Poultry Feed Market Outlook
The global poultry market size industry, which raises poultry for various purposes, requires a well-balanced array of nutrients in their diet to ensure optimal growth and good health. Essential nutrients for poultry health include amino acids, crude protein, fatty acids, vitamins, and minerals. The nutritional requirements of birds vary based on species, age, and the purpose of raising, whether for meat or eggs. The commercial formulation of poultry feed is subject to regulations imposed by governing bodies worldwide, and corn is commonly used as an energy source in poultry feed.
The poultry feed market is expected to witness significant growth, projecting a substantial 6.4% growth rate from 2022 to 2030, reaching a market value of USD 218 billion by the end of 2030. The global production of poultry meat and eggs has consistently increased over the years, and this upward trend is anticipated to persist, thereby propelling the expansion of the global poultry feed market.
Drivers: The increasing demand for organic meat serves as a driving force behind the market’s growth. Concerns about food and meat safety have led to a surge in the demand for premium chicken feed. Additionally, heightened awareness among farm owners regarding the importance of maintaining a healthy animal diet contributes to market growth. A shift from standard chicken feed to functional and premium varieties is observed to enhance animals’ resilience to diseases, reducing the risk of metabolic issues, acidosis, injuries, and infections.
Opportunities: Technological advances in feed manufacturing present robust opportunities for the poultry feed market. Innovations like pelletizing, extrusion, and precision feeding have improved the quality and nutritional value of chicken feed. Poultry can achieve better overall performance and nutrient absorption through these technological developments, fostering the demand for specialized chicken feed products.
Restraints and Challenges: The high cost of raw materials, regulatory bans, a rise in the vegan population, and increased restrictions pose challenges and may act as restraints on the market over the forecast period.
Market Segmentation: The global poultry feed market is segmented based on source, type, and form.
By Source: Micro-ingredients, animal proteins, vegetable proteins, coarse grains, and others.
By Type: Dual purpose, broilers, and layers.
By Form: Scratch grain, crumbles, pellets, mash, and others.
COVID-19 Analysis: The initial phases of the COVID-19 pandemic and the associated containment measures led to the closure of chicken feed businesses globally, resulting in feed shortages for the agricultural community. Disruptions in the logistical network had a severe impact on the supply of chicken feed internationally. However, as the population and economy continue to grow, the consumption of poultry products is expected to rebound. Packaged poultry feed is anticipated to outpace traditional chicken feed in growth, creating additional opportunities for market participants.
Regional Analysis: Asia-Pacific (APAC) is expected to lead the poultry feed market, with the largest market share. The region’s massive population and rising standard of living contribute to significant market development. Over the past two decades, the poultry industry in China and India has experienced substantial growth in terms of both the quantity of chicken produced and the productivity per bird. The expansion of intensive systems with high food conversion ratios is linked to higher output levels.
Key Players: Prominent industry players in the poultry feed market include Alltech, Kemin Industries, Cargill, Novozymes, and Chr. Hansen. Other notable players include BASF SE, Archer Daniels Midland Company, and Evonik Industries, collectively contributing to the dynamic landscape of the global poultry feed market.
Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Poultry Feed Market : https://www.marketresearchfuture.com/reports/global-poultry-feed-market-1290
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