According to the latest report by IMARC Group, titled “Poultry Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global poultry feed market reached a value of US$ 202.3 Billion in 2022. Poultry feed refers to food grown and produced for the consumption of chickens, ducks, geese, and other domestic birds. It is rich in proteins, carbohydrates, fibers, antioxidants, enzymes, minerals, and antibiotics. It is produced from grains like wheat, barley, and sorghum, and protein sources, such as soybean, canola, and animal protein. Poultry feed is manufactured by carefully selecting and mixing ingredients to offer a highly nutritional diet that protects the health of poultry animals while also improving the quality of end products such as meat and eggs. It also plays a crucial role in the health of poultry animals by accelerating growth and weight, providing enriched nutrients, and developing immunity.
Global Poultry Feed Market Trends:
The increasing demand for poultry meat products across the globe is creating a positive outlook for the market. This can be further attributed to the changing dietary habits, growing demand for economic sources of protein, and the rising awareness amongst health consciousness consumers about the benefits of consuming poultry meat, such as a stronger immune system, heathier hair and skin, enhanced reproductive health, and better cognitive function. Additionally, the increasing demand for quality poultry products has prompted farmers to include and select fine ingredients in poultry feed, which, in turn, is acting as another growth-inducing factor. Apart from this, the introduction of automatic feeders and drinkers that assist in improving feeding, reducing waste, and keeping pests away is providing an impetus to the market growth. Other factors, including the implementation of various government policies promoting quality animal feed, the growing instances of poultry diseases, and extensive research and development (R&D) activities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 257.4 Billion by 2028, exhibiting a CAGR of 4% during 2023-2028.
- On the basis of the nature, the market has been bifurcated into conventional and organic.
- Based on the form, the market has been divided into mashed, pellets, crumbles, and others.
- On the basis of the additives, the market has been categorized into antibiotics, vitamins, antioxidants, amino acid, feed enzymes, feed acidifiers, and others.
- Based on the animal type, the market has been divided into layers, broilers, turkey, and others.
- On the basis of the distribution channel, the market has been bifurcated into offline and online.
- On region basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being AFGRI Animal Feeds, Alltech, Archer-Daniels-Midland Company, BASF SE, Cargill Inc., Charoen Pokphand Foods Public Company Limited, Chr. Hansen Holdings A/S, De Heus Animal Nutrition, ForFarmers N.V., Kent Nutrition Group (Kent Corporation), Koninklijke DSM N.V. and Novus International Inc. (Mitsui & Co. (U.S.A.) Inc.).
|Base Year of the Analysis
||Nature, Form, Additives, Animal Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AFGRI Animal Feeds, Alltech, Archer-Daniels-Midland Company, BASF SE, Cargill Inc., Charoen Pokphand Foods Public Company Limited, Chr. Hansen Holdings A/S, De Heus Animal Nutrition, ForFarmers N.V., Kent Nutrition Group (Kent Corporation), Koninklijke DSM N.V. and Novus International Inc. (Mitsui & Co. (U.S.A.) Inc.).
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