The scope of our recent study on the “Poultry Feed Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type (Layers, Broilers, Turkeys, and Others), Form (Mashed, Pellets, Crumbles, and Others), and Category (Organic and Conventional)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The poultry feed 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. 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.
Based on poultry type, the poultry feed market is segmented into layers, broilers, turkeys, and others. The broilers segment held the largest share in the market in 2020. Broilers are chickens raised for meat and are fed a high-protein diet to help support rapid growth. Broiler chicken feed comes in different forms, such as mash, pellet, and crumble. India is one of the largest broiler producers with the growing demand for compound feed in the broiler industry. The increasing broiler production will continue to boost the demand for broiler poultry feed during the forecast period.
Based on form, the poultry feed market is segmented into mashed, pellets, crumbles, and others. The pellets segment held the largest share in the market in 2020. Pellet feed is made by using steam and pressure to compress mash feed. Mash feed is compressed and molded into hard, dry pellets in a pellet mill. The pellet feed improves growth rate in broilers with an increased feed intake. This is due to increased digestibility, decreased ingredient segregation, and increased palatability. As the ingredients are well mixed in each pellet, pellet feed ensures a well-balanced diet, better feed conversion, and performance in poultry birds. The pellet feed advantages, such as easily digestible feed, a well-balanced diet, and less waste, usually contribute to its high demand.
The global poultry feed market is segmented into five main regions-North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South and Central America. In 2020, Asia-Pacific held the largest share of the global market. With a large base of poultry meat consuming population, the Asia-Pacific poultry feed market is reporting a remarkable growth and is expected to continue to do so over the next few years. China and India are the two leading poultry feed producers in the world. In India, the poultry feed production industry is among the fastest-growing ones with the competition intensifying among feed manufacturers. Consumers in this region are looking for additional sources of protein-rich foods. The rise in income is altering consumer food preferences in Southeast Asia, leading to increased demand for non-vegetarian products, especially poultry products. All these factors are likely to contribute to the growth of the Asia-Pacific poultry feed market during the forecast period.
Impact of COVID-19 Pandemic on Poultry Feed Market
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 report includes the segmentation of the global poultry feed market as follows:
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.
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