Global Poultry Feed Market Expected to Grow At a CAGR of 4.3% during the Forecast Period
The latest market report published by Brisk Insights “Poultry Feed Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the Poultry Feed market was valued at US$ 160.0 Bn in 2018 and expected to grow at a CAGR of 4.3% during the forecast period from 2019 to 2027.
“Application of insect larvae as a source of poultry feed drives the market growth”
The poultry sector is crucial in agricultural growth and is particularly important as a source of protein and nutrition in the household’s intake. For instance, the consumption data of egg in Bangladesh expected to be around 5,800 million by the year 2020. Thereby, increasing the demand for the poultry feed market over the forecast period. Moreover, the demand of wheat as poultry feed is about 8% of total domestic production, in addition, the demand if maize as poultry feed is 6 times as compared to its domestic production. The aforesaid factors are the key reasons for the growth of the market over the forecast period.
In September 2018, The United States Food and Drug Administration (FDA) projected that AFFCO (Association of American Feed Control Officials) allowed the application of protein meal produced from insect larvae and completely dried insects in poultry feed. AFFCO and the FDA have been working in the poultry feed regulation space, especially in setting definitions that describe new ingredients in poultry feed. FDA suggests that the production of insects as feed can provide a sustainable source of proteins to poultry feed. Thereby, drives the growth of the poultry feed market globally.
Top manufacturers of poultry feed are focusing to increase their product portfolio by launching new products in the market.
- In July 2018, PoultryPlus subsidiary of ForFarmers the company aims to improves poultry feed productivity, predominantly broiler stock, in turn facilitating enhanced profitability and reduced downtime.
Key Market Movements:
- Globally, the poultry feed market is rising at a CAGR of 4.3% for the estimated period from 2019 to 2027
- The Asia Pacific dominated the global poultry feed market in the year 2018 and expected to continue its dominance during the forecast period. The dominance supported by factors such as rising demand for poultry feed from china supports the growth of the segment.
- The additives segment sub-divided into vitamins, antibodies, antioxidants, amino acids, feed additives, feed enzymes, and others. The amino acids hold the largest share in the overall poultry feed market in 2018 and expected to continue its reign during the forecast period.
List of Companies Covered:
- Alltech Inc.
- Novus International Inc.
- Kent Nutrition Group, Inc.
- Evonik Industries
- Royal DSM N.V.
- Cargill Inc.
- Tyson Foods, Inc.
- ADM Animal Nutrition
- Hi-Pro Feeds. Inc.
- J.D Heiskell & Co.
Browse the full report at https://www.briskinsights.com/report/poultry-feed-market
The Global Poultry Feed Market is Segmented into:
By Type (2017–2027; US$ Bn)
By Additives (2017–2027; US$ Bn)
By Animal Type (2017–2027; US$ Bn)
By Ingredients Type (2017–2027; US$ Bn)
By Geography (2017–2027; US$ Bn)
*Complete segmentation list is on the report page