Poultry Feed Market by Feed Type and Region: Global Opportunity Analysis and Industry Forecast, 2019-2023," the global poultry feed market size is expected to account for $157,715.1 million by 2023, growing at a CAGR of 6.9% from 2019 to 2023. In 2018, the complete feed segment led the poultry feed market, followed by the concentrates segment. Growth of the complete feed segment is supplemented by rise in global population, increase in poultry meat demand, and surge in poultry production.
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Increase in investments in poultry feed mills, poultry houses (for both broiler and egg production), and slaughterhouses is currently booming in Western and Eastern Africa. The investments in Africa are done by local people, international agribusiness firms that are already involved in businesses in Africa, international agribusiness firms seeking for new opportunities, or African countries (such as Morocco or South Africa) that are investing in neighboring countries. For example, Sedima, a giant of the Western African French-speaking countries, was established in 1976 with only 120 chicks. Over the years, Sedima witnessed a number of improvements and investments. Presently, the company owns a slaughterhouse with stork equipment and with a capacity of 4,000 to 6,000 chicks per hour. In addition, it works in collaboration with KFC to supply its broiler meat. Thus, investment in poultry infrastructure throughout African region is expected to accelerate the growth of the poultry feed market.
Based on products, the complete feed segment held the major share in 2018, accounting for more than 85% of the total market share in 2018, and is estimated to maintain its lion's share during the forecast period. This is due to rise in demand for animal protein and surge in poultry exports from Asia-Pacific. However, the concentrates segment is expected to register the fastest growth rate with a CAGR of 8.6% from 2019 to 2023. This is attributed to changes in food consumption habits and trend of vertical farming. The report also analyzes the premix segment.
Asia-Pacific accounted for nearly one-third of the total share in 2018, and is estimated to maintain its dominant position during the forecast period. This region is expected to grow at the fastest CAGR of 9.3% from 2019 to 2023. This is due to growth in population, social factors such as traditional poultry consumption patterns, and strong economic growth. The research also offers a detailed analysis on North America, Europe, Middle East, Africa, and South America.
Leading market players
Leading market players analyzed in the research include Cargill Inc., Tyson Foods, Inc., Land O'Lakes, Inc., ADM Animal Nutrition, Alltech, J.D. Heiskell & Co., Perdue Farms Inc., Hi-Pro Feeds, Inc., Kent Nutrition Group, Inc., and Southern States Cooperative.
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