Global poultry market to grow to $493.21 billion by 2026 - report

Report considers poultry processing sector
calendar icon 17 June 2022
clock icon 2 minute read

According to a market research report by Reportlinker, the global poultry market is expected to grow from $318.58 billion in 2021 to $350.87 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The market is expected to grow to $493.21 billion in 2026 at a compound annual growth rate (CAGR) of 8.9%.

The poultry market consists of sales of poultry by entities that slaughter poultry and prepare processed poultry and meat byproducts. Poultry includes chickens, ducks, geese, rabbits, small game, and turkeys.

Poultry processing is fully or semi-automated in most countries. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. It is distributed through various channels such as supermarkets/hypermarkets, convenience stores and e-commerce.

Asia Pacific was the largest region in the poultry market in 2021. Western Europe was the second-largest region in the poultry market. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The poultry manufacturing growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth.

Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user poultry market, thereby driving poultry manufacturing during the forecast period.

Poultry processing companies are increasingly using 3D imaging systems to optimize yields. 3D imaging systems model the poultry bird using sensors and actuators to determine the position of the cut. The bird is put under the vision system, which takes the images and measurements and geometry is determined. Near-infrared sensors determine the amount of meat and bone present in the bird. Vision analysis enables the system to perform optimal cuts for each bird regardless of the size and shape. It is a data-driven process that maximises the yield and minimises per unit cost for poultry meat processing.

Major companies involved in pioneering this technology include Gainco, meat, and poultry equipment manufacturer, and Midwest Machine LLC.

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