Poultry Market is Expected to be Flourished by Growing Demand for Protein-Rich Food

Poultry Market

The poultry market comprises farming of domesticated birds such as chickens, ducks, turkeys, and geese, primarily for their meat and eggs. Poultry meat is one of the most consumed meats globally owing to its high protein content. Chicken is the most commonly produced meat worldwide, with over 95 million tons produced annually. Poultry farming provides affordable animal protein to consumers while generating income and employment for farmers and allied industries. The global poultry industry includes large integrated production facilities, small commercial farms, and backyard flock operations. Technological advancements have increased efficiency in breeding, hatching, feeding, housing, and disease control.

The global poultry market is estimated to be valued at US$ 15.88 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of the poultry market is the growing demand for protein-rich food. Meat and poultry are among the most affordable sources of high-quality protein. As incomes rise globally, more consumers are switching to meat and poultry from traditional plant-based proteins. Rapid urbanization is also supporting this dietary transition. Poultry meat requires less land and feed compared to red meat, making it a sustainable option to fulfill the rising protein demand. Additionally, key players in the market are focusing on breed improvement to increase productivity while limiting environmental impacts. These efforts are helping strengthen the affordability and supply of poultry meat and eggs.

Segment Analysis

The global poultry market can be segmented into broiler, layer, and other segments. The broiler segment holds the dominant market share of around 50% owing to its relatively cheaper price as compared to layer chickens. This makes broilers ideal for use in processed meat products as well as for direct consumption. The layer segment holds the second largest share and produces eggs for human consumption.

PEST Analysis

Political: Poultry farming and trade are regulated internationally through trade blocs and treaties. Local governments also implement rules around animal welfare, labeling, and environmental protection which impact industry.

Economic: Changes in disposable income affects demand for poultry meat and eggs. Rising feed costs can squeeze industry profits if production efficiencies are not improved.

Social: Health and nutrition aspects drive demand, while animal welfare is a growing concern. Cultural dietary preferences also affect consumption patterns across regions.

Technological: Advances in breeding, nutrition management, farming operations allow higher yields and quality. Automation in processing cuts costs and improves food safety. Adoption of new tech varies by region and farm size.

Key Takeaways

The Global Poultry Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global poultry market is estimated to be valued at US$ 15.88 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.

Regional analysis related content comprises

The Asia Pacific region holds the largest share in the global poultry market currently. Large populations and growing meat consumption in China and India are driving stronger demand. China, in particular, produces and consumes a major portion of the world's broiler and layer chickens.

Key players related content comprises

Key players operating in the poultry market are AstraZeneca, CorMedix, Inc., Citus Pharmaceuticals, Fresenius Medical Care, Glenmark Pharmaceuticals Ltd., Geistlich Pharma, Merck & Co., Inc., Pfizer, TauroPhar GmbH, and Xellia Pharmaceuticals Ltd. while AstraZeneca focuses on pharmaceutical products, others are engaged in supplying animal feed and vaccination services to poultry farmers.

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