The poultry feed market is expected to increase from US$ 216.5 billion in 2023 to US$ 365.6 billion by 2033.
Increased Use of Online Food Delivery Channels is Contributing to the Growth of the Poultry Business
Farmers use poultry feed to feed domestic birds and other fowl, including ducks, turkeys, chickens, and geese. In order to provide a high nutritional diet that maintains the health of poultry birds and improves the quality of end products like meat and eggs, modern feed is made by carefully choosing and combining ingredients. For growth, reproduction, maintenance, and health, poultry birds primarily need minerals, vitamins, carbohydrates, proteins, and water.
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For chicken birds, protein is a crucial source of energy, especially when their consumption of carbohydrates and fats is inadequate. The lack of anti-nutritional elements like phytic acid and the impact of unrestricted feed intake on poultry birds’ digestive systems are increasing demand for poultry feed.
A significant aspect that is predicted to contribute to the growth of the global poultry feed industry is the increase in population. Furthermore, consumption of poultry-based products has increased significantly worldwide due to their low cost and a shift in consumer preferences towards white meat rather than red meat.
Growing global per capita meat consumption can be attributed in large part to increased understanding of the importance of protein in the diet. Additionally, the production and consumption of meat have expanded in the Middle East, Africa, Asia Pacific, and these nations, which has fueled market expansion.
An growth in consumer demand for poultry meat products is the primary driver of the poultry feed industry. Increasing industrial livestock production and rising demand for organic feed are further market growth drivers.
Demand for poultry products is significantly impacted by population and income. The sector is projected to see new prospects as packaged poultry feed develops more swiftly than conventional chicken feed.
Feed product quality and cost have emerged as two of the most important elements in this market, and suppliers are playing an essential role in the poultry feed business. To keep prices under control, chicken feed businesses are anticipated to increase their involvement in raw material production, which is expected to change market buying processes.
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Key Points from the Poultry Feed Market
- The requirement for nutritional feed to avoid poultry diseases, as well as farmers’ embrace of poultry farming as a source of income, is likely to drive the poultry feed market during the forecast period.
- The poultry feed market is expected to capture a CAGR of 5.4% during the forecast period 2023 to 2033.
- Asia Pacific dominated the poultry feed market.
Key Developments in the Poultry Feed Market
- In March 2019, DuPont de Nemours and Company introduced the chicken feed supplement SYNCRA to improve nutrient digestibility in poultry production.
- In September 2018, DSM N.V. and Novozymes released BALANCIUS, a feed enzyme that improves feed efficiency and digestibility in broilers while simultaneously increasing long-term product yield.
- In October 2019, Cargill developed a feeding intelligence platform that provides farmers with materials on the most recent intelligent animal production techniques, intending to assist farmers in navigating and improving their operations across all species, including poultry animals.
- In May 2018, Farmers introduced APOLLO, a new broiler feed brand, to broiler producers in the United Kingdom and Northwest Europe. The new feed line was designed to help modern broiler birds grow and stay healthy.
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Poultry Feed Market by Key Segment
By Livestock:
- Layers
- Broilers
- Turkeys
By Nature:
- Conventional
- Organic
By Feed Type:
- Corn
- Wheat
- Barley
By Form:
- Granules
- Pellets
- Powder
By Regional:
- North America
- Europe
- Asia Pacific
- Central & South America
- The Middle East & Africa
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