Newark, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 121.3 billion poultry feed market will reach USD 236.3 billion by 2033. Farmers use poultry feed to feed domestic birds like geese, ducks, turkeys, and chickens. To provide poultry birds with a highly nutritious food that preserves their health and enhances the quality of byproducts like meat and eggs, modern feed is prepared by carefully choosing and combining ingredients. The key nutrients poultry birds need for growth, reproduction, upkeep, and health include minerals, vitamins, carbohydrates, proteins, and water. Lipids and carbohydrates supply most of the energy needed for growth. Moreover, poultry birds require protein as a major energy source, particularly if they consume little fat and carbohydrates. The demand for poultry feed is rising due to the absence of anti-nutritional components such as phytic acid and the impact of unrestricted feed intake on the digestive systems of poultry birds. One of the key factors that propel the expansion of the global poultry feed market is the increase in population worldwide. Furthermore, due to their low cost and a shift in consumer preferences towards white meat rather than red meat, the consumption of poultry-based products has expanded dramatically worldwide.
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Key Insights on Poultry Feed Market
Asia Pacific will account for the largest market size during the forecast period.
The Asia Pacific region is expected to experience the quickest market expansion due to its large population and rising disposable incomes. Over the past 20 years, the poultry industries in China and India have grown rapidly in terms of the quantity of birds raised and their average productivity. The expansion of intensive systems with high food conversion ratios is linked to higher production levels. Similarly, the country's growing need for high-quality chicken products, expanding quick-service restaurant chains, and rising per capita income have all had a major impact on the country's growing demand for poultry feed. It is expected to expedite the nation's future sales of poultry feed. As a result, growing economies in the Asia-Pacific region, including China and India, continue to have a high need for poultry feed. It causes a bigger number of chickens to consume more high-quality feed. Additionally, the output of chicken meat is increasing worldwide, with Asia-Pacific accounting for two-thirds of this growth.
The complete feed segment dominated the market with the most significant revenue of USD 50.9 billion.
The complete feed segment dominated the market with the most significant revenue of USD 50.9 billion. Complete feed contributes to constant growth and performance in birds by providing a consistent nutritional composition. Poultry farmers can often achieve cost-effective solutions and lower the risk of nutritional imbalances by outsourcing the formulation and production of full feed to specialised manufacturers. These products support sustainable poultry farming techniques while providing poultry farmers with convenience, nutritional balance, and consistency.
The broiler segment dominated the market with the most significant revenue of USD 33.9 billion.
The broiler segment dominated the market with the most significant revenue of USD 33.9 billion. As they are raised expressly to produce meat, broilers play a vital role in the chicken meat market. Grill farming has been fueled by the rising demand for chicken meat, which is prized for its high protein content and affordability. Proper nutrition plays a crucial role in the effective production of broilers, as ensuring the optimum dietary intake is essential.
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Market Dynamics:
Drivers: Rising demand for poultry products
One of the agricultural industries with the quickest growth rates is poultry. Over the past 20 years, modern intensive production methods, genetic advancements, enhanced biosecurity and disease prevention measures, rising affluence and population, and urbanisation have all contributed to substantial structural changes in the chicken industry. This has also increased the demand for poultry products, expected to drive the market's growth.
Restraint: Regulatory restrictions on antibiotic
Due to the long history of using antibiotics in poultry feed, the industry is becoming increasingly concerned about antibiotic resistance. Poultry producers need help to comply with regulatory limits on the use of antibiotics. Stricter laws governing the care and housing of chickens have resulted from growing public awareness of animal welfare issues. Production expenses may rise to comply with these rules. There are many suppliers and manufacturers in the fiercely competitive chicken feed business. Price wars and shrinking profit margins are two outcomes of competition. Poultry feed companies may struggle to help comply with changing safety regulations and standards. Operating costs are increased by the need to comply with complex rules.
Some of the major players operating in the poultry feed market are:
● Berkshire Hathaway Inc.
● John Bean Technologies Corporation (JBT)
● GEA Group
● NICHIMO CO., LTD.
● Tetra Laval International S.A.
● Anko Food Machine Co. Ltd.
● Bucher Industries
● Hosokawa Micron Corp.
● Mallet & Company, Inc.
● SPX Corporation
Key Segments covered in the market:
By Product:
● Concentrated Feed
● Premix Feed
● Complete Feed
By Application:
● Chicken
● Broiler
● Ducks
● Geese
● Others
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About the report:
The global poultry feed market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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