Global Poultry Feed Market Opportunities and Forecast 2023-2030

Poultry Feed Market Overview

The poultry sector is one of the fastest-growing meat sectors, due to the rise in poultry meat consumption. Increasing the productivity of poultry is critical to feeding the growing global population. However, high feed prices are acting as a restraint to the poultry feed market. The worldwide poultry meat production is growing, with two-thirds of the increase originating within the Asia-Pacific region. The US consumption of poultry meat is additionally increasing, because it's considered a convenient product that's easily available within the market. In China and India, the demand for livestock products has been increasing due to rapid process.

Factors like population, real income growth, price of poultry meat, which is relatively cheaper than other meat and changes in dietary preferences of consumers are influencing the per capita consumption of poultry meat across the globe, which is predicted to fuel the market growth of poultry feed during the forecast period.
 
Covid-19 Impact on Poultry Feed Market:

A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, safety, supply chain, training, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in beverage industry is facing a devastating effect of pandemic. 13% of the craft beer sector around the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused shut down of many small to medium food processing companies around the world.
 
Poultry Feed Market Segment Overview

By animal type, increasing demand for chicken meat attributable to the presence of protein-rich content at low cost is triggering the expansion of broilers farming. Proper nutrition is one among the foremost important factors in broilers farming. Broiler requires 13 vitamins, one essential carboxylic acid, 13 amino acids, 14-16 minerals, and a source of energy for balanced nutrition.

By application, Vitamins are a group of organic compounds required in small quantities for feed. Vitamins are wont to regulate normal body functions, reproduction, and growth, which make them an important additive. They will be broadly categorized into two different groups, namely water-soluble and fat-soluble vitamins. Ethoxyquin is one among the majorly used synthetic antioxidants. it's also one among the economic antioxidants and has high preservative capabilities due to which it's utilized in canned pet foods. However, the demand for such antioxidants has decreased within the recent past because of negative consumer perceptions and side effects regarding synthetic antioxidants.

Market Analysis, Insights and Forecast – By Animal Type
·       Layers
·       Broilers
·       Turkeys
·       Others

Market Analysis, Insights and Forecast – By Application
·       Antibiotics
·       Vitamins
·       Antioxidants
·       Amino Acid
·       Feed Enzymes
·       Feed Acidifiers
·       Others
 
Poultry Feed Market Regional Overview

Region-wise, in terms of regions, the presence of an enormous population and increasing disposable incomes are likely to trigger the market growth at the fastest rate in Asia Pacific. Asia Pacific led by emerging economies like China, India, and Malaysia features a competitive edge over other regions on account of the abundant availability of low-cost labor and agricultural land. The region is likely to advance at the fastest rate, in terms of both volume and revenue, over the forecast period due to the large population and increasing disposable incomes of consumers.

In the U.S., nearly thirty-five companies (federally inspected) are engaged in raising and processing of chicken. These companies are vertically integrated throughout the poultry value chain, which helps them make sure the quality of the product. The European poultry feed industry is driven by innovation and highly regulated.

Also, conventionally, the European market has been highly regulated in terms of human health and well-being also because the environment. This leads to regular changes within the guidelines for feed additives in terms of bans and restrictions. Increasing broiler production in Europe and consumers’ preference for poultry products due to their economic prices as compared to other substitutes are likely to develop the market across the region over the forecast period. Spain emerged as a serious demand driver for the European market.

Poultry Feed Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Poultry Feed Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Poultry Feed are highlighted below.

·        In March, 2018, Petcurean, which may be a family-owned Canadian company involved in creating premium-quality pet food recipes introduced freeze-dried meal mixers for dogs which are made with nutritional and functional pet food ingredients.

Poultry Feed Market, Key Players

·       Royal DSM N.V.
·       Alltech Inc.
·       Novus International Inc.
·       Evonik Industries
·       Kent Nutrition Group, Inc.
·       BASF.