Poultry feed materials are referred to single or multiple ingredients that include raw or semi-processed or processed ingredients intended to feed poultry animals. Increasing demand for animal-based protein is a major factor, which is expected to drive growth of the poultry feed market over the forecast period. The leading industry in feed production across the globe is poultry feed segment.
Moreover, increasing demand for animal-based food such as fish, milk, eggs, and meat coupled with preservation of poultry health through feed additives and nutrition to reduce requirement of antibiotics is expected to drive growth of the poultry feed market over the forecast period. For instance, according to Poultry Hub, an initiative of Poultry Hub Australia, worldwide poultry production was around 111,000 thousand metric tons in 2015 and is expected to reach 131,255 thousand metric tons by 2025, exhibiting a CAGR of 24% over the forecast period (2019 to 2027).
Major companies operating in the global poultry feed market include 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.
Key companies engaged in manufacturing poultry feed are adopting various strategies such as mergers & acquisitions and new product development, in order to maintain their competitive position in the global poultry feed market. For instance, in August 2019, Elanco Animal Health entered into an agreement with Bayer AG to acquire its animal health business for US$ 7.6 billion.
On the basis of application, the global poultry feed market is segmented into:
On the basis of additives, the global poultry feed market is segmented into:
On the basis of region, the global poultry feed market is segmented into: