Poultry Feed Market Size to Reach $217.7 Bn by 2031; Industry Compound Annual Growth Rate of 6.3%

Global poultry feed industry generated $119.8 billion in 2021, and is anticipated to generate $217.7 billion by 2031, witnessing a CAGR of 6.3%

WILMINGTON, DE, UNITED STATES, December 9, 2024 /EINPresswire.com/ -- Rise in worldwide population, consumption of poultry-based products, and shift in customer taste toward white meat rather than red meat drive the growth of the global poultry feed market.

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In Western and Eastern Africa, investments in poultry feed mills, poultry houses (for both broiler and egg production), and slaughterhouses are on an increase. Locals, international agribusiness firms with existing operations in Africa, international agribusiness firms seeking new prospects, or African governments (such as Morocco or South Africa) investing in adjacent countries make investments in Africa. For example, Sedima, a Western African French-speaking powerhouse, was founded in 1976 with only 120 chicks. Sedima has seen a variety of renovations and investments over the years. Currently, the company possesses a slaughterhouse equipped with stork equipment and capable of producing 4,000 to 6,000 chicks per hour. Furthermore, it collaborates with KFC to supply its broiler meat. As a result, investment in poultry infrastructure across the African continent is predicted to boost the growth of the poultry feed market.

Leading Market Players

Anko Food Machine Co. Ltd.
Berkshire Hathaway Inc.
Bucher Industries
John Bean Technologies Corporation (JBT)
Hosokawa Micron Corp.
GEA Group
Mallet & Company, Inc.
NICHIMO CO., LTD.
SPX Corporation
Tetra Laval International S.A.

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The conventional segment to maintain its leadership status throughout the forecast period

Based on nature, the conventional segment held the highest market share in 2021, accounting for 84% of the global poultry feed market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increasing demand for poultry and its products. Moreover, the organic segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031, owing to rise in demand for natural and organic feed globally.

The offline segment to maintain its lead position during the forecast period

Based on distribution channel, the offline segment accounted for the largest share in 2021, contributing to 81% of the global poultry feed market, and is projected to maintain its lead position during the forecast period. This is because presence of this product is more on offline stores and consumers prefer the physical stores around the globe. However, the online segment is expected to portray the largest CAGR of 7.8% from 2022 to 2031, owing to the use of social media and increasing digital shopping platforms across the world.

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Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2021, accounting for more than two-fifths of the global poultry feed market. Moreover, the same region is expected to witness the fastest CAGR of 7.4% during the forecast period, owing to high production levels.

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David Correa
Allied Market Research
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