Market Scenario
The global poultry feed market size is set to witness a phenomenal growth with a steady CAGR during the forecast period (2016-2027). Growing population and increase in disposable income levels are primary factors drive driving the market growth. Moreover, demand for better quality of meat and dairy production also help with the market growth. Many economies are exhibiting market growth due to government investments and competitive feed prices. Furthermore, Awareness about dietary proteins and price hike of substitute products like such as pork and beef also propel the poultry feed market growth.
Increasing consumption of processed poultry products has led to a shift towards increased processing of birds. leading to increased Awareness and demand for of balanced diets among health-conscious consumers, thereby can creating create opportunities for the poultry feed manufacturers. Also, Avian disease outbreaks in the poultry industry have created a vast demand for poultry feed, in turn affecting the poultry feed market positively. In addition, multiplying domestic and international quick-service restaurants and demand for quality meat products has significantly contributed to the need for poultry feed, further opening new avenues in the future.
Though, increasing number of diseases such as bird flu could potentially undermine the growth of the market. However, various government schemes are implemented to ensure better health of poultry birds and keep them disease free. For instance, Poultry Venture Capital Fund Scheme was promoted by National Bank for Agriculture and Rural Development (NABARD) in India, to improve production of poultry products, and provide quality meat to consumers in hygienic conditions and assists farmers, individual entrepreneurs, and non-governmental organizations (NGOs).
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Market Segmentation
The market for global poultry feed market is segmented based on source, form, and type.
Based on source, the global poultry feed market is segmented into coarse grains, vegetable proteins, animal proteins, micro-ingredients, and others. Consistent growth in worldwide population and increase in consumer’s income levels has have increased the demand for healthy animal proteins around the world. This demand for animal protein has propelled the growth of the poultry feed market globally.
By form, the global poultry feed market is segmented into mash, pellets, crumbles, scratch grain, and others. Pellets reduce waste of chicken feed, reduced probabilities of Salmonella, E. coli, and more other diseases., and It also considerably reduces poultry feed cost. These factors drive the market for pellet poultry feed globally.
Based on type, the global poultry feed market is segmented into layers, broilers, and dual-purpose. Broilers type for poultry feed is hugely favorable due to increase in new cases of influenza at turkey and egg production farms leading to high demand for broilers. Broilers are being increasingly preferred instead of other meats like such as mutton, beef, and pork in countries like such as India, . and Government funding makes the can boost the broiler poultry feed market growth substantially.
Regional analysis
Globally, the poultry feed market has been expanding at a faster rate and in manageable proportions that is increasing the presence of the Asia-Pacific region in the global market with a market share of about 42.07% in the year 2018, with the rising meat consumption. The countries such as India and China are the highest adopters of poultry feed, as the domestic animals are the major sources of income, whereas the cattle owners are now inclined on feeding quality products to their animals for better productivity. The demand for meat consumption has increased and the poultry farmers are also understanding the nutritional benefits of poultry feed.
Industry news
Maher Feed in Highland and Holly are doing their bit to help support farming during coronavirus outbreak. The reason the company is able to be open throughout this time is that they feed more than 25 and 30 tons of products into on a weekly, including horses, poultry, birds, dog food, said owner Mike Maher.
