Sarasota, FL -- (SBWIRE) -- 10/31/2017 -- According to the report, global poultry feed market was valued at over USD 190.60 billion in 2015, is expected to reach above USD 226.20 billion in 2021 and is anticipated to grow at a CAGR of slightly above 2.90% between 2016 and 2021.
Poultry are domestic birds raised for eggs, meat, manure and feathers. Poultry includes hen, duck, geese, turkeys and other birds. Poultry farming is domesticating of poultry for high yield of meat, eggs and manure. Poultry farming can be done either as family poultry and also industrial poultry farming. Poultry feed is an emerging business gaining huge importance due to high nutritional feed stock with high productivity.
Meat and eggs consists of high protein and water content and 5% of fat. Increasing health conscious nature among young generation has led high use of proteins through poultry product which stimulates the growth of poultry market. This in turn supports the demand for poultry feed market. Escalating poultry business in emerging economies due to high profit drives the poultry feed market. However, high initial and maintenance cost along with increasing prevalence of disease such as bird flu may hamper the growth of poultry feed market. Nevertheless, government support for expanding the poultry business in the emerging countries is likely to open new opportunities in the near future. Surging contract farming trend which provides set up with the feedstock is estimated to accelerate growth of the poultry market.
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The poultry feed market can be segmented on the basis of type, additives, and regions. Depending on the meat, the poultry can be differentiated into broilers, turkeys, layers and other types. Broiler emerged as the most potential segment owing to high consumption of broiler meat globally. North America consumes the highest percentage of broilers in the world. The broiler is easily available worldwide and mostly preferred for taste.
Amino acids, vitamins, feed enzymes, antibiotics, antioxidants and feed acidifiers are some of the additives added to the feed of poultry. The additives are used in feed to improve the productivity, high quality, healthy and disease free poultry. Antibiotics and antioxidants are innovated products that are added to the feed. Antioxidants are added to the feed to prevent it from spoilage and for long durability of feed. Procaine penicillin, chlortetracycline, oxytetracycline, bacitracin, tylosin, streptomycin, are some of the antibiotics added to the feedstock. Antibiotics decrease mortality rate and promote high growth rate.
North America dominated the poultry feed market owing to high demand for broilers and huge preference for antibiotics poultry feed. Asia-Pacific is the fastest growing region and expected to maintain its pace in the forecast period. Factors attributing to the growth of the market are rapid development, rising population, change in consumption habits, particularly in India and China. Latin America is anticipated to experience high growth for poultry feed market due to profitable production of poultry. The Middle East and Africa are projected to have decent growth in the coming years. This is mainly due to rise living standards and growing consumption of poultry products.
The major players for the poultry feed market comprise of Novus International Inc, Alltech Inc., Charoen Popkhand Foods, Royal DSM N.V., Evonik Industries AG, BASF, CHR. Hansen Holdings A/S, Archer Daniels Midland Company, Cargill Inc., ABF Plc, Suguna Foods, InVivo NSA, DLG Group and Nutreco NV among others.
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