Global Poultry Feed Ingredients Market By Type (Cereal Grains,Protein Meals), By Application (Farm, Household), By Region, And Segment Forecasts, 2023 to 2029

In 2023, the worldwide poultry feed market was worth $121.3 billion. It is forecasted that it will increase to 236.3 billion dollars by 2033 at an annual growth rate of 6.9%, from 2024 through 2033. Increased consumer income levels have contributed towards higher standards of living, thereby increasing demand for poultry feed. Apart from that, this call has also been fueled by a rise in the city life which leads to higher poultry feed consumption especially in places of work like offices as well as hypermarkets.

Drivers: Increasing emphasis on animal health

A critical factor driving the poultry feed market is a growing emphasis on animal health. To keep up with increased cow care, more poultry feed must be sourced and it is driven by higher humankind's need for animal output. Furthermore, the rising awareness among the public regarding the advantages of feed additives in reducing diseases is contributing to a rise in market demand.

Restraints: High cost of raw materials

Protein prices have increased dramatically over the past year due to increased demand for meat substitutes in the marketplace especially among vegetarians. Meat substitutes manufacturing companies therefore have had no other option but to hike the prices of their products to recover the increased cost. Environmental issues about waste management and emissions from poultry operations also imply stricter regulations and increased production expenses. In addition, avian influenza among other diseases can break out at poultry operations resulting in lowered profits hence high financial losses caused by constrained trade, decreased output and killing of birds.

Opportunities: Rise in demand for organic meat

A surge in consumer demand for high quality poultry feeds has been attributed to fears concerning food safety as well as the desire to protect people from consuming adulterated meat produce. Consequently, this situation has been created by the increment in knowledge among farmers that a healthy diet is necessary for the well-being of animals which has moved them from ordinary to special kinds. These rations improve not only the ability of animals to resist diseases but also lower the chances of infections, injuries, metabolic disorders, and acidosis. The requirement for organic meat is increasing more specifically in industrialized countries and this is prospects for the industry are even brighter due to advanced animal husbandry practices that have been instituted and strict farming rules imposed.

Market by System Type Insights:

The global poultry feed market was dominated by the entire feed category in 2021 which is a trend that is expected to continue. This is because providing poultry birds with a complete diet using feed is cheap and has positive effects. Similarly, even large or small farms can prepare their feed as in case of complete feed; thus, the premix area is projected to develop rapidly; it offers the same advantages as the full diet option.

Market by End Use Insights:

Poultry feed ingredients are used mainly by commercial chicken producers in formulating diets that are well balanced for optimum growth, health and productivity of chicken animals. These components are chosen to have maximum benefit in terms of diet necessities for various chicken species including layers, broilers and breeders. Small scale poultry keepers at home or three-house poultry keeping projects consume plenty of poultry feed substances, frequently utilizing self-made or locally procured meal mixtures. As regards to this is a group of consumers that is turning to feed materials tailored towards organic and free-range birds breeding modes, thus using natural and non-genetically modified organism contents that emphasize on as well as meeting the increased need for organic and niche poultry products.

Market by Region Insights:

In 2023, it was discovered that Asia Pacific was the main market in the whole world because it contributed 37.7% to the total market revenue of poultry feed. The poultry feed market is fueled by an increasing middle class, rising chicken meat consumption and egg consumption in this region whose demand for the product is still growing rapidly due to its increasing population. The market for this product extends to other continents such as North America, Europe, South America, Asia Pacific as well as the Middle East and Africa. Chicken farmers in the region are increasingly using premixes and additives to provide a well-rounded diet, facilitate quicker growth, and enhance the resistance of poultry to diseases. In China, the necessity for high-quality bird feed is on the rise with emphasis on safety and quality, making premixes indispensable for accurate nutrition monitoring. Similarly, in Indonesia, premixes and additives are also on the rise among farmers, for boosting bird health and production.

Competitive Scenario:

The poultry feed market is very fierce and somewhat fragmented, where it's led by dominant three companies due to its competitiveness – Tyson Foods Inc., Cargill Inc., Land O'Lakes, Inc. These key players are aligning with new customers as well as entering into partnerships which would see them increase their market shares and profits. For instance, in April 2022, Cargill committed to investing $50 million in constructing animal nutrition and feed research centers in China, the Netherlands, and Minnesota. In East Africa, however, along with Unga Group Plc, Nutreco unveiled its intention to venture into provision of Tunga Nutrition which is concentrated on proteins meant for increased percentage of the market within animal feeding industry, this information was relayed early January 2022. 

