Poultry Feed Market to Reach US$ 156,710 million, Globally, by 2028 at 3.3% CAGR: The Insight Partners

According to our latest market study on "Poultry Feed Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Poultry Type (Layers, Broilers, Turkeys, and Others), Form (Mashed, Pellets, Crumbles, and Others), and Category (Organic and Conventional)," the market accounted for US$ 124,611 million in 2021 and is expected to grow at a CAGR of 3.3% during 2020-2027 to reach US$ 156,710 million by 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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A few key players in the global poultry feed market are ADM; Cargill, Incorporated.; Alltech.; Charoen Pokphand Foods PCL; For Farmers; Kent Corporation; SHV Holdings; Land O'Lakes, Inc.; AFGRI Animal Feeds; and DE HEUS ANIMAL NUTRITION. Players operating in the market are highly focused on the development of high quality and innovative product offerings to fulfil the customer’s requirements.

In 2020, Asia-Pacific held the largest revenue share of the global poultry feed market. With a large base of poultry meat consuming population, the Asia-Pacific poultry feed market is reporting a remarkable growth and is expected to continue to do so over the next few years. China and India are the two leading poultry feed producers in the world. In India, the poultry feed production industry is among the fastest-growing ones with the competition intensifying among feed manufacturers.Consumers in this region are looking for additional sources of protein-rich foods. An increase in demand for protein-rich food, coupled with enhanced purchasing power, has fueled poultry meat consumption extensively. All these factors are likely to fuel the growth of the Asia-Pacific poultry feed market during the forecast period.

Impact of COVID-19 Pandemic on Poultry Feed Market

The ongoing COVID-19 pandemic compelled the implementation of preventive measures that drastically altered the status of the animal feed industry and negatively impacted the growth of the poultry feed market. Governments across the globe have ordered the closure of their international ports, further causing disruptions in the poultry feed supply chain. The COVID-19 pandemic impacted the availability of raw materials to prepare poultry feed in almost all countries. Corn and soybeans are the main ingredients in poultry feeds. Many countries worldwide that depend on imports of these raw materials to prepare poultry feed have had substantial problems procuring the ingredients. The availability of poultry feed in most places was difficult due to the shutting down of the feed plants. The worldwide consumption of poultry meat declined drastically. The poultry feed industry has been badly affected by the closure of restaurants across the world. However, as the economies are planning to revive their operations, the demand for poultry feed is expected to rise globally. The expanding demand for poultry feed and significant investments by prominent manufacturers are expected to drive the growth of poultry feeds.

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Market Insights

Growing Poultry Production

Fuels Poultry Feed Market Growth

The poultry sector is registering a continual rise across the world. Poultry is regarded as one of the most cost-effective protein sources due to which the demand for poultry products, such as eggs and meat, continues to rise. There is a surge in chicken consumption among people who are more concerned about their health. The upswing in the poultry production is catering substantially to the bolstering need for the global population. According to the Food and Agriculture Organization (FAO) of the US, the world poultry meat production has increased from 9 to 132 million tons between 1961 and 2019, and egg production has grown from 15 to 90 million tons. The surging poultry production propels the use of quality poultry feed products.

GLOBAL POULTRY FEED MARKET SEGMENTATION

By Poultry Type
• Layers
• Broilers
• Turkeys
• Others

By Form
• Mashed
• Pellets
• Crumbles
• Others

By Category
• Organic
• Conventional

Regional and Country-wise Analysis: Global Poultry Feed Market

- North America (U.S., Canada, Mexico)

- Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

- Latin America (Brazil, Rest of L.A.)

- The Middle East and Africa (Turkey, GCC, Rest of Middle East)

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Report Spotlights

• Progressive industry trends in the poultry feed market to help players develop effective long-term strategies

• Business growth strategies adopted by developed and developing markets

• Quantitative analysis of the poultry feed market from 2019 to 2028

• Estimation of global demand for poultry feed

• Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our wide range of research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials and Foods and Bavarages.

This release was published on openPR.