Poultry Feed Market: Segmented: By Type (Layers, Broilers, Turkey, and Others), By Additives (Antibiotics, Vitamins, Antioxidants, Amino Acid, Feed Enzymes, and Others), By Form (Mash, Pellets, Crumbles, and Others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Poultry Feed market to surpass USD 338.4 billion by 2032 from USD 191.5 billion in 2021 at a CAGR of 5.3% in the coming years, i.e., 2022-32.
Poultry Feed is a feed for poultry birds including turkeys, chickens, ducks, and geese. Poultry feed provides high nutrition and promotes growth and development of birds. Modern feed contains a sufficient amount of carbohydrates, proteins, and vitamins for improving the overall health of poultry birds. Healthy poultry results in good quality end products such as eggs, and meat, which increases the profitability of the farmers. Poultry feed is made from grains, soybeans, corn, etc. It contains additives such as vitamins, antibiotics, amino acids, antioxidants, and feed enzymes among others. Poultry Feed is available in the form of pellets, mash, crumbles, and others.
Poultry Feed market is expected to project a notable CAGR of 5.3% in 2032.
Growing population, urbanization, and increase in disposable income have induced the demand for poultry-based products, rising awareness related to poultry health and expansion in poultry production are the major factors driving the growth of Poultry Feed Market.
Broilers segment holds the largest market share
Poultry Feed market is classified on the basis of type into Layers, Broilers, Turkey, and Others. Broilers segment is dominating the market with the largest share. The growth is attributed to the rising demand for chicken meat as it is a rich source of protein and is available at a cheap rate. Furthermore, Layers segment also holds a significant share in the market owing to the huge demand for eggs.
Amino Acid segment holds the largest market share
Poultry Feed market is classified on the basis of additives into Antibiotics, Vitamins, Antioxidants, Amino acids, Feed Enzymes, and Others. Amino Acid segment dominates the market with the largest market share. Amino Acid is important for poultry nutrition as it contains high protein content. Vitamins hold a significant share in the market as they are a vital source of nutrition.
Increase in the Consumption of Meat
Global meat consumption has significantly increased on the back of rapid growth in population, urbanization, and a rise in disposable income. Poultry-based products are less expensive and are rich sources of protein. Growing awareness related to protein intake to maintain healthy lifestyle and a shift in taste of the customer towards meat and eggs have also boosted the consumption of meat. Growing consumption of meat has induced the demand for Poultry Feed which is driving the market growth.
Growing Awareness related to Poultry Health
Farmers are focusing on providing nutritious diets to the birds for attaining high benefits from the output and hence are demanding a quality feed. Expanding poultry production to meet the demand is inducing the demand of poultry feeds. Growing demand for organic poultry products due to rising food safety concerns is fueling the demand for Poultry Feed as it provides proper nutrition to the poultry.
Fluctuating Prices of Raw Materials
Fluctuation in the prices of raw materials is a major hindrance to the growth of Poultry Feed market. Furthermore, rising number of regulatory bans and restriction, and growing veganism is impeding market growth.
Poultry Feed market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is dominating the global market and is expected to grow at a significant rate during the forecast period. The growth is attributed to the rising consumption of meat and eggs owing to the immense population growth, and rise in disposable income. India and China have registered significant growth over the years in poultry production.
Covid-19 had severely affected economic activities across the world. Many countries had to impose lockdowns and strict social distancing norms in order to control the spread of Coronavirus. Lockdowns have disrupted the global supply chains, procurement of raw materials and availability of skilled labor which has resulted in shutdown of many poultry feed companies. The pandemic had a negative impact on the Poultry Feed market. However, in the post-pandemic scenario the market is anticipated to grow at a significant rate.
Poultry Feed Market is further segmented by region into:
Poultry Feed Market Segments:
|Market size value in 2021||USD 191.5 billion|
|Revenue forecast in 2032||USD 338.4 billion|
|Growth Rate||CAGR of 5.3% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Additives, Form, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||BASF SE, CHR. Hansen Holdings A/S, Lallemand Inc., Novus International Inc., Royal DSM N.V., Alltech Inc., ADM, Charoen Popkhand Foods, ABF Plc, Cargill Incorporated, Nutreco, Land O'Lakes, Inc., ForFarmers, Kent Nutrition Group, Perdue Farms, and Other Prominent Players|
Poultry Feed market size was estimated at USD 191.5 billion in 2021 and is expected to reach USD 338.4 billion in 2032.
Poultry Feed is a feed for poultry birds including turkeys, chickens, ducks, and geese. Poultry feed provides high nutrition and promotes growth and development of birds. Modern feed contains sufficient amount of carbohydrates, proteins, and vitamins for improving overall health of the poultry birds.
Broilers, and Amino Acid segment accounted for the largest Poultry Feed market share.
Key players: BASF SE, CHR. Hansen Holdings A/S, Lallemand Inc., Novus International Inc., Royal DSM N.V., Alltech Inc., ADM, Charoen Popkhand Foods, ABF Plc, Cargill Incorporated, Nutreco, Land O'Lakes, Inc., ForFarmers, Kent Nutrition Group, Perdue Farms, and Other Prominent Players are the key players in the Poultry Feed market.
Increase in the Consumption of Meat and Growing Awareness related to Poultry Health are the factors driving the Poultry Feed market.
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