India Retail News
January 11, 2016
Research and Markets: Global Poultry Feed Market Size, Demand Forecasts, Industry Trends, Updates 2014-2020 - Market is Forecasted to Reach $221 Billion by 2020
The market was valued at 187.43 billion USD in 2014 and is forecasted to reach 221 billion USD by 2020 at a CAGR of 2.7%
Poultry feed is the food for farm poultry that include chickens, geese, ducks and other domestic birds. The poultry feed market includes feed used for layers, turkeys, broilers, ducks and others. Healthy poultry needs sufficient quantity of carbohydrates and proteins along with the necessary vitamins and dietary minerals. Poultry feed ingredients mainly comprise carbohydrates, proteins, and fats. Feed additives are included in poultry feed to better the efficiency of bird's growth, prevent diseases, their laying capacity, and improve feed utilization.
The global poultry feed market in terms of volume was 109.78 million tons in 2014 and is estimated to reach 141.46 million tons by 2020 growing at a rate of 4.32% compounded annually for the forecasted period. This indicates that poultry is the largest meat production segment in the global meat industry with it being globally consumed.
The global poultry feed market share was dominated by Asia-Pacific in 2014. Population growth and economic growth is the key driver that pushed the market forward in this region. North America is the second largest market for the poultry feed market followed by Europe where rising disposable income supported by domestic demand and the large possibility of feed grain, is the primary reason for the particularly strong growth.
The rise in production of animal feed is driven by the increasing in meat consumption. Worldwide, the per capita meat consumption was 87.8 pounds per annum in 2014. The increased per capita global consumption of meat was because of an increase in the overall population, which is driving the global animal feed market, increasing the production capacity and supply in the market.
From the supply end, trends such as usage of technology shift from free ranging to confined poultry operations are growing in the industry at a rapid pace. The poultry feed and poultry feed additives market is being observed to be increasing at a steady pace in the future, due to the growing demand for poultry meat and poultry meat products across the globe.