December 5, 2019

Poultry Feed Market Worldwide Analysis, Future Growth, Business Prospects and Forecast to 2024

Market Analysis

Global Poultry Feed Market is set to witness a phenomenal growth during the forecast period (2016-2024). Growing population and increase in disposable income levels are primary factors driving the market growth. Moreover, demand for better quality of meat and dairy production also help with the market growth. Awareness about dietary proteins and price hike of substitute products such as pork and beef also propel the poultry feed market growth.

Though, increasing number of diseases such as bird flu could potentially undermine the growth of the market. However, various government schemes are implemented to ensure better health of poultry birds and keep them disease free.

Major Key Players

The key players in Poultry Feed Market are BASF SE, Evonik Industries, Archer Daniels Midland Company, Alltech, Cargill, Kemin Industries, Novozymes, Chr. Hansen, and others.

Archer Daniels Midland Company and DuPont Industrial Biosciences are collaborating to develop, produce, and market cellulase enzymes for operators of grain-based ethanol plants. Cellulase enzymes improve the nutritive value of alfalfa for poultry feed. This development will encourage producers to use technology in order to utilize non-starch components of grains and other waste products in the production of biofuels and increase their capacity by relying on bio feedstock. This collaboration will enable both the companies to work together to achieve a common purpose of developing quality poultry feed and also aid the poultry feed market growth.

Industry Segment

The market for Poultry Feed Market is segmented based on Source, Form and Type.

Since source, the poultry feed market is segmented into Coarse Grains, Animal Proteins, Vegetable Proteins, Micro-Ingredients and others. Consistent growth in worldwide population and increase in consumer income levels have increased the demand for healthy animal proteins around the world. This demand for animal protein has propelled the growth of the poultry feed market globally.

By form, the global poultry feed market is segmented into mash, pellets, crumbles, scratch grain, and others. Pellets reduce waste of chicken feed, reduced probabilities of salmonella, E. coli, and other diseases. It also considerably reduces poultry feed cost. These factors drive the market for pellet poultry feed globally.

Based on type, the market is segmented into layers, broilers, and dual-purpose. Broilers type for poultry feed is hugely favorable due to increase in new cases of influenza at turkey and egg production farms leading to high demand for broilers. Broilers are being increasingly preferred instead of other meats such as mutton, beef, and pork in countries such as India. Government funding can boost the broiler poultry feed market growth substantially.

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Regional Analysis

As per MRFR’s report, the global Poultry Feed Market is spread across Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).

On the other hand, Asia Pacific and Europe are growing markets and estimated to grow at a remarkable CAGR respectively during the forecast period. In the Asia Pacific region, growing population, preference for poultry products, high profit from import and export of poultry products support the demand, in turn leading to stellar market growth in this region.