Westford, USA, July 24, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global poultry feed market has seen a notable trend of increasing utilization of feed additives in recent times. This trend involves the incorporation of various additives, including vitamins, minerals, enzymes, and pro and prebiotics, into poultry feed formulations. These additives have become popular among farmers as they offer several advantages in enhancing the overall feed conversion rate (FCR) performance of poultry.
Browse in-depth TOC on the "Poultry Feed Market"
- Pages - 265
- Tables - 89
- Figures – 76
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The growing global population is a significant driver in the continuous growth of the poultry feed market. As the world's population continues to expand, there is a corresponding increase in the demand for meat products, particularly poultry meat. There is a need to expand meat production capacity and supply To meet the growing demand for poultry meat.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 125.63 Billion |
| 2030 Value Projection | USD 217.7 Billion |
| CAGR | 6.3% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Poultry Feed Market
- Cargill, Incorporated
- Archer Daniels Midland Company
- Nutreco N.V.
- Tyson Foods, Inc.
- Alltech, Inc.
- Charoen Pokphand Foods Public Company Limited
- New Hope Group Co., Ltd.
- Guangdong Haid Group Co. Ltd.
- ForFarmers N.V.
- Evonik Industries AG
- BASF SE
- Land O'Lakes Inc.
- Hi-Pro Feeds LP
- Kent Nutrition Group, Inc.
- Purina Animal Nutrition LLC
- Guangzhou Guangdong Feed Group Co. Ltd.
- Guangdong Wens Foodstuff Group Co. Ltd.
- Guangxi Yangxiang Co. Ltd.
- Guangdong Wen's Foodstuff Group Co., Ltd.
- Beijing Dabeinong Technology Group Co. Ltd.
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Broilers Segment is Expected to Grow in the Market Due to Increasing Demand for Chicken Meat
The broilers segment accounted for the largest market share of approximately 38.60% in the global poultry feed market. The significant growth of this segment can be attributed to the increasing demand for chicken meat, which has become a popular choice among consumers due to its high nutritional content.
The markets in the North America play a significant role in the global poultry feed market. The poultry feed industry in this region is well-developed and substantially impacts both domestic and international markets.
Complete Feed Segment is Expected to Dominate the Market Due to its Advantageous Features
Complete feed segment has emerged as the leading contributor to the global poultry feed market, commanding the largest market share. It is projected to maintain its dominance throughout the forecast period. This segment's supremacy can be attributed to its advantageous features, particularly the cost-effectiveness and positive impact on the overall nutrition of poultry birds.
Regional markets in the Asia Pacific dominated the global poultry feed market, holding the largest market share of approximately 28.17%. This dominant position is expected to continue throughout the forecast period as the region undergoes significant socio-economic changes.
A comprehensive analysis of the major players in the poultry feed market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Poultry Feed Market
- Cargill Inc. and Continental Grains made a significant move by jointly acquiring Sanderson Farms, a privately-owned poultry business in 2022. This strategic acquisition positions the companies to offer an enhanced customer experience backed by a commitment to delivering high-quality poultry products to their clientele. By joining forces, Cargill Inc. and Continental Grains aim to leverage their collective expertise and resources to strengthen their market position and expand their poultry industry presence.
- BASF and Cargill recently solidified their partnership by adding new dimensions to their collaboration. They introduced research and development capabilities and plans to explore new markets for the distribution of feed enzymes. The primary objective of this partnership extension is to offer farmers innovative feed solutions that can improve feed efficiency, promote healthier animal growth, and minimize nutrient waste.
Key Questions Answered in Poultry Feed Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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