Poultry feed industry is projected to witness a CAGR of 6.1% during the period 2024-2032. This growth can be attributed to technological advancements in feed formulations.
Selbyville, Delaware, July 01, 2024 (GLOBE NEWSWIRE) —
Poultry Feed Market Size will acquire a worth of USD 364.4 billion by 2032, as per the latest research report by Global Market Insights Inc. The report cites that the consistent technological progress in feed formulations will stimulate the market outlook over 2024-2032.
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Innovations in feed formulation and production are pivotal in enhancing feed efficiency and effectiveness, thus driving the progression of the poultry feed market. Advances such as precision nutrition and the incorporation of enzymes, probiotics, and prebiotics optimize nutrient absorption and improve gut health in poultry. These innovations reduce feed waste and lower costs, making poultry farming more sustainable and profitable.
For instance, in December Scotland’s Rural College announced its participation in an initiative to revolutionize poultry feed production by investigating the potential of red seaweed as a sustainable alternative to soybean meal in UK chicken feed. The Novel Seaweed Chicken Feed Feasibility project, spearheaded by Seaweed Generation in partnership with the University of West London, Scotland’s Rural College, the Centre for Innovation Excellence in Livestock, and Microgrow Systems Limited, aims to assess the practicality and cost-efficiency of using sea or tank cultivated dulse, a protein-rich red seaweed, as a viable chicken feed substitute.
Additionally, improved feed formulations tailored to specific expansion stages and breeds ensure optimal development rates and productivity. This technological progress boosts overall feed quality and performance and attracts more poultry farmers to invest in high-quality feed.
Demand for wheat-based poultry feed on the rise
The poultry feed market size from the wheat segment will register commendable growth through 2032. Increases in global poultry production require more high-energy feed, and wheat is the main raw material due to its high energy content and digestibility provided by relatively stable and highly available wheat prices. It’s what the chefs want. In addition, consumer demand for poultry products, driven by health and economic benefits, is once again growing. Feed innovations that increase evolution rates and poultry health contribute to reliance on wheat-based feed and poultry expansion, and beneficial traits with wheat in combination usher the demand.
Starter feed to gain popularity
The starter segment will capture a noteworthy poultry feed market share by 2032 due to the pressing focus on optimizing early-stage nutrition for chicks. Quality starter feeds, rich in vital nutrients, are necessary to assure strong growth, enhanced immunity, and higher survival rates in young poultry. As poultry farming is more intensive and competitive, vendors prioritize starter feeds to achieve better feed conversion ratios and productivity. The innovations in feed formulations, integrating probiotics and prebiotics, improve gut health and nutrient absorption in chicks. The elevated concentration on early-stage health and performance proliferates the ascending demand for starter poultry feed.
North America takes precedence in the market
North America poultry feed market will depict a decent development rate through 2032 because of soaring consumer choice for poultry meat and eggs, directed by their cost-effectiveness and nutritional advantages. The proliferation of poultry farming, encouraged by developments in feed formulations that improve growth rates and health, is assisting in this upsurge. The trend towards high-quality and organic poultry products is inducing farmers to chip in money for superior feed. The progression of the fast-food sector, which significantly relies on chicken, increases the demand as manufacturers strive to satisfy the consumption rates in domestic as well as export industries.
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Poultry Feed Market Players
Major players in the poultry feed industry include Archer Daniels Midland, Alltech Inc., BASF SE, Cargill Inc., Chicken Pokphand Foods PCL, De Heus B.V., ForFarmers N.V., Land O’Lakes Inc., NEOVIA Group, Nutreco N.V., and among others.
Significant investments are made in research and development to develop a high-quality specialty feed that improves poultry health and yields. Through acquisitions, mergers, and collaborations, these vendors expand their product portfolio and market reach. The producers focus on sustainability, adopting environmentally friendly production methods to satisfy regulatory standards and customer demands. By providing support and training, they help farmers use food more efficiently, ensuring competitiveness and gains in a dynamic market.
In April 2024, Nestle Purina and Cargill collaborated. This investment in regenerative agriculture targets to curb the carbon footprint of the United States grain supply of Purina from Cargill by around 40%.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
2.2 Type trends
2.3 Source trends
2.4 Form trends
2.5 Nature trends
2.6 Sales channel trends
2.7 Regional trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Value chain
3.1.2 Key manufacturers
3.1.3 Go to market routes
3.1.4 Key distributors
3.1.4.1 New distribution channels
3.1.5 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Market challenges
3.2.3 Market opportunities
3.2.3.1 New markets/applications
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.1.1 Technology evolution
3.3.1.2 Sustainable manufacturing
3.3.1.2.1 Green practices
3.3.1.2.2 Decarbonization
3.3.2 New raw materials
3.3.3 Raw material pricing trends (USD/Ton)
3.3.3.1 U.S.
3.3.3.2 European Union
3.3.3.3 UK
3.3.3.4 China
3.3.3.5 Southeast Asia
3.3.3.6 GCC
3.4 Regulations & market impact
3.5 Trade statistics
3.6 Unmet needs
3.7 Porter’s analysis
3.8 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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