Market Trends of canada feed additives Industry
Chicken meat producers have a high demand for chicken and increase in demand for eggs are the factors is increasing the poultry production
- The Canadian poultry industry has experienced steady growth in recent years, particularly in the production of poultry meat and eggs for human consumption. For instance, the poultry bird population increased by 3.3% between 2017 and 2022, with egg production seeing a significant boost due to an increase in the number of egg producers in the country. This trend led to a rise in per capita consumption of poultry by 11.2% between 2017 and 2022, reaching 36.9 kg in 2022.
- The chicken population increased by 4 million heads between 2017 and 2022, reaching 174 million heads in 2022 as chicken meat producers experienced a high demand for chicken due to a rise in the profit margins. In 2021, a significant increase in the number of chicken producers was observed (2,823 producers), and chicken production was valued at USD 3.3 billion in the same year.
- Poultry farmers are benefiting from the current market trend, which is showing an increase in the prices of eggs. With an average growth of about 8% between 2020 and 2021, egg producers in British Columbia received a price of USD 2.41 per dozen in 2021, which increased by 7.4% between 2020 and 2021. The Government of Canada is also supporting the poultry sector by investing around USD 3 million in the animal welfare of poultry birds.
- Sales of poultry meat increased by 14.9% from 2020 to USD 3.7 billion in 2021. Government support, the expansion of poultry producers, and increasing meat consumption are expected to drive growth in the poultry industry during the forecast period (2023-2029).
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High demand for seafood and per capita shrimp consumption increasing in the country are the factors driving the aqua feed production
- The aquaculture industry is expanding rapidly, and the demand for aquaculture feed is expected to increase by 3.7% between 2017 and 2022 due to the rising demand for seafood and the growth of the aquaculture industry. Shrimp is a highly sought-after seafood due to its high protein content and low-calorie count, and per capita shrimp consumption in the country increased from 1.36 kg in 2017 to 1.48 kg in 2022.
- Fish is a dominant sub-segment in the aquaculture segment. It accounted for 57.9% of production in 2022 due to the increasing awareness of the nutritional benefits of fish consumption and the fact that fish accounts for approximately 20% of global seafood demand. The most commonly produced aquatic species in Canada is salmon, which accounted for 74.5% of the production volume of 170,805 metric tons in 2020, owing to its widespread availability and high demand.
- The COVID-19 pandemic impacted the aquaculture industry, particularly the consumption of finfish and shellfish, which are commonly consumed in restaurants and at large hospitality events. However, the retail industry adapted to the pandemic by offering frozen food as an alternative for consumers, which helped the industry recover. Although there was a decline in feed production for aquaculture species between 2019 and 2020, production increased after 2020 as fish production recovered.
- Overall, the growth of the aquaculture segment is expected to be driven by factors such as high demand for seafood consumption, rising awareness about the nutritional benefits of quality feed for high-nutritional fish, and the recovery of the industry from the pandemic.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increase in number of cattle farms for meeting the beef consumption as well as increase in farm gate prices of milk are helping in increasing the ruminants population
- States such as Ontario and Quebec have major poultry producers which is driving the demand for poultry feed production to meet the growing demand for poultry feed
- Pork being the third largest meat sold in the country with more than 7,000 pig farms has been increasing the demand for swine feed in the country
- Canada is third largest exporter of live pigs and pork with country's export of pork increasing by 25% which is increasing the swine production in the country
- High demand for beef exports and dairy products and about 60,000 cattle farms in the country are driving the demand for ruminants feed production
