Vetphage has shown a promising potential in the first few years of its operations. Having recorded 175% revenue increase in the first 6 months of 2020 despite the general countrywide lockdown, the company is forecasting more than 200% growth in H2 of 2020 compared to H1. “Since poultry producers are switching over to safer and efficient feed additives, we expect to see substantial growth in our sales volume and market share. A bulk of the growth is likely to accrue from the South and West markets, with sizable contributions from the North, Central and Eastern Indian regions. We expect 40% growth in revenue in the Southern region comprising AP, Karnataka, TN, Kerala, Telangana, and a 20% growth in the Western region, comprising Maharashtra and Gujarat '' said Dr Ramdas Kambale, Director of Proteon Pharmaceuticals India.
Indian Poultry market is currently valued at Rs. 10,000 crores and growing annually with a compounded growth rate of 10 percent, which is among the highest in the world.
“Proteon strives to capture the Indian market under one global brand. It’ll bring savings that we will translate to even better support our customers” said Mr. Nipun Gupta, Chief Commercial Officer at Proteon Pharmaceuticals S.A. The new approach of poultry integrators is fostering growth in the retail segment, which includes integrator owned or franchised frozen poultry shops, home delivery of frozen poultry products and sales counters in existing establishments. However, this organized sector is expected to only grow post-COVID. India is also experiencing rapid urbanization, reflecting the drift to an increasingly urban lifestyle, the 10 major cities in the country account for over 60 percent of all poultry meat consumption. There has been a gradual shift in eating habits, with the well-informed younger generation with disposable incomes increasingly adopting non-vegetarian diets. “The market is ready to grow and farmers need to make use of all the technology they can to increase production and minimize losses” added Mr. Gupta.