Report : Poultry Feed Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Poultry Type (Layers, Broilers, Turkeys, and Others), Form (Mashed, Pellets, Crumbles, and Others), and Category (Organic and Conventional)
According to our latest market study on “Poultry Feed Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Layers, Broilers, Turkeys, and Others), by Form (Mashed, Pellets, Crumbles, and Others), and Category (Organic and Conventional),” the market was valued at US$ 124,611 million in 2021 and is projected to reach US$ 156,710 million by 2028; it is expected to grow at a CAGR of 3.3% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Poultry feed is produced from various raw materials, such as cereal and grains, cakes or oil meal, and feed additives. The nutritional requirements of the poultry feed depend on the weight and age of the poultry, their rate of growth, and the rate of egg production. The increase in the consumption of poultry products among consumers is boosting the poultry feed market.
The poultry sector is registering a continual rise across the world. Poultry is regarded as one of the most cost-effective protein sources due to which the demand for poultry products, such as eggs and meat, continues to rise. There is a surge in chicken consumption among people who are more concerned about their health. The upswing in the poultry production is catering substantially to the bolstering need for the global population. According to the Food and Agriculture Organization (FAO) of the US, the world poultry meat production has increased from 9 to 132 million tons between 1961 and 2019, and egg production has grown from 15 to 90 million tons. The surging poultry production propels the use of quality poultry feed products.
A few major players operating in the global poultry feed market are ADM; Cargill, Incorporated.; Alltech.; Charoen Pokphand Foods PCL; ForFarmers; Kent Corporation; SHV Holdings; Land O'Lakes, Inc.; AFGRI Animal Feeds; and De Heus Animal Nutrition.
The ongoing COVID-19 pandemic compelled the implementation of preventive measures that drastically altered the status of the animal feed industry and negatively impacted the growth of the poultry feed market. Governments across the globe have ordered the closure of their international ports, further causing disruptions in the poultry feed supply chain. The COVID-19 pandemic impacted the availability of raw materials to prepare poultry feed in almost all countries. Corn and soybeans are the main ingredients in poultry feeds. Many countries worldwide that depend on imports of these raw materials to prepare poultry feed have had substantial problems procuring the ingredients. The availability of poultry feed in most places was difficult due to the shutting down of the feed plants. The worldwide consumption of poultry meat declined drastically. The poultry feed industry has been badly affected by the closure of restaurants across the world. However, as the economies are planning to revive their operations, the demand for poultry feed is expected to rise globally. The expanding demand for poultry feed and significant investments by prominent manufacturers are expected to drive the growth of poultry feeds.
The poultry feed market, by poultry type, is segmented into layers, broilers, turkeys, and others. By form, the market is segmented into mashed, pellets, crumbles, and others. Based on category, the global poultry feed market is bifurcated into organic and conventional. By geography, the global market is broadly segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South and Central America. By country, the market in North America is further segmented into the US, Canada, and Mexico. By country, the market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. By country, the market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. By country, the market in Middle East & Africa (MEA) is sub segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Based on country, the market in South and Central America is further segmented into Brazil, Argentina, and the Rest of South and Central America.