The global poultry feed market size is likely to be valued at USD 238.9 billion by 2025, growing at a CAGR of 4.5% over the forecast period, as per a new report by Grand View Research Inc. This can be attributed to the rising demand for poultry farming products such as chicken meat and eggs globally.
Poultry is considered as one of the most economical sources of protein, therefore, poultry products such as egg and meat are consistently witnessing growth in their demand. The market is likely to witness strong growth owing to increasing demand for protein-rich diet and increased production of feed across North America. The presence of well-established industry is another major driver triggering the product demand and, in turn, the overall market growth.
The market is fragmented and competitive with the presence of major global players. In the U.S., nearly 35 companies (federally inspected) are engaged in raising, marketing, and the processing of chicken. These companies are vertically integrated throughout the poultry value chain to ensure the quality of feed product.
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Brazil, the U.S., India, Mexico, Colombia, Thailand, and Russia registered the highest growth rate, in terms of chicken production, between 2014 and 2018. Demand for poultry products heavily depends upon the population and income factor. According to the Food and Agriculture Organization (FAO), the consumption of milk, eggs, and meat in low and middle-income economies increased by more than 300% in the last 30 years.
Nutrition and animal feed is the essential link in the livestock value chain, i.e. between animal protein production, crop cultivation, and processing. Different species are reared across various regions for different purposes including protein, milk, meat, etc. Feed production types vary across regions and largely depend on animal population and economic importance of these animals in that particular region.
Emphasis on producing quality products at lower cost emerged as a major challenge for poultry feed producers owing to which they are now focusing on increasing their presence across the value chain. Additionally, large-scale or mass production emerged as one of the most prominent strategies adopted by key players to reduce per unit cost of the final product. To keep the prices in manageable proportion, producers are likely to increase their presence in raw material production, which is further projected to change the procurement strategies in the market.
Further key findings from the study suggest:
- In terms of volume, the poultry feed market is likely to be valued at 604.5 kilotons by 2025
- In terms of revenue, Asia Pacific emerged as the fastest-growing region across the globe in 2018
- Broilers emerged as the largest segment in the market with a share of over 60% both in terms of volume and revenue
- Royal DSM N.V.; Alltech Inc.; Novus International Inc.; Evonik Industries; Kent Nutrition Group, Inc.; and BASF are some of the companies present in the industry.
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Grand View Research has segmented the global poultry feed market on the basis of livestock, additives, and region:
Poultry Feed Livestock Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Poultry Feed Additives Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Amino Acid
- Feed Enzymes
- Feed Acidifiers
Poultry Feed Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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