The Global Poultry Market was valued at US$ 284,434.4 Mn in 2022, and is expected to exhibit a CAGR of 3.53%, in terms of revenue, over the forecast period (2023-2030), to reach US$ 375,412.5 Mn by 2030. Poultry are domesticated birds such as chicken, duck, turkey, and geese, which provide food and fiber. Global Poultry Market is expected to witness significant growth over the forecast period, owing to increasing global population and purchasing power of people. Poultry meat is the most preferred meat among beef, pork, and other red meat, and is comparatively less expensive. This is expected to boost growth of the Global Poultry Market over the forecast period.
Figure 1. Global Poultry Market Market Share (%), By Segment Type
Global Poultry Market – Growth Drivers
Increase in Production and consumption
Increasing production and consumption of meat poultry compared to other meat products is expected to drive growth of the Global Poultry Market over the forecast period. For instance, according to the American National Chicken Council Statistics, published in September 2022 the per capita consumption of total red meat was 111.5 pounds, whereas, per capita consumption of poultry meat was 115.1 pounds in 2022, across the globe.
Growing Focus on Health Consciousness
The various health benefits related to the consumption of poultry products are projected to increase sales. For e.g., chicken is considered to be among the healthiest meat as its low in cholesterol and high in protein.
Growing Focus on Animal Health
Increasing focus on animal health will also help the market growth. Increased cattle husbandry will almost certainly increase poultry feed demand. Growing demands for animal-based products will drive market demand higher.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 284,434.4 Mn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2023 CAGR: | 3.53% | 2030 Value Projection: | US$ 375,412.5 Mn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Tyson Foods, Inc., JBS S.A., Pilgrim's Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Global Poultry Market – Market Restrains
Poultry Diseases
Having a sick chicken is stressful enough, but knowing that their illness could affect the population adds to the stress of chicken care. Furthermore, not all chicken diseases can cross the species barrier, causing harm to not only humans, but also to other animals. This factor may constrain the growth of the poultry market in the upcoming period.
Based on species type, chicken segment accounted for the largest revenue share accounting for 51.20% in 2022 in the global poultry market. The segment growth is driven by increasing preference for chicken products than other meat products. For instance, according to the U.S. Department of Agriculture (USDA), meat consumption preference in the U.S. has shifted from beef towards chicken, owing to easy availability of ready-to-eat chicken products coupled with lower price of chicken compared to beef, thereby expected to drive growth of chicken segment over the forecast period. Moreover, duck segment is expected to witness substantial growth rate of 3.0% in the Global Poultry Market over the forecast period. Duck meat contains optimum level of essential fatty acids & amino acids, and provides high nutrition. Such factors are expected to increase the consumption of duck in the near future, and this is also expected to drive growth of the segment over the forecast period.
Global Poultry Market - Recent Developments
August 2022: Tyson Foods has announced the expansion of its Caseyville Prepared Foods Facility. The USD180 million investment project will help meet the growing demand for Tyson Foods’ iconic Hillshire Farm® and Jimmy Dean® branded products. The first line is expected to begin production this fall with the expansion set to be completed in the summer of 2023. The Caseyville plant currently produces Hillshire Farm® and Jimmy Dean® products and the 170,000 square foot expansion will specifically allow a larger production of grab-n-go snacking and breakfast items.
July 2022, a U.S. - Based Tyson Foods,Inc. and Saudi-grounded Tanmiah Food Company have accessed into a collaboration. Tyson Foods acquired a 15% equity stake in Tanmiah subsidiary Agriculture Development Company (ADC) and a 60% equity stake in Supreme Foods Processing Company. This investment will enable consumers to access poultry inventories in Saudi Arabia to meet the growing demand for protein in the Middle East and other markets.
July 2022: BRF Sadia inaugurated its new plant, 'Al Joody,' in Dammam, Saudi Arabia, which helps in increasing its monthly production capacity to 1,200 tons of food, which will play an integral role in the growth and development of the poultry industry locally, in the interest of the Saudi consumer.
The Cobb Research Initiative has been created to bring together diverse scientific research disciplines to create advancements in protein production and propel poultry genetics further.
Global Poultry Market -Regional Insights
Among regions, Asia Pacific accounted for the largest revenue share of 38.40% in the Global Poultry Market in 2022, and is expected to witness significant growth over the forecast period, owing to rising poultry consumption in countries such as China, India, Malaysia and Australia. For instance, according to the Food & Agricultural Organization (FAO), the per capita consumption of poultry products pegged at 45.95 kg and 43.15 kg in Malaysia and Australia respectively, in 2022. These factors are expected to drive demand for poultry in Asia Pacific during the forecast period (2023-2030).
Furthermore, Middle East is expected to witness significant growth over the forecast period. For instance, according to the USDA Foreign Agricultural Service, Middle East is expected to witness high demand for poultry meat during 2023 to 2030. Furthermore, according to the U.S. Department of Agriculture (USDA), high rate of arriving tourism is expected to drive demand for poultry in the region. For instance, according to the Food & Agricultural Organization (FAO), average per capita consumption of poultry meat in the Middle East was 38.6 kg in 2022, with Kuwait accounting for highest per capita consumption of 45.8 kg.
Figure 2. Global Poultry Market Market Share (%), By Region
Global Poultry Market – Key Players
Key companies operating in the Global Poultry Market include Tyson Foods, Inc., JBS S.A., Pilgrim's Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group.
Definition: Poultry are domesticated birds raised for meat, eggs, and feathers. Popular birds of poultry include chickens, turkeys, ducks, geese, guinea flow, and squabs.
Poultry are domesticated birds raised for meat, eggs, and feathers. Popular birds of poultry include chickens, turkeys, ducks, geese, guinea flow, and squabs. Global Poultry Market is expected to witness significant growth over the forecast period, owing to increasing population. For instance, according to the World Bank, global population is 7.902billion as of January 2023 and is projected to reach 9.802 billion by the end of 2050.
Poultry meat is the most preferred meat among beef, pork, and other red meat, and is comparatively less expensive. This is expected to boost growth of the Global Poultry Market over the forecast period. Furthermore, increasing income disposable income of the populace coupled with changing preferences among people is expected to increase demand for poultry items such as eggs and meat.
Market Dynamics
Based on distribution channel, in 2022 specialty stores accounted for the largest market share in terms of revenue and contributed for 36.7% in the global poultry market. Specialty stores offers specific products according to the type of store. People prefer buying poultry products through specialty stores as it is considered to offer fresh products. This is expected to increase demand for poultry from specialty stores over the forecast period.
Among regions, in 2022, Asia Pacific held dominant position in the Global Poultry Market and accounted for a revenue share of 38.40%. Asia Pacific holds a larger share of global population. For instance, according to the United Nations Population Fund (Asia and the Pacific), Asia Pacific region is home for 60% of the global population accounting for 4.3 billion people, where India and China are the most populous countries in the region. Therefore, increasing population in the region is expected to increase demand for poultry products, which is further expected to drive regional Global Poultry Market growth over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients