The global poultry keeping machinery market is set to be valued at around US$ 5.09 Bn in 2022, registering Y-o-Y growth of 3.2%. The market is projected to increase at a CAGR of 3.6% and attain a valuation of US$ 6.54 Bn by 2028.
The report largely connects increased chicken meat consumption with the market for poultry keeping equipment’s hopeful future. According to the analysis, the poultry keeping machinery market has tremendous development potential in regions including South America, Asia Pacific outside of Japan, and North America.
The newest market research study by Future Market Insights on poultry keeping machinery finds that the market was valued nearly at US$ 4.5 Bn in 2021, and is projected to grow by ~3% CAGR during the forecast period of 2022-2029.
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Significant product innovation over the next decade with advanced technologies meeting regulations and animal welfare norms are expected to emerge as a product differentiator for the market. Automation of agricultural and farm equipment and demand for advanced and cost-effective poultry keeping machinery from new poultry farms have increased significantly.
Growing demand for progressive products is imposing pressure on the manufacturers to deliver technologically-advanced and unique product offerings, finds FMI. Thus, technological advancements have led to noteworthy investment in research & development by equipment manufacturers. Manufacturers in the poultry keeping machinery market focus on developing unique patented technologies, which act as product differentiators and help them earn a competitive edge.
From an investment viewpoint, birds such as turkey, ducks and broilers have high economic value as they adapt easily to any environment. They can be used for meat within eight weeks, and thereby, with expected increase in consumption, significant upsurge in investment in the poultry sector is expected, particularly in developing countries, countries in the Middle East Africa such as Iran and Tunisia.
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APEJ Region to Provide Noteworthy Growth Opportunities for Manufacturers
With ongoing technological advancements and progression in agricultural and farm equipment over the years, automation is anticipated to emerge as the future of the poultry keeping machinery market in growing economies in the APEJ Region. Poultry keeping machinery manufacturers are focusing more on improving their market structures and offerings in the region.
For the global poultry keeping machinery market, the APEJ region is projected to be a prominent region throughout the forecast period owing to the increasing consumption and production of poultry keeping machinery in China and India, along with North America, Latin America, Western Europe, and Eastern Europe. The growing focus on animal welfare worldwide has inclined consumer focus on the methods adopted in the production of the food produced from the farm.
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Broiler Harvesting and Slaughtering Equipment to Remain Prominent Poultry Keeping Machinery
The division of the global poultry keeping machinery market has been done on the basis of product type, along with seven regions.
· Based on product, poultry keeping machinery is commonly used in broiler harvesting and slaughtering, which is expected to contribute to the growth of the market in the coming years. It is anticipated to play a prominent role in the global poultry keeping machinery market throughout the forecast period. The other types of poultry keeping machinery such as vaccination, flooring, scales, nest, and cages, are also considered to project relatively high growth in the upcoming years.
· Drinking and feeding poultry keeping machinery also have noteworthy benefits due to their reduced microbial load and improvement in feeding pellets to the farm animals. This will improve the growth performance through feed intake, which will result in weight gain. This feed conversion ratio will lead to healthy protein gain.
Poultry Keeping Machinery Market: Vendor Insights
The global poultry keeping machinery report emphasizes on some of the principal industry players in the global poultry keeping machinery market. Some of the examples of the key players in the market are Valco Companies, Inc., Jansen Poultry Equipment, Vencomatic Group, Big Dutchman International GmbH, TEXHA PA LLC, Petersime NV, Hartmann Lebensmitteltechnik Anlagenbau GmbH, and HAMex-GmbH, among others.
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