Chicken Feed Market - Forecast(2024 - 2030)

Chicken Feed Market Overview

Chicken Feed Market size is estimated to reach $156.3 billion by 2027, growing at a CAGR of 6.2% during the forecast period 2022-2027. Chicken feed is nothing but the feed composed especially for chickens raised in animal husbandries. In order to meet the sky-rocketing demand for poultry products like meat and eggs worldwide, enlarging poultry productivity has become necessary more than ever. Therefore, chicken feed has become an inextricable part of poultry farming in recent years. In addition to that, many poultry owners have started using tube feeders to keep the seeds dry and clean and their quality intact. Calcium iodate and ethylene diamine dihydriodide are two of the most renowned additives used in chicken feed. Poultry birds including chickens find themselves incapable of digesting the diet properly which leads to infections such as pathogenic avian influenza. As a result, several enzymes and dietary minerals like phosphorus, potassium, sulfur, and magnesium are added to feed to ensure their overall health. Enzymes like phytase help break down the myo-inositol hexaphosphate (phytate), release phosphate, and improve the overall digestibility. Expanding demand for poultry birds for their meat, eggs feathers, and manures, soaring poultry farming, heightening disposable incomes, ameliorating retail infrastructure in developing counties, broadening health complications with the rising geriatric population, steeping cuisine culture, and health attentiveness among consumers are factors set to drive the growth of the Chicken Feed Market for the period 2022-2027.

Report Coverage

The report: “Chicken Feed Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Chicken Feed Market.

By Nature: Organic and Conventional.
By Form: Powder, Liquid, and Granules.
By Source: Plants, Faunas, Microorganisms.
By Additives: Amino acids, Enzymes, Trace minerals, Antioxidants, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

• Geographically, the North America Chicken Feed Market accounted for the highest revenue share in 2021. The growth is owing to a high number of gym memberships, health attentive public in the region, high consumption of food like the chicken nugget, sound purchasing power, and a well-established network of food service providers and modern retail outlets.
• The startling prevalence of chronic health illnesses, the rising complication of growth stunting in developing countries like India, augmenting demand for protein-rich food, growing economic affluence of developing countries, and broadening demand for chicken and eggs are said to be preeminent drivers driving the growth of Chicken Feed Market. The increasing frequency of bird flu, rising inflation rates, unemployment, and regular virus mutations are said to reduce the market growth.
• Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Chicken Feed Market report.

Chicken Feed Market Segment Analysis-By Nature

The Chicken Feed Market based on the nature type can be further segmented into organic and conventional. The conventional segment held the largest share in 2021. Conventional feed is derived from the plants or animals which are raised with the help of growth hormones and antibiotics. The conventional feed has its own advantages over its alternative such as no harsh rules to follow during manufacturing, cost-effective and raise the revenue of producers, and across the board availability. Using chemical or other growth hormones may be beneficial in the short term as they facilitate plant or animal growth but exposure to fertilizers assisted plant or consumption of such meat can set severe health problems in motion in both animals and humans. Therefore, Organic is estimated to be the fastest-growing segment with a CAGR of 7.5% over the forecast period 2022-2027. This growth is owing to rising health proactiveness among consumers. In addition to that, meat derived using organic options is known for its low amount of saturated fats and high presence of omega-3 fatty acids that play a key role in ensuring the body’s well-being.

Chicken Feed Market Segment Analysis-By Additives

The Chicken Feed Market based on additives can be further segmented into Amino acids, Enzymes, Trace minerals, Antioxidants, and Others. The amino acid segment held the largest share in 2021. The growth is owing to their protein-rich nature. Lysine, Tryptophan, valine, and Methionine are most frequently introduced in feeds. Adding amino acids to feed not only expands its proficiency but also reduced its overall cost. Amino acids promote chicken growth, lactation, and reproduction. Nevertheless, amino acids along with antioxidants and enzymes are estimated to be the fastest-growing segments with a CAGR of 8.4% over the forecast period 2022-2027. Antioxidants promote chicken health by nullifying the attacks of unstable molecules like free radicals; whereas, enzymes on another hand, speed up the chemical process in the body and improve the overall digestibility of chickens. Enzymes like Phytase set out their effect by beginning the breakdown of Myo-inositol hexaphosphate (phytate) and subsequently releasing the phosphate content to overcome nutrition deficiency.

Chicken Feed Market Segment Analysis-By Geography

The Chicken Feed Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as the gargantuan population. Asia is home to more than 50 percent of the global population. In addition to that, shifting preferences of consumers from red meat to white meat has played a significant role in heightened consumption of chicken in countries like China, India, Australia, and Japan; consequently, with an aim to meet the unprecedented surge in demand, poultry owners are rushing toward top quality chicken feed. In addition to that, the growing activities of regional players have been a key reason for the market hold. For instance, CP Foods Vietnam has set up the largest breeding and processing complex named Binh Phuoc with an annual processing capacity of 100 million chickens for boosting exports in Vietnam. Nevertheless, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to rising disposable income levels, escalating prevalence of serious health ailments because of the growing old-age population, and expanding chicken meat production. In 2020, holding 2nd spot in global production, China produced nearly 14,600 metric tons of chicken meat; whereas, Indian production stood at around 4000 metric tons.

