Poultry Feed Market Size to Hit US$ 289.0 Billion by 2032 | With a 3.5% CAGR

SHERIDAN, WYOMING, UNITED STATES, June 18, 2024 /EINPresswire.com/ -- IMARC Group's report titled "Poultry Feed Market Report by Nature (Conventional, Organic), Form (Mashed, Pellets, Crumbles, and Others), Additives (Antibiotics, Vitamins, Antioxidants, Amino Acid, Feed Enzymes, Feed Acidifiers, and Others), Animal Type (Layers, Broilers, Turkey, and Others), Distribution Channel (Offline, Online), and Region 2024-2032". The global poultry feed market size reached US$ 210.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 289.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.

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Factors Affecting the Growth of the Poultry Feed Industry:

● Focus on Animal Health and Welfare:

Animal health and welfare are closely linked to nutrition. Optimal nutrition plays a crucial role in supporting the immune system, preventing diseases, and promoting overall well-being in poultry. As a result, there is a growing demand for specialized poultry feeds that are formulated to meet the specific nutritional needs of birds at different stages of growth and production. Concerns over antimicrobial resistance and consumer preferences for antibiotic-free poultry products are leading to a shift away from the routine use of antibiotics in poultry production.

● Increasing Demand for Poultry Products:

As the demand for poultry products like chicken meat and eggs is rising, poultry producers are increasing their production to meet consumer needs. This increased production requires a corresponding rise in the supply of poultry feed to ensure adequate nutrition for the growing bird population. Poultry, particularly broiler chickens, have high feed conversion ratios, meaning they require relatively less feed to produce a unit of meat compared to other livestock. As a result, the growing demand for poultry products translates to a significant increase in the consumption of poultry feed.

● Technological Advancements:

Innovations enable feed manufacturers to precisely formulate feeds tailored as per the specific nutritional requirements of different poultry species, breeds, and production stages. Advanced analytical techniques, such as near-infrared spectroscopy (NIRS) and genomic analysis, help determine the nutritional composition of feed ingredients and optimize nutrient formulations for improved poultry performance and health. Technological advancements in feed ingredient sourcing, processing, and utilization contribute to the development of novel feed ingredients with enhanced nutritional profiles, digestibility, and functional properties.

Leading Companies Operating in the Global Poultry Feed Industry:

● AFGRI Animal Feeds
● Alltech
● Archer-Daniels-Midland Company
● BASF SE
● Cargill Inc.
● Charoen Pokphand Foods Public Company Limited
● Chr. Hansen Holdings A/S
● De Heus Animal Nutrition
● ForFarmers N.V.
● Kent Nutrition Group (Kent Corporation)
● Koninklijke DSM N.V.
● Novus International Inc. (Mitsui & Co. (U.S.A.) Inc.)

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Poultry Feed Market Report Segmentation:

By Nature:

● Conventional
● Organic

Conventional represents the largest segment due to the cost-effectiveness and familiarity of conventional feed formulations in the market.

By Form:

● Mashed
● Pellets
● Crumbles
● Others

Pellets account for the majority of the market share. Pelleted feed offers advantages such as improved feed efficiency, reduced wastage, and better nutrient utilization, making it the preferred choice for poultry producers seeking optimized performance and convenience.

By Additives:

● Antibiotics
● Vitamins
● Antioxidants
● Amino Acid
● Feed Enzymes
● Feed Acidifiers
● Others

Amino acid exhibits a clear dominance in the market as it is essential for protein synthesis and growth in poultry, and their supplementation in feed allows for precise control over nutrient balance, leading to improved feed efficiency and growth performance.

By Animal Type:

● Layers
● Broilers
● Turkey
● Others

Broilers hold the biggest market share owing to the rising demand for intensively raised poultry species for meat production worldwide.

By Distribution Channel:

● Offline
● Online

Offline dominates the market driven by its requirement to fulfill the need of a diverse customer base of poultry producers, especially in regions with limited access to online purchasing options or where personal relationships play a significant role in business transactions.

Regional Insights:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

Asia Pacific enjoys the leading position in the poultry feed market on account of its large and rapidly expanding poultry industry, driven by population growth, rising incomes, and changing dietary preferences, resulting in significant demand for poultry feed in the region.

Global Poultry Feed Market Trends:

Poultry producers are adopting specialized feed formulations tailored as per the nutritional requirements of different poultry species, breeds, and production stages to optimize growth, performance, and health. Consumer preferences for antibiotic-free poultry products, coupled with concerns over antimicrobial resistance, are driving poultry producers to reduce or eliminate the use of antibiotics in feed, leading to increased demand for alternative feed additives and natural health promoters.

Advancements in feed processing equipment and techniques, such as pelleting, extrusion, and micronization, are improving feed quality, digestibility, and nutrient utilization, enhancing feed efficiency and performance in poultry.

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