DUBAI, United Arab Emirates, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The global market value for global poultry feed grew at a CAGR of roughly 3.5% over the last half-decade and is currently valued at US$ 111.3 Billion for the year 2022. According to a recent report by Future Market Insights, a market research and competitive intelligence provider, the global poultry feed market is expected to reach a market valuation of US$ 225.7 Billion by the year 2032, accelerating with a CAGR of 5.5% by 2022-2032.
As the world population continues to grow, the demand for poultry products is expected to rise. The increasing popularity of poultry meat and eggs as healthy protein sources is driving the growth of the market.
In addition, rising disposable incomes in developing countries are providing a boost to the market. Consumers in these countries are increasingly able to afford chicken and eggs, which has led to a shift in dietary preferences away from plant-based proteins toward animal-based proteins. This trend is providing opportunities for feed manufacturers to expand their operations in developing countries.
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The use of genetically modified organisms (GMOs) in poultry feed is also expected to drive growth in the market. GMOs can improve feed efficiency and help producers reduce costs.
Key Takeaways from Market Study
- Future Market Insights (FMI) forecasts the poultry feed market to surpass US$183.62 Bn in 2020
- Elevated levels of poultry feed and nutrition will be required in high potential countries of Asia, particularly to meet the burgeoning demand for poultry products among consumers
- According to FMI, East and South Asia will collectively exhibit a 1.5 times higher rate of growth than the rest of the world
- Implementing the latest technologies such as Nutrigenomics to help animals reach their genetic potential is one of the key strategies adopted by market players
There is a paradigm shift in various countries towards monogastric production, with poultry and pigs accounting for the dominant percentage. This has led to the elevated demand for poultry feed to support the growing population,” says a lead analyst at Future Market Insights.
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Competitive Landscape
The poultry feed industry has been growing in recent years as demand for poultry products has increased. This is good news for the industry, as it provides a strong foundation for continued growth. In particular, the branded feed market is growing at a fast pace. This is due in part to the fact that consumers are becoming more educated about the importance of quality feed and are looking for brands they can trust.
This trend is being driven by several factors, including the increasing popularity of organic and free-range poultry products. Consumers are looking for ways to reduce their exposure to harmful chemicals, and they believe that better-quality feed leads to healthier animals. They also appreciate the fact that branded feeds often come with guarantees of quality and safety.
As the poultry feed industry continues to grow, we can expect to see even more innovation in this space. Feed companies are the lifeblood of the poultry industry. Many different types of feed are used in poultry production, but the most common are corn, soybean meal, and rice. A wide variety of ingredients are blended with these basic ingredients to make specialized poultry feeds.
The three largest feed companies in the world are ADM, Cargill, and Bunge. They control a large percentage of the market for poultry feed. These companies have a global presence and supply poultry feed to producers all over the world.
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Future Market Insights, in its new offering, provides an unbiased analysis of Poultry Feed presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Poultry Feed based on Product Type (Layers, Broilers, Turkeys), Feed Type (Corn, Wheat, Barley Others), Distribution Channel (Supermarkets, Convenience Stores, Specialty Food Stores), Nature (Organic and Conventional), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Poultry Feed Market by Category
By Livestock:
- Layers
- Broilers
- Turkeys
By Nature:
- Conventional
- Organic
By Feed Type:
- Corn
- Wheat
- Barley
By Form:
- Granules
- Pellets
- Powder
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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