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
To feed domesticated birds and other poultry, such as ducks, turkeys, chickens, and geese, farmers use poultry feed. Modern feed is prepared by carefully selecting and mixing ingredients to give a high nutritious diet that protects the health of poultry birds and enhances the quality of end products like meat and eggs. The primary nutrients that poultry birds require for growth, reproduction, maintenance, and health include minerals, vitamins, carbohydrates, proteins, and water.
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When poultry birds’ intake of carbs and fats is insufficient, protein is an essential source of energy. The demand for poultry feed is rising due to the shortage of anti-nutritional components such phytic acid and the effects of unrestricted feed intake on the digestive tracts of poultry birds.
The rise in population is a crucial factor that is anticipated to support the expansion of the global poultry feed market. Furthermore, due to their low cost and a shift in customer tastes towards white meat rather than red meat, consumption of poultry-based products has expanded dramatically globally.
Increased awareness of the value of protein in the diet can be partly blamed for the rising global per capita meat intake. Additionally, the Middle East, Africa, Asia Pacific, and these countries have increased their production and consumption of meat, which has supported market expansion.
The industry for poultry feed is primarily driven by an increase in consumer demand for poultry meat products. Additional market growth catalysts include increased industrial livestock output and demand for organic feed.
The demand for poultry products is greatly influenced by both income and population. The industry is anticipated to experience growth as packaged poultry feed advances more quickly than traditional 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.
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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