London, April 03, 2024 (GLOBE NEWSWIRE) -- Global poultry feed market is poised to experience significant rise, reaching a valuation of US$288.8 Bn in 2030, Revealing a notable increase from the US$186.8 Bn in 2022. This growth is driven by an estimated CAGR of 5.6% during the forecast period from 2023 to 2030.
The poultry feed market is a crucial component of the broader animal feed industry, focusing specifically on formulating and supplying feed for poultry species such as chickens, turkeys, ducks, and geese.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$186.8 Bn | |
| Estimated Market Size in 2030 | US$288.8 Bn | |
| CAGR | 5.6% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The global poultry feed market size and growth trajectory are influenced by various factors such as population growth, increasing demand for poultry products, urbanization, dietary shifts toward protein-rich diets, changing dietary preferences.
The demand for poultry products is rising in direct proportion to the expanding world population. Poultry meat and eggs provide a reasonably priced and easily available choice as more people need sources of protein. More people are residing in cities and other urban regions due to urbanisation tendencies, where poultry products are easily accessible. This change in lifestyles increases the need for prepared and handy chicken products, which fuels the demand for poultry feed.
The expansion of the poultry industry, particularly in emerging markets, contributes significantly to the growth of the poultry feed market. Increasing investment in poultry farming infrastructure, modernization of production systems, and adoption of commercial poultry farming practices drive the demand for quality feed to support higher production levels and improve productivity.
The poultry feed market varies by region, with different countries and regions having distinct preferences, production practices, and regulatory environments Market players continuously innovate to develop new formulations, improve feed efficiency, and address emerging challenges related to sustainability, animal welfare, and food safety.
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Key Research Insights
- The layers category is expected to grow significantly in the forecast period.
- The broilers category dominated the industry.
- Asia Pacific is expected to dominate the poultry feed market during the forthcoming years.
- North America is expected to be the significantly growing poultry feed market region.
Insights into Segmentation Analysis
Amino Acid Segment Leads while Vitamins Grow Exceptionally
- The amino acid is one of the most significant sources of protein and is therefore, crucial to the nutrition of poultry.
- A particular ratio of amino acids is necessary for the growth of poultry.
- The amino acid profile of feeds is fine-tuned with amino acids to make sure that all necessary amino acids are present in the proper ratios for the best growth and performance.
Broilers Category Stands at Prime Position
- The broilers segment dominated the market in 2022 due to the growing demand for chicken meat.
- Growing broiler farming is being driven by rising demand for chicken meat because of its availability at low cost and high protein content.
- One of the key aspects of raising broilers is providing proper nutrition.
- For proper nutrition, the grill needs a source of energy - 13 vitamins, one vital fatty acid, 13 amino acids, and 14-16 minerals.
Key Report Highlights
- This heightened demand for poultry products, including meat and eggs, directly stimulates the demand for poultry feed.
- Poultry producers must follow stringent safety processes in order to comply with government agencies' severe food safety rules and requirements.
- Efficiency gains in feed conversion ratios (FCR) and feed utilization are critical for improving the profitability and sustainability of poultry production.
Insights into Regional Analysis
North America Continues be the Largest Market for Poultry Feed
- North America is one of the largest markets for poultry feed, driven by a well-established poultry industry and high consumption of poultry products.
- The growing and processing of chicken is done by around thirty-five (federally inspected) companies in the United States.
- There is a persistent and expanding demand for poultry products, which is pushing the need for high-quality poultry feed as consumer preferences shift towards healthier protein sources.
- Increasing demand for specialty and organic poultry feed, technological advancements in feed formulation, and a focus on antibiotic reduction and animal welfare are key trends in the region
- Increasing demand for specialty and organic poultry feed, technological advancements in feed formulation, and a focus on antibiotic reduction and animal welfare are key trends in the region.
Key Companies Profiled in the Global Poultry Feed Market
- Cargill Inc.
- Alltech, Inc.
- Archer Daniels Midland
- De Heus B.V.
- BASF SE
- Charoen Pokphand Foods PCL
- Anko Food Machine Co. Ltd.
- Berkshire Hathaway Inc.
- Hosokawa Micron Corp.
- Tetra Laval International S.A.
- Mallet & Company, Inc.
- Bucher Industries
- NICHIMO CO., LTD.
- SPX Corporation
- New Hope Group
Global Poultry Feed Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Additive Coverage , By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/poultry-feed-market
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