Alltech Inc., Novus International Inc, Royal DSM N.V., Charoen Popkhand Foods, BASF, Evonik Industries AG, Archer Daniels Midland Company, CHR. Hansen Holdings A/S, ABF Plc, Cargill Inc., InVivo NSA, Suguna Foods, Nutreco NV, and DLG Group among others are some of the major players in the global poultry feed market. These players are set to bolster the development of poultry feed market in the coming future.
As per analysts at Zion Market Research, Global poultry feed market was capitalized at more than USD 190.60 Billion in 2015. The poultry feed market is likely to reach more than USD 226.20 Billion in 2021 and is expected to develop at a CAGR of slightly more than 2.90% from 2016 to 2021.
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Increasing Awareness For Healthy Protein Diet To Augment The Demand Of Poultry Feed Market In The Years To Come
Increasing awareness for healthy protein diet leads to high requirement for poultry products. This boosts the poultry feed market, as per the analysts at Zion Market Research. Rising usage of poultry & meat products activates the development of poultry feed market. In addition to this, augmenting poultry business in developing nations resulted in the high development of poultry feed market. Although, increasing incidence of diseases such as bird flu might hinder the development of the poultry fee market. In addition to this, high maintenance and preliminary cost is expected to affect the development of poultry feed market.
Nevertheless, support and funding from the government for extending the poultry industry due to high profit and to deal with unmet demand from consumers is likely to unlock new opportunities in the years to come. For instance, in February 2018, EU Health and Food Safety Commissioner planned to authorize the addition of insect protein by 2019 in poultry feed after technical matters and regulation are sorted, thereby boosting the poultry feed market.
Increasing Population And High Profit From Import To Suffice The Growth Of The Poultry Feed Market In Asia Pacific
The poultry feed market is primarily ruled by North America. This majorly attributed to the inclusion of antibiotics in the feed and rising demand and usage for broiler. Asia Pacific is the most important area for poultry feed market and is expected to maintain its dominance in the years to come. Increasing population, high profit from import, change in preference for poultry products, and export of poultry items are likely to boost the demand for poultry feed market. The Middle East & Africa is expected to exhibit decent development due to rising requirement for poultry goods and rising disposable revenue. Production cost is favorable in Brazil, this factor resulted in high development of poultry feed market in Latin America.
The global poultry feed market is segmented as follows:
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