Chicken Feed Market Drivers

Rising chicken and meat consumption in the wake of swelling health complications is anticipated to boost market demand

Regular intake of chicken preserves the bone mineral density and eventually lowers the risk of bone illnesses like osteoporosis. Moreover, it helps in weight management by conferring a high amount of protein with a lower amount of food intake, and weight management is directly proportional to better heart health. Therefore, the growing old-age population and soaring health complications are actually a blessing in disguise for the chicken feed market. In 2019, around 230 million people in India were facing osteoporosis. Nevertheless, the prevalence rate of the disease is increasing year on year basis. In 2021, the U.S. witnessed 14.2 million cases, the disease inflicted the people who were above 50 years old. Therefore, as the world geriatric population is projected to touch 2 billion before long, the figure is likely to increase precipitously. On another hand, Heart Attack doesn’t even need a mention, it is the leading cause of global deaths every year. As a result, the overall demand for chicken has sky-rocketed. According to a report published in 2021 chicken was the most consumed meat worldwide with more than 116 million tons of consumption.

Increasing gym memberships, soaring disposable income, especially in low-income nations, and the emergence of foods like “Chicken Nuggets” are expected to boost market demand

Growing obesity has made millions of people stare at gym doors. With an aim to lead a healthy life, more and more people globally are purchasing a membership. According to a report, with a hike of 22 percent from 2005, gym memberships in the U.S. had reached 60.9 million in 2021. Additionally, growing incomes levels of people in developing countries are enabling people to enroll in such facilities without any financial restraint. For instance, the GDP per capita income in China reached $12,551 in 2021. On another hand, GDP per capita in other countries like India and Indonesia is improving on a yearly basis. According to the IMF World Economic Outlook from 6.45 percent of global GDP per capita in 1993, the GDP per capita income of India improved to 18.5 percent in 2019. The figure has witnessed a slight plunge in the last two years 2020 and 2021 because of the coronavirus but it is likely to bounce back as soon as the pandemic comes to an end. Also, the expansion of foodservice retailers like McDonald's has completely transformed the use of chicken by offering products like Chicken McNuggets.

Chicken Feed Market Challenges

Animal illnesses like “Bird Flu”, proliferating inflation rates, and widescale unemployment following covid-19 are anticipated to hamper the market growth

The rising threat of bird flu has its fair share of both drivers and challenges also. While the rise in prevalence can encourage poultry owners to use better quality chicken feed, it can also traumatize consumers and turn them aversive to consuming chicken. In January 2022 H5N1 or avian influenza was on the loose in Israel and the UK. The virus has infected more than 1 million chickens and turkeys and had killed over 7,500 cranes in Israel. Considering such a massive surge in incidences of bird flu worldwide the probability of possible mutations in virus structure which can affect human beings also has elevated which might encourage people to refrain from consuming chickens. On another hand, sparing inflation rates across the globe and overwhelming unemployment post-covid-19 are another big challenge likely to curb the growth of the aforementioned market.

Chicken Feed Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Chicken Feed market top 10 companies include-

1. Pilgrim’s Pride Corporation
2. WH Group
3. Danish Crown Group
4. JBS SA
5. Tyson Foods
6. Vion Food Group
7. Muyuan Foods Hormel Foods Corporation
8. Hi-Pro Feeds
9. Alltech
10. Land O’Lakes

Recent Developments

• On February 18, 2022, Sao Paulo, Brazil-based company JBSS.A. (a firm which is known for its chicken, beef, and pork processing) announced the withdrawal of the offer under which it was going to acquire the remaining 20 percent ownership interest in Colorado, United States-based largest chicken producer “Pilgrim’s Pride.” JBS had increased the offer from $26.5 per share to $28.5 after the denial of Pilgrim’s board but remained unable to pull off the deal.
• On September 27, 2021, Colorado, United States-based multinational food firm “Pilgrim’s Pride” which is famous for its chicken supplies announced the successful acquisition of the meats and meals business of Tralee, Ireland-based food company “Kerry Group.” The total value of the transaction stands at around $932 million.
• On November 11, 2020, China-based animal feed additive manufacturing company “Bluestar Adisseo”, commonly known as Adisseo announced the successful acquisition of Netherlands-based feed additive firm “FRAmelco Group.” The acquisition is done by Adisseo mainly to strengthen its desire to dominate the animal additives market.

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