India: Meat Market 2024

Meat Market Size in India

The Indian meat market contracted slightly to $X in 2022, dropping by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Meat Production in India

In value terms, meat production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of meat in India dropped slightly to X kg per head in 2022, with a decrease of X% on the previous year. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the average meat yield hit record highs at X kg per head in 2014; however, from 2015 to 2022, the yield failed to regain momentum.

In 2022, number of animals slaughtered for meat production in India fell slightly to X heads, almost unchanged from the year before. Overall, the number of producing animals, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the number of producing animals increased by X%. Over the period under review, this number hit record highs at X heads in 2019; however, from 2020 to 2022, producing animals stood at a somewhat lower figure.

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Meat Exports

Exports from India

In 2022, shipments abroad of meat increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, meat exports dropped to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X tons), Malaysia (X tons) and Vietnam (X tons) were the main destinations of meat exports from India, with a combined X% share of total exports. Indonesia, Iraq, Saudi Arabia, the United Arab Emirates, the Philippines, Jordan and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Egypt ($X) and Vietnam ($X) appeared to be the largest markets for meat exported from India worldwide, together accounting for X% of total exports. Indonesia, Iraq, Saudi Arabia, the United Arab Emirates, the Philippines, Jordan and Thailand lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average meat export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into India

In 2022, purchases abroad of meat increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed noticeable growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, meat imports surged to $X in 2022. In general, imports saw a resilient expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest meat supplier to India, accounting for a X% share of total imports. Moreover, meat imports from Belgium exceeded the figures recorded by the second-largest supplier, Oman (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (X% per year) and the United Arab Emirates (X% per year).

In value terms, the largest meat suppliers to India were Belgium ($X), New Zealand ($X) and the United Arab Emirates ($X), together comprising X% of total imports. Spain, Kuwait, Brazil, Oman, Bahrain and Jordan lagged somewhat behind, together accounting for a further X%.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average meat import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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