Poultry Feed Market Size - By Type (Starter, Broiler, Layer, Others) By Source (Corn, Wheat, Soybean, Others) By Form (Mash, Pallet, Crumble) By Nature (Organic, Conventional) By Sales Channel (Direct Sales, Online Channels) & Forecast, 2024 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPoultry Feed Market Size - By Type (Starter, Broiler, Layer, Others) By Source (Corn, Wheat, Soybean, Others) By Form (Mash, Pallet, Crumble) By Nature (Organic, Conventional) By Sales Channel (Direct Sales, Online Channels) & Forecast, 2024 – 2032
Poultry Feed Market Size
Poultry Feed Market was valued at around USD 213 billion in 2023 and is anticipated to register a CAGR of over 6.1% between 2024 and 2032, due to the increased chicken consumption drives the need for higher poultry production. Moreover, advancements in nutritional science result in the creation of more nutritious feed, notably high-protein options. Also, expanding chicken farming, particularly in developing regions, contributes to the rising demand for chicken feed.
To get key market trends
There are two main reasons why the chicken feed market is expanding rapidly. One explanation for this is that everyone on the globe wants to eat chicken, and the population is growing. Thus, to feed their birds, chicken growers need to buy additional food. Another important factor is that when there is a rise in income of people, so does their inclination to consume higher protein foods like chicken. In addition, advances in chicken feed science contribute to the industry's expansion. Taking all of this into account, the chicken feed industry becomes a crucial component of agriculture.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Poultry Feed Market Size in 2023 | USD 213.84 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 6.1% |
| 2032 Value Projection | USD 364.4 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 350 |
| Tables, Charts & Figures | 530 |
| Segments covered | Type, Source, Form, Nature, Sales Channel |
| Growth Drivers |
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| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
The chicken feed industry faces significant challenges beyond its apparent ease. Two primary hurdles include unpredictable expenses and compliance with regulations. Volatile prices of essential components like grains and protein can severely impact profits and disrupt planning. Moreover, stringent regulations govern the composition, production, and environmental impact of chicken feed, necessitating costly and time-consuming compliance measures. Failing to address these challenges can result in setbacks, financial losses, and market access difficulties. To maintain competitiveness, chicken feed manufacturers must demonstrate flexibility and adeptly navigate these obstacles.
Poultry Feed Market Trends
The chicken feed industry is undergoing intriguing transformations. Farmers are now crafting tailored feed blends for different bird species, moving away from a one-size-fits-all approach. Additionally, there is a growing interest in exploring alternative protein sources and a significant push for antibiotic-free, organic chicken feed. Furthermore, advancements in scientific research are facilitating the creation of more efficient feed production techniques. Looking forward, expect further diversification in chicken feed offerings, a heightened emphasis on eco-friendly practices, and continued growth, especially in emerging markets. The industry's trajectory will also be shaped by upcoming regulations prioritizing quality and safety.
Poultry Feed Market Analysis
Learn more about the key segments shaping this market
In the chicken feed world, there's a star segment called "broiler" that's raking in big bucks. In 2023, it brought in a whopping $105.4 billion. Why? Because people love chicken! With more and more folks flocking to cities and living hectic lives, they're turning to chicken as a quick and easy meal. That means farmers need to raise broilers, or chickens bred for meat, in a hurry. And here's where broiler feed swoops in. It's like a magic potion that helps these birds pack on the weight like crazy. That's because scientists have been tweaking the formula to give them everything they need to grow fast and healthy. This super feed helps farmers raise more chickens, which means more money in their pockets. So, it's a win-win for feed companies and farmers. It's driving growth and making everyone happy, like a clucking good time!
Learn more about the key segments shaping this market
Based on source, the corn segment dominates the poultry feed market with a revenue share of about 51% in 2023. Corn stands as a fundamental component in chicken feed, supplying the necessary energy and nutrients for robust poultry growth. With increasing chicken consumption worldwide, the demand for corn-based feed is on the rise. Moreover, advancements in corn feed production enhance its effectiveness for poultry, benefiting both chicken producers and feed suppliers. This contributes to industry advancement overall.
