Poultry Feed Market Trends: What’s Driving Growth Worldwide
The global poultry feed market is experiencing substantial growth, with a steady annual demand increase of 14%-15%. This surge is primarily attributed to shifting consumer preferences towards high-protein diets, driven by improving incomes, urbanization, a growing fitness-conscious population, and increased awareness of protein-rich diets for weight management and disease prevention.
Growing Protein Craze in the U.S.
In 2018, the United States alone witnessed a market worth a staggering US$17 billion for protein, highlighting the remarkable rise in demand for protein-rich foods. The United Nations Food and Agriculture Organization (FAO) reported a global poultry count of nearly 27.9 billion in 2019, signaling a significant shift towards protein-focused diets. This change is directly impacting the global poultry feed market, with an added boost from the introduction of gourmet meat dishes in hotel, restaurant, and quick-service restaurant menus.
A Shift Towards Natural Feed
Consumers’ preference for antibiotic-free poultry products is driving the demand for natural poultry feed. Awareness about the health implications of antibiotic-fed meat and the implementation of stringent regulations are expected to further propel the market. For example, Park Agrotech Ghana Limited introduced ‘Lay More,’ a high-potency poultry feed range aimed at increasing poultry yield, while Greenlife Company Limited launched ‘Chicken Protector,’ a poultry feed designed to enhance chicken health and meat quality.
The Vegan Challenge
Despite the significant growth in the poultry feed market, there are challenges. Health-conscious consumers and concerns for animal welfare are leading to a rise in interest in plant-based proteins like pea and soy. Vegan diets are gaining popularity as a solution to food chain biomagnification. Developed economies, in particular, are embracing this trend due to the accessibility and affordability of meat alternatives and dairy substitutes.
Broiler Chicken Dominates the Market
The global poultry feed market is segmented by poultry type, format, feed type, and region. The broiler segment is expected to lead the market, driven by the increasing consumption of chicken in various forms. Chicken, as a staple part of many diets, including frozen and fresh meat, continues to boost this segment’s growth.
Corn-Based Feed on the Rise
Among feed formats, corn-based poultry feed is gaining significant traction. It offers high nutritional content, including high protein and low fiber, making it easy for poultry to digest. Corn is a sustainable, cost-effective, and widely available alternative, making it a preferred choice. The USDA reports that a significant portion of farm animal rations in Kenya consists of 60% to 80% corn.
Asia Pacific Emerges as a Potential Market
Asia Pacific, including countries such as India and China, stands out as one of the largest poultry meat producers globally. The region has witnessed a surge in poultry product exports, with India alone exporting nearly 544,985.06 MT of poultry products between 2018 and 2019, marking an annual growth rate of 20%. Demand for poultry feed is expected to remain strong in emerging economies with increasing disposable incomes, a growing fitness culture, and a focus on nutrition.
Challenges in Europe
Conversely, the European poultry feed market is projected to experience slower growth due to rising concerns about animal welfare and the use of antibiotics. Consumers in the region are turning to plant-based protein diets and veganism, which could impact market growth.
Key Players in the Global Poultry Feed Market
Prominent players in the global poultry feed market include Cargill Incorporated, Associated British Foods plc, Godrej Agrovet, Novus International, Inc., Evonik Industries AG, De Heus BV, Purina Animal Nutrition LLC, Charoen Pokphand Foods, ForFarmers, and Invivo.
Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2026) https://www.fairfieldmarketresearch.com/report/poultry-feed-market
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