Poultry Feed Market Size Worth US$ 156,710 million by 2028; CAGR of 3.3% | The Insight Partners

The Insight Partners has been monitoring the Poultry Feed market and it is poised to grow by US$ 156,710 million during 2021-2028, progressing at a CAGR of over 3.3% during the forecast period. This study provides an up-to-date assessment of the current market situation, as well as the most recent trends and drivers, as well as the general market environment.

Poultry feed is produced from various raw materials, such as cereal and grains, cakes or oil meal, and feed additives. The nutritional requirements of the poultry feed depend on the weight and age of the poultry, their rate of growth, and the rate of egg production. The increase in the consumption of poultry products among consumers is boosting the poultry feed 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.

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.

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.

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Poultry Type Insights
Based on poultry type, the global poultry feed market is segmented into layers, broilers, turkeys, and others. The broilers segment held the largest share of the market in 2020. Broilers are chickens raised for meat and are fed a high-protein diet to help support rapid growth. Broiler chicken feed comes in different forms, such as mash, pellet, and crumble. India is one of the largest broiler producers with the growing demand for compound feed in the broiler industry. The increasing broiler production will continue to boost the demand for broiler poultry feed during the forecast period.

By Poultry Type
• Layers
• Broilers
• Turkeys
• Others

By Form
• Mashed
• Pellets
• Crumbles
• Others

By Category
• Organic
• Conventional

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
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the poultry feed market

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Contact Person: Sameer Joshi
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Phone: +1-646-491-9876

About Us:
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 syndicated and consulting 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.

This release was published on openPR.