IMARC Group's report titled "Poultry Feed Market Report by Nature (Conventional, Organic), Form (Mashed, Pellets, Crumbles, and Others), Additives (Antibiotics, Vitamins, Antioxidants, Amino Acid, Feed Enzymes, Feed Acidifiers, and Others), Animal Type (Layers, Broilers, Turkey, and Others), Distribution Channel (Offline, Online), and Region 2024-2032". The global poultry feed market size reached US$ 210.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 289.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.
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Factors Affecting the Growth of the Poultry Feed Industry:
- Favorable Government Initiatives:
Governing agencies of various countries are taking several measures to promote food safety, animal welfare, and environmental sustainability, which is impelling the market growth. Restrictions on the use of antibiotics, growth promoters, and genetically modified ingredients influence feed formulation strategies and ingredient sourcing decisions. Moreover, trade agreements, import or export regulations, and subsidies affect market access and competitiveness, shaping the flow of feed ingredients and finished products across borders. Furthermore, key players are focusing on maintaining compliance to avoid any financial penalty.
- Technological Advancements:
Innovations in feed formulation, processing methods, and additive development contribute to the enhancement of poultry feed quality, efficiency, and sustainability. Advancements, such as precision nutrition, enzyme supplementation, and feed additives, promote optimal growth, health, and performance in poultry. These innovations not only improve feed conversion rates and nutrient utilization but also address environmental and health concerns associated with traditional feed ingredients and production methods. Furthermore, producers are focusing on optimizing feed efficiency and meeting evolving consumer preferences for sustainable and high-quality poultry products.
- Changing Dietary Preferences:
The increasing consumption of poultry products due to changing dietary preferences of individuals is impelling the market growth. The growing demand for convenient and affordable protein sources due to Western dietary patterns is offering a positive market outlook. Apart from this, producers are investing in feed production infrastructure and adapting formulations to cater to changing nutritional requirements while ensuring the continued growth and profitability of the poultry feed sector. Furthermore, the rising adoption of ready-to-eat (RTE) poultry food items among people with busy lifestyles is bolstering the market growth.
Leading Companies Operating in the Global Poultry Feed Industry:
- AFGRI Animal Feeds
- Alltech
- Archer-Daniels-Midland Company
- BASF SE
- Cargill Inc.
- Charoen Pokphand Foods Public Company Limited
- Chr. Hansen Holdings A/S
- De Heus Animal Nutrition
- ForFarmers N.V.
- Kent Nutrition Group (Kent Corporation)
- Koninklijke DSM N.V.
- Novus International Inc. (Mitsui & Co. (U.S.A.) Inc.).
Poultry Feed Market Report Segmentation:
By Nature:
- Conventional
- Organic
Conventional represents the largest segment as it is usually cost-efficient to produce as compared to organic or specialized feeds.
By Form:
- Mashed
- Pellets
- Crumbles
- Others
Pellets hold the biggest market share due to the rising need to minimize feed waste.
By Additives:
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acid
- Feed Enzymes
- Feed Acidifiers
- Others
Amino acid accounts for the largest market share, driven by the increasing focus on growth, repair, and overall well-being of poultry.
By Animal Type:
- Layers
- Broilers
- Turkey
- Others
Broilers exhibit a clear dominance in the market on account of the rising need to achieve specific dietary preferences of individuals.
By Distribution Channel:
- Offline
- Online
Offline holds the majority of the market share, which can be attributed to its ability to provide immediate access to poultry feed without the waiting period associated with shipping.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys a leading position in the poultry feed market due to the increasing demand for high-quality food products among individuals.
Global Poultry Feed Market Trends:
The rising demand for poultry food products, such as chicken and eggs, among the masses across the globe is supporting the market growth. People are consuming poultry products due to their affordability, versatility, and perceived health benefits. Besides this, the escalating demand for high-quality feed to support the health and growth of poultry flocks is propelling the market growth.
Apart from this, efficiency in feed conversion and sustainability are key concerns for poultry producers. Feed additives and formulations can improve feed efficiency, reduce environmental impact, and enhance animal welfare. Moreover, increasing consumer preferences for antibiotic-free, organic, and natural poultry products due to health and food safety concerns is bolstering the market growth.
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