The poultry feed market is expected to increase from USD 216.5 billion in 2023 to USD 365.6 billion by 2033.
The poultry industry stands out as one of the fastest-growing segments within the global meat sector. Enhancing poultry productivity is crucial to meeting the demands of the world’s increasing population. A survey reveals that in 2020, the Asia Pacific region contributed to two-thirds of the global growth in chicken meat production.
In the United States, poultry meat consumption continues to rise, driven by its convenience and widespread availability.
Meanwhile, strong economic growth in countries like China and India has fueled demand for cattle products. Key factors such as population growth, rising disposable incomes, increased production of broiler chicken feed, and evolving consumer dietary preferences are shaping global poultry meat consumption trends. These dynamics are anticipated to drive significant growth in the poultry feed market during the forecast period.
Increased Use of Online Food Delivery Channels is Contributing to the Growth of the Poultry Business
Farmers feed poultry birds such as ducks, turkeys, chickens, geese, and other domestic birds with poultry feed. Modern feed is created by carefully selecting and combining ingredients to provide a high nutritional diet that maintains the health of poultry birds while also boosting the quality of end products such as meat and eggs. The primary ingredients required by poultry birds for development, reproduction, maintenance, and health include minerals, vitamins, carbohydrates, proteins, and water.
Protein is a vital source of energy for chicken birds, particularly when carbohydrate and fat intake is low. The lack of anti-nutritional substances such as phytic acid, as well as the effect of unrestricted feed intake on the digestive tract of poultry birds, are driving up demand for poultry feed.
The rise in the global population is a critical factor that is likely to fuel the growth of the global poultry feed market. Furthermore, due to their low cost and a movement in customer taste towards white meat rather than red meat, consumption of poultry-based products has expanded dramatically around the world.
Improved awareness of protein intake in daily diet is an important factor in growing global per capita meat consumption. Additionally, rapid economic growth in the Asia Pacific and the Middle East and Africa countries has increased meat production and consumption in these regions, propelling market growth.
The fundamental driver of the poultry feed industry is an increase in demand for poultry meat products. Additional factors driving market growth include increasing industrial livestock production and growing demand for organic feed.
Population and income have a considerable impact on poultry product demand. Packaged poultry feed is expected to evolve more quickly than traditional chicken feed, offering new opportunities for industry participants.
Feed product quality and cost have emerged as two of the most important elements in this market, and suppliers are playing an essential role in the poultry feed business. To keep prices under control, chicken feed businesses are anticipated to increase their involvement in raw material production, which is expected to change market buying processes.
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
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube