Organic Poultry Feeds Accounts for Over Three-Fifth of Total Poultry Feed Demand
The latest study published by Fact.MR provide a compelling insights into the global poultry feed market from 2022 to 2032. This study uncovers key dynamics such as driven and opportunities across 6 regions. It also offers sales forecast in market on the basis of product type, source, form, nature, and sales channel for the coming decade.The global poultry feed market is estimated to create an absolute $ opportunity of over US$ 102.4 Bn by the end of 2032. Overall sales of poultry feed are expected to surpass US$ 122.9 Bn by 2022, exhibiting growth at a CAGR of 6.2% over the forecast period 2022-2032.
With increasing demand for high-quality meat, numerous poultry farmers are shifting their preference towards modern feed for their poultry birds such as chickens, ducks, and others to enhance the flavor and texture of their meat.
Hence, to cater to the growing demand, leading players are developing modern poultry feed by meticulously selecting and mixing ingredients to offer a highly nutritional diet to poultry birds. On account of this, the sales of poultry feed are estimated to exceed US$ 225.2 Bn by 2032.
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Nutrients such as minerals, proteins, carbs, vitamins, and water are important elements. Deficiency of which, in the feed, can result in affecting the health, development, and reproduction of poultry birds. On the back of this, numerous regulatory organizations are granting approval for new high nutritious feeds.
For instance, in September 2018, the Association of American Feed Control Officials (AFFCO) granted approval for the use of high protein feeds produced from whole dried insects and insect larvae for poultry in the U.S.
Hence, growing emphasis of regulatory authorities on development of modern feeds across the U.S. is expected to drive the market in North America. As per Fact.MR, the region accounted for nearly 31% of the total sales in 2021.
The U.S. is estimated to emerge as the leading market in North America, driven by favorable regulatory poultry feed approvals.China will emerge as a highly lucrative market in East Asia, owing to the growing demand for high-quality poultry products such as meat and eggs in the country.The U.K. and Germany are projected to, collectively, account for the dominant share in Europe, on account of increasing adoption of dynamic predictive software tools in poultry feed management.On the basis of product type, the broiler segment is forecast to account for the maximum sales, favored by the high end-use demand for broiler products.In terms of nature, organic poultry feeds are anticipated to emerge as the most sought-after, accounting for nearly 67.8% of the sales through 2032.
Growth Drivers:
Growing emphasis on ensuring providing required nutrition to poultry birds for increasing immunity against diseases is favoring the demand in the market.Surging consumption of white meat and demand for power eggs across the countries such as the U.S., China, India, and the U.K, will boost the poultry feed market.
Restraints:
Relatively high cost of organic poultry feeds in comparison to conventional ones is hindering the sales across the organic segment.Implementation of stringent regulations regarding the poultry feeds, due to rising scandals related to poultry production, are hampering the growth in the global market.
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Competitive Landscape:
Key players in the poultry feeds market are focusing on new product development to expand their product portfolio. Besides this, some to the companies are adopting strategies such as collaborations, partnerships, mergers, and acquisitions to gain edge in the global market.
For instance,
In 2021, Associated British Foods Plc., a British multinational food processing company, announced introducing animal neonate specialist business AB Neo, focusing on needs of young farm animals. It manufacturers a range of products including feeds for poultry and cattle.In 2020, ForFarmers, a Dutch innovative feed solution provider announced acquiring poultry sector of De Hoop Mengvoeders, to expanding its production and increasing revenue share across Europe.
Key Companies Profiled by Fact.MR
ForFarmers N.V.Associated British Foods PlcAnko Food Machine Co. Ltd.Bucher IndustriesJohn Bean Technologies CorporationMallet & Company Inc.SPX CorporationGEA GroupTetra Laval International S.A.Hosokawa Micron CorporationBASF SE Other
What is the estimated revenue of the poultry feed market during the forecast period?Which are the challenges faced in the poultry feed market?Which region is estimated to exhibit fastest growth rate in the global poultry feed market during 2022-2032?What is the projected market valuation of the poultry feed market in 2022?Which are the factors driving the poultry feed during 2022-2032?What is the expected growth rate of the poultry feed market until 2032?
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