poultry processing market in India.
The per capita disposable income in India is increasing steadily and has resulted in an increased demand for processed meat. Government initiatives such as 100% FDI and tailored GST are boosting the growth of the poultry processing market in India.
Threats and key players
The lack of advanced technologies, such as temperature-controlled storage, processing equipment, and gaps in supply chain management are hampering the productivity of India’s processed meat sector.
The poultry industry is faced with social unacceptance in some regions and environmental problems, such as handling and disposal of large amounts of litter. Despite the increasing disposable income of Indians, the higher price of processed poultry meat acts as a deterrent to increased adoption in some cases.
There is aggressive competition among the well-established players such as Venky’s Ltd, Suguna Foods Pvt. Ltd., Godrej Tyson Foods Ltd., and Skylark Foods Pvt. Ltd. Most players need to constantly introduce unique variants to differentiate themselves and gain a competitive advantage.
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