The global poultry feed market will touch USD 218 billion at a 6.4% CAGR by 2030, as per the recent Market Research Future report.
Growing Need for Organic Meat to Boost Market Growth
Demand for premium chicken feed has increased as a result of worries about the safety of food and meat. Growing farm owner awareness of the need of maintaining a healthy animal diet is another element fueling the market growth. To increase the animals’ resilience to enzootic illnesses and reduce the risk of metabolic issues, acidosis, injuries, and infections, they are switching from standard chicken feed to the functional & premium varieties.
Technological Advances to offer Robust Opportunities
The quality & nutritional value of chicken feed have increased as a result of technological breakthroughs in feed manufacturing. With the help of innovations like pelletizing, extrusion, & precision feeding, poultry may perform better overall and absorb nutrients more effectively. The need for specialized chicken feed products is driven by these technical developments.
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Restraints and Challenges
High Raw Material Cost to act as Market Restraint
The high raw material cost, regulatory bans, increase in vegan population, and increase in restrictions may act as market restraints over the forecast period.
The global poultry feed market is bifurcated based on source, type, and form.
By source, the market is bifurcated into micro-ingredients, animal proteins, vegetable proteins, coarse grains, and others.
By type, the market is bifurcated into dual purpose, broilers, and layers.
By form, the market is bifurcated into scratch grain, crumbles, pellets, mash, and others.
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Early on, the COVID-19 epidemic and the measures taken to contain it led to the closure of chicken feed businesses all over the world, which resulted in a feed scarcity for the agricultural community. As a result, the first COVID-19 lockout disrupted the logistical network, which had a severe effect on the supply of chicken feed internationally for the whole anticipated period. Growth in the population and economy has a significant impact on the consumption of poultry products. Packaged poultry feed in fact is anticipated to grow more quickly than conventional chicken feed over the coming years, opening up additional potential for market participants.
APAC to Head Poultry Feed Market
The biggest poultry feed market is in Asia-Pacific. Asia Pacific will witness the utmost market development owing to its massive population and rising standard of living. Over the last two decades, the poultry industry in China & India in fact has grown significantly in terms of the quantity of chicken produced and the productivity per bird. The expansion of intensive systems with high food conversion ratios is linked to higher output levels.
Eminent industry players profiled in the poultry feed market report comprise Alltech, Kemin Industries, Cargill, Novozymes, Chr. Hansen. Other notable players include BASF SE, Archer Daniels Midland Company, and Evonik Industries.
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