Westford, USA, March 02, 2023 (GLOBE NEWSWIRE) -- The Asia Pacific remains the leading regional force for the broilers feed market, with North America closely behind. This trend can be attributed to the growing disposable income of consumers, which has resulted in improved living standards and increased demand for poultry feed. In addition, the rise in demand for broiler meat and eggs globally has led to a surge in poultry farming, driving the market's growth. As a result, the poultry industry has been instrumental in meeting the rising demand for protein-rich food, and broiler farming has emerged as a lucrative segment of the poultry industry.
SkyQuest has reported that the per capita consumption of poultry meat worldwide is estimated to be around 37 pounds per year. This indicates a high rate of meat consumption, which presents significant opportunities for players operating in the broilers feed market.
Browse in-depth TOC on "Broilers Feed Market"
- Pages - 273
- Tables - 96
- Figures - 71
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Broilers feed refers to the specialized feed given to broiler chickens raised for their meat. The feed is formulated to meet the specific nutritional requirements of the birds at different stages of their growth and development. As a result, the feed typically contains a balanced mix of protein, carbohydrates, fats, vitamins, and minerals, which are essential for the health and growth of the birds.
Prominent Players in Broilers Feed Market
- Godrej Agrovet (India)
- Kent Nutrition Group, Inc. (US)
- Perdue Farms Inc. (US)
- V H Group (India)
- Kemin Industries (US)
- Avanti Feeds (India)
- Cargill Inc. (US)
- Tyson Food, Inc. (US)
- ADM Animal Nutrition (US)
- Southern States Cooperative (US)
- Land O'Lakes, Inc. (US)
- Anko Food Machine Co. Ltd. (US)
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Mash Broiler Feed Segment to Account for Largest Revenue Share owing to Increasing Preference for Such Feed Type among Broiler Farmers
The mash broiler feed segment has emerged as the largest contributor to the global broilers feed market in 2021, holding the largest market share. This type of feed is created by grinding and blending various ingredients to create a uniform mixture that birds can easily consume. One of the primary reasons for the dominance of the mash broiler feed segment is its affordability. This feed is the lowest cost and is widely used by various bird species, making it a popular choice for poultry farmers. In addition, the mash feed is widely used in the broiler industry for its ease of preparation and use.
The Asia Pacific region has established itself as a major player in the global broilers feed market, with a dominant share of over 42% in 2021. This region has seen substantial growth in broiler feed production, with India's commercial feed industry playing a pivotal role in serving the poultry sector, accounting for 70-75% of the industry. India's commercial feed production has reached almost 43 million metric tons, with poultry feed commanding the highest share of nearly 26.7 million metric tons. This growth is due to a vast population and rising average incomes in the region's developing countries, which is expected to contribute to further expansion.
Soybean Feed Segment to Witness Higher Traction due to Its High Nutritional Value, Availability, and Cost-Effectiveness
In 2021, the soybean feed segment emerged as the largest segment in the global broilers feed market, capturing a significant market share. Moreover, this segment is expected to maintain its leading position in the market from 2022 to 2028. Soybean feed is a popular choice for broiler feed due to its high protein content and affordability. This feed also contains essential amino acids crucial for broilers' growth and development. Additionally, soybean feed is readily available and used in various broiler feed formulations, making it a versatile choice for manufacturers. With an increasing demand for broiler meat, the demand for soybean feed is also expected to rise, contributing to the continued dominance of this segment in the market.
North America is one of the major global broilers feed market players, ranking second in market share. The United States holds the lion's share of the regional market, accounting for over 80%. The organic broiler chicken market in the United States witnessed significant growth, with sales worth USD 773.0 million, a substantial increase of 74% compared to the previous year. The rise in demand for animal-based protein in the region and a growing awareness of the nutritional value of chicken meat are the primary drivers of this growth. As consumers become more health conscious, the demand for organic broiler chicken is expected to continue to rise, providing new opportunities for businesses in the region.
In the current business landscape, companies always seek ways to gain an advantage over their competitors. This frequently involves developing strategic alliances, acquiring other companies, merging with others, and pursuing joint ventures to increase their market share and strengthen their position in the industry. The latest research report from SkyQuest offers invaluable insights for newcomers and established brands looking to establish a presence in the broilers feed market.
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Key Developments in Broilers Feed Market
- Ingham's, the largest producer of poultry in Oceania, has entered into a conditional agreement to purchase the poultry meat business and assets of Bromley Park Hatcheries (BPH), one of New Zealand's leading poultry producers. The acquisition is part of Ingham's ongoing expansion strategy to increase its market share in New Zealand and strengthen its position in the poultry industry. The acquisition of BPH's poultry meat business and assets includes its breeding and hatching operations, processing plant, and distribution network.
- Cherkizovo Group, a leading Russian meat and feed producer, has announced the acquisition of Russian Grain Ufa's poultry, crop, and feed production businesses in a recent auction for RUB6.37 billion (US$101.3 million). The acquisition is part of Cherkizovo's ongoing strategy to expand its production capabilities and increase its market share in the Russian poultry industry. With this acquisition, Cherkizovo aims to strengthen its position in the Russian poultry market, which has seen strong demand growth in recent years.
- Nutreco, a leader in animal nutrition and aquafeed, has invested significantly in BiomEdit, a biotech company specializing in animal health microbiome research. As part of the partnership, companies have agreed to collaborate on a long-term strategic research project to improve animal health and nutrition through microbiome-based solutions. BiomEdit has been developing innovative microbiome products for animal health, focusing on improving gut health and preventing disease in livestock and aquaculture.
Key Questions Answered in Broilers Feed Market Report
- What are the key drivers and challenges affecting the growth of the global market, and how are they influencing its development?
- Can you provide an overview of the market's historical performance and what factors are expected to drive future growth prospects?
- Who are the major players in the market, and how competitive is the industry landscape in the current context?
- What emerging trends are shaping the market, and how are they expected to impact future growth and innovation?
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