Increasing demand for meat products supports the growth of the market.
The global poultry feed market was valued at USD 160 billion in 2018, growing at a CAGR of 4.3% over the forecast period. The poultry sector is one of the fastest-growing sectors owing to the increase in poultry meat consumption. Increasing the productivity of poultry is vital to feeding the rising global population. However, rising feed prices are acting as a restraint on the poultry feed market. Global poultry meat production is growing, with two-thirds of the increase in the Asia-Pacific region.
The United States consumption of poultry meat is also increasing because it is considered a convenient product and is easily available in the market. Poultry that is completely raised needs a decent amount of supplements in their diet for the greatest development and wellbeing. The various kinds of supplements essential for poultry wellbeing are amino acids, roughage protein, unsaturated fats, nutrients, and minerals. The measure of sustenance required by feathered creatures fluctuates as indicated by species, age, and the motivation behind raising them, for example, for meat or eggs. Modernly, the definition of poultry feed incorporates segments that are managed by administrative bodies around the world. Corn is commonly utilized in poultry feed as a vitality hotspot for poultry.
The worldwide poultry feed showcase is anticipated to develop at a critical development pace of 4.61% from 2019 to 2024 and arrive at a market estimation of USD 8.7 billion before the end of 2024. Overall, poultry meat and egg production has increased consistently over the years, and this trend is expected to continue, driving the development of the global poultry feed industry. Furthermore, the growing number of incidents associated with poultry production is prompting increased concern for sanitation and clean marks, which is legitimately influencing poultry feed deals all over the world.
Market Synopsis
Increasing Demand for Poultry Meat Products Supports the Growth of the Market
The amino acid segment grew to be the most profitable segment in 2018 and is expected to grow at an astounding rate in the coming years. Amino acid is regarded as one of the most important sources of protein and, as such, is extremely important in poultry nutrition. Because of their high protein content, amino acids lessen the importance of soybeans in the diet of a monogastric creature. Ethoxyquin is one of the most widely utilized manufactured cancer prevention agents.
It is also one of the least expensive cancer prevention agents and has high additive abilities, which is why it is used in canned pet food. However, interest in such a cancer prevention agent has dwindled in recent years as a result of negative purchaser observations and symptoms related to engineered cell reinforcements.
Regional Analysis
Asia Pacific is projected to grow at a considerable rate during the forecast period.
In 2018, Asia Pacific was the largest region for the poultry feed market. As the population grows, so does the demand for food to meet the population's hunger needs. The government in the Asia-Pacific region is implementing some or other initiatives to meet the rising demand for meat-based products.
As a result, the market's demand rises. According to the FAO, yearly meat consumption in China is forecasted to rise from about 50 kg per capita today to approximately 70 kg per capita by the year 2030. Moreover, rapid urbanization and a rise in disposable income in the region are expected to be the major drivers of the poultry feed market.
List of Companies Covered:
Alltech Inc.
Novus International, Inc.
BASS
Kent Nutrition Group, Inc.
Evonik Industries
Royal DSM N.V.
Cargill Inc.
Tyson Foods, Inc.
ADM Animal Nutrition
Hi-Pro Feeds, Inc.
J.D. Heiskell & Co.
Key Industry Developments
In April 2019, the government of India permitted the import of 100,000 metric tonnes of feed-grade maize. The poultry industry, which uses maize as feed, is worried about the steep spurt in maize prices. The minimum support price of $1,700 per quintal of maize increased by about 30%, harming the poultry industry's bottom line.
Periods of History and Forecast
This study report includes an analysis of each segment from 2017 to 2027, with 2018 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2019 to 2027.
Market Segmentation
The current report also includes qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to provide a complete picture of the overall poultry feed market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.
Key questions are answered in this report.
What are the current market trends and dynamics in the poultry feed market, and what are the valuable opportunities for emerging players?
What is driving the poultry feed market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low- and middle-income economies investing in the poultry feed market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?
Frequently Asked Question:
The market for Poultry Feed Market is expected to reach USD$ 160 billion in 2027.
The Poultry Feed Market is expected to see significant CAGR growth over the coming years, at 4.3%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Alltech Inc.,Novus International, Inc.,BASS,Kent Nutrition Group, Inc.,Evonik Industries,Royal DSM N.V.are some of the major players in the global market.
