Newark, NJ, Aug. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global poultry feed market is expected to grow from USD 235.04 billion in 2020 to USD 313.11 billion by 2028, at a CAGR of 3.65% during the forecast period 2021-2028
Certain factors are boosting the growth of the global poultry feed market. Some of them include increasing poultry farming to cater to the rising demand for chicken eggs & meats globally, growing demand for poultry meat products, rising awareness about protein intake in daily diet services, and increasing number of poultries. Poultry feed mills, poultry houses (for egg and broiler production), and stockyards are currently growing in Eastern Africa and Western. However, the consumption of poultry-based products has grown at a significant rate across the globe, owing to their low cost and shifts of consumer preference towards white meat instead of red meat. Further, the lack of any religious implications on poultry meat associated with pork and beef drives the market's growth.
Poultry feed is a feed composed particularly for poultry animals. Poultry birds need energy for proper growth, egg production, and good health. Domestic birds grown for eggs, meat, manure & feathers are poultry. Turkey, geese, duck, and other birds are included in poultry. Poultry agriculture may obtain carried out unless as family poultry or as industrial poultry farming. The energy required for growth and other activities is derived primarily from fats and carbohydrates. Also, protein is a crucial energy source for poultry birds, mainly if carbohydrates and fats are inadequate. The poultry feed's nutritional and quantity requirements depend on their rate of growth, the weight and age of the poultry, and the rate of egg production.
The global poultry feed market is expected to witness significant growth due to the rising need for nutritional food. In addition, the increasing health awareness regarding the consumption of protein and per capita meat consumption is also likely to enhance the growth of the poultry feed. Growing investments in poultry feed are the potential to give significant impetus to the development of the market. An increase in demand for fast food and processed food and a rise in poultry exports from Asia-Pacific are expected to strengthen market growth further. The factors restraining the market growth are the volatility in raw material prices along with environmental concern and surge in prevalence of poultry diseases, like bird flu. The increasing demand and diminishing health risks while reducing antibiotics in feeds are challenges of the marketh. The rising global population and rising fast food and processed food demand are the opportunities for market growth.
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Key players operating in the poultry feed market include Cargill Inc, Charoen Pokphand Foods PCL (CPF), Land O'Lakes Inc., ForFarmers N.V., De Heus, Alltech Inc., Nutreco N.V., Kent Nutrition Group, Archer-Daniels-Midland Company (ADM), and Royal Agrifirm Group. To gain a significant market share in the global poultry feed market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Cargill Inc and Alltech Inc are vital manufacturers operating in the poultry feed market.
- For example, in March 2017, BIOMIN introduced a new feed additive Digestarom DC which mainly helps in enhancing feed efficiency and improving feed conversion ratio.
- For instance, in May 2018, Alltech launched a poultry feed additive named Viligen, containing a range of scientifically backed ingredients to promote gastrointestinal tissue growth & activity.
The broilers segment dominated the market and held the largest market share of 38.60% in 2020.
Based on livestock, the global poultry feed market is segmented into turkeys, layers, and broilers. The broilers segment dominated the market and held the largest market share of 38.60% in 2020. This growth is attributed to expanding demand for broiler food due to protein-rich content at a low price is triggering broiler farming growth.
The amino acids segment dominated the market and held the largest market share of 38.60% in 2020.
Based on additives, the global poultry feed market is segmented into amino acids, feed enzymes, antibiotics, feed acidifiers, and vitamins. The amino acids segment dominated the market and held the largest market share of 38.60% in 2020. This growth is attributed to the high protein content, which amino acid helps decrease the composition level of soybean meal in a monogastric animal's diet.
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Regional Segment Analysis of the Poultry Feed Market
- North America (U.S, Canada, Mexico)
- Europe (Germany, France, U.K, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- Latin America (Brazil, Argentina)
- The Middle East and Africa (South Africa, UAE, Saudi Arabia and the Rest of MEA)
Based on geography, the poultry feed market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Asia Pacific region held the largest market share of 28.17% in the year 2020. This growth is attributed to the easy availability of labor and agricultural land at affordable costs along with the growing population and disposable income of the people. On the other hand, the North American region is witnessing significant growth due to the increasing demand for quality products by their enhanced distribution channels.
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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 segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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