Scope of Work:

Market Segmentation:

By type:

·        Cereal Grains

·        Protein Meals

·        Others

By geography:

·        North America

o   The United States

o   Canada

·        Latin America

o   Brazil

o   Mexico

o   Rest of Latin America

·        Europe

o   Germany

o   The United Kingdom

o   France

o   Spain

o   Russia

o   Rest of Europe

·        Japan

·        Asia Pacific Excluding Japan

o   China

o   India

o   Malaysia

o   Singapore

o   Australia

o   Rest of Asia Pacific Excluding Japan (APEJ)

·        Middle East and Africa

o   GCC Countries

o   Israel

o   South Africa

o   The Middle East and Africa (MEA)

By system type:

·        Source: Plant-based, Animal-based

·        Processing: Raw, Processed

·        Form: Whole, By-product

·        Nutrient Content: Protein, Fiber

·        Supplements: Vitamins, Minerals

By end use:

·        Farm

·        Household

·        Others

Key Developments:

In April 2022, Cargill declared that it would launch research and innovation outlets in the areas of animal nutrition and feeds with a major USD 50 million. Cargill's dedication towards propelling animal feeding science will see these outlets set up in China, the Netherlands as well as around Elk River, Minnesota.

At the beginning of January 2022, Nutreco and Unga Group Plc announced they would set up two joint ventures in East Africa: Tunga Nutrition. They will improve animal feed in this area with much needed proteins which are good for health as well as grow more crops there for livestock thus increasing their business share within this industry.

FAQs

Q1. What is the market size of Poultry Feed Market?

Poultry Feed Market size was valued at USD 118.18 billion in 2019 and is poised to grow from USD 125.63 billion in 2023 to USD 217.7 billion by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).

Q2. Who are the key vendors in the Poultry Feed Market?

The poultry feed market is relatively fragmented, with a high level of competition. Few large players, like Land O’Lakes, Inc., Cargill Inc., and Tyson Foods Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Cargill, Incorporated', 'Archer Daniels Midland Company', 'Nutreco N.V.', 'Tyson Foods, Inc.', 'Alltech, Inc.', 'Charoen Pokphand Foods Public Company Limited', 'New Hope Group Co., Ltd.', 'Guangdong Haid Group Co. Ltd.', 'ForFarmers N.V.', 'Evonik Industries AG', 'BASF SE', 'Land O'Lakes Inc.', 'Hi-Pro Feeds LP', 'Kent Nutrition Group, Inc.', 'Purina Animal Nutrition LLC', 'Guangzhou Guangdong Feed Group Co. Ltd.', 'Guangdong Wens Foodstuff Group Co. Ltd.', 'Guangxi Yangxiang Co. Ltd.', 'Guangdong Wen's Foodstuff Group Co., Ltd.', 'Beijing Dabeinong Technology Group Co. Ltd.'

Q3. What is the key driver of Poultry Feed Market?

Increasing population is driving the poultry feed market. Due to their low cost and shift in taste, poultry-based goods are getting popular globally. Increasing worldwide per capita meat consumption and awareness regarding the benefits of protein intake are propelling the white meat demand. High economic growth in Asia-Pacific and MEA has increased meat production and consumption, driving the poultry market growth.

Q4. What is the key market trend for Poultry Feed Market?

The latest trend witnessed in the poultry feed market is the increasing use of feed additives in poultry feed. The increasing use of vitamins and minerals along with enzymes and pro and prebiotics are major market trends this allows farmers to attain better FCR performance from the feeds. Hence, increasing the demand for conventional feed in recent times. These all factors will propel the market growth during the analysis period.

Q5. Which region accounted for the largest share in Poultry Feed Market?

In 2021, the Asia Pacific region accounted for the largest market share of more than 35% of the poultry feed market. The Asia-Pacific region has a large population and rising per capita income, both of which should drive rapid market expansion in the region. The region is spearheaded by growing economies like China, India, and Malaysia and has a comparative advantage over other regions due to its ready access to cheap labor and fertile farmland. Due to the region's large population and rising disposable incomes, it is anticipated that the region would grow at the quickest rate over the projected period.