Agriculture Industry Today
Poultry Feed Market Trend, Industry Analysis 2018 – 2027 | Size, Share, Growth, Future Scope, Leading Key Players Update and Forecast | Asserts MRFR
The global poultry feed market is set to witness a phenomenal growth during the forecast period (2016-2027). Growing population and increase in disposable income levels are primary factors driving the market growth. Moreover, demand for better quality of meat and dairy production also help with the market growth. Awareness about dietary proteins and price hike of substitute products such as pork and beef also propel the poultry feed market growth.
Increasing consumption of processed poultry products has led to a shift towards increased processing of birds. Awareness of balanced diets among health-conscious consumers can create opportunities for poultry feed manufacturers. Avian disease outbreaks have created a vast demand for poultry feed, in turn affecting the poultry feed market positively. In addition, multiplying domestic and international quick-service restaurants and demand for quality meat products has significantly contributed to the need for poultry feed, further opening new avenues in the future.
Though, increasing number of diseases such as bird flu could potentially undermine the growth of the market. However, various government schemes are implemented to ensure better health of poultry birds and keep them disease free. For instance, Poultry Venture Capital Fund Scheme was promoted by National Bank for Agriculture and Rural Development (NABARD) in India, to improve production of poultry products and provide quality meat to consumers in hygienic conditions and assists farmers, individual entrepreneurs, and non-governmental organizations (NGOs).
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Major Key Players:
The key players in poultry feed market are BASF SE, Archer Daniels Midland Company, Evonik Industries, Alltech, Cargill, Kemin Industries, Novozymes, Chr. Hansen, and others.
Archer Daniels Midland Company and DuPont Industrial Biosciences are collaborating to develop, produce, and market cellulase enzymes for operators of grain-based ethanol plants. Cellulase enzymes improve the nutritive value of alfalfa for poultry feed. This development will encourage producers to use technology in order to utilize non-starch components of grains and other waste products in the production of biofuels and increase their capacity by relying on bio feedstock. This collaboration will enable both the companies to work together to achieve a common purpose of developing quality poultry feed and also aid the poultry feed market growth.
The market for poultry feed market is segmented on the basis of source, form, and type.
On the basis of source, the poultry feed market is segmented into coarse grains, vegetable proteins, animal proteins, micro-ingredients, and others. Consistent growth in worldwide population and increase in consumer income levels have increased the demand for healthy animal proteins around the world. This demand for animal protein has propelled the growth of the poultry feed market globally.
By form, the global poultry feed market is segmented into mash, pellets, crumbles, scratch grain, and others. Pellets reduce waste of chicken feed, reduced probabilities of salmonella, E. coli, and other diseases. It also considerably reduces poultry feed cost. These factors drive the market for pellet poultry feed globally.
On the basis of type, the market is segmented into layers, broilers, and dual-purpose. Broilers type for poultry feed is hugely favorable due to increase in new cases of influenza at turkey and egg production farms leading to high demand for broilers. Broilers are being increasingly preferred instead of other meats such as mutton, beef, and pork in countries such as India. Government funding can boost the broiler poultry feed market growth substantially.
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As per MRFR’s report, the global poultry feed market is spread across North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).
Among all regions, North America is leading the market for global poultry feed market with the largest market share and projected to grow substantially till 2027. Ongoing research for flavored and safe poultry feed can fuel the market growth in this region. Also, funding and support from the government to expand the poultry sector in a bid to meet the demands of end users are deemed to open new avenues in North America.
On the other hand, Asia Pacific and Europe are growing markets and estimated to grow at a remarkable CAGR respectively during the forecast period. In the Asia Pacific region, growing population, preference for poultry products, high profit from import and export of poultry products support the demand, in turn leading to stellar market growth in this region.
Europe has exhibited rapid growth as well due to increased demand for meat and eggs, conduction of numerous research and development by industry players, and growing scientific advancements in poultry feed production. Moreover, low profitability in pig production and unstable feed prices has led to decline in pig herds, thus this decline is expected to be reflected in poultry feed production. These factors help establish the poultry feed market in Europe.