Poultry Feed Market Outlook 2021 and Forecast to 2028

 

According to our latest market study on “Poultry Feed Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Layers, Broilers, Turkeys, and Others), by Form (Mashed, Pellets, Crumbles, and Others), and Category (Organic and Conventional),” the market was valued at US$  124,611 million in 2021 and is projected to reach US$  156,710 million by 2028; it is expected to grow at a CAGR of 3.3% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Compound poultry feed is made from various raw materials and additives and contains various ingredients based on poultry's nutritional needs, growth stages, and feeding characteristics. It studies the characteristics of poultry feed raw materials and also determines the nutritional requirements of poultry. The proportion of each kind of the feed ingredient is determined in the poultry feed formula. A balanced composition of the feed is required to ensure the health of poultry birds. The compound feed promotes the health and well-being of poultry birds with balanced vitamins and other elements. The compound feed fulfills the majority of the macro and micronutrients requirements of animals. To meet the specific feed requirements, the demand for poultry compound feed is growing significantly. Compound feed is fed to animals as an essential source of ration, allowing them to grow and develop properly to enhance their productivity. Additionally, increasing demand for animal protein will further increase the consumption of compound feed in the coming years. Hence, rising demand for compound feed in poultry will boost the market growth in the coming years.

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Poultry feed is produced from various raw materials, such as cereal and grains, cakes or oil meal, and feed additives. The nutritional requirements of the poultry feed depend on the weight and age of the poultry, their rate of growth, and the rate of egg production. The increase in the consumption of poultry products among consumers is boosting the poultry feed market.

The poultry sector is registering a continual rise across the world. Poultry is regarded as one of the most cost-effective protein sources due to which the demand for poultry products, such as eggs and meat, continues to rise. There is a surge in chicken consumption among people who are more concerned about their health. The upswing in the poultry production is catering substantially to the bolstering need for the global population. According to the Food and Agriculture Organization (FAO) of the US, the world poultry meat production has increased from 9 to 132 million tons between 1961 and 2019, and egg production has grown from 15 to 90 million tons. The surging poultry production propels the use of quality poultry feed products.

Some of the major key players operating in the global poultry feed industry includes ADM, Cargill, Incorporated., Alltech., Charoen Pokphand Foods PCL, ForFarmers, Kent Corporation, SHV Holdings, Land O'Lakes, Inc. , AFGRI Animal Feeds, and DE HEUS ANIMAL NUTRITION. The major players in the poultry feed industry are focusing on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally.

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