Poultry Feed Market Outlook
The global poultry feed market was valued at USD 118.18 billion in 2021 and is expected to reach USD 217.7 billion by 2030, growing at a CAGR of 6.3% from 2023 to 2030, according to a new report by Market Research Future (MRFR).
Factors Driving the Growth of the Poultry Feed Market
The key factors driving the growth of the poultry feed market include:
- Increasing demand for poultry meat and eggs
- Growing population and rising disposable incomes
- Increasing awareness of the nutritional benefits of poultry products
- Expanding applications of poultry feed in the food and beverage industry
- Government initiatives to promote the poultry sector
Asia Pacific to Emerge as the Largest Market for Poultry Feed
The Asia Pacific region is expected to emerge as the largest market for poultry feed during the forecast period, owing to the region’s large and growing population, rising disposable incomes, and increasing demand for poultry meat and eggs.
Major Players in the Poultry Feed Market
Some of the major key players in the poultry feed market include:
- Archer Daniels Midland Company
- Cargill Incorporated
- Wilmar International Limited
- BRF S.A.
- New Hope Group
- De Heus
- Land O’Lakes, Inc.
- CP Group
- Alltech
- ForFarmers N.V.
Conclusion
The poultry feed market is expected to witness significant growth in the coming years, driven by increasing demand for poultry meat and eggs, growing population and rising disposable incomes, increasing awareness of the nutritional benefits of poultry products, expanding applications of poultry feed in the food and beverage industry, and government initiatives to promote the poultry sector. The Asia Pacific region is expected to be the largest market for poultry feed, owing to the region’s large and growing population, rising disposable incomes, and increasing demand for poultry meat and eggs.
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Additional Insights from the MRFR Report
The MRFR report provides a comprehensive analysis of the poultry feed market, including:
- Detailed market segmentation by type, form, application, and region
- Analysis of the competitive landscape
- Identification of key growth drivers and challenges
- Porter’s Five Forces analysis
- SWOT analysis
- Company profiles of major players
The report also includes forecasts of the market size and growth rates for each segment and region.
Key Takeaways
The poultry feed market is expected to grow at a CAGR of 6.3% from 2023 to 2030.
Layer feed is expected to be the largest segment of the market, followed by broiler feed.
Pellets are expected to be the most preferred form of poultry feed.
Asia Pacific is expected to be the largest market, followed by Europe and North America.
Increasing demand for poultry meat, growing population, and rising disposable incomes are key drivers of market growth.
Read More : https://www.marketresearchfuture.com/reports/global-poultry-feed-market-1290
Recommendations
- Poultry feed manufacturers should focus on developing innovative products that are nutritious, sustainable, and meet the specific needs of different poultry breeds.
- Governments should invest in research and development of sustainable poultry feed production technologies.
- Farmers should adopt best practices for poultry feeding to optimize feed utilization and reduce environmental impact.
