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New York, November 24, 2021/PRNewswire/-According to the research of "Poultry Feed Market Forecast to 2028-COVID-19 Impact and Global Analysis-By Poultry Type, Form and Category" by Insight Partners, the market is expected to reach 2028 From 124.611 billion U.S. dollars in 2021 to 156.711 billion U.S. dollars in 2021; it is expected to grow at a compound annual growth rate of 3.3% from 2021 to 2028. Factors such as growth in poultry production and rising demand for compound feed in the poultry market are expected to drive the growth of the poultry feed market during the forecast period.
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Number of charts
Type, form and category of poultry
North America; Europe; Asia Pacific; Latin America; Multilateral Environmental Agreements
United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecasts, company rankings, competitive landscape, growth factors and trends
In 2020, the Asia-Pacific region will occupy the largest share of the global poultry feed market. Due to the large population base of poultry meat consumption, the Asia-Pacific poultry feed market has reported significant growth and is expected to continue to grow in the next few years. In addition, according to the Agricultural Outlook 2020-2029 of the OECD, the surge in poultry production in Asia-Pacific and Latin America is expected to account for 60% of the growth in global poultry meat production. All these factors may promote the growth of the Asia-Pacific poultry feed market during the forecast period.
The impact of the COVID-19 pandemic on the poultry feed market
The ongoing COVID-19 pandemic has forced preventive measures to completely change the state of the animal feed industry and has a negative impact on the growth of the poultry feed market. Governments around the world have ordered the closure of their international ports, further disrupting the poultry feed supply chain. The COVID-19 pandemic has affected the supply of raw materials used to prepare poultry feed in almost all countries. Corn and soybeans are the main ingredients of poultry feed. Many countries in the world that rely on importing these raw materials to prepare poultry feed have encountered major problems in purchasing these raw materials. Due to the closure of feed mills, it is difficult to obtain poultry feed in most places. Global consumption of poultry meat has fallen sharply. The poultry feed industry has been severely affected by restaurant closures around the world. However, as the economy plans to resume operations, global demand for poultry feed is expected to rise. The growing demand for poultry feed and large investments by well-known manufacturers are expected to drive the growth of poultry feed.
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The growing demand for compound feed in the poultry market drives market growth
Poultry compound feed is made of various raw materials and additives, and contains various components according to the nutritional needs, growth stage and feeding characteristics of the poultry. It studies the characteristics of poultry feed ingredients and determines the nutritional requirements of poultry. The ratio of each feed ingredient is determined in the poultry feed formula. A balanced feed composition is needed to ensure the health of poultry. The compound feed contains balanced vitamins and other elements, which can promote the health and well-being of poultry. Therefore, the increasing demand for poultry compound feed will drive market growth in the next few years.
Poultry feed market: overview of market segments
According to the type of poultry, the poultry feed market is divided into layers, broilers, and turkeys. In 2020, the broiler market has the largest market share as they adopt a high-protein diet to help support rapid growth. Broiler feed has many forms, such as crushed material, pelletized material and mashed material. The increase in the number of broilers, especially in countries such as India, is expected to drive the growth of this segment.
According to the form, the poultry feed market is divided into mashed, pelleted, and detritus. In 2020, the particle segment market will have the largest market share. Pellet feed can promote the growth of broilers because it helps improve the digestibility of feed, increase palatability, and reduce the separation of pellets.
Poultry feed market: competitive landscape and key developments
Several major players operating in the global poultry feed market are ADM; Cargill. Alltech; Charoen Pokphand Foods PCL; For farmers; Kent Corporation; SHV Holdings; Land O'Lakes, Inc.; AFGRI Animal Feed; and DE HEUS Animal Nutrition.
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Contact: Sameer Joshi Email: [Email protected] Phone: 1-646-491-9876 Press release: https://www.theinsightpartners.com/pr/poultry-feed-market More research: https:/ / www.einpresswire.com/newsroom/the_insight_partners/
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