Poultry feed market size was valued at $110,801.00 Mn in 2020, and is estimated to reach $217,717.80 Mn by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

An increasing population is a crucial element driving food consumption, which is expected to fuel the expansion of the poultry feed industry. ”

— Allied Market Research

PORTLAND, OREGON, UNITED STATES, May 10, 2023 /EINPresswire.com/ — According to the United Nations Food and Agriculture Organization (FAO), food consumption is predicted to increase by 60% between 2010 and 2050, while animal protein demand is expected to increase by 1.7% per year. Thus, this factor is expected to contribute toward the growth of the poultry feed market during the poultry feed market forecast.

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Furthermore, the rise in animal protein consumption is projected to continue to be a major driving factor in the global poultry feed market during the forecast period. Furthermore, an increase in demand for fast food and processed foods, as well as an increase in poultry exports from Asia-Pacific, are likely to support market expansion. Furthermore, an increase in poultry consumption in North America as a result of higher beef costs is predicted to contribute toward the market growth. Government rules that make it easier to employ feed additives to improve the quality of poultry feed in countries such as China, India, and Brazil are likely to contribute to global poultry feed market growth. Furthermore, the absence of any religious implications on poultry meat that are linked with beef and pork drives market expansion. However, an increase in the prevalence of poultry diseases such as avian flu is projected to limit the market growth.

Leading Market Players

Anko Food Machine Co. Ltd.
Berkshire Hathaway Inc.
Bucher Industries
John Bean Technologies Corporation (JBT)
Hosokawa Micron Corp.
GEA Group
Mallet & Company, Inc.
SPX Corporation
Tetra Laval International S.A.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global poultry feed market, owing to its restrictions in the import & export activities.
The implementation of the global lockdown disrupted the supply chain, which created several challenges for the manufacturers to transport raw materials for the production of chicken feed.

The conventional segment to maintain its leadership status throughout the forecast period

Based on nature, the conventional segment held the highest market share in 2021, accounting for 84% of the global poultry feed market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increasing demand for poultry and its products. Moreover, the organic segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031, owing to rise in demand for natural and organic feed globally.

The offline segment to maintain its lead position during the forecast period

Based on distribution channel, the offline segment accounted for the largest share in 2021, contributing to 81% of the global poultry feed market, and is projected to maintain its lead position during the forecast period. This is because presence of this product is more on offline stores and consumers prefer the physical stores around the globe. However, the online segment is expected to portray the largest CAGR of 7.8% from 2022 to 2031, owing to the use of social media and increasing digital shopping platforms across the world.

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Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2021, accounting for more than two-fifths of the global poultry feed market. Moreover, the same region is expected to witness the fastest CAGR of 7.4% during the forecast period, owing to high production levels.

David Correa
Allied Analytics LLP
email us here

Originally published at https://www.einpresswire.com/article/632895647/poultry-feed-market-size-growth-of-217-7-billion-by-2031-demand-global-trends-and-competitive-analysis

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