Poultry Feed Market Size To Surpass US$ 264.6 Billion By 203...| MENAFN.COM

Tuesday, 17 May 2022 07:59 GMT

Poultry Feed Market Size To Surpass US$ 264.6 Billion By 2030


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Tokyo, May 10, 2022 (GLOBE NEWSWIRE) -- The global poultry feed market size was valued at US$ 185.67 billion in 2021 . The poultry chicken is considered one of the most cost-effective sources of protein, and as a result, demand for poultry products such as eggs and meat continues to rise. According to the U.S. Department of Agriculture, global chicken meat production is expected to exceed 97.8 million tons in 2019, up 2% from 2018. Because of favorable government rules, the market for chicken feed is also expanding. The integration of insect protein in poultry feed will have a high demand for poultry feed by 2019, implying that the global poultry feed industry would rise. In February 2018, the European Commission's Commissioner for Health and Food Safety approved the use of insect protein in chicken feed.

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Regional Snapshot

North America is the largest segment for poultry feed market in terms of region.The U.S. is dominating the poultry feed market in the North America region. Growing government efforts, severe government regulations, and substantial government spending are driving the North American chicken feed business. Due to increased broiler production in the region and customers' preference for chicken products due to their cheaper prices when compared to other options, the poultry feed market in North America is predicted to grow.

Asia-Pacific region is the fastest growing region in the poultry feed market.China and India hold the highest market share in the Asia-Pacificpoultry feed market. The Asia-Pacific poultry feed industry is being driven by rising feed output in emerging regions. In 2019, the poultry sector contributes for around 70% to 75% of India's commercial feed business. In the country, over 39 million metric tons of commercial feed were produced. In 2019, poultry feed accounts for around 24.9 million metric tons of feed production in the country.

Scope of the Report

Report Attributes Details
Market Size in 2020 USD 185.67 Billion
Revenue Forecast By 2028 USD 244.57 Billion
Asia Pacific Market Share in 2021 40% in 2021
Broilers Segment Market Share 70% in 2021
Companies Covered Chicken Pokphand Foods PCL, Cargill Inc., Archer Daniels Midland, Alltech Inc., De Heus B.V., Land O'Lakes Inc., ForFarmers N.V., Nutreco N.V., NEOVIA Group, BASF SE

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Report Highlights

  • On the basis of livestock, broilers segment holds the largest market share in the global poultry feed market. The increased demand for chicken meat due to its high protein content has emerged as a major driver of segment expansion. Broilers are meat producing chickens. Broiler farming is expanding as a result of rising demand for chicken meat, which has a high protein content and is relatively inexpensive. One of the most crucial aspects of broiler production is proper nutrition.
  • On the basis of additive, amino acid segment holds the largest market share in the global poultry feed market. As one of the most essential sources of protein, the amino acid is extremely essential in poultry nutrition. The amino acid reduces the amount of soybean meal in animal's diet because of its high nutritional benefits.

Market Dynamics

Drivers

Surge in demand for poultry meat products

The growing consumption of poultry meat products such as eggs and chicken are driving the market growth. The global per capita consumption of poultry meat climbed from 13.86 in 2017 to 13.92 in 2020, as per the Organization for Economic Co-operation and Development Agricultural Outlook, 2020. As a result, surge in demand for poultry meat products is boosting the growth of global poultry feed market.

Restraints

High cost of raw materials

In the post COVID-19 period, the cost of poultry feed has risen dramatically. The cost of raw materials used in the production of chicken feed, such as maize, soya meal, and rice bran oil has surged significantly. Not all farmers can afford to buy such high-priced raw materials. As a result, high cost of raw materials is restricting the growth of global poultry feed market over the forecast period.

Opportunities

Growing poultry production

The production of poultry animals and birds has increased on a large scale. Between 1961 and 2019, global poultry meat output climbed from 9 to 132 million tons, while egg production increased from 15 to 90 million tons, as per the U.S. Food and Agriculture Organization. The increased production of chicken encourages the usage of high quality of poultry feed. Thus, growing poultry production is creating lucrative opportunities for the growth of global poultry feed market.

Challenges

Ban on antibiotics in poultry feed

In order to protect the drug's efficacy in people, the government all over the world has banned the manufacture, sale, and distribution of antibiotic Colistin and related compositions for food producing animals, aqua farming, poultry, and animal feed supplements. As per the ministry official, the antibiotic is being used as a last resort to treat animals. Thus, ban on antibiotics in poultry feed is the biggest challenge for expansion of global poultry feed market.

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Recent Developments

  • Broiler producers in the northwest Europe and the UK were launched to APOLLO, a new broiler feed brand, by ForFarmers in May 2018. The new feed line was developed to help modern broiler birds grow and stay healthy.
  • BALANCIUS, a feed enzyme developed by DSM N.V. and Novozymes, tends to increase feed efficiency and digestibility in broilers while also improving long term product yield.

Market Segmentation

By Livestock

  • Layers
  • Broilers
  • Turkey
  • Others

By Additives

  • Antibiotics
  • Vitamins
  • Antioxidants
  • Amino Acid
  • Feed Enzymes
  • Feed Acidifiers
  • Others

By Form

  • Mashed
  • Pellets
  • Crumbles
  • Others

By Nature

  • Conventional
  • Organic

By Distribution Channel

  • Offline
  • Online

By Ingredient

  • Cereal
  • Oilseed Meal
  • Molasses
  • Fish Oil and Fish Meal
  • Supplements
  • Other Ingredients

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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