Based on form, the mash segment dominates about 60% share of the poultry feed market in 2023. Finely ground mash feed allows for flexible ingredient mixing to address specific dietary requirements. Pelleted feed enhances feed efficiency and minimizes waste through convenient and uniform nutrient distribution. With its coarse texture, crumble feed attracts small, young chickens, promoting optimal consumption and growth. As global poultry production increases to meet the rising demand for protein-rich diets, a broader diversity of feed types will cater to the industry's varied needs and preferences.
In the poultry feed market, conventional feed has the lion's share. But both conventional and organic segments are growing. People are becoming more aware of what they're eating and looking for healthier and more sustainable options. So, there's a rising demand for organic chicken, which is fed 100% natural ingredients and no artificial additives. But conventional feed, which uses traditional ingredients and some additives, is still the top choice. It's more affordable and easier to find. This shows that the feed industry is committed to both sustainability and giving customers what they want. And as people become more aware of where their food comes from and how it's raised, the market for both conventional and organic feed is expected to keep growing.
Based on sales channel, the direct sales segment acquired 80% of the revenue share in 2023. Chicken feed is becoming increasingly accessible to a wider audience through online stores and direct sales. Tech-savvy consumers appreciate the convenience of online shopping, while direct sales prioritize customer satisfaction with quick delivery and personalized assistance. Whether through online platforms or direct sales, these methods contribute to the expansion of the chicken feed market by simplifying the purchasing process for consumers.
Looking for region specific data?
Asia Pacific poultry feed market size surpassed USD 65.5 billion in 2023, driven by the growing population of the region and rising disposable income, which is driving up chicken production. Demand is also increased by urbanization and dietary changes toward meat eating. Additionally, the expansion of the chicken feed industry is facilitated by government policies that are encouraging and expenditures made in agricultural infrastructure. Asia Pacific is well-positioned to become a major player in the world's chicken production and to continue leading the poultry feed business when compared to other regions because of its advantageous location and growing market.
Poultry Feed Market Share
The poultry feed industry is a competitive market, and companies are constantly innovating to stay ahead. They are exploring new markets to expand their reach, developing new feed products to meet customer needs, and offering a wider variety of options overall. Sustainability, quality, and customer satisfaction are top priorities for these companies. Additionally, they are using technology to streamline their operations and distribution channels, which helps them achieve long-term growth and become leaders in the industry.
BASF SE and ADM Animal Nutrition, leading players in the chicken feed industry, are strategizing for success. They emphasize developing novel and eco-friendly feed products while maintaining a strong commitment to sustainability. Prioritizing top-quality products, customer satisfaction, and ongoing research and development, they aim for sustained growth and market leadership.
Poultry Feed Market Companies
Major players operating in the poultry feed industry include
- BASF SE
- ADM Animal Nutrition (Archer Daniels Midland)
- Cargill Animal Nutrition
- Charoen Pokphand Foods (CP Foods)
- Evonik Industries
- ForFarmers
- Land O'Lakes Purina Feed
- New Hope Group
- Nutreco
- Perdue Farms
- Tyson Foods
- Wenger Feeds
- Zeeland Farm Service
Poultry Feed Industry News
- In November 2022, ForFarmers, a Dutch agricultural feed company, revealed its intentions to utilize alternative raw materials and food waste in the production of innovative animal feeds. This strategic move aims to cater to the increasing demand for sustainable agricultural methods while aligning with evolving industry standards.
- In November 2022, Alturas Group of Companies, a versatile enterprise specializing in agricultural manufacturing, expanded its commitment to the agriculture sector by bolstering its investments. This expansion was marked by the inauguration of a new feed mill at Marcela Farms in Ubay, Bohol, signaling the company's dedication to enhancing its presence and operations within the agricultural industry.
This poultry feed market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Billion) (Kilo Tons) from 2018 to 2032, for the following segments
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Market, By Type
- Starter
- Broiler
- Layer
- Others
Market, By Source
- Corn
- Wheat
- Soybean
- Others
Market, By Form
- Mash
- Pallet
- Crumble
Market, By Nature
- Organic
- Conventional
Market, By Sales Channel
- Direct Sales
- Online Channels
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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