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Poultry Brooders, Feeders, and Waterers: Key Market Trends for 2024
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According to The Business Research Company's, The poultry brooders, feeders, and waterers market size has grown strongly in recent years. It will grow from $33.05 billion in 2023 to $35.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growing poultry industry, focus on animal welfare, efficiency and productivity.
The poultry brooders, feeders, and waterers market size is expected to see strong growth in the next few years. It will grow to $46.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to population growth and urbanization, food safety and hygiene, sustainability and environmental concerns, disease outbreaks and biosecurity. Major trends in the forecast period include automation and iot integration, customization and flexibility, hybrid systems, data-driven decision-making, market consolidation.
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Market Drivers and Trends:
Increasing consumption of poultry products is expected to drive the growth of the poultry brooders, feeders, and waterers market. The rise in poultry consumption is connected with four key factors such as explicit growth, improvements in income, chicken price relative to those for competitive meats, and dietary preferences. According to the Organisation for Economic Co-operation and Development (OECD) statistics, a France-based intergovernmental organisation, in July 2021, the estimate for total poultry meat production in 2020 is 134 Mt, up 1.2% from 2019 and supported by a significant increase in demand in China. Thus, the rising consumption of poultry products is indicating the need for high-quality poultry meat which in turn boosts the market growth for poultry brooders, feeders, and waterers market.
The integration of IoT-based devices with equipment is increasingly being used in the poultry brooders, feeders, and waterers market. IoT solutions will help farmers to settle on better choices regarding feed change and disease control and also monitor key performance indicators that improve production. For instance, in August 2023, Denvik Technology Pvt Ltd., an India-based technology company, launched an IoT based IoT smart solutions. Poultry farms are using IoT smart solutions to increase operational effectiveness, cut costs, and improve animal welfare. Poultry producers may monitor and manage their operations more efficiently, assuring optimal growth and lowering the risk of disease, by utilizing IoT-based smart solutions.
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Major Key Players of the Market:
Big Dutchman International GmbH, Officine Facco & C. Spa, Tecno Poultry Equipment Spa, Valco Companies Inc., Vencomatic Group BV, Jamesway Incubator Company Inc., LUBING Maschinenfabrik Ludwig Bening GmbH & Co. KG, ME International Installation GmbH, Chore-Time Brock International, GSI Group LLC, Farmer Automatic of America Inc., Roxell BVBA, Cumberland Poultry LLC, TEXHA PA LLC, Ziggity Systems Inc., Plasson Industries Ltd., Collinson Plc, Hyundai Rotem Company, Munters Group AB, Fancom BV, Secco International Inc., Impex Barneveld BV, HATO BV, Evergreen Micronutrients Private Limited, Farmer Automatic Industries GmbH, Jansen Poultry Equipment, VDL Agrotech BV, Vencomatic North America Inc.
Poultry Brooders, Feeders, And Waterers Market 2024 Key Insights:
• The poultry brooders, feeders, and waterers market size is expected to see strong growth in the next few years. It will grow to $46.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Poultry Consumption Fuels Demand For Poultry Brooders, Feeders, And Waterers Market Growth
• IOT Integration Revolutionizes The Poultry Brooders, Feeders, And Waterers Market For Enhanced Farming Efficiency
• The Asia-Pacific was the largest region in the poultry brooders, feeders, and waterers market in 2023
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