USD 118.18 billion
Report ID: SQSG30C2017 | Region: Global | Published Date: February, 2024 | Pages: 265 | Tables: 89 | Figures: 76
Poultry Feed Market size was valued at USD 118.18 billion in 2021 and is poised to grow from USD 125.63 billion in 2022 to USD 217.7 billion by 2030, growing at a CAGR of 6.3% in the forecast period (2023-2030).
Farmers feed ducks, turkeys, chickens, geese, and other domestic birds like chickens and geese with poultry feed. Modern feed is made by carefully choosing and mixing ingredients to create a highly nutritious diet that keeps poultry birds healthy and improves the quality of their meat, eggs, and other products. Minerals, vitamins, carbohydrates, proteins, and water are the main things that chickens need to grow, reproduce, stay healthy, and stay alive. Most of the energy needed for growth and development comes from carbs and fats. Also, protein is an important source of energy for poultry, especially if they don't get enough carbohydrates and fat. The lack of anti-nutritional elements like phytic acid and the effect of uncontrolled feed intake on poultry birds' digestive systems are driving up the demand for poultry feed.
US Poultry Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 118.18 billion
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The Global Poultry Feed Market is segmented based on feed type, application, nature, and region. Based on type, the Poultry Feed Market is segmented into complete feed, concentrates, and premix. Based on application, the Poultry Feed Market is segmented into layers, broilers, and turkeys. Based on nature, the Poultry Feed Market is segmented into conventional and organic. Based on region, the global Poultry Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Poultry Feed Market Analysis by Feed Type
In 2021, the complete feed segment accounted for the largest market share of the global poultry feed market and is expected to dominate the same throughout the forecast period. The low cost and positive effect of complete nutrition of the poultry birds’ because of feeding complete feed is the major reason for the complete feed segment dominance. The premix is expected to show tremendous growth during the analysis period due to is easy to use for self-preparation of feed by large and marginal farmers and also provides the same benefits as the complete feed are major reasons. These all factors will propel the poultry feed market throughout the analysis period.
Poultry Feed Market Analysis by Nature
The poultry feed market is segmented into conventional feed and organic feed based on the nature of the feed. The conventional feed segment accounted for the largest market share in the year 2021 and is expected to hold the same during the analysis period. The growing chicken feed industry requires swift manufacture and regular supply which could be full filled by conventional feed. Also, conventional feed has the same or more nutrients as organic feed. These poultry feeds include cereals like maize, rice, wheat, oat, and barley, as well as cereal byproducts like wheat-bran or rice polish, and animal and vegetable protein sources like fish-meal, meat-meal, soybean-oil-meal, groundnut-cake, and others, depending on availability. The meal is chemically or naturally enhanced with minerals and vitamins which make it a more lucrative choice for farmers to use. These all factors of the conventional feed are propelling the demand and will drive the conventional feed segment during the analysis period.
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In 2021, the Asia Pacific region accounted for the largest market share of more than 35% of the global poultry feed market. The Asia-Pacific region has a large population and rising per capita income, both of which should drive rapid market expansion in the region. The region is spearheaded by growing economies like China, India, and Malaysia and has a comparative advantage over other regions due to its ready access to cheap labor and fertile farmland. Due to the region's large population and rising disposable incomes, it is anticipated that the region would grow at the quickest rate over the projected period.
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Poultry Feed Market Driver
Poultry Feed Market Restraint
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The poultry feed market is relatively fragmented, with a high level of competition. Few large players, like Land O’Lakes, Inc., Cargill Inc., and Tyson Foods Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Poultry Feed Market Top Player’s Company Profiles
Poultry Feed Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Asia-Pacific region accounted for the largest market share of more than 35% of the global poultry feed market in the year 2021. The conventional feed segment is expected to hold the largest share during the analysis period. The low cost and easy availability of complete nutrition to the poultry birds' because of feeding complete feed is the major reason for the complete feed segment dominance. The increasing use of wheat and soya meal in the conventional feed with added vitamins and minerals to increase the nutritive value and CP in the feed are major trends seen lately which help farmers to attain better FCR which will increase profitability and will propel the sector growth during the analysis period.
|Market size value in 2021
|USD 118.18 billion
|Market size value in 2030
|USD 217.7 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Poultry Feed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Poultry Feed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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