Rise in Consumption of Poultry Meat Expected to Drive World Poultry Feed Market over the Forecast Period: Ken Research
Poultry Feed is a food for farm poultry, including ducks, chickens, geese and other domestic birds. Feed for poultry generally consists of grain. Modern feeds are produced by specifically selecting & blending ingredients to provide extremely nutritional diet which maintains both the health of poultry birds and improve the quality of end products for instance meat and eggs. The basic nutrients require for growth, maintenance, reproduction, and health include vitamins, minerals, carbohydrates, proteins, and water. The energy needed for growth & other activities is derived mainly from carbohydrates and fats. In addition, protein is a main source of energy for poultry birds, particularly if the consumption of carbohydrates and fats is inadequate.
According to study, “World Poultry Feed Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world poultry feed market are C. P. Group, Land Olakes Plc., Cargill Inc, Zen-Noh Co-Operative, Tyson Foods, Nutreco NV, Agrifilm, AB Agri, Glon Sanders, DLG Group, Frangosul, Brazil Food, Novus International Inc., Charoen Popkhand Foods Plc. (CPF), Alltech Inc., Royal DSM N.V., BASF (Badishce Anilin und Soda Fabrik) SE, CHR. Hansen Holdings A/S, ForFarmers N.V., Evonik Industries AG, Archer Daniels Midland Company (ADM), Suguna Foods, Associated British Food Plc. (ABF), DLG Group, Perdue Farms Inc., Nutreco NV, J.D. Heiskell & Co., De Heus, Hi-Pro Feeds, Inc., Southern States Cooperative, Veronesi, Invivo NSA, BOCM, MNF, Zuellig, Kent Nutrition Group Plc, New Hope Group.
Based on animal type or livestock, poultry feed market is segmented into broiler, layer, turkey and others. The broiler segment holds major share owing to easy availability and high preference from consumers. Based on feed type, market is segmented into concentrates, complete feed and premix. Based on additives, market is segmented into amino acid, vitamins, antibiotics, feed enzymes, antioxidants, fees acidifiers and others. Based on form type, market is segmented into mash, crumbles, pellets, and others. Based on ingredient, market is segmented into molasses, cereal, oil, oilseed meal, supplements, fish oil & fish meal and other ingredients.
The poultry feed market is driven by rise in consumption of poultry meat, followed by high disposable income of people, increase in investments in poultry houses (broiler and egg production), poultry feed mills, and slaughterhouses, growth of domestic & international quick service restaurants in developing countries, absence of anti-nutritional ingredients such as phytic acid, change in preference for poultry products, widespread poultry diseases, rise in awareness for healthy protein diet and increase in chicken meat consumption & production. However, poultry feed prices and prevalence of poultry diseases may impact the market. Moreover, increase in population and rise in fast food & processed food demand are key opportunities for market.
Based on geography, USA country holds major share in poultry feed market owing to highest consumption of broilers and increase in research for flavored, safe & efficient poultry fees in the country. The flavored poultry feed helps in increasing the feedstock for better palatability and high productivity of boilers & layer. India country is expected to witness higher growth rate due to rise in consumption of fast food over the forecast period. The global market is anticipated to grow with a substantial growth rate of 4.61% from 2019 to 2024 and reach a market value of US $8.7 billion by the end of 2024.
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Ankur Gupta, Head Marketing & Communications