Poultry Feed Market Demand is slated to account for US$ 228.1 billion in value by 2033

May 21, 2024 - 10:39

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Poultry Feed Market Demand is slated to account for US$ 228.1 billion in value by 2033

According to Fact.MR, a market research and competitive intelligence provider, the global poultry feed market, valued at US$ 123.5 billion in 2023, is projected to reach US$ 228.1 billion by 2033, reflecting a robust compound annual growth rate (CAGR) of 6.3%. This growth is driven by the increasing demand for protein-rich diets, with chicken and eggs becoming preferred protein sources worldwide.

Factors Driving Growth in the Poultry Feed Market

Several factors contribute to the growth of the poultry feed market. These include the implementation of strict food safety regulations, changing consumer preferences, an expanding global population, an increase in the consumption of chicken meat and eggs, a preference for organic animal feed, a rise in per capita disposable income, globalization, and investments in the poultry feed industry. Additionally, the adoption of modern poultry systems is expected to boost sales of automatic chicken feeders and water feeders for chickens.

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Key Segments of Poultry Feed Industry Research Report

By Product Type : Broiler, Layer, Others
By Source : Corn, Wheat, Soybean, Blend Grains, Others
By Form : Powder, Granules/Particles, Pellets, Briquettes
By Nature : Organic , Conventional
By Sales Channel : Direct Sourcing, Indirect Sourcing
By Region : North America, Latin America, Europe, APAC, MEA

Poultry Feed Industry: Soybeans as the New Protein Powerhouse?

Key poultry feed products such as chicken layer feed, hen feed, chicken scratch feed, broiler feed, quail feed, and chick starter feed are expected to maintain robust demand. However, changing mandates on feed additives and consumer preferences for fish and meat may pose challenges to poultry feed consumption.

The market is segmented by source, with soybeans gaining popularity due to their rich nutrient profile, surpassing corn in protein content and amino acid profile. While corn remains a staple in chicken farms, the increased demand for high-protein poultry feed is expected to impact the dominance of corn in the coming years.

From North America to APAC: Trends and Opportunities in Poultry Feed

In 2022, North America accounted for more than 30% of the global market revenue for poultry feed, with the United States being a major contributor. The Asia-Pacific region is expected to experience the highest compound annual growth rate (CAGR), driven by evolving dietary preferences and growing awareness of protein-rich diets.

The United States expects an increase in the consumption of chicken and eggs due to their high nutritional value. The detection of poultry diseases is also expected to contribute to an increase in the shipment of poultry feed.

Japan’s dependence on imported animal feed creates profitable opportunities for worldwide poultry feed suppliers. The Japanese culture’s reliance on poultry meat and eggs further amplifies the demand.

In Germany and the United Kingdom, health-conscious consumers are driving the demand for poultry products that are rich in protein. The adoption of sustainable cattle rearing and changing consumer preferences favor the demand for poultry feed in these European countries.

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Competitive Landscape

Poultry feed enterprises are actively engaging in sustainable practices, devising innovative approaches to produce animal feed with minimal environmental impact and a reduced carbon footprint during manufacturing.

In November 2022, ForFarmers, a prominent Dutch agricultural feed organization, unveiled plans to utilize alternative raw materials and food waste for crafting novel animal feeds. This strategic initiative aligns with the growing demand for sustainable agricultural practices, reflecting the industry’s commitment to environmental responsibility.

Simultaneously, poultry feed providers are channelling investments into expanding their production capabilities to address the escalating demand from diverse global regions.

Adding to the momentum, Alturas Group of Companies, a versatile player in agricultural manufacturing, bolstered its commitment to the sector. In November 2022, the company increased its investments in agriculture by inaugurating a cutting-edge feed mill at Marcela Farms in Ubay, Bohol. This expansion underscores the industry’s dedication to meeting the burgeoning demand for high-quality poultry feed while fostering sustainable and environmentally conscious practices.

Key Companies Profiled