Market Scope
Market Research Future (MRFR) studied the global poultry feed market 2022 for the analysis period till 2030. As per MRFR study, the global market of poultry feed is expected to surge at 6.4% CAGR over the review period. By 2030, the poultry feed market value is likely to touch USD 218 Billion. The report details insights into the poultry feed market that offers customers a well-researched, reliable study of the market. The in-depth understanding of these market growth dynamics assists investors in every step to thrive.
Drivers and Restrains Impacting Poultry Feed Market
The rise in adoption of modern methods of domestication of animals by poultry farms to cater to the upscaling demand for poultry products is observed to support the expansion of the poultry industry. Thus, with the need to maintain poultry animals is increasing, promoting the growing need for poultry feed, which, in turn, can support the market rise.
Poultry feed is not only responsible for raising high-quality poultry, but its quality is also responsible for the health of humans consuming them. Thus, the inclination of poultrymen towards boosting the quality of poultry feed and the rise in demand for fortified feed to increase nutritional value can support expansion of the poultry feed market in the years to come.
The easy availability of stock for the production of feed, globalization, and improvement in living standards of consumers are creating potential prospects for both existing and new companies to earn high revenue. The surge in manufacture practices of poultry feed and the rise in the demand for improved product that offer better yield can favor the market in the approaching years.
The growing demand for poultry feed can is due to the surge in demand for poultry food as fitness conscious increase among people. The change in diet consumption and surge in awareness about the benefits of a well-balanced diet are other causes that can drive the market of poultry feed in the years to come. The increase in profitability of the poultry business has also encouraged new players to enter the poultry feed market.
On the contrary, rise in cases of bird flu and related diseases can curb the demand for poultry products, which can hinder the upsurge of the poultry feed market in the years to come. The low shelf-life of agricultural products applied in the making of poultry feed, along with mounting expenditure of important raw materials can also pose threat to the market. However, government investing in taking measures for development hygienic infrastructure for livestock business and the need to mitigate risk arising from such infectious disease can counter the poultry feed market soon.
Segment Assessment of Poultry Feed Market
The segment study of global poultry feed market is based on poultry type and form.
The poultry type-based segments of the global poultry feed market are layers, broilers, and turkey among others. The layers segment can significantly benefit poultry feed market growth.
The form-based segments of the global poultry feed market area mash, crumbles, and pellets, others.
Regional Study of Poultry Feed Market
In Asia Pacific, poultries are intensively reared to deliver balance array of nutrition in diet of people. The adoption of digital technology the poultry sector and their increasing utility to find stock and manage poultry feed are cause that can support the APAC poultry feed market. The adoption of disruptive technology transforming the poultry sector can prompt the expansion of the poultry feed market in the years ahead. The introduction of fortified poultry feed, enriched in necessary nutrients, such as; fatty acids, amino acids, vitamins, minerals, and crude protein among others can support the regional market rise. In population dense regions, such as; India and China, the poultry feed market is expected to support the market rise in the near future. In western regions, such as; North America and Europe, the market of poultry feed is likely to augment at healthy growth rate as more and more people are becoming health conscious.
Key Players of Poultry Feed Market
Alltech Inc. (US), De Heus B.V. (Netherlands), Archer Daniels Midland (US), Charoen Pokphand Foods PCL (Thailand), Cargill Inc. (US), Land O’ Lakes Inc. (US), ForFarmers N.V. (Netherlands), NEOVIA Group (France), Nutreco N.V. (Netherlands), and BASF SE (Germany) are some reputed key poultry feed market players that are listed by MRFR in the recent report.
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