Zion Market Research, the market research group announced the analysis report titled ‘Poultry Feed Market Is Expected To Reach Above USD 226.20 Billion in 2021’
Sarasota, FL -- (SBWIRE) -- 11/15/2017 -- Zion Market Research has published a new report titled "Poultry Feed Market (Broilers, Layers, Turkeys and Other Types) by Additives (Amino Acids, Vitamins, Feed Enzymes, Antibiotics, Antioxidants and Feed Acidifiers): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". 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 feed is the feedstock used for feeding the poultry for obtaining high quality, improves growth rate and lower the mortality rate. The feedstock is of different types depending on the end product such as for eggs or meat. Poultry feedstock is almost used in every poultry farm owing to its cost-effective and desired results.
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Rising awareness of healthy protein diet results in high demand for poultry products drives the poultry feed market. Increasing consumption of meat and poultry products triggers the growth of poultry feed market. Moreover, escalating poultry business in developing countries led the high growth of poultry feed market. Though, rising occurrence of diseases such as bird flu may hamper the growth of the market. Also, high preliminary and maintenance cost are likely to impact the growth of poultry feed market. Nonetheless, funding and support from the government for expanding the poultry sector owing to high profit and to address unmet the demand from end users is expected to open new avenues in the near future.
Based on the type, the poultry feed market can be segmented into broiler, turkeys, layers and other types. The broiler is the dominating segment owing to high preference from consumers and easily available in all parts of the world. It is estimated, the broiler will experience high growth in near future and would gather largest revenue share. Moreover, turkeys and layers are also highly consumed over some regions. Numerous additives are added to the feed to enhance the quality, mass production. Amino acids, vitamins, feed enzymes, antibiotics, antioxidants and feed acidifiers are some of the extensively used additives. Vitamins and feed enzymes are the significant segments. In addition, antibiotics and antioxidants are recently introduced and gaining traction in the market in recent times.
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The poultry feed market is majorly dominated by North America. This mainly contributed to the increasing consumption and demand for broiler and addition of antibiotics in the feed. Asia Pacific is the most prominent market for the poultry feed market and is estimated to maintain its position in the forecast period. Rising population, change in preference for poultry products, high profit from import and export of poultry products are expected to support the demand. Production cost is beneficial in Brazil, this factor led to high growth of poultry feed market in Latin America. The Middle East and Africa iareanticipated to show decent growth owing to increasing demand for poultry products and increasing disposable income.
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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 are some of the key participants for the poultry feed market.
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