Poultry Feed Market Size

Poultry Feed Market Analysis

The Poultry Feed Market size is estimated at USD 213.95 billion in 2024, and is expected to reach USD 262.81 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).

• With the increasing global population and rising demand for poultry meat across various sectors of fast-food restaurants, poultry producers across the world are ramping up their production to meet consumer demands. According to a report by the EU Agricultural and Rural Development, the consumption of poultry meat is estimated to reach 12,443.0 metric tons by 2030 because poultry is considered a cheap, healthy, and sustainable product option by consumers. Therefore, the increased production demand for healthy and nutritious poultry meat is anticipated to propel market growth.
• The rapidly increasing demand for poultry meat products is the primary factor driving the market. Poultry is considered one of the most economical sources of protein, owing to which poultry products such as eggs and meat consistently witness growth in demand. Furthermore, the rising incomes of consumers and increasing urbanization in the Asia-Pacific region are leading to increased demand for poultry products. It, in turn, is leading to the growth of the market studied.
• According to the Alltech feed survey in 2021, among feed production by animal type, the boilers accounted for 28% of total feed production, while the layers accounted for 14% of the total feed production. The survey indicated that broilers are a predominantly growing sector in the poultry species. Thus, the growing feed production is bolstering the market's growth during the forecast period.
• The increasing poultry expansion projects are further aiding the growth of the market. For instance, in April 2021, Tyson Poultry group in Arkansas invested USD 48 million to increase the poultry production capacity and meet the rapidly soaring chicken demand. The increasing investment in poultry expansion is further serving as an opportunity for the poultry feed sector growth.
• Quality and the price of feed products are emerging as the most prominent factors in the market growth. The governments are imposing various regulations to maintain the feed quality and safeguard animal health, recognizing its importance. Thus, the increasing demand for poultry meat, growing consumer income, urbanization, and rising poultry production investments are bolstering the market's growth during the forecast period.