The group of domesticated birds such as chicken, geese, and ducks is referred as poultry, which provide food and fiber. Poultry industry is rising continuously, owing to an increasing population and their purchasing power, which is fueling the growth of poultry market. According to the World Bank, the world population was 7.6 billion in December 2017 and is expected to reach 11.8 billion by 2100. Furthermore, poultry is most preferred form of meat and it is relatively less expensive, which in turn is driving the growth of poultry market. Poultry is the most widely consumed type of meat coupled with eggs worldwide. It is a rich source of protein. However, high prevalence of diseases such as avian influenza, fowl cholera, infectious bursal disease, and others due to production of poultry in Europe and Asia Pacific region is one of the factor hindering the growth of poultry market.
On the basis of species type, poultry market is segmented into:
On the basis of distribution channel, poultry market is segmented into:
Among species type segment, chicken accounted for the largest market share in terms of revenue, owing to increasing consumption of chicken due to its nutritional benefits as compared with other meat such as lamb and beef, which have low iron content. According to the Australian Chicken Meat Federation (ACMF), the global demand for chicken meat is expected to increase over 400 MT (million tons) by 2030. Furthermore, chicken is the cheapest of all domestic livestock meat, which increases its demand in low income economies such as Africa.
Poultry -Market Outlook:
Some of the major market players operating poultry market include JBS S.A., Tyson Foods, Inc., BRF S.A., Wen's Food Group, Pilgrim’s Pride Corp, Perdue Farms, Sanderson Farms, Baiada Poultry Company, Bates Turkey Farm, Inc., and Suguna Foods Private Limited.
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