Poultry Feed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 213.95 Billion |
| Market Size (2029) | USD 262.81 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Poultry Feed Market Analysis
The Poultry Feed Market size is estimated at USD 213.95 billion in 2024, and is expected to reach USD 262.81 billion by 2029, at a CAGR of 4.20% during the forecast period (2024-2029).
The global poultry feed market is experiencing significant growth, driven by an increasing worldwide population and rising demand for poultry meat across various sectors, particularly in fast-food restaurants. This heightened demand for nutritious poultry meat is expected to propel market expansion. Poultry is considered one of the most economical protein sources, leading to consistent growth in demand for products such as eggs and meat. According to the Organization for Economic Co-operation and Development (OECD), the per capita consumption of poultry meat in the United States increased to 35.7 kg in 2023, a 2.3% rise from the previous year. Additionally, rising consumer incomes and increasing urbanization in the Asia-Pacific region are contributing to higher demand for poultry products, further stimulating market growth.
China's National Bureau of Statistics (NBS) reported that in 2023, the country's poultry egg production reached 35.63 million metric tons, a 3.1% increase from 2022. This growth is expected to drive demand for layer birds, subsequently supporting the usage of poultry feed. Increasing poultry expansion projects are also contributing to market growth. For example, in April 2022, Cargill invested USD 50 million in research and development facilities in China, near Elk River, Minnesota, and the Netherlands to advance animal nutrition and feed research. Such investments in poultry expansion present opportunities for growth in the poultry feed sector.
Feed product quality and price are emerging as crucial factors in market growth. Governments are implementing regulations to maintain feed quality and protect animal health, recognizing its importance. The combination of increasing demand for poultry meat, growing consumer income, urbanization, and rising investments in poultry production is expected to drive market growth during the forecast period.
Poultry Feed Market Trends
Rising Demand for Poultry Products
Recently, poultry is one of the fastest-growing segments of the agricultural sector. The poultry sector underwent significant structural changes during the past two decades due to the introduction of modern intensive production methods, genetic improvements, improved preventive disease control, biosecurity measures, increasing income and human population, and urbanization. The increase in poultry meat consumption is most evident in East and Southeast Asia and Latin America, particularly in China and Brazil. The share of the world's poultry meat consumed in developing countries increased over the past decade.
Supermarkets and shopping malls' emergence support chilled and frozen poultry product retailing growth. In addition, government policies ensure competitively priced product supply, boosting the poultry sector growth. Due to the increasing working population and incomes, the demand for convenient, high-quality chicken products is continually increasing. With increased health awareness, consumers are willing to spend more on healthy meat products, further contributing to the market's growth. For instance, according to USDA, global chicken meat production in 2022 was 102,199 thousand metric tons which increased by approximately 1.6% and reached 103,828 thousand metric tons in 2023.
Furthermore, the demand for poultry meat from rapidly growing fast-food restaurants, such as McDonald's, KFC, Nando's, Marrybrown, and various other outlets, is fueling the poultry sector growth, which is, in turn, resulting in market development. For instance, in 2023, a leading Chinese feed producer, New Hope Liuhe, launched a new line of compound feeds specifically formulated for various bird species. With the growing demand poultry production increases to keep up with the increasing consumer demand, which requires optimum use of high-quality feed to improve production efficiency, feed conversion ratios, and enhance animal health. It is anticipated to boost the market during the forecast period.
Asia-Pacific Dominates the Market
Asia-Pacific holds the largest share of the global poultry feed market. The region's vast population and increasing disposable incomes are driving rapid market growth. Over the past two decades, China and India have experienced significant expansion in their poultry sectors, both in terms of bird numbers and output per bird. This growth is closely linked to the adoption of intensive farming systems, which utilize high food conversion ratios.
China's feed usage is increasing due to strong demand for chicken meat. According to USDA data, chicken meat consumption in China rose from 14,401 thousand metric tons in 2022 to 15,002 thousand metric tons in 2023. The country's major compound feed production areas for poultry are concentrated in Henan, Shandong, Guangdong, and Sichuan, strategically located near raw materials and poultry farms.
Investments in the poultry feed sector across Asian countries are contributing to market growth. For example, in January 2024, San Miguel, a leading commercial feed producer in the Philippines, announced plans to invest PHP21 billion (USD 384 million) in the country's poultry feed and poultry sector, including the establishment of 12 new poultry feed facilities. In India, factors such as rising per capita income, expansion of quick-service restaurants, and increasing demand for quality poultry products have significantly boosted the demand for poultry feed. These trends are expected to accelerate poultry feed sales in the country in the coming years.
