Emergence of Bird Flu and Increasing Consumption of Vegan Food to Limit Growth of Poultry Feed Market

 

Poultry Feed Market

Poultry feed is vital food for commercial farm poultry, which includes chickens, geese, ducks and many other domestic poultry species. It provides the necessary protein, minerals and vitamins to keep these poultry healthy, safe and productive. Poultry feed can be made from whole grains, which are better for your health; some also recommend organic feed if you're concerned about harmful chemicals or pesticides. While it's good to eat organic produce, make sure you purchase chicken feed that is free of BSE, which affects millions of chickens worldwide.

Market Dynamics

Significant growth in the poultry sector is expected to propel growth of global poultry feed market. For instance, according to a report in 2019, by the U.S. Poultry and Egg Association, National Chicken Council, National Turkey Federation and United Egg Producers, the poultry sector generated US$ 495.1 billion in economic activity and US$ 38.5 billion in government revenue.

Emergence of bird flu is expected to hinder growth of the global poultry feed market. For instance, in January 2021, India recorded several cases of bird flu in major states. Moreover, increasing consumption of vegan food is also expected to limit the market growth. For instance, according to The Vegan Society, the number of people consuming only vegetarian food in the U.K. increased from 276,000 in 2016 to 600,000 in 2019.    

Among regions, North America is expected to witness significant growth in the poultry feed market, owing to high preference for chicken in the region. For instance, according to research presented at the 2018 Chicken Marketing Summit, Florida, U.S., 86% of consumers during a two week survey in the U.S. ate a chicken meal or snack purchased from a supermarket and 68% ate a chicken meal or snack from a food service establishment.

Asia Pacific is also expected to witness significant growth in the poultry feed market, owing to increasing production of dressed chicken in the region. For instance, in the Philippines, the production of dressed chicken increased 40% during 2009-2018, as per the Philippine Statistics Authority.

Competitive Analysis

Major players operating in the global poultry feed market include, Chr Hansen, Evonik Industries AG, BASF SE, Royal DSM, Novus International, Inc., Alltech, Kent Nutrition Group, Inc., Weston Milling Animal Nutrition, S R Group, Sodrugestvo Group, and ADM Animal Nutrition.

Major players operating in the global poultry feed market are focused on approval and launch of new products to expand their product portfolio. For instance, in January 2021, Chr Hansen received EU approval for its triple strain probiotic, branded as GalliPro Fit.

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