Poultry Feed Market

Poultry Feed Market Size, Share, Growth Analysis, By Feed Type(Complete Feed, Concentrates, Premix), By Application(Layers, Broilers, Turkeys), By Nature(Conventional, Organic), By Region - Industry Forecast 2024-2031

Report ID: SQSG30C2017 | Region: Global | Published Date: July, 2036
Pages: 265 | Tables: 89 | Figures: 76

Poultry Feed Market Dynamics

Poultry Feed Market Driver

  • Increasing population is driving the global poultry feed market. Due to their low cost and shift in taste, poultry-based goods are getting popular globally. Increasing worldwide per capita meat consumption and awareness regarding the benefits of protein intake are propelling the white meat demand. High economic growth in Asia-Pacific and MEA has increased meat production and consumption, driving the poultry market growth.

Poultry Feed Market Restraint

  • The poultry feed market is highly dependent on the cost of the raw material and the cost of the feed is also driven by the fluctuation in raw materials. Therefore, any calamity and disaster that affect farming production and yield will also restrain the production of the poultry feed market growth.
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Poultry Feed Market size was valued at USD 118.18 billion in 2019 and is poised to grow from USD 125.63 billion in 2023 to USD 217.7 billion by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).

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. 'Cargill, Incorporated', 'Archer Daniels Midland Company', 'Nutreco N.V.', 'Tyson Foods, Inc.', 'Alltech, Inc.', 'Charoen Pokphand Foods Public Company Limited', 'New Hope Group Co., Ltd.', 'Guangdong Haid Group Co. Ltd.', 'ForFarmers N.V.', 'Evonik Industries AG', 'BASF SE', 'Land O'Lakes Inc.', 'Hi-Pro Feeds LP', 'Kent Nutrition Group, Inc.', 'Purina Animal Nutrition LLC', 'Guangzhou Guangdong Feed Group Co. Ltd.', 'Guangdong Wens Foodstuff Group Co. Ltd.', 'Guangxi Yangxiang Co. Ltd.', 'Guangdong Wen's Foodstuff Group Co., Ltd.', 'Beijing Dabeinong Technology Group Co. Ltd.'

Increasing population is driving the global poultry feed market. Due to their low cost and shift in taste, poultry-based goods are getting popular globally. Increasing worldwide per capita meat consumption and awareness regarding the benefits of protein intake are propelling the white meat demand. High economic growth in Asia-Pacific and MEA has increased meat production and consumption, driving the poultry market growth.

The latest trend witnessed in the global poultry feed market is the increasing use of feed additives in poultry feed. The increasing use of vitamins and minerals along with enzymes and pro and prebiotics are major market trends this allows farmers to attain better FCR performance from the feeds. Hence, increasing the demand for conventional feed in recent times. These all factors will propel the market growth during the analysis period.

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

Report ID: SQSG30C2017

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