Market Trends of north america feed additives Industry
Higher consumption of poultry meat than red meat and the United States is globally largest producer of eggs and poultry meat is driving the demand for poultry production
- The North American poultry industry experienced significant growth in the last five years, with the poultry headcount increasing by 5.0% from 2017 to 2022. This growth is due to the increasing demand for poultry meat and other poultry products. The United States dominated the region's poultry industry and was the world's largest producer and second-largest exporter of poultry meat and a major egg producer in 2022. The United States accounted for 62.0% of the region's poultry production in 2022. The high-profit margins in the industry are attracting new poultry producers, leading to an increase in the number of producers. For instance, the number of egg producers in Canada increased from 1,062 in 2016 to 1,205 in 2021.
- Poultry birds, especially broiler meat, are produced in large quantities due to their quick maturity and market weight, which is faster than other livestock. Poultry birds, including broilers, can be raised in small spaces, making it possible for producers to raise poultry in small plots of land. These advantages make poultry production more feasible. As a result, Mexican poultry production increased by 12% in 2022 from the previous year.
- Poultry has become one of the most consumed livestock commodities in the region. Poultry meat consumption is significantly higher than beef or pork but less than total red meat consumption. More people are choosing poultry as a leaner, healthier source of protein due to the rising health risks linked to eating red meat. This trend is expected to continue, driving the growth of the poultry industry in the region. The increasing demand for poultry products from both domestic and international markets and rising poultry production are expected to further drive the market's growth during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
Expansion of retail industry and demand for high-quality seafood is increasing the demand for macro-nutrients and micro-nutrients rich aquaculture feed
- Aquaculture feed production in the North American region accounted for a small share, accounted for 3.8% in 2022. However, the demand for various seafood products is driving local production, and feed production grew by 9.2% between 2017 and 2022. To the meet growing demand for nutritionally balanced feed, feed millers in the region are expected to increase production from 2.2 million metric tons in 2022 to 2.6 million metric tons in 2029. The compound feed offered to aquaculture species contains the macro- and micronutrients needed for healthy growth under intensive rearing conditions, which is contributing to the increased demand for aquaculture feed in the region.
- Fish accounted for 73.2% of feed production in 2022, and is a major segment among aquaculture species. The rising awareness of the health benefits of fish in the human diet, changing food consumption patterns, the expansion of the retail industry, and high demand in the international market are contributing to the growth of fish production in the region. Fish feed production is expected to increase from 1.6 million metric tons in 2022 to 1.9 million metric tons in 2029 as producers focus on nutritional management to ensure the health and performance of their animals.
- Canada's aquaculture producers spent USD 393.8 million on feed in 2020, recording a 6.6% increase over 2016, demonstrating the increasing demand for high-quality aquatic food. The inability of wild stocks to meet this demand provides an opportunity for aquaculture production, contributing to the growth in feed production. The increasing demand for diverse seafood products and the need for nutritionally balanced feed for aquaculture species are expected to drive the growth of aquaculture feed production in the region over the coming years.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Ruminants population is increasing due to high export potential of beef for food processing industries and the United States account for 54.9% of region's population
- North America is second largest global poultry feed producer with the rising profitability of broiler chicken production and increased demand for poultry products such as meat and eggs
- The United States being a significant producer of swine feed and compound feed producers investing to increase production are expected to drive the growth of swine feed production
- United States dominating the swine population and Canada being third largest exporter of live pigs and pork will help in increasing the swine population to meet the demand for protein rich meat
- High demand for nutrition rich feed for high yield and increased beef cattle production are driving the demand for ruminants compound feed