The demand for poultry feed remains high in emerging economies of Asia-Pacific, particularly in China and India. This trend is driving the use of higher-quality feed for a growing poultry population. Notably, Asia-Pacific accounts for two-thirds of the increase in global poultry meat production, further underlining the region's importance in the poultry feed market.
Poultry Feed Industry Overview
The Poultry Feed Market is fragmented. Charoen Pokphand Foods, Cargill Inc., SHV (Nutreco NV), Land O'Lakes Inc., and De Heus BV are some of the major players operating in the market. The players are investing in new products and improvisation of products, partnerships, expansions, and acquisitions for business expansions.
Poultry Feed Market Leaders
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Charoen Pokphand Foods PCL
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Cargill Inc.
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Land O Lakes Inc.
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De Heus BV
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SHV (Nutreco NV)
*Disclaimer: Major Players sorted in no particular order
Poultry Feed Market News
- September 2024: PoultryTechBangladesh partnered with Quick Chicks, Provita, Paragon, and Nourish to enhance investment facilitation, deliver technical support, and strengthen co-financing initiatives in Bangladesh's poultry sector.
- July 2023: Amul Dairy, an Indian dairy cooperative, expanded its operations by launching poultry feed production lines. This move aims to enhance Amul's poultry feed production capabilities across multiple regions in India.
Poultry Feed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Poultry Meat and Eggs
4.2.2 Increased Awareness of Animal Health and Productivity
4.2.3 Growing Government Support and Initiatives
4.3 Market Restraints
4.3.1 Fluctuating Raw Material Prices
4.3.2 Increasing Regulatory Constraints on Poultry Feed
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.1 Layers
5.1.2 Broilers
5.1.3 Turkey
5.1.4 Other Animal Type
5.2 Ingredient Type
5.2.1 Cereal
5.2.2 Oilseed Meal
5.2.3 Molasses
5.2.4 Fish Oil and Fish Meal
5.2.5 Supplements
5.2.6 Other Ingredient Type
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Germany
5.3.2.5 Russia
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle east and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle east and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Charoen Pokphand Foods
6.3.2 Cargill Inc.
6.3.3 Alltech Inc.
6.3.4 Archer Daniels Midland
6.3.5 De Heus BV
6.3.6 Land O Lakes Inc.
6.3.7 ForFarmers
6.3.8 SHV (Nutreco N.V.)
6.3.9 Kent Nutrition Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Poultry Feed Industry Segmentation
Poultry feed is fodder blended from various raw materials and additives. These blends are formulated according to the targeted animals' specific requirements. Feed compounders manufacture them as meal types, pellets, or crumbles. The Poultry Feed Market is segmented by Animal Type (Layer, Broiler, Turkey, and Other Animal Types), Ingredient (Cereal, Oilseed Meal, Molasses, Fish oil, and Fish meal, Supplements, and Other Ingredients), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and forecasts in value (USD).
| Animal Type | |
| Layers | |
| Broilers | |
| Turkey | |
| Other Animal Type |
| Ingredient Type | |
| Cereal | |
| Oilseed Meal | |
| Molasses | |
| Fish Oil and Fish Meal | |
| Supplements | |
| Other Ingredient Type |
| Geography | |||||||||
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Poultry Feed Market Research FAQs
How big is the Poultry Feed Market?
The Poultry Feed Market size is expected to reach USD 213.95 billion in 2024 and grow at a CAGR of 4.20% to reach USD 262.81 billion by 2029.
What is the current Poultry Feed Market size?
In 2024, the Poultry Feed Market size is expected to reach USD 213.95 billion.
Who are the key players in Poultry Feed Market?
Charoen Pokphand Foods PCL, Cargill Inc., Land O Lakes Inc., De Heus BV and SHV (Nutreco NV) are the major companies operating in the Poultry Feed Market.
Which is the fastest growing region in Poultry Feed Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Poultry Feed Market?
In 2024, the Asia-Pacific accounts for the largest market share in Poultry Feed Market.
What years does this Poultry Feed Market cover, and what was the market size in 2023?
In 2023, the Poultry Feed Market size was estimated at USD 204.96 billion. The report covers the Poultry Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Poultry Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Poultry Feed Industry Report
Statistics for the 2024 Poultry Feed market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Poultry Feed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Poultry Feed Market Report Snapshots
