The poultry feed market is expected to increase from US$ 216.5 billion in 2023 to US$ 365.6 billion by 2033.
Increased Use of Online Food Delivery Channels is Contributing to the Growth of the Poultry Business
Farmers use fowl feed to feed domesticated birds and other fowl such as chickens, ducks, turkeys, and geese. Modern feed is made by carefully selecting and mixing components to give a highly nutritious diet that protects the health of poultry birds while also improving the quality of ultimate products such as meat and eggs. Water, minerals, vitamins, carbs, and proteins are all essential nutrients for hens’ growth, reproduction, maintenance, and overall health.
Rising Interest in Poultry Meat Products
The poultry sector is one of the significantly growing meat sectors. Therefore, improving poultry productivity is vital to feed the world’s expanding population. According to a survey, the World output of chicken meat in the Asia Pacific accounted for two-thirds of the increase in 2020. Moreover, poultry meat consumption in the United States is also expanding, as it is considered a convenient and readily available food.
Due to strong economic growth, demand for cattle products has increased in China and India. Factors such as population growth, disposal income growth, increasing boiler chicken feed, and changes in consumer dietary preferences are influencing global per capita consumption of poultry meat. These factors are expected to fuel the poultry feed market growth during the forecast period.
The key factor driving the industry is the rising demand for poultry meat products, increasing industrial livestock production, and growing organic feed.
Increased average income and consistent economic growth in emerging countries have resulted in a shift in consumer taste towards protein-rich diets, which has raised the demand for poultry meat.
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When poultry birds’ intake of carbs and fats is insufficient, protein is an essential source of energy. The demand for poultry feed is rising due to the shortage of anti-nutritional components such phytic acid and the effects of unrestricted feed intake on the digestive tracts of poultry birds.
The rise in population is a crucial factor that is anticipated to support the expansion of the global poultry feed market. Furthermore, due to their low cost and a shift in customer tastes towards white meat rather than red meat, consumption of poultry-based products has expanded dramatically globally.
Increased awareness of the value of protein in the diet can be partly blamed for the rising global per capita meat intake. Additionally, the Middle East, Africa, Asia Pacific, and these countries have increased their production and consumption of meat, which has supported market expansion.
An growth in consumer demand for poultry meat products is the main factor driving the poultry feed sector. An increase in the output of industrial livestock and the demand for organic feed are further market growth drivers.
Both income and population have a big impact on the demand for poultry products. As packaged poultry feed develops more swiftly than conventional chicken feed, the market is expected to rise.
Quality and price of the feed products have become two of the most crucial factors in this sector, and suppliers are crucial to the poultry feed industry. Chicken feed companies are projected to get more involved in the manufacture of raw materials in order to control pricing, which is likely to alter market purchasing procedures.
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Key Points from the Poultry Feed Market
- The requirement for nutritional feed to avoid poultry diseases, as well as farmers’ embrace of poultry farming as a source of income, is likely to drive the poultry feed market during the forecast period.
- The poultry feed market is expected to capture a CAGR of 5.4% during the forecast period 2023 to 2033.
- Asia Pacific dominated the poultry feed market.
Key Developments in the Poultry Feed Market
- In March 2019, DuPont de Nemours and Company introduced the chicken feed supplement SYNCRA to improve nutrient digestibility in poultry production.
- In September 2018, DSM N.V. and Novozymes released BALANCIUS, a feed enzyme that improves feed efficiency and digestibility in broilers while simultaneously increasing long-term product yield.
- In October 2019, Cargill developed a feeding intelligence platform that provides farmers with materials on the most recent intelligent animal production techniques, intending to assist farmers in navigating and improving their operations across all species, including poultry animals.
- In May 2018, Farmers introduced APOLLO, a new broiler feed brand, to broiler producers in the United Kingdom and Northwest Europe. The new feed line was designed to help modern broiler birds grow and stay healthy.
Poultry Feed Market by Key Segment
By Livestock:
- Layers
- Broilers
- Turkeys
By Nature:
- Conventional
- Organic
By Feed Type:
- Corn
- Wheat
- Barley
By Form:
- Granules
- Pellets
- Powder
By Regional:
- North America
- Europe
- Asia Pacific
- Central & South America
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