IMARC Group, a leading market research company, has recently releases report titled “Poultry Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global poultry feed market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Poultry Feed Market
Poultry feed encompasses food that is specifically cultivated and produced to nourish chickens, ducks, geese, and other domesticated birds. It generally contains a rich source of proteins, carbohydrates, fibers, antioxidants, enzymes, minerals, antibiotics, etc. Grains, such as wheat, barley, sorghum, etc., are also utilized in the production of poultry feed. The manufacturing process usually involves selecting and blending ingredients to create a highly nutritious diet that safeguards the well-being of poultry animals and aids in enhancing the quality of end products, including meat and eggs. It plays a vital role in promoting the health of domesticated animals by providing enriched nutrients, accelerating growth and weight, developing immunity, etc.
How Big Is the Poultry Feed Market
The global poultry feed market size reached US$ 202.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 257.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
Poultry Feed Market Trends and Drivers:
The poultry feed market is primarily driven by the widespread adoption of meat products, owing to the shifting consumer dietary preferences and the inflating need for affordable protein sources. Additionally, the launch of favorable policies by government bodies for promoting the use of high-quality animal feed is further bolstering the market growth. Besides this, the growing awareness among health-conscious individuals towards the several benefits associated with consuming poultry meat, such as improved immune system, healthier hair and skin, enhanced reproductive health, better cognitive function, etc., is acting as another significant growth-inducing factor. Moreover, the rising demand for poultry products has encouraged farmers to include carefully selected ingredients in poultry feed, which is also positively influencing the global market. Apart from this, the introduction of automatic feeders and drinkers that help in improving feeding efficiency, reducing waste, preventing pest infestations, etc., is projected to fuel the poultry feed market in the coming years.
Poultry Feed Market Growth and Opportunities
The poultry feed market is experiencing significant growth and presenting various opportunities for stakeholders in the industry. The increasing demand for poultry products, such as meat and eggs, is driving the need for high-quality and nutritious feed for poultry animals. As the global population continues to grow, there is a rising need for efficient and sustainable poultry farming practices to meet the growing protein requirements. This has led to the adoption of advanced poultry feed formulations that promote optimal growth, health, and productivity of poultry birds. Additionally, advancements in technology and research have resulted in the development of specialized feed additives and supplements that improve feed efficiency and support disease prevention in poultry. Moreover, the increasing consumer preference for organic and natural poultry products has created opportunities for the development of organic poultry feed. With the expansion of the poultry industry and the focus on sustainable and responsible farming practices, the poultry feed market is poised for further growth and innovation.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Nature:
Breakup by Form:
Breakup by Additives:
- Amino Acid
- Feed Enzymes
- Feed Acidifiers
Breakup by Animal Type:
Breakup by Distribution Channel:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
AFGRI Animal Feeds, Alltech, Archer-Daniels-Midland Company, BASF SE, Cargill Inc., Charoen Pokphand Foods Public Company Limited, Chr. Hansen Holdings A/S, De Heus Animal Nutrition, ForFarmers N.V., Kent Nutrition Group (Kent Corporation), Koninklijke DSM N.V. and Novus International Inc. (Mitsui & Co. (U.S.A.) Inc.).