“Increasing demand for meat products supports the growth of the market”
The global poultry feed market size was valued at USD 180.6 billion in 2021, growing at a CAGR of 4.3% over the forecast period. The poultry sector is one of the fastest-growing sectors owing to the increase in poultry meat consumption. Increasing the productivity of poultry is grave to feeding the rising global population. However, rising feed prices are substitutes as a restraint to the poultry feed market. Global poultry meat production is growing, with two-thirds of the increase in the Asia-Pacific region. The United States consumption of poultry meat is also increasing because it is considered as a convenient product and easily available in the market Poultries that are completely raised need a decent exhibit of supplements in their eating routine for greatest development and great wellbeing. The various kinds of supplements essential for poultry wellbeing are amino acids, rough protein, unsaturated fats, nutrients, and minerals. The measure of sustenance required by feathered creatures fluctuates as indicated by species, age, and the motivation behind raising, for example, either for meat or eggs. Modernly, the definition of poultry feed incorporates segments that are managed by administrative bodies over the world. Corn is commonly utilized in poultry feed as a vitality hotspot for poultries.
The worldwide poultry feed showcase is anticipated to develop with a critical development pace of 4.61% from 2019 to 2024 and arrive at a market estimation of USD 8.7 billion before the finish of 2024. Overall creation of poultry meat and eggs has expanded reliably throughout the years, and this pattern is required to proceed, along these lines driving the development of worldwide poultry feed to advertise. In addition, the developing number of outrages identified with poultry creation is prompting expanding worry for sanitation and clean marks are legitimately affecting the deals of poultry feed over the globe.
Market Synopsis
“Increasing Demand for Poultry Meat Products supports the growth of the market”
The amino acid portion rose as the biggest section in terms of income in the year 2018 and is assessed to observe the astounding development rate over the coming years. Amino corrosive is considered as one of the most significant wellsprings of protein and, accordingly, exceptionally required in poultry sustenance. Because of high protein content, amino corrosive lessens the consideration level of soybean feast in a monogastric creature's diet. Ethoxyquin is one of the significantly utilized manufactured cancer prevention agents. It is additionally one of the monetary cancer prevention agents and has high additive abilities attributable to which it is utilized in canned pet nourishments. Be that as it may, the interest for such cancer prevention agent has diminished in the ongoing past inferable from negative purchaser observations and symptoms with respect to engineered cell reinforcements.
“Asia Pacific is projected to grow at a considerable rate during the forecast period”
The Asia Pacific accounts for the largest region for the poultry feed market in the year 2021. With the rising population, the demand for food also increases, to fulfill the hunger needs of the population. The government in the Asia Pacific region is implementing some of the other initiatives to meet the rising demand for meat-based products. Thereby, increases the demand for the market. According to FAO, yearly meat consumption in China and forecasted to rise from about 50 kg per capita today to approximately 70 kg per capita by the year 2030. Moreover, rapid urbanization and a rise in disposable income in the region are expected to be the major drivers of the poultry feed market.
List of Companies Covered:
Key Industry Developments:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Poultry Feed market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
| Segmentation | |
Type
| |
Additives
| |
Animal Type
| |
Ingredients Type
| |
|
Region Segment (2022-2032; US$ Billion)
|
Key questions answered in this report
