Poultry Market : Increasing Demand for Efficient Management Practices Report

The global poultry market was valued at US$ 267,332.3 Mn in 2018, and is expected to exhibit a CAGR of 3.0%, in terms of revenue, over the forecast period (2019-2027), to reach US$ 347,265.8 Mn by 2027.

Poultry are domesticated birds such as chicken, duck, turkey, and geese, which provide food and fiber. Poultry market is expected to witness significant growth over the forecast period, owing to increasing global population and purchasing power of people. For instance, according to the World Bank, the global population was 7.6 billion in December 2017, and is expected to reach 11.8 billion by 2021.

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Poultry meat is the most preferred meat among beef, pork, and other red meat, and is comparatively less expensive. This is expected to boost growth of the global poultry market over the forecast period. Furthermore, increasing income disposable income of the populace coupled with changing preferences among people is expected to increase demand for poultry items such as eggs and meat.

Market Dynamics

Based on distribution channel, in 2018 specialty stores accounted for the largest market share in terms of revenue and contributed for 36.7% in the global poultry market. Specialty stores offers specific products according to the type of store. People prefer buying poultry products through specialty stores as it is considered to offer fresh products. This is expected to increase demand for poultry from specialty stores over the forecast period.

Detailed Segmentation:

Global Poultry Market, By Species Type:
Chicken
Turkey
Duck
Geese
Others

Global Poultry Market, By Distribution Channel:
Hypermarkets
Supermarkets
Online Channels
Specialty Stores
Others

Key companies operating in the global poultry market include Tyson Foods, Inc., JBS S.A., Pilgrim's Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group.

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This release was published on openPR.