Poultry Market to Reach US$ 347,265.8 Mn by 2027 - Coherent Market Insights

The global poultry market was valued at US$ 267,332.3 Mn in 2018, according to Global Poultry Market Report, by Species Type (Chicken, Turkey, Duck, Geese, and Others), by Distribution Channel (Hypermarkets, Supermarkets, Online Channels, Specialty Stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by .

The global poultry market is expected to reach US$ 347,265.8 Mn by 2027, exhibiting a CAGR of 3.0% over the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, attributing to rising disposable income of the populace along with growing preferences towards poultry products.

Increasing population across the globe is expected to boost growth of the global poultry market over the forecast period. Poultry is the most widely consumed type of meat. It is a rich source of protein. For instance, according to the World Bank, the world population was 7.6 billion in December 2017, and is expected to reach 11.8 billion by 2021. China’s population was 1.386 billion in 2017, and it increased to reach 1.393 billion in 2018.

Rising disposable income has driven growth of the global poultry market in 2017, and is expected to increase during the forecast period. Increasing consumption of poultry due to rising per capita GDP and consumer spending, especially in the emerging economies such as India and China is expected to drive growth of the poultry market. For instance, according to India Brand Equity Foundation (IBEF), the per capita GDP of India is expected to reach US$ 3,273.85 by 2023 from US$ 1,983 in 2012. Low production cost of eggs and high production of poultry meat and eggs is expected to drive the poultry market growth in India.

Furthermore, increasing demand for poultry from the agriculture industry is expected to boost the market growth over the forecast period. Poultry sector is one of the fastest growing sectors in India’s agriculture industry. For instance, according to the Indian Council of Food and Agriculture (ICFA), India’s poultry market was valued at US$ 12.56 billion in 2013, which increased to reach US$ 13.95 billion in 2016.

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https://www.coherentmarketinsights.com/market-insight/poultry-market-1230

Browse 24 market data tables* and 17 figures* on "Poultry Market” - Global forecast to 2027.

Key Takeaways of the Market:

• On the basis of distribution channel, specialty stores segment accounted for the largest revenue share of 36.7% in the global poultry market in 2018. Moreover, online channels segment is expected to witness significant growth over the forecast period. The significant growth of the online segment is majorly attributed to rising penetration of low-cost smartphones, coupled with rapid advancements in internet services and digitization. For instance, according to the Office for National Statistics, 87.9% of adults in the U.K. used internet in 2016, compared to 86.2% in 2015. Moreover, easy delivery options, secured payment options, and increasing promotional and marketing activities by e-commerce companies are further expected to boost consumer inclination towards purchasing poultry products through online channel, which is expected to drive online segment growth over the forecast period.
• Major players 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.
• Major players operating in the poultry market are focused on adopting various strategic initiatives such as mergers & acquisitions and plant capacity expansions, in order to expand their global presence.