Poultry Feed Market Expected to Reach $217.7 Billion by 2031

According to a new report published by Allied Market Research, titled, “Poultry Feed Market By Nature, By Feed Type, By Distribution Channel: Global Opportunity Analysis And Industry Forecast, 2020-2031" The poultry feed market size was valued at $110,801.00 million in 2020, and is estimated to reach $217,717.80 million by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

According to the United Nations Food and Agriculture Organization (FAO), food consumption is predicted to increase by 60% between 2010 and 2050, while animal protein demand is expected to increase by 1.7% per year. Thus, this factor is expected to contribute toward the growth of the poultry feed market during the poultry feed market forecast.

In Western and Eastern Africa, investments in poultry feed mills, poultry houses (for both broiler and egg production), and slaughterhouses are on an increase. Locals, international agribusiness firms with existing operations in Africa, international agribusiness firms seeking new prospects, or African governments (such as Morocco or South Africa) investing in adjacent countries make investments in Africa. For example, Sedima, a Western African French-speaking powerhouse, was founded in 1976 with only 120 chicks. Sedima has seen a variety of renovations and investments over the years. Currently, the company possesses a slaughterhouse equipped with stork equipment and capable of producing 4,000 to 6,000 chicks per hour. Furthermore, it collaborates with KFC to supply its broiler meat. As a result, investment in poultry infrastructure across the African continent is predicted to boost the growth of the poultry feed market.

Furthermore, the rise in animal protein consumption is projected to continue to be a major driving factor in the global poultry feed market during the forecast period. Furthermore, an increase in demand for fast food and processed foods, as well as an increase in poultry exports from Asia-Pacific, are likely to support market expansion. Furthermore, an increase in poultry consumption in North America as a result of higher beef costs is predicted to contribute toward the market growth. Government rules that make it easier to employ feed additives to improve the quality of poultry feed in countries such as China, India, and Brazil are likely to contribute to global poultry feed market growth. Furthermore, the absence of any religious implications on poultry meat that are linked with beef and pork drives market expansion. However, an increase in the prevalence of poultry diseases such as avian flu is projected to limit the market growth.

The global poultry feed market analysis is segmented based on nature, feed type, distribution channel, and region. Depending on feed type, the market is classified into complete feed, concentrates, and premix. Complete feed is a mixture of various concentrate feed ingredients in suitable proportion. Commonly used ingredients in poultry feed include grains, barley, maize, minerals and vitamins among others. This nutritional feed consists of grains, and protein supplement such as soybean meal, maize, along with added minerals and vitamins. The nutrition or feed requirement of poultry birds depend on various factors such as age, weight, rate of egg production, growth rate, and climatic condition among others. Thus, the above factors have resulted into wide variety of feed formulations. The cost of complete feed is also low mainly due to low cost of ingredient and higher production that is expected to escalate the market growth.

According to the FAO, annual meat consumption in China alone is expected to rise from 50 kilograms per capita today to 70 kg per capita by 2030. Furthermore, surge in urbanization and increase in disposable income in the region are likely to be the primary market drivers. Furthermore, an increase in government attempts to expand meat production to meet rise in food demand is likely to drive market expansion.

KEY FINDINGS OF THE STUDY

• Based on nature, the organic segment is expected to grow at a CAGR of 7.5% from 2022 to 2031.
• Based on feed type, the complete feed segment was the highest contributor to the global poultry feed market in 2021, and is projected to grow at a CAGR of 5.9%.
• According to Poultry Feed Market Trends Analysis, the concentrates segment is expected to grow at a CAGR of 8.7% from 2022 to 2031.
• According to the Poultry Feed Market Opportunities Analysis, the premix segment is estimated to register a CAGR of 8.0% from 2022 to 2031.
• Asia-Pacific held the largest market poultry feed market share in 2020, and is expected to grow at a CAGR of 7.4% from 2022 to 2031.

The key players operating in the poultry feed industry profiled in this report include Cargill Inc., Cargill Inc., Land O’Lakes, Inc., Tyson Foods, Inc., Alltech, ADM Animal Nutrition, Perdue Farms Inc., J.D. Heiskell & Co., Kent Nutrition Group, Inc., Hi-Pro Feeds, Inc., and Southern States Cooperative.