Global Poultry Feed Market Outlook

The global poultry market industry relies heavily on a well-balanced array of nutrients in their diet to ensure optimal growth and good health. Essential nutrients for poultry health include amino acids, crude protein, fatty acids, vitamins, and minerals. The nutritional requirements of birds vary based on factors such as species, age, and the purpose of raising, whether it be for meat or egg production. Commercial poultry feed formulations adhere to regulations set by governing bodies worldwide, with corn commonly used as an energy source in poultry feed.

The poultry feed market is anticipated to witness significant growth, with a projected compound annual growth rate (CAGR) of 6.4% from 2022 to 2030, reaching a market value of USD 218 billion by the end of 2030. The global production of poultry meat and eggs has consistently increased over the years, and this trend is expected to continue, driving the growth of the poultry feed market.

Drivers

The growing demand for organic meat is a key driver boosting market growth. Concerns about food and meat safety have led to an increased demand for premium chicken feed. Additionally, farm owners are increasingly aware of the importance of maintaining a healthy animal diet, further fueling market growth. Switching from standard chicken feed to functional and premium varieties can increase animals' resilience to diseases and reduce the risk of metabolic issues, acidosis, injuries, and infections.

Opportunities

Technological advances offer robust opportunities for the poultry feed market. Innovations in feed manufacturing technology have led to improvements in the quality and nutritional value of chicken feed. Techniques such as pelletizing, extrusion, and precision feeding contribute to overall better performance and more efficient nutrient absorption in poultry. These technological advancements drive the demand for specialized chicken feed products.

Restraints and Challenges

High raw material costs, regulatory bans, an increase in the vegan population, and restrictions may act as market restraints over the forecast period.

Market Segmentation

The global poultry feed market segmented based on source, type, and form.

By source, the market includes micro-ingredients, animal proteins, vegetable proteins, coarse grains, and others.

By type, the market comprises dual-purpose, broilers, and layers.

By form, the market encompasses scratch grain, crumbles, pellets, mash, and others.

COVID-19 Analysis

The COVID-19 pandemic and associated containment measures initially led to the closure of chicken feed businesses worldwide, resulting in feed shortages for the agricultural community. Disruptions in the logistical network had a severe impact on the supply of chicken feed globally. However, the growth in population and economy significantly influences the consumption of poultry products, with packaged poultry feed expected to grow faster than conventional chicken feed in the coming years, creating additional opportunities for market participants.

Regional Analysis

The Asia-Pacific (APAC) region leads the poultry feed market, driven by its large population and rising standard of living. Over the past two decades, the poultry industry in China and India has experienced significant growth in both the quantity of chicken produced and productivity per bird. The expansion of intensive systems with high food conversion ratios has contributed to higher output levels.

Key Players

Key players in the poultry feed market include Alltech, Kemin Industries, Cargill, Novozymes, Chr. Hansen, BASF SE, Archer Daniels Midland Company, and Evonik Industries. These industry players play a crucial role in driving innovation and development within the poultry feed sector.

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