The Global Poultry Feed market is set to witness a higher CAGR of 5.29% during the forecast period. Poultry feed is a broader concept in animal feed, animal husbandry and is an important part of poultry. With the upper traction of globalization and rise in consumer spending capacity, the industry is gaining a wider attention due to improved products and availability of a wide range of options. Poultry meat ranks higher in the category and hence there are greater opportunities for market sustenance in the forecast period.
The drivers for poultry feed market include rise in poultry consumption and government regulations in various countries such as China and India. Poultry dominates the meat market with broilers accounting for more than a larger share in the global market. Packaged poultry feed is likely to gain a significant market share due to rise in industry participants and upcoming opportunities in the global market.
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Market segmentation based on type includes antibiotics, antioxidants, feed enzymes, amino acids and feed acidifiers. Feed acidifiers account for a significant market share during the forecast period. Geographical segmentation for poultry feed market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are likely to gain a significant market share owing to rise in demand for poultry and broilers, rise in disposable income and change in lifestyle is likely to propel the market demand during the forecast period. Europe and North American regions are likely to gain an upper traction due to rise in demand and economic stability.
Middle East and African regions are likely to gain a significant market share due to rise in poultry keeping and increase in export of turkey. The key players in the poultry feed market include Royal DSM N.V., Alltech Inc, Evonik Industries AG, BASF SE, Novus International Inc, Chr. Hansen Holdings S/A, Charoen Pokphand Plc, Associated British Foods Plc, Cargill Inc, Miratorg Agribusiness Holding, Kyodo Shiryo Co, Kent Nutrition Group Inc, Westeon Milling Animal Nutrition, Zheng DA International Group, EWOS Group, Balance Agri-Nutrients Ltd, J.D. Heiskell & CO, Nutreco N.V., and De Heus Voeders B.V., DeKalbs Inc.
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