Poultry feed market is a part of vast animal feed market and makes an important part of it as poultry is invariably consumed in most parts of the world. The concept of animal feed has been there in the market for several years especially in the developed markets. However, with the advent of globalization and rise in the standard of living of consumers, companies are expanding in the emerging markets of the world with improved products and wide range of options for each animal group. Poultry meat is the highest among others such as pork, beef and fish meat. Therefore, vast opportunity lies in the poultry feed segment.
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Poultry Feed Market: Drivers & Restraints
Rising per capita income and widespread poultry diseases are the major driving factors of the poultry feed market globally. In addition, growth of domestic and international quick service restaurants in developing countries and demand for quality meat products by consumers has significantly contributed to the rising demand of poultry feed those regions. In 2014, Asia Pacific was the largest market in terms of poultry feed demand and revenue and would continue to dominate the market for several factors. The market growth is attributed to the higher standard of living among consumers coupled with shift towards away-from-home-eating. Manufacturers are closely working with the factory farmers to direct them towards higher yield of poultry thereby increasing their return on investment (ROI). For instance, Cargill Inc. were engaged closely with Malaysia based TD Poultry to deliver best poultry solution. As a result, TD Poultry could achieve remarkable results in broilers with 1.63 feed conversion rates. Also, 2.35 kg body weight was achieved in 35 days, down from previous 40 days.
Poultry Feed Market: Segmentation
The various type of poultry feed additives available in the market consists of antibiotics, vitamins, antioxidants, amino acids, feed enzymes and feed acidifiers. Feed acidifiers are the largest among all other poultry additive segment across the world. The regional segmentation includes North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific is the largest market followed by North America. On the basis of type, the poultry feed market can be segmented as broilers, layers, turkey and others. The consumption of meat varies from region to region, for instance, in North America, broilers is the most preferred meat category and antibiotics falls under the largest category under the feed additives segment.
Poultry Feed Market: Market Overview
Poultry feed is required to increase the feed conversion ratio by improving gut micro flora thereby enhancing animals health. It also maintains animal health by preventing diseases among them. The manufacturers are concentrating more on the developing markets to tap the under penetrated feed market in countries such as Vietnam, India, Indonesia, South Africa, Lebanon and Turkey. These markets offer greater opportunities to increase revenue and sales with higher per capita expenditure on quality food. Moreover, it is a proven fact that with rise in per capita income, people tend to consume more meat and meat products. Therefore the poultry feed market is expected to grow at a healthy CAGR through the forecast period (2015-2020).
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Poultry Feed Market: Recent Development
Players such as Novus International, Inc. and Kemin group continue to deliver new products for poultry farmers. In November 2012, Novus International, Inc. launched AVIMATRIX- a feed solution for optimized broiler performance by acting over gut environment through targeted and controlled release of compounds in the broilers gut. There is an increasing demand of solution oriented customized products from the poultry farmers in the emerging markets. In May 2013, a South African firm AgriProtein Technologies bagged the Innovation Prize for Africa (IPA) for developing a commercial method to develop animal feed through maggots.
Poultry Feed Market: Key Players
Key global players of the poultry feed market include Alltech Inc., ADM (Archer Daniels Midland Company), ABF Plc (Associated British Food), BASF (Badishce Anilin und Soda Fabrik), Charoen Popkhand Foods, Cargill Inc., Evonik Industries AG, CHR.Hansen Holdings A/S, Novus International Inc, Nutreco NV, Royal DSM N.V., DLG Group and InVivo NSA.