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Poultry Feed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 126 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5572756
UP TO OFF until Dec 31st 2023

Quick Summary:

The poultry feed market stands as a pivotal and ever-evolving industry, displaying robust signs of growth. Fluctuations in this market hold significant ramifications for livestock farmers, the food industry, and end consumers, making understanding its trajectory essential for key decision-makers. However, navigating the complexities of this global market requires comprehensive, accurate, and up-to-date information. This is where our market research report becomes an indispensable asset.

Our report offers an in-depth examination of the poultry feed market, taking into account a range of crucial factors driving market growth. These include the increase in industrial livestock production, rising demand for organic feed, and the escalating global consumption of poultry meat. The detailed analysis also delves into variant geographical trends across regions like the Asia-Pacific, offering an enriched understanding of your specific markets of interest. With this report, you are equipped to make well-informed strategic decisions, bound to fortify your position in the market.

The poultry feed market is projected to register a CAGR of 4.2% during the forecast period.

The COVID-19 pandemic and restrictions aiming to contain it led to the shutdown of poultry feed companies across the globe in the initial phase, which in turn, resulted in the shortage of feed for livestock farmers. Hence, the initial COVID-19 lockdown caused disruptions in the logistics system, which affected the supply of poultry feed across the globe. However, the poultry feed market grew in the later phases due to exemptions from lockdown restrictions and an increase in poultry meat consumption.

The increasing demand for poultry meat products is the major and long-term factor driving the market. The increasing industrial livestock production and the increasing demand for organic feed are two other factors augmenting the growth of the market studied. As poultry requires 60% protein, 13% fat, and 3% calcium, the required nutrient content is met majorly by poultry by-products and fish meal. Approximately 50% of the live market weight of ruminants and 30% of poultry is the by-product. These by-products are rendered, ground, and available as a feed source for poultry. Poultry meat is a growing trend on the global front, and the consumption increased from 45,033 metric ton in 2018 to 45,938 metric ton in 2020 (OECD, 2021). Thus, the demand for poultry feed is projected to increase over the forecast period to meet the specific feed requirements.

Poultry Feed Market Trends

Increasing Demand for Poultry Meat Products

The poultry sector is one of the fastest-growing meat sectors, owing to the increase in poultry meat consumption. Increasing the productivity of poultry is critical to feeding the growing global population. However, high feed prices are acting as a restraint to the poultry feed market. The global poultry meat production is growing, with two-thirds of the increase originating in the Asia-Pacific region. The US consumption of poultry meat is also increasing, as it is considered a convenient product that is easily available in the market. In China and India, the demand for livestock products has been increasing due to rapid economic growth. Factors such as population, real income growth, price of poultry meat, which is relatively cheaper than other meat, and changes in dietary preferences of consumers are influencing the per capita consumption of poultry meat across the globe, which is expected to fuel the market growth of poultry feed during the forecast period. According to OCED Agricultural Outlook, 2020, the per capita consumption of poultry meat in the world increased from 13.86 in 2017 to 13.92 in 2020. The increased average income and the steady economic growth in countries have caused a shift in the consumer preference towards protein-filled diet, which in turn resulted in increased the demand for poultry meat.

Asia-Pacific Dominates the Market

The poultry sector in China and India experienced vigorous growth over the past two decades in terms of poultry numbers and the level of output per bird. Higher levels of production are associated with the spread of intensive systems in which food conversion ratios are high.

In the year 2019, the Indian commercial feed industry largely caters to the poultry sector at around 70-75%. The country’s commercial feed production was at nearly 39 million metric tons. Poultry feed garners the highest share in the country’s feed production, accounting for nearly 24.9 million metric tons in 2019.

The demand for poultry feed continues to be high in emerging economies of Asia-Pacific in countries like China and India. This leads to the increasing use of quality feed for a higher poultry population. Also, the global poultry meat production is growing, with two-thirds of the increase originating in the Asia-Pacific region.

Poultry Feed Market Competitor Analysis

The poultry feed market is fairly fragmented, with the presence of various participants across several regions. The market studied displays unique characteristics, such as very few large manufacturing companies and a highly unorganized market with several regional players with small market shares. The leading companies are focused on acquiring feed mills and small manufacturing facilities for the expansion of their businesses in domestic and international markets.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 Animal Type
5.1.1 Layer
5.1.2 Broiler
5.1.3 Turkey
5.1.4 Other Animal Types
5.2 Ingredient
5.2.1 Cereal
5.2.2 Oilseed Meal
5.2.3 Molasses
5.2.4 Fish Oil and Fish Meal
5.2.5 Supplements
5.2.6 Other Ingredients
5.3 Geography
5.3.1 North America United States Canada Mexico Rest of North America
5.3.2 Europe Spain United Kingdom France Germany Russia Italy Rest of Europe
5.3.3 Asia-Pacific China India Japan Australia Rest of Asia-Pacific
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle east and Africa South Africa Saudi Arabia Rest of Middle east and Africa
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Charoen Pokphand Foods
6.3.2 Cargill Inc.
6.3.3 Alltech Inc.
6.3.4 Archer Daniels Midland
6.3.5 De Heus BV
6.3.6 Land O Lakes Inc.
6.3.7 ForFarmers
6.3.8 Nutreco NV
6.3.9 Kent Feeds

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Charoen Pokphand Foods
  • Cargill Inc.
  • Alltech Inc.
  • Archer Daniels Midland
  • De Heus BV
  • Land O Lakes Inc.
  • ForFarmers
  • Nutreco NV
  • Kent Feeds