Tremendous growth expected in global poultry feed premix market

calendar icon 15 June 2022
clock icon 3 minute read

According to a report published by Research and Markets, the global poultry feed premix market is expected to grow at a compound annual growth rate of 3.20% over the forecast period to reach a market size of US$6.667 billion in 2027 from US$5.347 billion in 2020.

The market for poultry feed premix is expected to grow as the population's desire for animal-based products grows. Growing consumer preference for white meat over red meat increased meat mass production, and a growing livestock business is all factors that will move the market forward. In the forecast term, however, the rising popularity of meat and meat-related goods, as well as increased poultry consumption, will generate new chances for the poultry feed premix market.

The poultry feed premix market's growth would be limited in the forecast period by high raw material costs and rising operating costs.

Manufacturers have been influenced by the increased demand for safe and nutrient-dense animal feed to improve quality and safety while maintaining cost-effectiveness. The International Feed Industry Federation (IFIF) estimates that the global compound feed output has surpassed 1 billion tonnes per year. The production growth rate was larger in developing countries than developed countries, especially in developing countries.

In 2017, demand from emerging areas such as the Asia Pacific and Latin America accounted for 47% of worldwide demand. According to the FAO report "World Agriculture: Towards 2015/2030," the population of emerging countries in the Asia Pacific region - India, China, Indonesia, Vietnam, and Thailand - will consume meat at a pace of 2.4% per year until 2030.

The demand for high-quality feed concentrates and premixes to improve the meat weight and quality of the animals has risen as a result. Similarly, according to the FAO, Brazil had the greatest cow population in South America in 2017, with 330 million head, and it is expected to increase substantially above the regional average. The increased consumer awareness of healthy food and the demand for export-quality meat products are predicted to drive up demand for feed premixes.

Another prime factor that is expected to drive lucrative demand for poultry feed premix is the rising demand for poultry meat. Data from the United Nations Food and Agriculture Organization (UN FAO) shows that global poultry production has increased from 99.30 million tonnes in 2010 to 127.31 million tonnes in 2018.

The US is one of the largest players in the market, closely followed by China and India. In the US, poultry production in 2018 stood at 22.30 million tonnes, up from 19.58 million tonnes in 2010. China accounted for 20.12 million tonnes of poultry production in 2018, while India accounted for 3.62 million tonnes of global production. It is anticipated that advanced breeding methods and rising demand will further expand the market for poultry feed Prix during the forecasted years.

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