The market is expected to grow from USD XX billion in 2016, to USD XX Billion market by 2022, growing at a CAGR of over 2.7% during the forecast period. Poultry is the largest meat production segment in the global meat industry. Poultry meat is universally consumed and, unlike beef and pork, that has limited impact from religious preferences. Globally poultry meat production is expected to increase from 95.7 million tons in 2011 to 124.6 million tons by 2017.
The growth of poultry feed market is directly related to the poultry meat demand and consumption, which has become a preferable choice for animal protein around the globe. The end consumers of poultry feed are compound feed manufacturers, integrators, farmers, home-mixers, and poultry meat industry.
Increase in poultry consumption is linked to factors like population growth, improvements in incomes, chicken prices relative to those for competitive meats and dietary preferences. Growth of poultry feed market thus is attributed to the high popularity of poultry meat across regions, increasing awareness for healthy meat and cost efficiency of production etc. The main obstacle in the growth of poultry feed market are the rising cost of important raw materials and price volatility of agricultural commodities used for manufacturing of poultry feed. Growing preference for poultry meat in Asian and South American countries like India, China, and Brazil etc. would help the market to grow substantially.
This study categorizes the global poultry feed market based on ingredients, supplements, and geography; forecasting revenues and analyzing trends in each of the submarkets. Cereals are the most widely used ingredients in poultry feed accounting for 42% of the total feed market consumption. Feed additives/supplements is estimated to be the fastest growing segment due to the increased demand from Asia-Pacific region. Vitamins are the most widely used additives in poultry feed accounting for around 25% of the total feed additives market volume.
North America is one of the largest consumers of poultry feed and feed additive driven by high growth potential in the Mexican and Canadian markets. The highest poultry production is expected in developing parts of the world such as China and Brazil because of rising living standards, production cost benefits, and strong export and domestic demand. The poultry industry in these countries also benefits from lenient feed related regulations.
The major manufacturing companies such as Kent Feeds, Land O Lakes, and Cargill are focusing on increasing efficiency and reducing cost of production. Acquisition and partnership are the approaches used to achieve above-mentioned goals.
Key Deliverables in the Study