Poultry Feed Market Size Set to Reach USD 218 Billion by 2030, Growing at 6.4% CAGR

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Poultry Feed Market: Trends, Challenges, and Future Prospects

Poultry farming requires a balanced diet to ensure maximum growth and optimal health of the birds. Key nutrients essential for poultry health include amino acids, crude protein, fatty acids, vitamins, and minerals. The nutritional requirements vary based on factors such as species, age, and purpose of raising, whether for meat or egg production. Commercially, poultry feed formulations adhere to regulations set by governing bodies worldwide, with corn being a commonly used energy source in poultry feed. The global poultry feed market is projected to witness significant growth, with a substantial growth rate of 6.4% from 2022 to 2030, reaching a market value of USD 218 billion by the end of 2030. The consistent increase in poultry meat and egg production globally is expected to drive the growth of the poultry feed market.

Drivers:

  • Growing Need for Organic Meat to Boost Market Growth: There is an increasing demand for organic meat, leading to a surge in demand for premium chicken feed. Concerns regarding food and meat safety have propelled the demand for high-quality feed. Farm owners are becoming more aware of the importance of maintaining a healthy diet for their animals, leading to a shift towards functional and premium varieties of chicken feed.

Opportunities:

  • Technological Advances to offer Robust Opportunities: Technological advancements in feed manufacturing have led to improvements in the quality and nutritional value of chicken feed. Innovations such as pelletizing, extrusion, and precision feeding have enhanced overall poultry performance and nutrient absorption. These advancements create opportunities for specialized chicken feed products to cater to specific nutritional needs.

Restraints and Challenges:

  • High Raw Material Cost to act as Market Restraint: The high cost of raw materials, along with regulatory bans and increasing restrictions, poses challenges for the poultry feed market. Additionally, factors such as the rise in the vegan population and regulatory constraints may act as restraints over the forecast period.

Market Segmentation:

The global poultry feed market is segmented based on source, type, and form:

  • By source: micro-ingredients, animal proteins, vegetable proteins, coarse grains, and others.
  • By type: dual purpose, broilers, and layers.
  • By form: scratch grain, crumbles, pellets, mash, and others.

COVID-19 Analysis:

The COVID-19 pandemic initially led to disruptions in the poultry feed supply chain, resulting in feed shortages for the agricultural community. However, the growth in population and economy has increased the consumption of poultry products, driving the demand for packaged poultry feed. Market participants are expected to capitalize on this trend, with packaged poultry feed anticipated to grow faster than conventional feed.

Regional Analysis:

Asia-Pacific emerges as the leading poultry feed market, driven by its large population and rising standards of living. Countries like China and India have witnessed significant growth in the poultry industry over the past two decades, attributed to increased production levels and productivity per bird. The expansion of intensive systems with high food conversion ratios has contributed to higher output levels in the region.

Key Players:

Eminent industry players in the poultry feed market include Alltech, Kemin Industries, Cargill, Novozymes, and Chr. Hansen. Other notable players include BASF SE, Archer Daniels Midland Company, and Evonik Industries. These players play a crucial role in shaping the competitive landscape and driving innovation in the poultry feed industry.

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